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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: topwright who wrote (310)	4/22/1998 8:50:00 PM
From: William W. Dwyer, Jr.	Read Replies (1) \| Respond to of 3216

Raleigh, I follow several internet stock chat rooms during the day. Having only been trading for one year now, I am still learning and wouldn't feel very comfortable trading on my own. I've tried that and lost money. My favorite place to go is mIRC channel MTrader, sponsored by Momentum Trader Online (http://www.mtrader.com/). This is, imho, the best place to get good solid, conservative training. I recommend it highly. They email you a very detailed training manual (approx 65 pages or so), and email you a comprehensive trading outline each morning before the market opens. This gives you a plan to start with. Traders and the leaders give you comments and analysis constantly during trading hours, and you can ask any question you like. During the slow lunch hour they usually have an online training session, interactive with questions and answers, email you a complete transcript afterwards. After the market closes they quickly email you a summary of all the trades posted by member traders during the day for you to review and the chat-room leader (Ken) emails a complete summary and analysis of the day's trading with some good market commentary. What I like about the place is the polite, dignified atmosphere. The room is very well organized and well run, everyone is treated with respect. It's very refreshing in every way. The leader is quite cautious and conservative, fits my style perfectly. He calls all the buys, each for particular type trader depending on your own feelings and qualifications. He calls recommended entry point, stop loss, and two exit points (usually a short term/conservative exit and a longer term more aggressive exit point). No stocks are ever hyped, and they use only certain specific proven trading methods. Just buying stocks and hoping they go up is not recommended at all. If anything, they are too conservative, but that suits me just fine. The leader never gets emotional about a stock or a member. There are no temper tantrums, no one is "booted" out, and it is run in a very friendly but business-like manner. All trades are day trades designed to be closed during the trading day. Toward the close, some are specifically called as overnight holds for aggressive players looking for a quick morning gap up. I have been there for a few weeks now and feel that probably about 80% of the plays are good, solid calls. And the bad ones don't hurt because Ken helps you get out quick. Big thing there is always watching your stop loss point, keeping it under control. I feel I have learned more there than I had learned in the entire year prior to being there. I am comfortable and making good, steady money. I think you might like trying it, too. They offer a free one-week trial membership and I think it's worth a look. As far as "banging out" on the down-tick, if I am long in a position and I see steady selling, see the momentum pause, or hit my stop loss point, I get out immediately (try to, anyway) and usually SOES out for fastest and safest execution. I don't think about it, don't hope something will happen. If the stock is not doing what I thought it would do, I take whatever I can get and get out quick. More about that in the training manual they give you. There are several other internet sites also and I will be happy to guide you to them if you like. This is my all-time favorite, though, and I strongly urge you to consider checking it out for yourself. Personally, I think CyBerTrader AND a good internet chat room make a very good combination. That's why you need either two pc's or one very powerful pc with at least two monitors. I hope this helps. You sound like you already know a lot. Good luck to you. After all my recent comments about "hyping," I hope no one considers this such. I was just trying to respond to your inquiry and tell you about a place I know and like. To all, please forgive my enthusiasm. WD

To: topwright who wrote (310)	4/23/1998 1:40:00 AM
From: Darren	Respond to of 3216

First, sell on the Bid. If you are really in a panic, sell one tick below the bid. Don't use preference, just ISLD or SelectNet, left arrow (one tick), [ENTER]. You are essentially giving the MM a teenie for getting you the hell out of the stock. If you're really desperate, give him an 1/8th. Then there is the always dangerous "waiting it out." I have had mixed results -- long positions, I usually get flat. Short positions I usually get screwed. So my rule has been if I'm wrong and long, hold on. Otherwise get the hell out at whatever cost. I also use Futures to tell me if this is a blip or a breakout. Every time I got smashed, it was because of a breakout -- three times now. And I would say that 90% of my losses have come on less than 5% of my trades...learn and burn, there is no room for ego in this video parlor...

To: topwright who wrote (310)	4/23/1998 7:51:00 PM
From: Darren	Read Replies (1) \| Respond to of 3216

Re: Chat Room Cyber-Corp has set up a chat room for us, from their servers. I go in there once in a while to find no one...one great feature of Block Trading's chat room was a guy named Scoop who sat in front of a Bloomberg terminal all day and answered news questions people posted to the chat room. He also posted headlines -- then they moved to a talker system over the internet, where he just read the news verbally and then typed it into the chat room. I don't use the public chat rooms; too much noise, not enough knowledge. I've seen MTrader and #Daytraders, and it seems there are a lot of, shall we say, questionable calls made by the supposed pros... The other thing about Block Trading is that they have a star trader named Stephanie who used to sometimes get on and make stock calls. She was right a lot of the time and turned out to be a valuable trainer when dealing with certain patterns. Unfortunately, Block took their chat room off the internet, so it's no longer available except inside the Block offices. Hopefully we'll get CyberNews soon through the software and then maybe we can coax someone from the Cyber-Corp trading room to type in their trades to their Chat Room so we can follow along...I used to find this useful when I couldn't find anything to trade...