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

To: Richard Estes who wrote (1713)	7/9/1999 2:36:00 AM
From: Raymond Duray	Respond to of 18137

So Richard, < I would rather roll my own.> Is there method to your madness? You are right about the fear. I have found that being able to cut thru the fog and see a great future for company in confusion is a quick way to the poor house. One must fear because all else fear. It is a bane of humanity we have not overcome this shortsightedness, alas we no longer believe that the earth is flat, but we do believe that we can all panic and go liquid at the same time, just shows how far we still have to go to achieve any sort of rational understanding of our circumstances. Just musing, Ry

To: Richard Estes who wrote (1713)	7/9/1999 2:46:00 AM
From: -	Respond to of 18137

<Has anyone studied how many adverse openings vs. profitable ones?> I haven't done a scientific study, but I can testify that my "equity curve" benefits greatly from not restricting myself to intraday trades. Carrying overnight requires more experience and learning curve though, compared to daytrading. Else, you will get nailed all the time. It's a more sophisticated way to trade. Of course, I do a lot of intraday trading, too. But some nights, like tonight, I'm loaded up with around $1M in open positions that I took on today. Many sophisticated stock-trading guru's like Pristine capital preach learning carries/overnighters; Jeff Cooper carries overnight, a lot of the experienced pro's. The "never carry it overnight or you're a deadman/woman" philosophy is a carry-over (heh, heh;) from some of the more old-school, SOES-oriented daytrading schools of thought like Houtkin & Co., IMO [Gee, I already found someone else to pick on! And I've MET Houtkin, taken his training!] -Steve