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

To: shneed who wrote (10128)	9/6/2000 1:11:12 AM
From: Wayners	Respond to of 18137

If they ask for 1.5M to cover a call, you tell them you alrady spent 1.7M on a solid gold trident to shove all the way to tim buk too up their ass. Tell em Wayne sent ya.

To: shneed who wrote (10128)	9/6/2000 3:38:32 AM
From: 2MAR$	Read Replies (1) \| Respond to of 18137

So here is MyTrack finally responding, as a bunch of ya already got the Gaff....(but by now ya'll should be atleast worth a few million <ggg>:-))) Dear myTrack Trading Customer, What's this about? ------------------ Day Trading Call (DTC). Most people are familiar with the more common Margin Call. DTC is different. It is not directly related to the equity "risk" in your portfolio. In fact, you can receive a DTC even in a cash account. What triggers it? ----------------- It will be triggered if you "day trade" and exceed your Day Trading Buying Power (DTBP). The NASD defines a "day trade" in one of 2 ways: 1. You buy and then sell the same security in one day. 2. You sell and then buy the same security in one day (i.e. you come in to the day with a long position you sell it and then buy it back). There is nothing wrong with day trading. The only time you have a call is when you day trade AND also exceed your DTBP. 95% of DTC are triggered by item #2 above. If you are "flat" every night, you will rarely get a DTC. More info please ---------------- The above subject and its associated computation can get complicated. We have purposely kept this email very simple. Here is how to get additional info: 1. Please look at http XXXXXXXmargin 2. Wednesday night a new myTrack beta version 4.2.22 will be available at www.XXXXX.com/beta. This version will display your Day Trading Buying Power. 3. This Thursday (9/7/00) Barry will host a moderated chat at 4:15 est in channel 4 to answer any questions. How is this going to affect myTrack? ------------------------------------ A number of our members are currently getting trading calls. We believe that once our members become sensitive to this subject, the number of calls will be reduced. Our competition (i.e. CyberCorp, A.B. Watley) have the same rules and procedures. Is there an upside? ------------------- Actually, yes. With rev 4.2.22, you will be able to see your Day Trading Buying Power (which usually is greater than the Reg T Buying Power). Hence, if you plan to be "flat" at the end of the day, you can actually trade bigger positions. ***In otherwords Barry H has decided to actually run a company with an eye on improvement....bout time this software genious got off his fat windbag ___! ;-))