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

To: John F. who wrote (102494)	5/3/2000 10:42:00 PM
From: Marshall001	Read Replies (2) \| Respond to of 108040

Funny you say that.. I didn't trade all day.. At 3:15 I bought 500 shares of HSAC and sold them AH for 750 bucks. My first profitable daytrading day in weeks. I usually trade as much as 10 round trips a day. Usually 6 or 7. Today only 1. The only advice that I can add for daytraders is this, Most of your money will be made in the first hour of trading. After that you rely on market trends and news. If you have two or three successful trades in the first hour, Go do something else. Or take the trading function off your L2 if you must watch. As I stated before, I have spent quite a few days now making some money in the morning only to lose it in the afternoon trying to squeeze a trade out of something. Especially now that volume is drying up. Nothing worse than holding something you cannot get rid of in a hurry. M

To: John F. who wrote (102494)	5/3/2000 10:53:00 PM
From: HandsOn	Read Replies (8) \| Respond to of 108040

I need feedback from those using Datek, thinking about opening a third acct. with Them. I got bad news about My Dad last night, spoke to Him this morning and Tonight. I hope to be half the man He is someday, first words were how is my family and how did I do Today in the market Today. If You have the time please say a prayer for Him, tia.

To: John F. who wrote (102494)	5/3/2000 11:25:00 PM
From: If only I'd held	Read Replies (5) \| Respond to of 108040

Let me tell you something..... I have done a lot of trading in the past 3 years. I mean a lot. I have had days where I have made over 100 trades in a day. I have made huge scores too. Many of you were here when I made that huge score on ARIA, and that POS is still higher than where I sold it. TRGA....made over 140k in that one in one day. (only to turn around and drop that much on it in 2 days because I invested above my means....added a huge amount on the dip at 11) I have been up, and down, and up, and down. And I have spent a LOT of time doing this. Yeah, I have booked profits and had them wired out....it has gotten me some nice things. But I can tell you this.....if I had done what I just described in that post starting 3 years ago.....my overall return would have been a hell of a lot higher. I'm talking a serious difference. Geez, so many stocks I've traded...probably in the thousands. I wouldn't be surprised if I have made 30,000 trades in the past 3 years. (I wouldn't even want to count them) You know....that's insane. Especially when you consider that if I had just bought a position in most of the stocks I traded over those years and just didn't look at them, I would probably be up over 10,000%. Sure, I traded a few that turned out to be long term losers, but they are few. (primarily because I usually don't get involved with stocks that don't look right to me...not even for a quick scalp) I have literally lost stocks I owned because I margined them in a trial trading account. If I hadn't margined them though, I would still own them...and 2 of them are up over 3,000%. I'm telling you....I know for a fact that the system I described is more profitable in the long run than what most of us are doing here. I've known it for at least a year now too. Yet, my greed has kept me from doing it. And I have gone from being up 2,000% in a year, to being down 7%...ain't that crazy? I bet I've spent $200,000 on trade commissions alone in 3 years....at freakin' discount prices. Imagine how that money alone would look invested right now. You know....Warren Buffet always says...never buy a stock that you aren't willing to hold for 10 years. Look at Warren Buffet....is he not the richest individual investor ever to walk this planet or not? He ain't that rich from daytrading. My IRA has outperformed my trading account over this 3 year period by about ten fold. And I trade that too much too, but it's never margined, I don't worry about what is in it...it's just a whole different feeling...and...I am more selective about what i put in it...for the simple reason that I know that I may not be able to buy back what I sell in the same day, because I may be fully vested and have no margin in it to trade a swing. I had 4k NMSS at 4-7/16 a year ago...sold it for 7....it went to..like...85? That position at the time only made up a small portion of my IRA..and imagine if I had just given the stock some time. A Freakin' Year!! That's all...not even that really. What's a year for that kind of money? The stock is trading at 70 right now..x 4k shares...280k minus 18k +/- vested?? That's a house for one of my daughters...and I settled for a measly couple thousand in profits...thought I was a genius at the time. Now I feel like an idiot. Well, anyway...I'm going back to a level 1 system. I have about 20-30 stocks that I would like to own long term....because I like their stories. And I am always finding more....reason to feed the money in right? I'm gonna use my level 2 to spread out the money in these stocks, and have it all switched over to a level one system. I won't need this software loaded in my computer and I ain't paying for it or feeling like I have to make 50 trades a month to cover the cost. I'm going low overhead, and doing it the way I feel I should have been doing it for the past year. That's my thing though. Now you know how I came up with my SI handle.