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

To: ig who wrote (8869)	6/12/2000 5:07:00 PM
From: LPS5	Read Replies (1) \| Respond to of 18137

Int'l Grandmaster, I agree. I have maintained, and my opinion continues to be, that the equation for becoming a successful trader is, barring (a) innate talent and (b) rare or extraordinary circumstances, to trade with successful trader(s) in a situation where the firms' interests are aligned with yours: specifically, where ones' profit and loss, as opposed to commission revenue, are the way that the firm is compensated, costs are structured, and training is directed. These are often proprietary trading firms, market making firms, or hedge funds, and would (except for certain hedge funds) require an individual to be registered with an SRO. After a few years of that, I believe one would probably be fully and adequately prepared - on a number of levels - to trade from home, in an office, etc., with their own capital at risk. That said, I believe that nice peripheral activities which augment a situation such as I described above (which would be ones' profession, on a trading floor, immersive and intensive) could be reading credible, relevant trading books and, to a small extent, paper trading. You may note that I didn't mention the plethora of varied "daytrading training classes" out there. LPS5