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

To: R Stevens who wrote (42)	5/21/1998 3:49:00 PM
From: HerbVic	Read Replies (3) \| Respond to of 1729

Well I have a boat and a satellite dish and live on a lake where I can see an island, but alas, no Mai Tais. I thought I might offer this up for those who are trying to keep expenses down. Online trading can be very lucrative, but a fatal mis-step can tie up your investment capital for a long time while you wait for the rest of the market to come around to your way of thinking. My strategy, er.. one of them, is to list companies with the value built in over the next one or two years. That is, they are good long term investments. But, instead of "buy-and-hold," I chart for dips, buy on dips, and hope for short term gains but take what I can get. A "trick for tracking" I've learned is to use the free internet portfolio tracking services available. SI has a good one. I list stocks in the portfolio that I might buy if the price was right. I set the number of owned shares to '1' and the purchase price to "the price point at which I want it to be flagged if the stock goes any lower than that." This will result in a negative earnings (usually RED) displayed for that stock when it falls below that price. This is my ZONE. A stock who's price falls into the ZONE will stand out in the list like a red flag. Then I periodically check the portfolio for the stocks that might have dipped into its predetermined ZONE. Before actually buying the stock, I'll check the net for late breaking news that might convince me to back down. This technique is relatively safe barring market surprises. And, the software is free and updates automatically. One has only to put a good stock list together and keep it groomed. I have a question for this thread. When trading for a living, does one have to report income for federal taxes quarterly? HerbVic

To: R Stevens who wrote (42)	5/21/1998 4:43:00 PM
From: Jack of All Trades	Read Replies (2) \| Respond to of 1729

I have an office that I use for my business and pay $405/mth which includes a T1 line, receptionist, and 2 phone lines!

To: R Stevens who wrote (42)	5/21/1998 10:45:00 PM
From: KonKilo	Read Replies (1) \| Respond to of 1729

>>>>The only kind of office expense I would be willing to incur would be the cost of a dock for my boat, a satelite dish and after hours Mai Tais on some island.<<<< My idea of the perfect office, too... Congrats on your new thread... greetings to all and to those whom I share time with on other threads: Dog, Turboe, shoot1st, John Long, Jeff Garland... Anyone use mbtrading.com? My understanding of it is that their LII screen is hotlinked to the orders desk so that you can place orders by clicking on the LII screen......they use Terra Nova Trading as the broker, anyone heard of them? Would like hearing feedback on mbt, since I am looking to upgrade my trading systems... this one seems to me to be the most cutting edge for daytraders...

To: R Stevens who wrote (42)	5/22/1998 12:44:00 AM
From: flashy	Read Replies (1) \| Respond to of 1729

Make sure your sail is trimmed just right (not too many positions out on the table with this market), otherwise you might be doing an accidental jibe and spilling your Mai Tai. May the winds fill our sails "JUST RIGHT".

To: R Stevens who wrote (42)	5/22/1998 8:29:00 AM
From: Tim Luke	Respond to of 1729

I have been trading full time for 8 years now and have read over 100 books on investing and trading. This book by far is the very best book that I have read to date on being a trader. You can read all the books you want on how to read a charts ect.ect... This book will make you a better trader: The TAO (pronounced dow) of Trading.....by Robert Koppel

To: R Stevens who wrote (42)	5/22/1998 2:22:00 PM
From: David R. Parker	Respond to of 1729

Home office vs. away-from-home office...... Hmmm, I never even considered an office away from home. I have a comfortable corner room at home that is isolated from the rest of the house with everything I need. I'm able to "work" anytime I want with no hassle. A monitor mounted high on a wall for CNBC, desks, PCs, books and files, comfy chairs, a nice view (with a bird feeder just outside one window) and I'm only a few feet from the kitchen and the pool. If I want to work awhile before I shower and dress, who cares? (I'm in CA so the market is open 6:30-1:00) I'm also available to sit on the patio with my wife and talk, interact with the kids, etc. When I was in retail management (Safeway store manager) I was gone 12+ hours a day and always felt like I "lived" at my store...I'm so glad to be out of that routine...I don't think I'd trade my home office for anything. Of course, after a few years of this...I might change my mind! Best regards, David