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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (2352)	1/12/1998 7:09:00 PM
From: Eric P	Read Replies (2) \| Respond to of 12617

Irby: <<The whole idea of being a successful Full Time Day Trader presumes that he/she has the ability to trade intraday and meet or exceed the profit projections that he/she has set out in his/her business plan. There would be no point in holding positions overnight, even if it were a profitable strategy.>> I disagree. The whole idea of being a successful Full Time Day Trader is to make money. What if it were possible to double your "business plan profit projections"? Would there be "no point" in doing this? I am not suggesting all daytraders begin holding overnight positions. However, if a sound strategy can be implemented which, for example, could add 50% per year to your return ==> Then potential risks should be weighed (i.e. perhaps only carry 25% max of account value home overnight, etc.) and the strategy employed. A daytrader has nothing to be ashamed about if he/she carries an occasional position home at night. However, he/she MUST have educated themselves on the potential risk & expected return, and proceed ONLY when the probabilities and risk warrent the added exposure. Prudent overnight trading can be justified, ==> gambling, wishful thinking and taking unwarrented risks is a losers game. Unfortuneately, most traders likely choose the later... Happy Trading, -Eric