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

To: Eric P who wrote (2338)	8/3/1999 4:40:00 PM
From: marketbrief.com	Read Replies (1) \| Respond to of 18137

Very nice post, Eric. I would like to emphasize two points: Folks should expect to lose for many, many months before they begin to get a feel/understanding; and emotional control is absolutely a prerequisite to successful trading. Technique means next to nothing; being able to listen to your own self-talk is key. ~Smart$

To: Eric P who wrote (2338)	8/3/1999 5:52:00 PM
From: Threei	Respond to of 18137

Eric, great summary. Sheeesh, where were you 3 years ago when I started! :) Certainly would have saved some pain and may be money. A little bit envious of those who start trading with such an advantage as this thread with great deal of good info gathered in it. Vadym

To: Eric P who wrote (2338)	8/3/1999 7:50:00 PM
From: dpl	Respond to of 18137

Eric,great post.Once again you show your experience. David

To: Eric P who wrote (2338)	8/3/1999 9:46:00 PM
From: Dave O.	Respond to of 18137

Eric, Great post. A couple other things I'd suggest are (1) Don't worry about the $$$ aspect early on. Rather, try to make successful trades. Maybe making 1/8 on 100 or 200 shares incurs a small monetary loss but it allows one to get their feet wet slowly and not risk a large amount of money. If you can develop a strategy that works on small trades then the profits will follow when you move up to 1000 shares. (2) Keep a trading diary. Record your thoughts at the end of each day. How did you feel about your trades that day? Did you have a wining (losing) streak at some point? How did you trade thereafter? How do you react to early morning losses? Do you take more risks trying to make up the losses quickly? Do you feel the "need" to get into a trade if you've been idle for 15 minutes (1/2 hour, etc.)? Periodically reviewing a diary can help with avoiding some of the mistakes one made in the past. Dave