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Strategies & Market Trends : The Best Day Trader Training -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (9)	7/15/1998 9:13:00 PM
From: Lucia Stern	Respond to of 230

Thanks for the tips. I consider myself pretty risk-averse, and I think my trading style will be. I wouldn't enter I trade I didn't understand (shorting still seems a little mysterious), and I tend to do a lot of research and follow stocks in certain sectors, so I have a feel for what's going on (although I know, sometimes the market moves and the reason???). The Impact Trading people are day traders. Their strategy seems to be watching the market makers, and trying to codify the things they are looking for in certain market makers. Their program attempts to incorporate this strategy, but I'm sure there are a few others too. The reason I sounded "sold" on this course is that after doing some research about what others are charging, and going to a couple of presentations, it sounded as though they are trying to establish a trading business in Manhattan, which is why they are teaching a course. I have read a number of articles and a couple of books, and I will continue. Now the course has been put off until Aug 18th, so I have some time to become better grounded. Also playing some paper-trade simulation games on the web, although none found for day trading. Thanks, all, for the links suggestions. I will post some I have found in the next couple of days.

To: Don Pueblo who wrote (9)	7/16/1998 7:35:00 AM
From: Cash	Read Replies (1) \| Respond to of 230

Human (Tastes Like Chicken), excellent advice I've done many of these things in my trading time, and unfortunately will probably do them again. A few more things: 1. Don't have an opinion. You don't decide where the market is going, the market does. More often than not, having a strong opinion has always cost me money. 2. Don't add to a bad position (you called it averaging down/up... I like this way of saying it... has more of a psychological impact... Throwing good money after bad. 3. Leave your problems at the door. If you aren't 100% focused, someone who is will take your money. 4. You don't HAVE to trade just because you're sitting in front of your system. If you don't feel the trade you're about to take meets all your criteria don't trade it! 5. If, as a new trader you're a 200 share trader, and a position goes against you, this is not the time to become a 1000 trader to get back up. If you're thinking that, this is the time to turn off the machine. There are many more which I'm sure others will post. Cash

To: Don Pueblo who wrote (9)	7/16/1998 9:14:00 PM
From: Turboe	Respond to of 230

BAWK!! Great post dude! 11. Mistake: trying to make up for a bad trade with another trade on the same stock. Doubling your position on the second trade to make the money back you just lost. This is gambling. Let the trade come to you. You screwed up, so clear your head and let the next trade come to you. I have perfected that...