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

To: Eric P who wrote (8003)	4/26/2000 9:18:00 AM
From: Eric P	Read Replies (2) \| Respond to of 18137

I don't know if it's just my perception, but it seems as though the daytrading threads on SI have become quieter in recent weeks. I worry that this may be an indication that the recent volatility and decline of the markets has hurt many SI members, creating a lack of interest in the markets for many. I have also noticed a number of high profile people who have apparently left SI for good, including Kimberly Lee (Goodbye post: #reply-13436249), our good friend Tastes Like Chicken (#reply-13442561) and Street Walker (#reply-13337438), among others. I hope this trend does not continue. Message boards such as this can be a great benefit for new traders and seasoned traders alike. May the market be with us all... -Eric P.S. This might be an appropriate time to consider re-reading the sections on Risk Management from the thread summary. I'm sure there are many very good posts in that section that might be appropriate to review as the market becomes more volatile.

To: Eric P who wrote (8003)	4/28/2000 3:18:00 AM
From: E. Davies	Read Replies (2) \| Respond to of 18137

I'm so excited about the possibilities of SuperSOES. I just can't wait! My problems have always been with getting fills. All the trading skill in the world doesn't matter a tiny bit if you cannot execute a stop loss order. I cant tell the # of times I've had to chase getting out of a position all the way down until its time for the next reversal. Either that or you pay 1/2 to 3/4 of a point beyond the inside to hit an ECN- and you better do that fast, because everyone else is chasing them too. MM's have become an anachronism who do more to interfere with the market rather than help make the market. SuperSOES is going to radically change all that. I think it is also going to have a powerful impact on short term traders in a way nobody can yet understand. No MM's holding up the flow will mean stocks move more quickly- yet at the same time I believe that the lag created by the MM's tends to make the short term swings larger than they might otherwise be. This leads me to think we may tend to see very quick movements from one quasi-stable point to the next, not necessarily easy to trade. In addition as mentioned traders will start to be able to focus on the when of a trade vs. the how of one. This means that the when is going to become a lot harder to determine. You never get something for free. Whatever happens, I'm sure it will feel a lot different than today and people are going to take some time to adjust. I'd love opinions.... Eric