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

To: Cormac who wrote (7202)	3/10/2000 9:18:00 PM
From: Jon Tara	Respond to of 18137

Cormac, see my "philosophy" post. I feel that, in this market, if you are taking money out of your trading account every month and not increasing your trading capital, you are not using this market to your best advantage. This market has an expiration date. (Now if we only knew what it is!) If the money taken out is not needed for living expenses, then I see nothing WRONG with this - it's a nice conservative approach. If you don't NEED the money, then you ARE increasing your overall capital - you just aren't employing it to pyramid profits. While I doubt that these are real figures: average trades per day - 18 (round trips) average points per day - 8 3/16 average percent of winners - 69 % average profit per day - $3191 losing days - 0 high - $8987 low $406 high % - 78% low % - 44% losing days in the past 18 months - 3 - sorry, I find them mind-boggling - if they DO represent a real trader's results, then this trader is underacheiving in the EXTREME, because he is not increasing his trading capital.

To: Cormac who wrote (7202)	3/11/2000 1:16:00 AM
From: Cormac	Read Replies (2) \| Respond to of 18137

Sometimes I think that this business brings out the elitist in some of us (speaking of myself)... Let me share a story of a trader that I met...he seemed to be in a perpetual state of agitation...as if the pressure to perform was enormous. After some conversations I learned that he was a prevailing wage union worker who had earned a honest dollar thru the sweat of his brow since he was a teenager...his occupation passed on to him by family and circumstance. He provided well for his family...in reality his family was divinely happy and well adjusted, needing nothing. He had worked overtime and made personal sacrifices to earn an extra $10,000 and try his hand at daytrading...that was when I met him...his only goal was to be able to give his children a financial opportunity at an early age, an opportunity that he had never had. He is not well educated nor does he have a bent toward the financial world nor will he dazzle you with his brilliance. What he had was a dream and a desire...and with his nose to the grindstone he was determined not to fail. Well to make a long story short, he finally went thru the travails of a daytrading education to come out the other side. He has gone from a $40,000 a year job to a $70,000 a year job as a daytrader...some of us would laugh at this amount but...he has not changed his lifestyle or spending habits...he has more time to spend with his wonderful family and each year he can add close to $30,000 a year to safe financial vehicles set aside for his children when they come of age. I am sure there are many of us *financial wizards* out here that would love to give him advice on how to further his portfolio, increase his earnings, etc...bottom line I have more respect for this trader than any other trader that I know, have read about or heard about. it is all about perspective Cormac sorry if this is a little off topic, forgive my indulgence