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

To: Hands Off who wrote (2758)	8/13/1999 8:21:00 PM
From: Eric P	Read Replies (1) \| Respond to of 18137

Wish there was a mentor around I could follow. You have a whole thread full of mentors. Feel free to take advantage of us. That's why this thread exists! Good luck, -Eric P.S. Perhaps you were hoping to have a mentor to physically trade with. Unfortunately, we can't help you there... but if you can come to Los Angles in September, we would love to meet you in person!

To: Hands Off who wrote (2758)	8/13/1999 8:49:00 PM
From: OZ	Respond to of 18137

Recent quotes from new traders +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ I know I have to make that fundamental decision about the kind of trader I want to be. Wish there was a mentor around I could follow. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ yes you are right LG and i learned the hard way,the good news is that its friday and i can examine the software over the weekend and look over my trades. this was a big lesson i wish i didnt have to learn:) thanks for the advice LG +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Thread, This is precisely the reason I have chosen to start out at a local DayTrading shop. I will work with 4 or 5 mentors on an individual basis, I think this, would benefit many new traders. (I already know my style of trading but am always eager to see others). Also, this shop has 3 different software platforms available which helps me migrate to the one I like the best. To leave your day job and sit in front of a flashing level 2 screen watching YHOO seems like a good ingredient for possible failure. When I visited the PRISTINE trading floor for 3 days during trading hours, I was impressed by the friendliness and help the traders gave each other. The experienced traders would step in and help a newbie MANAGE a situation that seemed to be turning against them. It was as reassuring to them as having the police show up at the seen of crime. Recently, I visited the Cornerstone office in Houston and was also impressed. My advice is to go to an office and see if they will spend the time with you and show you their operations. if they decline, then they are probably not the right choice anyways. When you feel ready, then start trading at home if you want (do not sign any kind of contract that says otherwise). Or, you can trade at home some of the days and at the office the others if they offer remote access (another good question to ask the firm). WALLSTREETER, What were your plan and objectives today. Were you thinking of holding overnight or just scalping or what. Maybe we can disect the trades a little more and see what the problems were. On the NITE play I will offer this. If a stock gaps up like that at the open, do not buy it until it subsequently breaks its high of the first thirty minutes of trading if you intend to hold it longer than just a few minutes. Stocks frequently try to fill their gaps during the reversal period. If they do not close the gap and continue upward after thirty minutes then they are probably up and out of here. :-) Good Trading, OZ ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++