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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Baz Luhrman who wrote (6347)1/31/1999 8:55:00 PM
From: SteveDavis  Read Replies (1) of 12617
 
Baz,

I really think one can make a nice living "daytrading". I do it and have for the last 3 years. But I also position trade and hold some stock for the long term ie 3/4 months.

As I understand Block it was jump in something and see which way it is going and try to make 1/8 or 1/4 in a few minutes. I am in Houston and have friends that traded over there.

I prefer to take a position for some reason that I think the stock will move be it that day or over the next 2/3/4/5 days. For instance, I have made about $5800 trading OMPT since Jan 1. I have owned it 3 times and just bought it again at $14 on Fri. Should be able to make 1-3 points in the next few days. I did a total of 23 trades in Jan which is not much by the real "traders" but I cleared about $17,000 using a $50,000 trading account with MB Trading. I am sure that I should have done twice this but I am fairly conservative and don't want to loose the capital to trade.

To answer your question yes one can make a nice living but it is a lot of hard work, research, reading, listening for news, sweating, etc. It ain't easy and there is some luck involved. But I look at it as no more risky as opening up a flower shop, shoe store, restaurant etc.

Good luck

Steve Davis
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