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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Brian Hornby who wrote (21208)4/15/1999 11:22:00 PM
From: Patrick Slevin  Read Replies (2) of 44573
 
It's all personality and staying power I suppose, but I think a good day trader should easily triple the takedown of a good position player.

A good example might be Temple Williams, although he no longer allows people access to his trade records unless they are members of his site. I personally think he overtrades but it seems to work for him, from last May til now his trade record shows he took down over $260,000 per contract with only three losing weeks. His percentages are only a little better than 60% winners and only averages less than a point and a half per trades.

He's a bit frantic but that seems to work for him.

Now if you think about it, netting over a quarter of a million (per contract) in 11 months is more than a thousand spoo points. The entire SnP is not worth much more than that.

Position trading is probably easier at the outset. The real trick with day trading is just discipline. Knowing when to throw in the hand. Also, a day trader has to have a better percentage win rate. You can have a 40% win rate position trading and do okay, a day trader likes to see around 70%.

In general I imagine it's all in what you are emotionally set up for.
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