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Strategies & Market Trends : Analysis Class for Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (1127)	2/13/2000 11:28:00 AM
From: Arthur Tang	Read Replies (1) \| Respond to of 1471

Psychology of daytraders? Brokers depend on commissions and had to pay half to full service brokerages. If they churn the accounts, they lose all their clients by making them paupers. By studying ebb and flow of the market each week, they can live on the graces of the specialists and market makers, taking home some income on Friday. Momentum players were thus born. No one holds stock over the weekend. Volume of the exchanges went up over the years, since "ebb and flow" was coined in 1991. Today the daytraders were famous for dropping all their life savings, learning about daytrading. What daytraders have to learn first is to have the need of bring some money home each day. The psychology of making money at the end of the day, and start with the same nest egg is extremely important. You don't need more nest eggs, because, you have to think how much you can win that some one has the money to pay your winnings. If the system does not have the cash to pay you, then they have to take you out. It is like Atlantic city, any bet over $1000 is taken out. When you cash out, they ask a lot of questions if you win big. If you question who is going to pay you, then you can look at the technical analysis, watch the overbought and oversold. Overbought is how the market makers take you out. Overbought is how people buy too much stock. So, microTA will help you lower your expectation and keep you winning smaller trades. Happy daytrading. Remember, bulls make money, bears make money, only pigs lose all their money.