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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (3177)	6/7/1998 2:33:00 PM
From: Brentsky	Read Replies (3) \| Respond to of 4969

Steve, Things sound so bad maybe we should all go out and slit our wrists. It seems like you always post this message when you are looking for new customers. How do you know only 1 in 30 daytraders is successful? Is there a database some place I can access that shows me this? The reality is that the world is changing. Yes, the information age is finally here! The difference between now and, say five years ago, is that the consumer now has information he/she didn't have and they can now react to that information without all of the middlemen. Sure, there will always be some kind of middleman, but the days of the middleman who eat into your profits is over. In addition, this new information age means one can perform a multitude of trading systems. Maybe daytrading is too hectic or monotonous (depending on viewpoint) for some traders, so they could be 3-5 day traders. The key point, is you don't necessarily need a broker, in the traditional sense of the word. I work at home, have zero to little overhead and hey, guess what, a few successful trades a day and I'm doing very well! You are right about your listed items of being a successful daytrader. If you can't live by rules similar to those, then try something else. But, please don't suggest it isn't possible, because I believe it is very possible to be successful; remembering my level (overhead, etc.) of what it takes to be successful is much lower than some MM. And, we're just in the infancy of the information age and the power the consumer will have. It will only get better!!!!! Brent P.S. I do like your comments in general and you are very helpful on this thread, and believe that some people will still want and need some type of (non-internet) broker. However, there will be a huge number who want the freedom and power to be their own broker and they will be successful!

To: steve goldman who wrote (3177)	6/8/1998 11:16:00 PM
From: electra	Read Replies (1) \| Respond to of 4969

Well, that was quite a comment on daytrading. I am just beginning to paper trade with the thought of going into shorter term buys..I've been long on the stocks I do have. I'd like to hear more about people's experience of moving into short term trading and how they went about it. Thanks. Electra

To: steve goldman who wrote (3177)	6/9/1998 2:32:00 PM
From: Darren	Read Replies (2) \| Respond to of 4969

Steve, I feel sorry for you. It's every fallen day-traders desire to be a good trader, and you obviously didn't feel like you could make the cut. You've lost the edge. 1 in 30 is a joke. More like 1 in 3. And most people don't quit because they are losing money, they quit because they aren't making enough money to support themselves and their trading. Also, you give MM's too much credit. If these people were as good as you think, they'd be on their own. The fact is, because the system is in their favor, it allows them to blunder their way through to make money most of the time. Good day-traders simply exploit inefficiencies in the market. It's not voodoo.