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To: Bill Cotter who wrote (5111)	12/21/2000 4:46:25 PM
From: Jerry Olson	Respond to of 8925

Hi Bill average day's pay is based on your trading lots and your dollar goal for each day... we say let's make our "Days Pay" first..early..and then go elephant hunting later after the lunch time douldrums... as for 100K using intraday margin...i guess the sky's the limit...but most of the room looks for $500 to $1000 per day..more or less...we never talk about our actual buys and sells in money terms..it's no one's business.. everyone is making their living in the room, as far as i know...we are daytraders scalpers... your accountant & broker can help you with IRS info..you can elect to be a 475 daytrader, it has a lot of good stuff for a pro.. i use 1 computer with 2 monitors, and a back up computer for everything.. don;t need options, just learn to go short and long...it;s fun and it's easy... you just need to learn how to trade technically...you need live charts and quotes using QCharts.. and a real knowledge of candlesticks...etc etc anyway gotta run..it's my nap time<G> later regards OJ

To: Bill Cotter who wrote (5111)	12/22/2000 6:00:34 PM
From: Jill	Read Replies (1) \| Respond to of 8925

I'm in da room and find it really useful. I think you should only use a portion of your total capital. If you are trading 100K then you have 200K (margin) to trade with daily, but that would mean you should have a separate portfolio of much much more. The useful thing is Jerry watching the futures for us and keeping up a running monologue on stocks, their trigger points, price and volume...it helps you know when to get in and out. The point is also not to get greedy but to feel safe, cash each night, enter the day ready to trade whichever way... I have to figure out how to best do it but you don't have to do it everyday, and if you make your day's pay in the first hour then you can take time off and do whatever you please. The hardest thing is to control your emotions--to take your profits. You'll notice your emotions when you're in da room, and notice that on days you control them you make good $. I use FIdelity which is not the greatest, but anyway, most brokers should have downloadable transactions, downloadable into your spreadsheet for tax purposes. I haven't learned to short yet but Jerry says he will teach. He has taught other sin the room. Teresa's input is utterly invaluable--her ability to read the market nad her technical expertise are superb, really superb. The point is to set tight stops on either side (short or long)--your cmrc short should have had a sell stop, you'd have gotten stopped out when it reversed up....da room emphasizes this