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

To: Ally who wrote (10518)	10/29/2000 9:39:05 PM
From: gaj	Read Replies (1) \| Respond to of 18137

actually, daytrading has been around forever...richard wyckoff discusses it in some of his books (esp. under the pseudonym of rollo tape) in his books of the 1920s... in future books, wyckoff espouses holding positions for longer periods of time, to maximize returns, but trading and closing positions - and NOT as brokers - has been around for a long time...

To: Ally who wrote (10518)	10/30/2000 9:21:44 PM
From: Dustin	Read Replies (1) \| Respond to of 18137

Re: Overnight Risk I don't mean to carry on a dead-end debate, but there were a few things that I disagree with in your post. I'm a strong believer in not holding overnight, and it's not just because I am following the "gospel". I think it is unproven as yet whether holding inventory overnight actually increases risk In my opinion the extra risk comes from the possibility of a trading halt on bad news. It would be a rare occurrence, but it could hurt big time. So, if you're a day trader, you could still react after regular hours It doesn't really matter that direct-access platforms are available until 8pm because they can't help you in a halt. I know there are also halts during regular hours too, but much less frequent. Day trading is a relatively recent pursuit, and only tests conducted over time would prove whether being flat at the end of a trading day is really the correct strategy to control and limit risk. To me daytrading is all about making high probability/low risk trades using instinct and TA. Just hoping that the stock will gap in my direction doesn't seem like a sound business plan. It assumes that there is no continuity in a stock's movement from one day to the next. I doubt anyone here assumes that. It's just that most of us don't know a high probability/low risk way to trade gaps. Dustin