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

To: wallstreeter who wrote (2824)	8/14/1999 7:56:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

ws, I had this thought from Rick's comment and I mean it sincerely: Do you understand why Friday was a "tough" day to trade? Great news in the morning. Sharp reversal to the upside. But a pain to make money going long. What happened <g>? Alan

To: wallstreeter who wrote (2824)	8/14/1999 8:26:00 PM
From: Don Pueblo	Read Replies (3) \| Respond to of 18137

What you need to do is just watch what happened when it went your way. This is not an easy game to learn. Trade YOUR way, not somebody else's way. Somebody else is different than you. You are the only person on this planet that can trade like you. If it works, do it. If not, stop doing it and try something else. You need two or three good trades a day and one small loss. If you want more than that, fine, you do what you do best. This is the hardest game I have ever played. I don't want to discourage you, but most people don't make it. The I-lost-40 large-and-I-quit rate is very high. Pay attention to the guy wherever you are that has 5-11 winning trades on the day and one loser for $62.50. He's a pro. Don't watch the stocks he is watching, watch what he is doing. If he has 40 trades on his blotter, move elsewhere. If he has 3 losers in a row, move elsewhere. If he EVER asks someone else what he should do, move elsewhere. If he gets emotional about a losing trade, move elsewhere. If he trades 1000 shares of an IPO, move elsewhere. If he trades off Joe Kernan, move elsewhere. If he shows up after the market is open, move elsewhere. If he trades BB stocks, move elsewhere. If he shorts more while it's going higher, move elsewhere. If he gives you weird stock 'tips' and rumor bullshit, move elsewhere. If he holds losers overnight, move elsewhere. If he doesn't understand technical analysis, move to a different state.