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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (32)	1/17/1999 12:10:00 PM
From: kaydee	Read Replies (1) \| Respond to of 611

Bonnie Bear, I agree with most of your points... Here is my take on those... First, good topic... Thanks SpongeBrain... <<<1) there's much more money to be made trading bonds than stocks. The big guys are driven by the bond market...and derivatives... the casino stocks are a place to hide hot money until they can find a safe bond to park it in. Never forget this.>>> (1) I would like to understand more about it... <<<1.5) there's probably more money to be made buying at the bottom of a bear market then buying at the top of a bull market. The problem with buying at the bottom of a bear market is that it's scary because nobody has a job or money.>>> (1.5) If one can predict either of the two correctly!!!, it is difficult to lose... Nikkei... One lesson I have learnt is - it is better to play both sides long and short, that way you tend to be rational IMO... (Though I have yet to implement it, DBCC was an excellent example).. <<2) The folks who seem to successfully trade are retired from some other career and have a six-figure IRA that can be traded without tax consequences....they position-trade...they are very patient... 3) Seems like the traders I have met who did OK were people who had enough money saved/earned/inherited to live on, no family and no expenses..or a pension from somewhere... these are people who live on $1000 a month, not 10K a month, the saving goes in the trading kitty. 4)they have superb money-management skills and have good sense when to cut losses...they also had spent a lot of time learning both FA and TA.>>> Even I have talked to a few of my friends... The ones who have made consistently are those with a big balances to start with and those with no worries about short term big losses...(My limited observation)... Finally, my experience says : Except for the last 2-3 months (IMO NASDAQ can not go 50% up every 2-3 months for ever), the best strategy is active position trading with willingness to be both long and short... (It is like partial day trading if I can call it that way...) DB