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To: TFF who wrote (1323)	12/2/1997 11:58:00 AM
From: Don Green	Read Replies (1) \| Respond to of 12617

Gap up or Gap Down...that is the key! Since no one really knows what to expect overnight, espically as the market becomes more Global..Day Trading allows me a good night's sleep. In the morning I will often kick myself for not holding overnight. Like this morning.. I shorted Dell late in the day, but covered for a small loss when the stock didn't sell of.. I could have made a quick $2K this morning, but then I could have loss twice that..if the market had popped this morning... Hindsight still looks good... Regards Don

To: TFF who wrote (1323)	12/2/1997 12:24:00 PM
From: Richard Estes	Read Replies (2) \| Respond to of 12617

But what is some good examples in the literature of anyone following the "close all positions" method in stocks? Know why it might apply to futures, but who in the trade follows it on stocks? You don't have to follow someone, you can make your own path. But I have never seen that advice applied to stocks.

To: TFF who wrote (1323)	12/2/1997 4:22:00 PM
From: TFF	Respond to of 12617

THE FINAL FRONTIER DEFINED: Message 2855023

To: TFF who wrote (1323)	12/2/1997 6:11:00 PM
From: Morpher	Read Replies (1) \| Respond to of 12617

Re: IMHO Day Trading offers superior opportunity for higher ROI vs Position Trading or Investing. Interesting. I agree that diversification is a necessity for position trading and investing. But I disagree that day traders' ability to have a concentrated position is a reason for a greater ROI potential. Position trading and diversification have their good sides too: - You don't need as much trading skills because you don't have to trade stocks that are currently running and everyone is trying to get a piece of the action. - You don't have to watch the market all day, it's much less of a full time job. - You don't necessarily need the greatest quote system or the best broker. Sure, L2 quotes will help but they aren't as critical. - Your total amount of money invested can be much greater. Not only can your position in a single stock be bigger than 1000 shares, but you also have multiple positions. - You can take advantage of more than intraday trends. - You can play the news. - You can scalp the spread. Those fractions of a point can add up quite nicely. - You can hedge against market downturns by going market neutral. - If you're a position trader that can't choose stocks any better than a dart thrower but you're an OK trader and you diversify, you won't lose your shirt in contrast to a not very good day trader. Hell, you might even be ahead. - I don't see how a good level of diversification (5-15 positions at a time for me) would hinder one's ability to get a good ROI.

To: TFF who wrote (1323)	12/2/1997 6:25:00 PM
From: xstuckey	Read Replies (1) \| Respond to of 12617

Hi irby "IMHO Day Trading offers superior opportunity for higher ROI vs Position Trading or Investing." What annual return do you think is reasonable for a day trader? I ask this from curiosity, as I suppose from the definitions I am a position trader. In fact I do almost everything that you suggest not doing. I trade a single stock (Intel), and am always 100% long or short. My average number of trades (position reversals) per month is about six. I guess each of us has his own threshold of comfort. Best Trading, X