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

To: Mad Bomber who wrote (1011)	7/27/1998 2:22:00 PM
From: Char	Read Replies (2) \| Respond to of 1729

MB. No, I didn't do any type of demo trading before I started day trading and I don't really have a system. Currently I am looking for momentum plays or reversals on early morning sell-offs. I rarely buy anything before 10:00 AM because I like to see a trend established before I jump in. As far as the 75K being risk capital, I guess any money spent day trading would have to be classified as risk capital. That being said, I still don't want to loose it. <G> Last week was my worst week yet, (do you see a trend developing here) Mon -477, Tues +123, Wed +487, Thur -1528, Fri -400. Thursday I couldn't do anything right. Just about every trade was a loser. I'm slowly finding out that this is a lot harder than it looks. It you figure every trade starts out as a loser with the spread and commissions, you are always trying to dig yourself out of a hole. After a while commissions start to have a real impact. In fact so far the commissions total over 3000 so if didn't have to pay any commissions I would be ahead for the first three weeks. It's kind of like a casino, the house always wins. I'm not sure how much longer I am going to beat my head against the wall. If I don't do better this week I may go back to position trading for awhile. Dave