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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Stoctrash who wrote (15229)2/10/1999 4:51:00 PM
From: SE  Read Replies (3) of 44573
 
From Omega List. Just an interesting mail, nothing critical though...

-Scott
-----------------
Subject:
Day vs. Position Trading
Date:
Wed, 10 Feb 1999 04:43:39 -0500 (EST)
From:
XXX
To:
Omega <omega-list@eskimo.com>

Seems to me some day traders justify their efforts because it gives them
something to do during the day. Otherwise they'd have to find some
other endeavor. As an intermediate market timer using mutual funds, I
can spend a few minutes at the end of the day (or even the next day) to
assess my timing model and go long or short appropriately. I only have
to be "right" once and I don't have to pick the exact optimum day
either. Mutual fund exchanges take place at the market close so
execution speed isn't an issue. Last long signal was Oct. 19, 1998 and
latest sell signal was yesterday. Plenty of ways to go short with
mutual funds from families like Prudent Bear, Potomac and ProFunds.

Day traders rely heavily on data feeds and execution speed and have to literally be
"right" many times per day. While I enjoy observing this newsgroup and the growing
phenomenon of day trading, I don't know why
people choose to subject themselves to this kind of pressure. Intra-day movement is a
function of so many factors and participants. Position trading gets you in the trend
direction which is more stable.

Simplify, simplify, simplify. Do something constructive during the day. Get better
results with a fraction of the effort and endeavor to become an intermediate trend trader.

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