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

To: Rick Faurot who wrote (4228)	9/19/1999 4:53:00 PM
From: Rick Faurot	Read Replies (1) \| Respond to of 18137

A Big Media take on chat rooms: news-observer.wsj.com

To: Rick Faurot who wrote (4228)	9/19/1999 9:38:00 PM
From: marketbrief.com	Read Replies (2) \| Respond to of 18137

Rick, I should clarify that I am talking only about extremely liquid stocks, since those are the only ones I trade... I have gotten to the point where if ave daily volume is less than a million shares I won't have anything to do with it... it is very difficult to get filled properly on any kind of size in the "thin dogs," and equally annoying to scare away all the bids when offering a thousand or two shares... the beauty of playing flavor-of-the-day junk is that you can trade size. My take on the definition of scalper versus short term trader is: a scalper works with a direct access system and is looking at an extremely short time frame like the 1 min chart, or is reading the tape... they are looking to beat the spread and nothing more; if they get more they are happy but consider it a fluke since they were only looking for 1/8 -- 1/2. Short term traders are not necessarily using direct access, and are often working off a larger time frame (5-15 mins.), and are looking for "swings." Position traders are often working off of the 60 min chart (and in some cases the daily!!!), call their full service brokers on the phone, and are looking for very large moves indeed... these are the guys who make the most money (besides the buy and holders of course ;-) ) but take on the most risk initially... position traders also tend to smoke pipes, lol. ~Smart$