Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Richard Estes who wrote (2363)	1/12/1998 8:59:00 PM
From: dpl	Read Replies (2) \| Respond to of 12617

I know this is going to start a fight so be gentle with me :-) I cannot see how a daytrader should have any "profit plan" The danger is that he/she will over trade to try and meet his/her goal. To me a trader trades what comes along and waits for the next trade never trying to create one because he needs another one. David

To: Richard Estes who wrote (2363)	1/12/1998 10:37:00 PM
From: TFF	Respond to of 12617

Richard: That definition would apply to any short term trader. As far as business plans are concerned, I suggest that they be used as a guideline. I would not recommend trying to achieve profit goals to the detriment of your trading system. As far as loses are concern I am not a typical trader. I did not start out Day Trading, but Position Trading. I have experienced drawdowns of 6 and 7 figures. I would suggest that it has to do with what the individual is trying to achieve, how much desire he/she has to succeed, and what type of risk tolerance he/she has. How much a Day Trader should expect to achieve from trading will be a direct function of his/her ability, as well as profit goals.