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

To: steve goldman who wrote (601)	5/14/1998 4:20:00 PM
From: Brentsky	Read Replies (1) \| Respond to of 3216

Steve, Yes, reading, talking with others, etc., will make one more successful. But, if the daytrading software industry wants to sell their products and services to more customers than just the professional traders, they better start thinking about training. The reason why is simple. Cybertrader, MB Trading and all of the other folks are only successful if their clients (traders) are successful. If a client continues to lose money and be unsuccessful at daytrading, how long till they quit paying $40-50 a trade. Turnover of clients in this business, unlike Datek for example, would not be desirable. And I'm not talking about training to make me the perfect trader. I'm talking about: - Training on how to use the software, I'm shocked at the number of questions (by current users) on how to operate certain parts of the software. For example, how could anyone be a successful trader if they don't know how the "smart keys" work? - Training (for new traders) on the basics of trading. - Training for advanced traders on the nuances of MM's, how orders flow through the ECN's etc. Again, I would think it would be impossible to even start trading without this basic training. Training can be a multitude of products ranging from recommended books, stories, handouts, manuals, actual classes and workshops. The companies in this field need to remember, the more money their clients make, the more money they will probably make. Brent P.S. I don't care if the company themselves provide it or they partner up with someone else, as long as it is good!

To: steve goldman who wrote (601)	5/14/1998 5:30:00 PM
From: William W. Dwyer, Jr.	Respond to of 3216

Steve, I don't think you understood exactly what I meant. But I concur fully with the sentiments of Brentsky in his recent post. The company should provide training on proper use of its software, on its features and functions, how to operate it correctly and properly. The software operator manual should be complete, accurate, and up to date. I'm not talking necessarily about teaching clients how to trade in general, just on how their software operates, as Brentsky says, for example, how the Smart Keys work. Providing the software with inadequate training in it's use is careless and irresponsible, to say the least, given the risks involved and the amount of one's investment that is subject to loss. For example, I have lost money on trades where I should not have. I knew the trading principles involved and had a good trade going with good "unrealized" profits. But I didn't understand some of the features of the software and ended up taking a loss. It's frustrating and a very expensive way to learn software, literally hundreds and thousands of dollars for each lesson, all the while paying substantial commissions just for the "privilage" of taking the lessons. How many such lessons must one endure? Point is, whichever broker is to ultimately become the most successful, it, no doubt, will be the one where traders are successful, and providing competent training is the only way to insure that. Bill