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To: Michael Turner who wrote (5508)	10/22/1998 11:46:00 AM
From: Paul K	Read Replies (2) \| Respond to of 12617

"DayTrading shops do have a high dropout rate..." Talk about a high drop-out rate... "Day-traders Find Their Money Gone, Along With Computers" nytsyn.com What unique concepts in your book aim to reduce the drop-out rate?

To: Michael Turner who wrote (5508)	10/23/1998 4:17:00 AM
From: Mark Davis	Read Replies (1) \| Respond to of 12617

Thanks for the kind words. From what I read in the Boston article, the authorities are finally wising up to what I spoke of in my posting. Day late and a few million short, I reckon. Trading is a GREAT game, but the way it's marketed borders on fraud and misrepresentation. For most folks, the 'don't quit your day job' advice stands. Now that Block is out the door, who's next. I've been to Alltechs (Houtkins) seminars and they may have some problems with their approach as well, if the Block fiasco is any guide. I don't wish any trouble on them or any firm , but I'd like to see the p&l for their 'customers' and see how it looks in the light of day.

To: Michael Turner who wrote (5508)	10/23/1998 1:55:00 PM
From: steve goldman	Read Replies (2) \| Respond to of 12617

"...in fact, DayTraders in general fail more than they succeed. " Knowing traders up and down the street, from clients, from these threads,emails etc.. its more like 95% fail, 5% succeed, if that. "The truth is that DayTrading is difficult, and many do not have the requisite patience and discipline to be successful." I am preparing an article on "Trading as a business" for our Newsletter this evening. I'll post it on this thread if I have time. You can subscribe to our newsletter. its free. send email to tdesk@yamner.com, subscribe or subscribe daily (if you want the daily) in the subject. Daytrading is the MOST difficultof all professions. regards, Steve@yamner.com