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

To: JB2 who wrote (1815)	7/13/1999 1:06:00 AM
From: -	Respond to of 18137

"One type of stock trading you definitely do not want to engage in is day trading, or day-to-day trading, where you try to buy and sell a stock on the same day. The reason is simple. You are dealing with minor daily fluctuations which are much harder to determine than are basic trends. There is not enough profit potential in daily trading to offset the commissions you generate and the inevitable losses that occur." - William O'Neil >Talk about a blanket statement. This sounds like something the SEC >would like emblazoned on a door plaque in every daytrading shop >right about now. Ha! How literally true. I can almost picture them (the SEC, with a NASD posse closely behind) with a scalding-hot branding iron, trying to emblazen that very quotation onto our misguided, sorry hides. -Steve

To: JB2 who wrote (1815)	7/13/1999 1:36:00 AM
From: Richard Estes	Read Replies (1) \| Respond to of 18137

It was in keeping with $300 commissions, Low volume, low volatility, a lack of tools for average persons. The $5-10 commissions, home computers, RT data, etc. lets everyone give it a try. Most fail. His advice isn't that bad, for the majority of people. There are many valid reasons why daytrading is risky. A volatile market gave us daytrading in stocks, when that leaves so do many "daytraders" especially the good traders. A statement like he makes is standard for all the "elite" people on the street or in the books. Enjoy it while you can.