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

To: Dan Duchardt who wrote (15131)	2/3/2002 6:19:54 PM
From: exdaytrader76	Respond to of 18137

Investors and traders are both market participants. I don't see how you draw the line. If you buy a bad "investment," can you sell it? Does that then make you a trader? All market participants are trying to make money, thus "speculating." There is no "assurance" of future price action, thus the speculation. Those seeking "asurance" get a debt security where at least some entity is "assuring" a return. Go Pats! (As in, please no blowout)

To: Dan Duchardt who wrote (15131)	2/3/2002 11:28:55 PM
From: KymarFye	Read Replies (1) \| Respond to of 18137

It's very difficult for me or to identify the precise moment at which investing turns into speculating or vice versa, or, more generally, to separate symptoms from causes and chickens from eggs in this discussion. Is volatility what makes this environment hostile to investment, or is the hostility of this environment to investment (average valuations far above historical norms, an uncertain economic and political situation, etc.) the source of volatility? It's seems at least as reasonable to me to see trading as a rational response to bad investment choices (indeed, that was my excuse, until I realized how much I liked trading) as to see bad investment choices as the result of too much trading.