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

To: Duke who wrote (24922)	11/28/1997 6:30:00 PM
From: Tim Luke	Read Replies (4) \| Respond to of 61433

Duke, I will try to email you tonight or tomorrow but I can only give some of the tools I use. It is almost impossible to teach day trading because it is more physcological then technical. It takes alot of nerve to know when to take a profit or loss and NOT get GREEDY. But once you master this you can make a nice living on a min. of 25K. But if you have more to invest you can do very well, if I want to take a month off I will just to clear my head. But it takes hours and hours of research, one thing you must burn into your head if you want to be a day trader and that is NEVER hold a position overnight.

To: Duke who wrote (24922)	11/28/1997 9:18:00 PM
From: Harold S.	Read Replies (1) \| Respond to of 61433

It seems to me, and I may be wrong, that Tim once had his own thread called "Ask Timmy" or something like that. Maybe he would consider this again to move all this chatter to his own thread. And I am just wondering if it hits 30 and he is out for good as he says he will be if he will be off this thread for good. I am just wondering. Not that I even want him off the thread for good, because I do enjoy his input, but am just wondering why he would bother if he was really "out for good."??

To: Duke who wrote (24922)	11/29/1997 9:21:00 PM
From: SLN	Read Replies (2) \| Respond to of 61433

Duke Further your request for advice to Tim to become a Day Trader, I offer to following suggestions: 1) Only trade in stocks with high volume, ie. in excess of 1 million shares per day; 2) Only trade shares in companies that you would want to hold on a long term basis, ie. a company whose fundamentals are excellent and long-term growth prospects are high; 3) Only trade shares in companies that have experienced significant downturns from their 52 week highs, ie. the company is at least 10% if not substantially more, from their 52 week high. This minimizes downside risks. Most of the time, if not all the time, the market acts like lemmings. Many will jump off of cliffs (sell) because others are doing it. 4) Only trade in companies that you understand their products and prospects. 5) Do not chase after a stock. Let it go if it is going up. 6) Buy at least 1,000 shares of a company. Anything less is a waste of time and effort. If you cannot afford 1,000 shares, you should not be in the business. 7) Tim's response that you can earn $25K a year is conservative. Many I know have doubled their portfolios in less that 5 months. On the other hand, some I know have lost it all in 5 days. Therefore, it is important to have a stomach of steel. 8) Hedge, Hedge, Hedge. 9) Great current prospects for Day Trading are ASND, LSI, VLSI, ATML, and COMS. 10) Terrible prospects would include CSCO, MSFT, and IBM. Hope you find these points useful. SLN