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Technology Stocks : OnSale Inc.
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To: Mark3000 who wrote (3970)4/2/1999 1:30:00 PM
From: Gary Wisdom  Read Replies (1) of 4903
 
mark a.k.a. Rock is cookin man re: so taking a profit makes us idiots? 1/8 on 2000 shares is $250

In my many years of experience trading, I have yet to find one trader that has made it scalping 1/8s. Not one. $250 less about between $30 and $60 R/T commission is about $200.

Make 10 of those trades in the right direction and you have $2000.

Make 1/2 of them right and you are even.

In my many years of experience trading, the most successful traders are right no more than 40% of the time. The key is that they let the profits ride and cut their losses right away.

However, if you're scalping 1/8s, and your stock gaps down a few points all of a sudden (this happens ALL the time, to wit NSOL among others), you wipe out an entire month or year of profit scalping 1/8s in a few minutes.

Mark, you might be the exception and if you are congratulations.

But IMHO, you're blowing smoke.

Do YOU smell what the Rock is Cookin?
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