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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: the options strategist who wrote (51)	10/23/2000 6:03:46 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 6445

You're absolutely right. From working in the business, I saw a lot of that...but that's OK. Someone has to be on the other side of the trades! ;o) Teresa

To: the options strategist who wrote (51)	10/23/2000 8:04:21 PM
From: Jenna	Read Replies (1) \| Respond to of 6445

JJ, anyone who thinks all it takes is a few picks and a lost of the most active or most will need the 4-5 years to learn to trade the right way. Posters on SI have no responsibility other than posting a pick here and there on SI, others don't actually track the picks, they get lost and when one is up.. out of 4 or 5. The lotto ticket is called in "I WON!"... trial and error, trying to stay afloat in a down market, learning how to hedge losses or down markets with a lot, a real lot of puts, shorts, thats what makes a trader. Unfortunately not all professional services fare any better unless you test them out. My tennis pro wants to be a trader, he asked if my trading forum is good for him, I told him point blank, stay off SI, don't go on the trading forum but read a few basic books, then find a seminar or teaching program that someone else has had a positive experience from. Then take 3 or 4 months to paper trade, then maybe take some trials at various websites. Those that provide eduation, is well done and not in a slipshod way, get a site with a way out if you get in over your head, and most of all don't get influenced by 'claims' of gains made by those who can't or won't back up and commit to their trading system. There has to be a system, a group of strategies that work over and over and backtested through time. Otherwise you are join a fantasy world like Alice through the looking glass or looking for the Wizard of Oz like Dorothy, when he doesn't exist and where nothing is like it seems. I get scores of e-mails every day of disappointments, euphoria, claims not backed up, picks that backfire, newsletters that disappoint, brokerages that promise, etc. etc. We were all there unfortunately some of us learned the hard way. When your order roofing or a swimming pool you want to check out the other customers and see how satisfied they were and the quality of their work. Cheap is not always mean the worst, and the most expensive doesn't always mean the best... try them all and then decide. Usually but not always you get what you pay for.

To: the options strategist who wrote (51)	10/24/2000 12:06:24 PM
From: pooh	Read Replies (2) \| Respond to of 6445

JJ: "When I talk about money management they tend to laugh" Excuse me for being simple minded. What exactly is money management? I always think that if I buy 100 share of ABC at $100, assuming the cost per trade is $20, I would lose money if ABC is less than $100.40, gain if greater than $100.40 and break even at exact $100.40 (assuming also that I trade the IRA account so tax isn't a factor)? About "gambling", when guessing is involve, it's gamble, whether it's an educated guess or just a wild guess. An educated guess in trading involves proven TA and/or fundamental. A wild guess involves all kinds, such as bottom fishing or jumping in with the crowd, which sometimes works well. A simple example is the buying last Wednesday morning: an educated TA guys would wait for confirmation from their fancy indicators, while a wild guess guys jumped in and bought when they heard CNBC said it was the bottom. Sometimes they got killed, sometime they got money. A friend of mine, who is totally ignorant about TA. His portfolio is currently up more than 60% this year alone, because he bought technology mutual fund (just mutual funds!!!) every time the market looked so gloomy such as in April, May, September and October. He sold when his funds drop 7% from its recent high, or his price, since he heard from some guys whom he doesn't even know, but he heard that the guys was good (I believe it's McNeal), that one would not let his money drop more than 7%. The guy know nothing about intraday chart or intraday trade. He uses Yahoo daily chart, just to see "how's thing going." I hardly knew any educated traders that made more than he did this year, not to mention last year when he was flipping Japanese and technology funds, because he had no idea which company is in the biotech sector!!! I can't talk much to him about stock, since he always said: "you analytical people are too complicated. Life is simpler than you made it to be." Now would you consider him, a gambler, a bottom fisher, a jumping in with the crowd guy, a successful trader? <ggg> With his record, I would. <vbg>