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Strategies & Market Trends : Trading For A Living
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To: Dan Duchardt who wrote (1555)4/17/1999 10:09:00 AM
From: TraderAlan  Read Replies (2) of 1729
 
Dan,

There's a tendency the last year or two to confuse technology with trading. Stock market day trading has been around a lot longer than the video game trading systems offered by the EDTs these days.

Newer (and often younger) traders are naturally attracted to the sexier, faster, more adreneline-pumping interfaces with lots of monitors, flashing numbers, ringing alarms, etc, etc. But faster doesn't necessarily mean better. Successful trading requires finding your unique edge and capitalizing on it. When you're thrown into the same high tech environment as everyone else playing the order-entry strategies being taught now, you become part of the crowd and will get taken advantage of by more experienced traders and insiders (i.e. market makers).

Every trader has to find his or her original approach to the markets in order to succeed. As hard as it may be, you may want to toss out some of that high tech and explore classic short-term trading strategies that have worked for many, many years. Since they're not as popular these days, you won't find yourself part of the herd and can begin taking the money of many other newbies and semi-newbies who are hypnotized by their RTIII screens and chasing SOES and SNET orders.

Alan
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