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To: David Nelson who wrote (2490)	1/16/1998 1:52:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

David: The majority of Day Traders lose. The reason they fail can be attributed to the fact that they are weak in one or more of the areas below: 1) Financial Projections (short/mid/long term) 2) Trading System (mechanical and/or intuitive) 3) Psychology (trader's state of mind) 4) Execution System (software/data/broker) 5) Risk/Money Management System First determine which areas you are weak in, and try to improve them.

To: David Nelson who wrote (2490)	1/16/1998 2:08:00 PM
From: Power Player	Read Replies (1) \| Respond to of 12617

David, you need all the right tools, i have been trading for a lonnnng time and the key to trading is knowing about "sector risk" and "sector rotation" i have put a site together that allows the investor to ascertain the risk level of the sector that s/he is investing in before they commit to a trade, thereby eliminating a substantial amount of inherent risk. 1998 will be a "stock pickers" year and knowing "sector rotation" will be the trademark of this year as it has in the past 3. As an example look at this graph (from my site)http://www.securitytrader.com/sectordistrib101597.htm and you can clearly see that the market was RIPE for a correction prior to the October 1997 crash, likewise you can see that the current risk in the market today is minimal as shown here securitytrader.com it clearly shows that software, semiconductors, computers and oil service stocks are ready to be bought NOW! Also, if you simply want to have some succesful trades, try trading with the 13 & 26 day EMA's. i made 56 points on SUNW in 1997 trading only on the EMA crossovers securitytrader.com Good luck and happy trading PP securitytrader.com

To: David Nelson who wrote (2490)	1/16/1998 2:56:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12617

". My problem seems to be that the majority of the money to be made is in the first few minutes of trading at the open. Most stocks seem to open up on up market days and then drift downwards for the rest of the session. I hate to think of shorting after the open on an up market day. Every time I take a position at the close, the market seems to turn down at the open the following day." It could be you have developed a system or plan that you trust and follow. Maybe you should ask what would I want to see before I buy or sell? What would show me these things? Then test the past to see if what you wanted to see, would result in profits. I would prefer the more objective tools like TA. But, you need a plan, intutive/feeling are hard to discipline. "I haven't been able to successfully catch mid day moves. I tend to wait for more gain later in the trading session and usually loose. I also don't like to take a loss at the end of the day but I know that this discipline is key to winning. I tend to hold small losses that turn into bigger ones" Well you seem to break all the "rules"- The simple but truisms that bring sucess. Know yourself! this is the first thing you must do. Maybe you aren't a daytrader.

To: David Nelson who wrote (2490)	1/16/1998 3:22:00 PM
From: TFF	Read Replies (2) \| Respond to of 12617

David: Just a few of my thoughts: >>>>My problem seems to be that the majority of the money to be made is in the first few minutes of trading at the open This is your opportunity. >>>>> Most stocks seem to open up on up market days and then drift downwards for the rest of the session Consider shorting against the first move. >>>>> I hate to think of shorting after the open on an up market day Consider covering your short in the first hour and going long the same stock. >>>> Every time I take a position at the close, the market seems to turn down at the open the following day. Consider not taking on positions at the close. .>>>>I haven't been able to successfully catch mid day moves. I tend to wait for more gain later in the trading session and usually loose. I also don't like to take a loss at the end of the day but I know that this discipline is key to winning. I tend to hold small losses that turn into bigger one Be very selective in calling midday moves. Consider a stop loss strategy to eliminate your indecision when it comes to selling losers.

To: David Nelson who wrote (2490)	1/17/1998 3:50:00 AM
From: David E. Henry	Read Replies (1) \| Respond to of 12617

You have made the first step. Knowing your problem! The next step is to Do the right thing and not make the same mistakes. Make up some rules as you go along...write them down! Follow them religiosly and reward yourself with something you love each time you follow your rules inspite of the emotional imposters of fear and greed. After a time it will became easier and easier. Remember, make your own rules from your own experience and train yourself to stick to them by using incentives to anchor your behavior. You will be suprised how well this works!