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

To: Matthew L. Jones who wrote (4183)	9/19/1999 3:44:00 AM
From: Bilow	Read Replies (1) \| Respond to of 18137

Hi Matthew L. Jones; Re those SOES shops... The actual truth is that the small ones are quiet. It makes great news to talk about high fives &c., but our knowledge of human nature is that humans only celebrate rare good fortune, so that sort of behaviour would only happen rarely. Your system at home sounds great, but I consider myself a learner, and I want to have as many other people around to learn from. My experience is that traders already know what the "hot" stock of the day is, so they don't bother telling each other this. Just look at your Nasdaq percentage or dollar or volume leader charts. Instead, traders mostly exchange opinions on stock patterns, "secret" information on tricks of the software (some of which are extremely important, and none of which I am going to divulge here), and generally form a reasonably friendly group, despite sometimes carrying opposite positions on stocks. Another useful thing is to find out how other traders trade. My theory is that their are thousands of ways of making money in the stock market, but millions of ways of losing it. With a variety of traders, everybody soon learns who can "read" the futures, who can read a long term chart, who can read a 10-Q, etc. It is my objective to become a perfect trader, and be proficient at all things. (This may take me several more weeks of effort, though. :) When I think of all the things I have learned from other traders in casual conversation, I would never give up the daytrading office environment for the home one. Maybe when I am so much better than anybody else that I have nothing left to learn, I will trade at home, but I can't see that happening any time soon. Admittedly, I have the ability to tune out things that are not important to my task at hand. If someone didn't have that ability, they would probably have to trade in a completely controlled environment. But I haven't had any problems, and I appreciate the exposure to more information, both from all the data feeds, and from the other traders. -- Carl P.S. When a local station filmed the floor, we all tried to make more noise, so it would sound like what people expect a trading floor to sound like. We faked a more noisy environment because we wanted to see our pictures on TV, this is the way that news is produced, but it probably contributed to an incorrect impression among those that viewed it. (Not owning a TV, I didn't see the resulting news show.)