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.

Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Ruyi who wrote (48611)	3/22/2001 1:38:18 PM
From: Lola	Read Replies (1) \| Respond to of 62347

Well I wouldn't make him out to be a God or anything. Remember when every idiot in the market was making a killing the first 4 months of 2000 ... Nicky was busy losing his ass in LDM. The stock tanked bigtime right after he went long on it close to the $6 level ... he was into LDM in a big way when all the bad news started coming out and he didn't cut his losses until it was too late. Go back and read the posts on his short lived daytrading thread. Everybody is right at least some of the time ... the key is to know who is good at what and to figure out a system that works for YOU not anybody else. Lola:)

To: Ruyi who wrote (48611)	3/23/2001 7:40:00 AM
From: the Chief	Read Replies (1) \| Respond to of 62347

I did use stops( thanks to your tutelage) buy and sell nothing worked . No sooner did my sells get hit then wham back up or no sooner did my buys get hit then wham plunge.Whipsawed to the extreme and insult to injury I had no less than 5 stocks halted within hrs. or next morning on open . Nicky's comments if one listened my have made one money by doing nothing. Doing nothing preserves capital it doesn't make you money. Many daytraders that became daytraders in the last two or three years had never experienced a massive decline like this before. So many did not no how to handle trading during this kind of market change. The best and easiest approach is to take less profits. During the last 3 months I had increasingly reduced the amount I made on quick flips. At the sametime (I am a lousy shorter) I found that shorting was far more profitable, and for the first time in many many years I carried a short overnight.. I copied BB's approach to shorting and became a better shorter (I'm still lousy). The longest time I was in a "long position was about 3 hours, but my average time was around 12-20 minutes. I haven't made a whole lot of money in this market, but I have lost none. My LT acct has suffered somewhat, but I have made it up by doing small daytrades. I have concentrated exclusively on the US market because of its liquidity and I owe my "neutral" earnings to one stock in particular XOXO on Nasdaq. SCMR is now helping me out tremendously. I wish yo had mentioned this before Dagan, because the only way you can lose that much money is repeating an error. Not trying to be brutal here but trying to be honest in an assessment. Anyway, assuming things haven't cleaned you out, I think we can all make some change in this next ralley which started yesterday. the Chief