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To: Ally who wrote (2408)	10/28/2000 2:05:21 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 8925

"Day" trading vs. "Buy and Hold"? Well, first of all, buy and hold is NOT trading. It is "investing on faith" that the market goes up in the long run. Secondly, "day" trading is no different than any other type of "trading". It's just that people attempt to complete their buy and sell transactions in ever smaller time periods. Without skill no one can make money in trading - PERIOD. In "day" trading, in addition to having skill, one needs to be able to make a large number of decisions in a small amount of time, and in my opinion, most people are not suited to do this, psychologically. If you wish to read some articles I have written, here is a small list: Trading for a Living: The Biggest Lie of All... ispeculator.com The Successful Trader: ispeculator.com The Secrets of Success: ispeculator.com Trade with the Trend: ispeculator.com My personal opinion of Buy and Hold: ispeculator.com Teresa

To: Ally who wrote (2408)	10/29/2000 1:56:07 AM
From: SirRealist	Read Replies (1) \| Respond to of 8925

In addition to the excellent points Theresa made, specific answers: OTOH, how is daytrading consistently profitable? As with any form of work or investment or trading, nothing, in monetary terms alone, is consistently profitable. But if one counts the learning experience as a gain, consistent profitability is achieved as long as one learns. How is daytrading different from gambling? The odds don't automatically favor the house. But in a larger sense, daytrading is a gamble. So is every day of every life. Are stock price directions really predictable? Barring unforeseen unpredictable events (i.e., the USS Cole sabotage), usually, yes. And especially in a bear market where valuation metrics are being redefined, judging those directions daily has far more success potential than the longer term buy & hold strategies that rely almost solely on past metrics and valuations.

To: Ally who wrote (2408)	10/29/2000 10:00:15 AM
From: booters	Respond to of 8925

How is daytrading different from gambling? I day trade but I do not consider it gambling. I do not gamble any more than any business venture is a gamble. I do my home work, I asses the pros and cons, I find a situation that puts the odds in my favor, I determine the risk versus the rewards and I invest. When I invest there is at least in theory an off setting advantage to somebody (other than the casino) and the company I have invested in. Being a business man also, I actually feel this is less of a gamble. I assume much less risk because it is so much more liquid. If I am wrong I can stop the risk at any time. There are many forms of investing. Daytrading itself has many facets. A vast majority of the day trading I see is a gamble and the trader is actually doing little more than gambling wether he thinks so or not. But that does not mean all of it is. Most any venture we enter into can be a gamble if not done properly. That does not mean all ventures are gambles. Just my thoughts, boots