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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (67990)	3/11/2001 8:03:31 PM
From: RockyBalboa	Respond to of 122087

Floyd, The Sammy Chu type should read this fine book first before bragging to be online "In Hawaii, (I) had a 24K modem": amazon.com images.amazon.com "Perhaps the best way to apprechiate what all this means is to imagine a craps table at Las Vegas -- the high-rollers table, complete with the scantily clad cocktail waitresses, the men in dinner jackets... the whole bit. ... But let's add something else. Let's imagine that behind these Big Mo traders are hundreds of other players, all pressed up against them, each one frantically craning to place bets as well -- all trying simultaneously to see not only what the heavy hitters are doing but what everyone else at the table is doing as well. And know what? We haven't even gotten to the day trading part yet. All the back-and-forthing and nonstop second-guessing around the table is just what goes on amongst the pros. To see what the day traders themselves are doing, you've got to go to another part of the casino -- a whole separate gridiron-sized room that you normally find filled with people feeding coins into slot-machines...only instead of slot machines the gamblers are all seated at little desks, munching pizza slices and swilling down Cokes while peering into computer monitors on which are displayed (are you ready for this?) graphically jazzed-up mathematical abstractions representing the current state of the chaos back at the high-rollers table -- where, as you might have guessed by now, the high-rollers are not only trying to fake out each other but are constantly sneaking sideways glances at a wall filled with computer monitors depicting, in a thousand flashing lights and flickering numbers, the current state of the chaos over in the day traders' room. That is the game in which you'll be wagering your money, a sky's the-limit craps game driven by the odd rule that anyone placing his bet can change it at any time -- only you're not even in the room! You're down in the hall in the slot room, along with thousands and maybe even millions of other people like you, trying to place bets on the outcome, one goal of which is for the high rollers to get all your money. Still want to play? ... In short, day traders are constantly at the mercy of the rigged-up and crash-prone technology of the Internet. In a game in which minutes and even seconds can make a difference between a profit and a loss, the day trader in his paneled basement home office never knows when the Windows operating system on his desktop PC will freeze up -- perhaps at the very instant he tries to place (or cancel) a trade. And just outside the walls of the house lurks the whole collosal, crash-prone Internet itself -- a vast network of workarounds and make-do quick-fixes ... all of them patched together to keep the old AT&T telephone system, built with copper wire for voice transmission only, functioning in the digital age. And if all that isn't bad enough, at the opposite end of this rigged-up arrangement is the day trader's online brokerage firm, besieged with its own every multiplying computer problems and crashes. Now given all that, if you still want to play, here are three approaches that seem to be working at the moment..." Chr.