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

To: Bald Man from Mars who wrote (60)	12/2/2000 6:55:43 PM
From: LawStor	Respond to of 104

I have been reading the board and the thoughts hereon about Day traders and emotions. I took a look at CASH and to me it doesn't appear to be that great of a daytrading stock at least to me, unless you like to buy and hold or watch paint dry. It looks solid but as a daytrader if I had to wait on a small volume stock like this I would be in a looney bin or poor house. Movers and shakers are what I like. This is to me a true day traders mentality and necessary to make a living. Not saying CASH will not make money but...it's just a little to slow for me as I care not to buy large blocks of a stock with small volume. You may want to take a look at RATL, JNPR, BRCM or AMCC. I unlike other here never use a stop. Before I buy, I know where I want to enter and know where I want to exit for either my gain or loss. The only time I stay longer is when I, see a momo or if the MF OSC is coming in heavy first dip and see you later. Take RATL, an example I played 7 times on Friday after playing it twice Thursday. I did read some news and watched the heavy accumulation since Monday last before taking a position. As far as DD on this stock, or any other, I don't care as that again is not my job as a daytrader. My job here is to take and make money. I leave some on the table sure, do I take losses sure again, but am I still in the game yes. Am I new to this game I still think so as I am always learning with each trade. Do I try to take my emotions out of the game. Yes again but, I do have a hackie sack beside my desk that I, have tossed in anger against the wall on occasion. No repairs needed. Do I take a walk in between trades sometimes yes to clear my head win or lose, it is good to shake off the highs and lows of this as a career. Regards, Elwyn