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

To: Ron McKinnon who wrote (151)	1/18/1999 7:08:00 AM
From: AnnaInVA	Respond to of 611

don't trade options; period, end of story << I agree with Ron wholeheartedly. Stay away from all that self-inflicted agony. Sure, you can make a bundle but then we slip up and get over-confident and THEN it happens .... first you buy a call, oops stock goes down, fast: sell the call - buy a put. Oops, just a fake-out, get back into the calls, fast. Aha, got it figured. I'll do a straddle. I buy a call, write a put. Rats - wrong move. Oh well, I'll just write an offsetting call and buy a put. Aha, now I have a spread called a butterfly - but alas, those pretties usually turn into praying mantisses. And pray you will !!

To: Ron McKinnon who wrote (151)	1/18/1999 9:00:00 AM
From: Ron McKinnon	Read Replies (2) \| Respond to of 611

random comments someone asked me in private what a "position trade" is taking a position that you intend to hold for some period of time could be one day, or many, or even weeks or months but not one you buy with the intent to "flip" out of in the same day >>>daytraders without level II are destined to lose ALL their trading money I do not agree, just one man's opinion >>>making 20 to 100 trades per day. this is only for so called "soes bandits" this may be the most difficult way to trade, and has the highest risk of failure for the newbie with 2-5 "good trades a day" one can do very well >>>The over-riding message in successful trading seems to be doing it without emotion and with rigid attention to risk control. print this and tape it in 20 places till it is ingrained in your brain