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

To: If only I'd held who wrote (102499)	5/3/2000 11:48:00 PM
From: Marshall001	Read Replies (2) \| Respond to of 108040

That's great for you Greg.. But you run a successful business as well. Remember, A lot of us here trade for a living. Its my source of income as well as My source of entertainment. Your "new" trading style will most likely be perfect for you. Especially with that new contract. Sounds like your hands will be pretty full. To be honest, its my goal to eventually use daytrading to make enough capital to do exactly what you are saying. IMO you shouldn't be daytrading with more than 50K. (100k with margin). I can't remember how many times I've bought a stock with outstanding fundamentals and wished I could keep some. Eventually it will happen. But for now I have to scratch and scrape. I've actually learned to enjoy the ups and downs. I think the swings improve my quality of life. No boring same thing every day like a normal job. Its taught me a whole new level of self confidence. I rely only on myself now. No begging for raises, or hoping you don't get in trouble for being 5 minutes late. All the time off you need without paperwork or paying someone to cover your shift. And best of all, I wake my son up in the morning and put him down at night. I sit him on my lap while I trade and he points at the screen and says..Uh Ohh..(He doesnt say much yet). Its a stressful life but a good one. The trick is being able to leave it at 4:00. Like most traders I still find myself running in to the office every half hour to see if anything has changed or if anythings trading AH. IT used to be worse, I'm starting to get better. Its an exciting way to make a living and one that changes all the time. Good Luck with your new style. I hope you get what your looking for. Just keep posting here. We'd hate to lose you. M

To: If only I'd held who wrote (102499)	5/3/2000 11:49:00 PM
From: TsioKawe	Respond to of 108040

OT: A little humor intelligentspeculator.com compliments of Pete S

To: If only I'd held who wrote (102499)	5/3/2000 11:50:00 PM
From: baddtiming	Respond to of 108040

If, I have to say that your last 2 posts are 2 of the best posts I have ever read. You are of course 100% correct. I have read several books lately (buffetology, motley fool, etc.) and they all say the same thing find a good company with a good story and buy it and don't ever sell, hell the taxes we save on long term verses short alone would be $10,000's of thousands for most of us. The Catch: It's no damn fun...and it does not satisfy the gambler in most of us that hang out here. My stratagy since black friday has changed to a compromise: as follows: I continue to day trade with a core amount that I can afford to gamble, when I have a good day I buy myself 100 shares of something I want as a gift(most recently, MSFT, AMAT, DIGL, GBLX, CSCO, SUNW, etc.) these gifts to my future I will never touch and I can continue to trade with my core holding, if that goes down than I cannot buy myself a gift until I bring it back up. Just my approach and satisfy's my gambling habit:) Thanks for the great posts. BT

To: If only I'd held who wrote (102499)	5/4/2000 12:27:00 AM
From: athomeinmypajamas	Read Replies (1) \| Respond to of 108040

If only I'd held... I too agree with that style of investing but until I have enough cash to cover living expenses for at least two years it's not really possible. I need to generate money to live and scalping is doing that for me. As for having a life, well...I'm able to play "accidents on the farm" with my sons as well as pour them juice, and tell stories before their naps. Have two tv's now thanks to trading and can leave CNBC on in the office if he wants to watch his favorite Thomas the tank engine video. We also have a nanny thanks to trading and do not have to scury into a job like rats and hope are kids are fine at a daycare. Yes, life is good !!

To: If only I'd held who wrote (102499)	5/4/2000 1:52:00 AM
From: John F.	Respond to of 108040

IOIH, Good Luck with your new buy and hold philosophy! Just to give you some idea of my trading experience .. I started trading online around 1990 before the arrival of Internet Trading using Schwab's MS-DOS Based Equalizer software and a dial in telephone connection to Schwab. I did a lot of trading in '94, but did nowhere near the volumes you've done the last few years. Traded some options but mainly stocks. Learned my lesson. At year's end, I looked back on my trading and was not all that happy with the results. Since then, I have pretty much employed a buy and hold strategy. Some trading. But, have stayed fully invested for the last 3 or so years. I used search for one or two stocks that were moving to place big bets on. Now I am diversified, but mainly in Tech Stocks. Nokia, Emc, and Cisco are my biggest holdings. I've sat on them for a couple of years now. Been in Home Depot and Network Appliance for over a year. I missed the big run-up in internet stocks (due to valuation concerns) but got into semiconductors last fall. Frankly, the buy and hold approach is the only approach that has worked consistently for me. Still, although I do not intend to shift away from my buy and hold strategy, I am striving to learn how to do a better job of trading. I now spend most of my time trying to identify the best stocks to sit on rather than the next stock to ride a point or two. And, I would like to learn more about the various trading systems that are available to us (ie: should I be on Win98, WinNT, or Win2000? Which quote systems are the best? I am on an AMD 450 system w/ Win98 and now use Medved Quote Tracker with free RT quotes via Datek Streamer. Which of the discount brokers are the most reliable and get you the best trade? How concerned should we be about payment for order flow? etc.) But, at the top of my list right now is .. finding good research. So much of what you read just does not cut it. Again, best wishes in the coming year! That goes for everyone ...