Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Mark[ox5] who wrote (42)	1/17/1999 2:44:00 PM
From: SpongeBrain	Respond to of 611

Health Benes and IRA alternatives.... 1) There have been some good articles on getting independent benefits in Money Mag. I bet you can find it on their site. If you cant find it, I'll xerox the article and mail it to you. Wait, is that illegal? <<I can say I also have been tempted from time to time to do what he has done I have done anything ....just researching my options. <<Also what do you do for a retirement account? $2000 in an IRA just doesnt cut it! Look into a SEP if you arent employed by someone, up to 20k or so a year, others will know better than me.

To: Mark[ox5] who wrote (42)	1/17/1999 9:49:00 PM
From: Ron McKinnon	Read Replies (1) \| Respond to of 611

just a few comments from posts read so far, more to follow far too many posts about huge gains in a day trade yes, they are there but that is also where an ONSL can fall from 100 to about 50 in less than 15 minutes as so many did one day a while back something like a consistent 1.50% gain weekly, compounded, is 100% annual sitting at this tube 12 hours a day can both suck and be addictive full time trading buy your own health insurance with pre tax $'s no paid sick days, holidays, vacations, 401K's etc good tools are mandatory but don't go overboard; often less is better remember that 95%+ of all the posts your read here, YHOO, other places and especially pay newsletters/sites are a crock; they are for the $ benefit of the writer, not the reader

To: Mark[ox5] who wrote (42)	1/18/1999 3:22:00 PM
From: Wayners	Respond to of 611

To be consistent at trading you have to have a consistent system that works for you. You can play technicals, upcoming splits, spin-off/IPOs coming up with parent companies, initiation of coverage on IPOs, lock-up periods and so on. You need extraordinairy discipline to manage your money properly. Don't take extraordinairy risks. You need instantaneous executions and fill reports--no discount online brokers. Like Tim Luke said use a Real Tick system or equivalent. Always trade with the short term trend--like 3 day moving average. Learn how to short when the market is not behaving so well like back in Sep 98. There has to be a recognizable downtrend. You can either short an oscillators overbought conditions on a downtrend or try to get in on technical breakdowns where new lows are being hit. It is much harder to short because of the need to borrow shares that have to be available. The uptick rule makes it very hard also if you are using a breakout system--it causes slippage, missed fills etc. You can still make money and I did in Sep, but its like earning half as much. Overnite holds are for experienced traders only or those playing a news event where you take the profits on the actual news. When you see fear, like a selling climax buy it. When you see greed, where a stock is now starting to go vertical at a fast clip sell it. If you lack the psychology to buy fear and sell greed--you cannot trade.