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

To: Peter who wrote (28509)	12/22/1997 12:36:00 AM
From: sepku	Read Replies (2) \| Respond to of 61433

-- OT -- >>>When you day trade if you have 5 gains on a stock and 2 losses....can you deduct the losses or do you have to eat them given the wash rule?<<< I don't even think about the wash-sale rule when I day trade. Two trades in under 30 days, and you can forget the write-off, so it's really not even a consideration unless you only touched the stock once in an entire month. I'm not sure by what you meant about 5 wins, 2 losses. As long as you manage to keep your winners as the majority % of your trades, you should be doing fine. >>>Do you have a good day trade system?<<< I know this sounds crazy, but I don't really have a "system". Since fundamentals are rendered useless, all you have to go by is TA and rumor/news. I basically use crowd psychology to determine my moves. I try to run to the prevailing side of the line between the bulls and bears before everyone else does. I think it really comes down to how good you are at such trading. But I'll tell you what, in 1997, it's my long-term holds that have hurt the most. CYMI, NOVL, ASND, ... Style Pts.