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

To: ahhaha who wrote (7368)	3/12/2000 10:46:00 PM
From: re3	Read Replies (1) \| Respond to of 18137

so, then, doc, what are YOU doing ?

To: ahhaha who wrote (7368)	3/12/2000 11:00:00 PM
From: Keith Monahan	Read Replies (2) \| Respond to of 18137

The concept of "hobby trading" as gambling is an interesting one. I would appreciate your comments on the following example: - I run a scan at night and identify a chart which looks on the verge of a breakout from a pennant formation. - The next day I watch the stock, focusing on time and sales, trade rate, big blocks of shares vs. small, etc. - When I see the stock break out of the pennant formation and I like what I see in time and sales, I buy the stock. - Within 15 minutes, I will scratch the trade if I am wrong, or, if I am right, I will let my profits run with a trailing stop. Lets assume the gambling premise is correct, and all the work I did prior to my entry point was a waste of time. Therefore, my chance of success would be no greater than 50%, similar to betting red or black on a roulette wheel. Hasn't the money management technique of cutting losses quickly and letting profits run given me a greater chance of success than casino gambling, where each bet is either 100% win or lose?