Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David N. Jones who wrote (11888)	2/17/2001 11:16:48 AM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

David, <Thats fine but why write a book and give seminars sharing your knowledge and experience with the crowd?> During a presentation last year, I asked the audience to look to their right and left. Then I told them they had just seen the faces of those who's pockets they were trying to pick. I did have one or two in the group that responded in similar way as you. They got angry that I would make such a statement. But almost everyone else understood the point that I was trying to make. Whether we are taught to be nice in sunday school or by our spouses, successful trading does require a predatory instinct that most of us lack. We need to overcome our sense of group and act very independently when we trade. It's nothing personal. The audience is not an ugly crowd that I'm trying to criticize or ridicule. My job as a teacher is to invoke realization in my students. I'm not into the happy-happy joy-joy way of doing it. That to me would disrespect my audience greatly. You can personalize this if you wish but that's a waste of both of our times. You're stuck in this linear mentality that somehow I'm attacking and ridiculing my students. That has never been the case. I want every one of them to succeed. There's already enough BS out there passing as knowledge and here you come asking me to go make that pile of horse manure higher. Alan

To: David N. Jones who wrote (11888)	2/17/2001 11:39:09 AM
From: exdaytrader76	Read Replies (1) \| Respond to of 18137

It's not very nice, but it's true. The scalpers I see making the most money are on the other end of the seemingly bad fills. They are buying on the bid and selling on the offer sometimes 3-4 levels out of the inside NBBO, because they are taking advantage of panic buying and selling, positioning themselves on the other end of the "dumb money." Not nice, but true. Of course an instructor teaches to the dumb money. Virtually everyone was dumb money when they began trading. The idea is to get better, and you get better when you learn the truth.