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

To: RockyBalboa who wrote (7049)	2/27/2000 8:46:00 PM
From: Jon Tara	Read Replies (5) \| Respond to of 18137

The advantages of a set are supposedly better information (dubious nowadays) and being in a room with a bunch of other traders, who you might get ideas from. I supose it also may instill in some people the notion that it's a full-time job. But if you don't have the discipline to take it seriously, you have no business day-trading in the first place. I think that the pressure to trade constantly more than offsets whatever advantage there might be. Frankly, I agree that that part of the industry is nothing but a scam. I hope that the government doesn't ruin it for the rest of us because the trading rooms have poisoned the image of day-trading.

To: RockyBalboa who wrote (7049)	2/27/2000 8:55:00 PM
From: LPS5	Read Replies (1) \| Respond to of 18137

The typical benefits that proponents of such a set-up note are the synergy of experienced traders around you exchanging ideas, giving looks, etc; the economies of scale which permit for lower ticket charges; and the ability of a broker-dealer to procure execution and information services which an individual - particularly one working at home - wouldn't be able to. Bloomberg terminal, Instinet terminal, ITG subscription, AutEx, etc., etc. Also, some (who could offer such) used to promote the leverage they could provide in excess of Reg T before regulators began pushing for full registration of any customer (thereby rendering them an "associated person" and de facto employee or consultant) trading in excess of the standard 2:1 buying power. LPS5