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

To: TraderAlan who wrote (10940)	12/15/2000 11:17:58 AM
From: Apakhabar	Respond to of 18137

Alan, And I certainly don't mind pouring a little fuel on the fire to get more discussion going and keeping this thread alive. Absolutely the kindling of all scholarly debate. Now whether or not a bunch of dudes drinking coffee in their boxer shorts watching a computer all morning can ever be considered scholarly is truly a debatable proposition.

To: TraderAlan who wrote (10940)	12/15/2000 4:44:29 PM
From: booters	Read Replies (2) \| Respond to of 18137

I thought that I was sharing an interesting experience with friends I thought you were to Alan and I enjoy it. From my standpoint..... thanks. boots

To: TraderAlan who wrote (10940)	12/15/2000 9:37:37 PM
From: aldrums	Respond to of 18137

Alan, What can I say, I am sorry. I will respond in more detail sometime tomorrow. I was just expressing my opinion on your post(s), but it doesn't in any way reflect my opinion on your overall body of work of which I think is remarkable. Alex

To: TraderAlan who wrote (10940)	12/16/2000 10:58:19 PM
From: aldrums	Respond to of 18137

Alan, IMO there have so many posts regarding your book on this thread it is borderline hype and self-promotion, which IMO is still OK, and I knew I was going to catch hell for complaining from everyone but I did it anyway. It was just starting to bother me. I guess I am just longing for the days when there were many posts on this thread from a variety of traders regarding all types of trading. Being that you are the most frequent poster on this thread, and many posts are not even regarding your book--it was a stupid idea. I am willing to admit I am wrong and I hope you accept my apology because I do admire you as an educator and hopefully a trading colleague. It wasn’t meant as a personal attack, I was just trying to tell you that someone might see your posts in a different light, although I didn’t do it with any tact. I guess I should have added that happy face at the end. :)

To: TraderAlan who wrote (10940)	12/16/2000 11:13:24 PM
From: aldrums	Read Replies (1) \| Respond to of 18137

Regarding scalping I do have a different opinion than you do, albeit one borne out of much less experience and study. Also, I am not an educator such as yourself, however, I have read all your posts regarding scalping/short-term trading for the past few months and do not agree with your view. My view is best summed up in the third paragraph of Apakhabar’s post #reply-15034346. Let me add this: There is a saying that there are two types of music, good music and bad music. When I was growing up in the 70’s and Disco started emerging there was a backlash against this style of music by many of my musician friends. People would spray paint “DISCO” on stop signs and the slogan became “STOP DISCO”. It is true that Disco represents a very simplified form of music, especially from a drummer’s point of view. At that time it was new and my friends were afraid of it. They all felt that somehow all popular music was going to disintegrate into this simplified, somewhat hokey style. Anyway, looking back the truth of the matter is that there are lot of bad disco songs, but there are also some good ones. I believe this is true for all styles of music. There is good Classical and bad Classical, good Country and bad Country. For every genre and are great and bad examples. Personally, I am a rock musician, but I love all styles of music and I am not prejudiced towards any particular style. So let me take a leap here and say there is Good trading and Bad trading. It doesn’t matter what time frame/style you are trading, all the rules still apply. I don’t think any particular style should be disparaged or negated. You can blow out your swingtrading account using too wide of stops the same way you can blow out your scalping account by racking up too many commissions if you don’t know what you are doing. Perhaps your use of the word “Psycho” referred to the fast reaction and execution speed a scalper must have in order to turn a profit, or the quick-paced environment in which this trader must operate. If so, I apologize once again, I thought you were referring to the actual mentality of the traders who practice this style. I am a member of the Realitytrader group and all I can say the traders who run it are some of the sanest people I have ever met. Of course, reading Threei’s recent posts it calls into question whether we are scalpers at all. But I think I can safely say we are trading on a shorter time frame than yourself. As you know I spent a year studying trading before I actually started. I was lucky enough to discover this thread over a year ago, I have read many books on TA and trading, studied countless trading websites including your own, and I have watched almost every trading day since February of this year on trading software, and I have paper traded for over six months. I also have figured out who the real players are, and who the shysters are. Last and most importantly I have figured out this: How not to blow out my account and protect my equity, no matter what style or timeframe of trading I pursue. Correct me if I am wrong but I do not think I am the average newbie. At this point I feel confident in pursuing with almost any trading style, but I prefer scalping/short-term trading because I feel I can control my risk better, use tighter stops, and concentrate on price and volume action instead of derivatives of that action. You mentioned that most successful traders start out on a larger time frame and than move on to a shorter one. This may be true, but it seems to me with the current technology, and assuming decent liquidity and proper preparation it would be safer or at least as safe to start the other way around with NASDAQ stocks. To mention LBR’s viewpoint again (uh-oh!), she mentioned in New Market Wizards the stock movement is similar to the weather, the longer the time frame the less accurate the forecasting. I believe this, and I am more comfortable anticipating what will happen in the next minute than in the next five minutes and that is why scalping suits me so well. I am hoping once I understand price/volume action in a short time frame I can move to a larger one. It is a fact that with scalping there may be more of a drawdown in the beginning, because execution skills are more critical and those commissions do add up. This is the point where I am at now personally. On my first trade last Thursday I accidentally bought a 100 more shares of stock when I was trying to sell it for an almost certain profit. Oh well! Regarding the solitude of trading I think it would be great if you started your own chat room that used your trading methods. It is a great comfort to me knowing that I am trading along with a group of traders using the same methods as I, knowing I can get an answer from an experienced trader within a minute if I need one, and knowing there are many sets of eyes scanning the market for the same setups. I have never felt alone for a minute. Internet Relay Chat is one of the greatest inventions ever, IMO. This may be one of the reasons I don’t post on this thread as much as I could, but I will keep your suggestions in mind. Also, after I am consistently profitable I will feel more comfortable in expressing my opinions on this thread, after all, I may be completely wrong about everything! :) Time will tell. One thing is for certain, I will keep trying even if I have to trade 25 shares at a time with Interactive Brokers so I can stay in the game. Alex