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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: wannaBrich who wrote (102468)	5/3/2000 7:34:00 PM
From: Marshall001	Respond to of 108040

Recently went to a Daytrading class/seminar in Texas.. I watched as a class full of newbies oohh'd and ahh'd as the "experienced" daytrader made a little over 8K in one afternoon. What they failed to realize is that it took almost 500K of capital to do it. (4000 shares of YHOO at 124..) I saw lots of smiles from folks grasping their 25 thousand dollar checks who couldn't wait to open thier new account because they just knew they could get rich.. That trader had almost 3million dollars worth of stock in his account and I recently checked, He held it all through the dip.. No 3m anymore... Takes money to make money. M

To: wannaBrich who wrote (102468)	5/3/2000 8:41:00 PM
From: BarbaraT	Read Replies (4) \| Respond to of 108040

Yep - they sleep very well at night, or at least this guy does. Goes to the beach during the day .. has a new BMW convertible ... picks up the girls. Sunburned and good looking. He has it all!! And as a rule, he only works a few hours a day. Says that he has to send his trades to his accountant monthly .. he has more than 1000 trades each month. I think I would be walking around shaking and talking to myself.

To: wannaBrich who wrote (102468)	5/4/2000 2:10:00 AM
From: SirRealist	Read Replies (2) \| Respond to of 108040

>>These guys/gals making $150K per day, can they sleep at night? How much was the capital used to get gains of the order of $150K? Is it worth it?<< It is entirely up to each individual's feelings about money and life circumstances. My business partner and I have invested a total of $15,000 into the market. Add to that expenses necessary to trade (for us, since we are separated by a few hundred miles, long distance calls are the chief expense... Let's say $2000 a year). We do have killer days like you described now. We have also absorbed losses as bad, a handful of times. Sucks. Then my business partner asks if we're back to the original amount.... which puts it in perspective. I like to say that $$ losses are temporary; it is only time that is truly lost. Easy come, easy go. When I sleep, I sleep fabulously. It is not the risk that keeps me awake. But as you can see by the timing of my posts, the research can keep me awake. <gg> Often. But it all boils down to one's feelings about money, about what is necessary to feel secure and sound. Everyone's different, and I can't knock any approach that maintains one's personal comfort zone. I can be happy selling apples on a beach, while health is reasonably decent and there are caring folks around to share life with. As e.e. cummings once said: "I'm living so far beyond my income that we may almost be said to be living apart." Gertrude Stein: "Money is always there, but the pockets change." Jackie Mason: "I have enough money to last me the rest of my life, unless I buy something." "If women didn't exist, all the money in the world would have no meaning.".... Aristotle Onassis "Money affords me nothing I personally need that I was not born with. It permits me to aid a friend in need and grants a stronger defense against the officially licensed and educated liars and thieves I encounter, but it is life and failure, and friends, that define the real wealth within my heart and soul.".... Sir Realist, straitjacketed in his rubber room.