To: TFF who wrote (912 ) 11/10/1997 12:47:00 PM From: Joseph Francis Torti Read Replies (1) | Respond to
Irby, Thanks, Your note is sincere and I am only posting my experinece on daytrading. I like to hear from daytrading winners and be able to learn from them. Like Chris Block said successful Day Traders are too busy making money to whine on the board. This may be true and maybe their should be a thread for successful daytraders and I for one would be interested in reading that thread and how they are so good at daytrading. I was even tempted to copy one of Block's successful trader to get my confidence back but this guy trades 1000 shares of Microsoft, Intel and big high tech stocks so it was way out of my league with my pitiful $40,000 buying power. You have to be able to get at least 700 shares of stock so that if you can get 1/16 profit you will at least cover the commission cost. Irby I agree with you that I should have put a stop lost on GE , but after taking stops of ¬ to « on my daytrading trades it got to a point that I had to buy a good long term stock and hold it, my confidence was shot to hell. No matter what, you lose your confidence you will not daytrade successful. And GE could have gone down to zero but in the long run I would get my money back. I think Block has over two hundred active account at the Boston office and there is only 8-to 10 daytraders I see since I started so most of them must be trying to get back their losses back long term. The traders at Blocks are mostly young and single and they do not have the pressure the people who is trying to make a living in daytrading. So emotion is the big part of daytrading. The guy above who trades show no emotion at all day in and day out. And he made $10,000 the day the market went back up 200 plus points after the 554 plunge. I ask him what drugs he was on and I wanted some, the place got a laugh but he looked at me very serious and he didn't think it was funny. I guess to be a good trader you have to be introverted , with no personality and a a-- hole. (G) JOE
