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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: The Devil Dog who wrote (1623)	1/9/1999 4:33:00 PM
From: Brentsky	Read Replies (1) \| Respond to of 3216

Some other lessons learned include: (these may not be for everybody, but sure are necessary for me, been there, done that on all below) 1. Don't hold shorts overnight. You can make good money shorting some of these high flyers during the day, but the volatility is too risky to hold overnight. Look at KTEL history to see what I mean. 2. Know what you want from a trade before entering. Set expectations for that stock. How high or low will it go?, what is your stop loss?,etc. Once the stock starts to deviate from your expectations, exit and move on. 3. Don't confuse daytrading stocks with short-term or swing stocks. It's nice to have separate funds for these different investment strategies. And, whatever you do, don't rationalize a poor performing daytrading stock into a shor term hold because it's a good stock. How many traders have gotten into a bad trade, missed the stop loss and then hang onto it, rationalizing that it is a good swing trade? All you eventually do is lose money and tie up your trading equity that could have been in better trades. Now the good news!!!!! What I like about daytrading!!!! 1. No rush hour traffic!!!!! Occasionally I bump into my daughter's toys on the way from bedroom to home office. lol Companies like CyberTrader make this all possible. 2. I can trade in my pajamas if I want!! 3. I am my own boss!!! 4. Some fat pr*ck MarketMaker in New York in a stuffy three-piece suit hates me!!! 5. You can make money!!! It is very hard work, but is very rewarding. 6. We have fun!!!!! That's it for now!!!! Brentsky