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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. who wrote (24758)	11/26/1997 7:30:00 PM
From: Tim Luke	Read Replies (2) \| Respond to of 61433

Roger, The hardest thing about day trading is knowing when to hit that buy and sell key. Take today for example I bought novl for 9 1/2 and sold it during the interview with the ceo on cnbc for 9 9/16. It only took a few seconds for it to drop below 9 1/2, it was a 300$ profit in about 8 minutes. My point is you have to know when to pull the plug or you can get stuck holding the stock for several days of eat the loss. I will take a loss almost everyday but when the day is over I will have made atleast 300 on a bad day and as much as 5k on a great day. The great thing about day trading is if the dow is up 200 or down 200 is great for me. I never wake up and see the S&P down 10 points before the bell and get nervous, when I see this I know its going to be a great day full of high volume and volitale stocks. This disadvantages is taxes but I look at it this way if I'm paying taxes I know I'm making money. Don't get me wrong the first 6 months I lost my ass on almost every trade before I got the feel for trading. But know I don't really follow charts, p/e ratios ect ect. If a stock falls 5 or more points today I will be all over it tomorrow. I'm nothing more then a scavanger looking for the prey. But it sure beats having a boss or a job that I hate going to everyday.