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

To: BrooksR who wrote (430)	4/29/1998 8:35:00 AM
From: William W. Dwyer, Jr.	Read Replies (2) \| Respond to of 3216

Hi, Brooks You really need to visit the #MTrader chatroom to see how it is. Initially, prospective plays are outlined before the market opens. Actually, some plays occur BEFORE the open. We often take positions in morning gappers prior to open by buying on SelectNet, or well sell positions taken at end of previous day and sell before the open if there is a big gap up indicated. This occurs rather frequently and could, in my opinion, be the only trade you need to make for the day if you are very selective in the stocks you play. He shows you how to do this and profit consistently. The realtime calls almost always modify the early morning plays. After the market opens, during first 5-10 minutes the leader, Ken, analyzes the market and tells us what to expect for the rest of the day, changing our initial strategies somewhat depending on what conditions the market seems to be giving us. This ability to change ideas, or modify entry and exit prices, is very valuable. You cannot profit consistently unless able to anticipate and change with the market. He also calls each play with a number 1-10 to indicate the "type" of trader each call is designed for. Beginners stick to #1-3 trades, average traders may prefer #5 trades, the better traders may prefer #8-10 trades, and so forth. Excellent approach. Each trade is also given a specific stop loss (very specific), a short term profit exit point and a longer term exit profit point. Always a day trade, though, no "excellent accumulations", no cost averaging, no holding overnight. Only high percentage plays, minimal risk. Need I say more?? <g> The traders may type their trades realtime into the daily log by using special keyboard symbols. It's strictly optional, but an excellent way to see everyone's trades (entries and exits) and review results at the end of the day. That way, you can (if you want) see how your trades compare with everyone else's trades. You can see how many of the trades are successful (most are) and how well you are at getting the tops and bottoms yourself. Helps you evaluate your own skills and the abilities of your broker. Regarding the "Michael" with whom you spoke at Cyber Corp, that most probably is Michael Turner, who is the sales manager. If he seemed a bit distracted, you probably caught him having a "bad hair" day. <g> I know I certainly have them. Incidentally, Mark Stryker, president, yesterday mentioned to me during a phone conversation that next month they are lowering commission rates for active traders and also inviting less active traders to become clients as well with several optional commission structures depending upon how frequently one trades. A little something for everyone. I think it's a good idea. Not all of us are the same type. However, something you said in your message makes me tell you that, in my opinion, unless you are trading full-time, and able to watch a good, high quality trading room (such as #MTrader), you probably don't need or will not particularly benefit from high-end trading platforms such as CyberTrader. That's my opinion, and some folks here might differ with me on that. But I believe it's too sophisticated and requires so much learning and involvement with your hardware, that I simply cannot imagine anyone bothering with it unless trading somewhat full-time and being fairly close to the market. But, with the strategies I have seen in #MTrader, I think one could do quite nicely only trading the first 1-2 hours of the day, perhaps coming back for the final hour and looking for the occasional late rally. The middle of the day is relatively boring and, imho, a bit more risky. The best, most predictable trades mostly seem to happen in the first two hours. Many days I make a lot of profits then, and spend the rest of the day giving much of it back. I should learn to quit earlier <g>. Thoughts, anyone? Bill

To: BrooksR who wrote (430)	4/29/1998 8:47:00 AM
From: William W. Dwyer, Jr.	Read Replies (3) \| Respond to of 3216

Brooks, I think that web page may not be up to date. I don't believe they really charge for the class. From my experience, all members are invited daily to the trading lesson, which occurs most but not all days. It's worth it. Lasts about an hour during lunch-time lull, and everyone is invited to ask questions after the class. It's really well organized and well run. And, immediately after, they email you a printed transcript of the log to keep in your files. Very nice touch. Definitely worth one's time. I don't believe they really charge extra for this. As a member you get the password each week for the regular chat-room, and the very same password also works for the other chat-room where the lesson is going on. So, there are two rooms, both available to you. During the lesson, the regular chat-room continues to have traders helping each other with current trades, and sometimes brokers are there from various companies, including Steve Goldman from Yamner and Ross Ditlove from M.B. Trading. Both give excellent advice on and off during the day. It adds a lot to the room. Best part, though, there is absolutely NO hyping of stocks or brokerage firms, none of that. Just good, no-nonsense trading advice with an occasional bit of humor to break up the day. I apologize to all if it now seems I am hyping this place. I always get excited when I find something I like, as you can probably tell. Bill