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Strategies & Market Trends : Daytrading Psychology -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (40)	12/3/2000 5:02:41 PM
From: Dan Duchardt	Read Replies (2) \| Respond to of 104

russett, The long list of "musts" in your message runs counter to the thinking of many of the best traders in the business, who believe that all of what you suggest we "must" know is reflected from one moment to the next in the price and volume action of any stock. In fact, knowing all there is we think can be known about a stock is one of the things that can influence us to buck the trend and dig ourselves into a hole. There are hundreds, even thousands of stocks that are now behaving differently than they have over the entire course of their lifetime. I have a few longer term positions in some stocks that I just "know" are in a strong business area and are going to do well someday, and that have a history of huge runups following every decline. Had I not known that and gotten rid of them in the early stages of this recent carnage, I would be able to buy them really cheap now, or when the price action started to show buying interest telling me that others know what I knew all along. Dan

To: russet who wrote (40)	12/4/2000 2:45:34 AM
From: Brandon	Respond to of 104

I think back to an interveiw I read with a trader from the CME, he was at the time the largest lumber trader on the floor. And one of his comments (and he was serious) suggested he didnt know a thing about what he was trading. He said, I always wondered why they pay more for lumber thats painted green. For an investor and position trader it is pretty important to know your stock and as much info as you can. However, for a short term trader careful attention needs to be paid to how its moving and not a lot else. B