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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Ichy Smith who wrote (27523)	12/18/1999 9:14:00 PM
From: The Devil Dog	Read Replies (1) \| Respond to of 62348

Good Post Peter, tells it like it is. Maybe we need a week traders thread This of course is facilitated by Wards thread. Subject 23841 I still have bad weeks, for that matter I really only think that I moved money around this week (Well actually might of squeeked out a little gain BUTT nothing to CROW about ;o). Substantial gains before leave my confidence intact knowing I can do this. My biggest thing to overcome is taking smaller hits. Some times its really hard to be in sync. I made lots of good trades, they just balanced some of the overnights gone bad. But I was willing to take that risk when I held them. I continue to look at my progress/performance by the year month etc etc. not by the day . So far my application is working , However!!! Still needs plenty of improving !!!!!! ;o) Best Regards WB

To: Ichy Smith who wrote (27523)	12/19/1999 2:40:00 AM
From: Bid daddy	Respond to of 62348

Thanks Peter and Wayne, a lot of people have shared a lot of ideas with us in the last few months. It may not show it, but we have gained a fortune in knowledge. When we first switched to self directed RSP's, which we had worked hours and hours of OT to build up over the last ten years, we have at least as you say Peter, never put high risk to our capitol, as once it is gone, it could spell disaster, but lucky for us, we have done well in the RSP dept and are satisfied. We did however, take a big hit in year one, with our Garth Turner inspired 20k line of credit that we thought would make us some big gains. It gained, it lost, it gained and it lost again, and is now just an extra bill unless we do gain it back ut of proper investing. Actually after having a long talk today, I said to my wife, "we have just been a debt chasing machine for the last couple of years" trying so hard to gain back the initial loss from a crappy penny investment, that we have taken huge risks chasing the the next hot stock, while missing out on potential gains, we would have made by just holding a few good picks. We even started trading our RSP accounts in higher risk situations, we thought it would counter the loss in our other account. We can solve our problems, but trying to become a day trader out of desperation of a loss, is not the answer for us at this time. Short term trading is work and is a real skill, it's like having a PHD if you are good. One day my wife will want to try trading again, after the kids are in school and the time and reasons are right. Paper trades, self DD and not trading with a thread, for a good half year, will be a must. As of FRIDAY our margin account is now history. We had been spoon fed, all of the instructions on what not to do and why we should not rush into trading, by the person who started this thread, who we respect very much. It just took us a while to listen! Peter, your thoughts do help I wish you the best with your investing. BID daddy.