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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: JavaAdict who wrote (949)	6/17/1999 10:51:00 PM
From: -	Respond to of 18137

JavaAddict, I'd recommend starting with a bit of an attitudinal shift. The price fluctuations you see that frustrate you because they're difficult to understand are due to the confluence of many forces. Some of them are manipulative, yes and ALL of them want to take your money. But, you have to accept them in toto, as THE MARKET. That is the playing ground. The game is, to learn how to play within that context... that is the starting point. But, you have to accept that those prices DEFINE the rules you'll be playing by... Otherwise, you might want to consider another pursuit, because it's only going to get more frustrating if you try to "fight price". Hope that doesn't sound too harsh, thought it might help in setting a starting point to learn more. -Steve

To: JavaAdict who wrote (949)	6/17/1999 11:48:00 PM
From: Richard Estes	Read Replies (4) \| Respond to of 18137

Think of it as a auction, you make your offer, if you get it. You now begin to look for a bigger fool to sell it to. The only value a stock has is the last price paid for it. It is a good stock to you only if it moving in the direction of your trade. The faster and the further it moves away from your buy, the better a stock it is. Try going into a mode where you don't care what the company does or what people with hidden agenda say about it. I don't know what 3/4 of the stocks I trade do. But, thru TA, I know where price is from measurements that have been accurate in the past in predicting movement and direction. TA is not voodoo, it is objective. The smoke and mirrors all come from the funnymentals/news/advocates side. If you can't tell me why a stock should move from a chart, it is a waste of time for me. Outside the house staff (brokers, MMs, analysts) there are very few who are trying to take your money, they are just trying to make money with their plan. The "New york" professionals usually do it with other people's money and don't do a good job at that. Yet you see them being interviewed in a wizard book and being a talking head on TV. All stocks' mood is controlled by the crowd at the auction, a stock goes up when there are more buyers than sellers and down when there are more sellers than buyers. Each can decided for a million reasons, what he will be at any minute. There is no "reason", only price movement. Measure that movement. I have rambled on enough.