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

To: Leland Charon who wrote (1504)	7/3/1999 5:48:00 PM
From: Dave O.	Read Replies (1) \| Respond to of 18137

< I am also a young guy who daytrades for a living (23). I have been at this game fulltime since I was (20). > Do you have any concern about burnout over time having started so young? Seems like it might be a bigger potential problem for you than someone like me, at 45 who started full time 3 1/2 years ago. Then again I know a lot depends on how one handles the stress and psychological aspects. I do a lot less scalping now than I used to, make fewer trades, have a more profitable bottom line and feel less frazzled at the end of the day. Dave

To: Leland Charon who wrote (1504)	7/3/1999 6:47:00 PM
From: TraderAlan	Read Replies (2) \| Respond to of 18137

Leland, <its time to start seeking out more position trading when the conditions of the market warrant this> This is such a natural direction for successful traders. Amazing it isn't taught much as the initial way to pursue trading. And its always best to keep shifting your holding period out of synch with the cycle of the crowd as that's who the MMs are targeting. One related point. So many new traders jump into technical analysis with intraday charts, thinking pattern recognition is easy. Both TA and pattern reading are much more difficult than they look and it takes well-established skills at the daily level to correctly anticipate short-term price movement on 5-min or 15-min bars. Just this year I feel comfortable for the first time using information on 1-min bars to refine my execution points. The secret is throwing away 90% of what you see as useless. I could never have done this without spending years staring at dailies. Alan