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

To: Leland Charon who wrote (3179)	6/7/1998 3:31:00 PM
From: steve goldman	Respond to of 4969

I read it yesterday, but tossed it when I got done with it...figure June or July.... it was in response to a prior months' article talking about the wave of daytraders (an article, I assume, you would want to track down as well). The respondent was criticizing the magazine because the article portrayed daytrading in a positive light without presenting the downside. This respondent felt that only 5% of daytraders were successful (thats 1 in 20, a bit more optimistic than my view). One of the problems of any assessment of financial performance is that individuals are not likely to discuss or continue posting/analyzing their failures yet successful participants do engage in discussion of the topic...that is, it is more likely that individuals who have failed or are failing as daytraders arent posting up here, and rather trader threads such as this, irby's etc. are magnets for the successful, the cream of the crop. Couldyou imagine doing 4000 tickets a month, thats 200 ticks a day, or 23ish tickets an hour or a ticket every 3 minutes, all day, every trading day for amonth.... I'd rather invest in a life insurance policy for that trader! -BTW, did anyone see the article in Barrons, about how far the hospitals are from theNYSE for hear attack victims, how the AMEX has two defibs on site....kind of wild, huh. Brentsky, dont get angy at me about this one, just thought it was a unique article to read in barrons. -Steve@yamner.com -Steve