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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (7)	5/20/1998 9:05:00 PM
From: Dave Twibell	Read Replies (4) \| Respond to of 1729

I agree 100% with Big Dog -- when I started trading, I tried to use E*Trade, since I didn't want to invest the money to get Lev II etc... until I knew what I was doing. What a fiasco. Although I managed to make some money doing this, it was complete and utter luck. You absolutely need real-time information if you want to compete sucessfully as a day-trader. I would strongly suggest you read every SI trading thread and trading web-site front to back before you start dropping your own money into the game. Then, if you are really serious about day-trading, I would commit the resources to get RT streaming quotes, Lev II and time & sales info -- and then study a select few "target" stocks to learn how they move. Only then would I start CAUTIOUSLY trading with real money. One thing any good trader will tell you (and believe me, I am not anywhere near good yet), is that there are always opportunities to make money trading. Don't give into the temptation to just try a trade or two until you know what you are doing. If you lose your trading capital before you understand the rules, you're done. Good luck~ Dave

To: Big Dog who wrote (7)	5/20/1998 9:31:00 PM
From: RogerWillco	Respond to of 1729

Actually, I've got real time quotes but no level II or streaming quotes. I always knew that when trading bb's, if you submit a market order you're giving the MM's a free ticket to sell you a stock or buy it from you at whatever price they like, so that's why I went with a limit order on the sell, which with 20/20 hindsight a market order would have been better. Oh well, I guess one lesson learned is that when trading bb's, the MM's can screw you to the wall regardless of the type of trade you submit! rw