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

To: Raymond Duray who wrote (15110)	2/3/2002 8:45:24 AM
From: TFF	Respond to of 18137

Oh brother.

To: Raymond Duray who wrote (15110)	2/3/2002 9:56:33 AM
From: shneed	Read Replies (1) \| Respond to of 18137

RD, You must have lost a whole lot of money attempting to engage in the "dirty" business. Best of luck, shneed

To: Raymond Duray who wrote (15110)	2/3/2002 9:58:56 AM
From: Jordan Levitt	Read Replies (1) \| Respond to of 18137

Love them or hate them, they provide liquidity and over the long run they help to arbitrage out mispricings. If you are a fundamentalist, traders should worry you very little, for over the long run, they have virtually no effect upon prices. FWIW

To: Raymond Duray who wrote (15110)	2/3/2002 10:03:33 AM
From: LemonFlavor	Read Replies (1) \| Respond to of 18137

Ray, what does this have to do with daytrading fundamentals? Why are you on this board? Secondly, why are you even on SI given the fact that buying or selling securities is destructive? Thirdly, what is your career? Maybe you could give us an idea of what a constructive career is.

To: Raymond Duray who wrote (15110)	2/3/2002 10:38:56 AM
From: KymarFye	Respond to of 18137

"The problem with trading is that it is a non-productive and generally detrimental economic activity that is more destructive of society's wealth than accretive. Traders are trash. They are parasitic middlemen who contribute little or nothing to overall economic activity." I feel fairly confident that, through my commissions alone, I've ensured that several of my brokers' children will be able to attend expensive universities where no doubt they will be schooled in post-Neo-Marxist literary criticism and other economically productive skills. If things work out further, my future commissions may enable the purchase of luxury cars and bathroom renovations, which, in the words of one or another Bush or was it Baker?, can only mean jobs, jobs, jobs.

To: Raymond Duray who wrote (15110)	2/3/2002 11:32:34 AM
From: WaveSeeker	Respond to of 18137

Wow, you really went out on a limb there. Do you wear sweaters and say "Courage" every night at 7 pm?

To: Raymond Duray who wrote (15110)	2/3/2002 1:20:50 PM
From: hypostomus	Read Replies (1) \| Respond to of 18137

Dear Mr. Duray - There are undoubtedly innumerable examples of egregious exploitation of the trading process in every market. However, they do not vitiate the value of short term speculation to traders on longer time frames. I presume from your remarks that you are an investor, or at least a position trader. If you look at an actively traded issue on a one-minute scale, you will observe the activities of traders scalping for 5 cents or less, daytraders "swing trading" for 15 cents, daytraders "position trading" for 50 cents, true swing and position traders making entries and exits for longer holds near the high or the low of the day, and institutions trading big blocks for the funds they manage (possibly including one that you are in). The trading process is symbiotic on all time frames. The exiting five-minute scalper gives me the entry I need for a fifteen minute trade. My exit gives the intraday campaign trader his entry. Both of us give you a nice entry point for you to enter a long hold. Active traders generate volume, which means that specialists and market makers can make their daily bread with a lower spread. By competing with them on ECN's we help to further reduce the spread. The translates into more profit for you when you exit your longer hold. Our volume makes the stocks you hold look attractive because other potential investors perceive activity in it as evidence of potential movement. The market is a fractal phenomenon. Do not condemn us because we choose to trade on shorter time frames. Does the buy-and-hold investor consider the campaign trader a vulture? Does the campaign trader consider the swingtrader a predator? Does the swingtrader consider the intraday position trader a maggot? And so on down the food chain. Each of chooses to trade in that time domain of the fractal market where he is the most comfortable. We are symbiotes, not parasites. No higher order creature exists that can live without them. The market by analogy is healthier because of them. Perhaps one of Victor Sperandeo's books is on your shelf. Read it for an eloquent defense of speculation. And remember, hypostomus plecostomus keeps the bottom of your aquarium clean. Without scavengers, you would be up to your ass in REAL trash. Best regards. - Mike