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

To: Jon K. who wrote (340)	1/21/1999 4:18:00 AM
From: Dave O.	Read Replies (1) \| Respond to of 611

< The profit from one or two trade a day with only $30,000 capital is enough to make a living? I thought it requires a lot more capital > Depends on ones needs financially. I both position trade and day trade and typically only use about 25K for day trading and could support myself on what I make there. I also tend to trade stocks under $15 that I know very well and I'm out after 1/4 point. Dave

To: Jon K. who wrote (340)	1/21/1999 11:56:00 AM
From: peter gucker	Read Replies (1) \| Respond to of 611

>>The profit from one or two trade a day with only $30,000 capital is enough to make a living? I thought it requires a lot more capital.<<To make a living? I think that if I relied on my daytrading to live it would change my entire outlook on how I do it. Now I daytrade because I want to, I would hate to put myself in the position where I had to. As one of the other posters said you need bas of titanium, if I had to do it for a living I would need two more bas. <<<<How many stocks do you follow? Do you follow a few stocks intensively or pick stocks from here and there?<<< let me count... 20 stocks all intently. I usually just follow two that I am going to make a trade in. But if the opportunity arises with the other I'll jump on it. You have to find stocks that are rather volatile >>>How long did it take you to make a consistent earnings? What is your winning % ?<< I would say a year and a half maybe less. 5 out of six, now . >>What tools do you use? (level II or other softwares?) I use interquote real time streaming quotes... I'm think of changing because everyone and his brother are starting to do what I do. I have been looking into this livetrade.com because speed is of the essence. My regular job starts at 4pm. I live 1.1 miles from my work, depending on which parking space I get, so I leave at 3.55pm. Paper trading is all right, but the real factor in day trading is ba##s, especially with this shorting stuff, and dealing the Internet stocks. So if you are going to do it, do it. I explained my trade yesterday and I have to admit it bothered me most of the evening. Hell its bothering me now. So I'm looking to trade it again, which to me is dangerous, because I made a mistake. So you have to watch yourself and become acutely aware of your own emotions. So in the end I won't trade it again, just because it is putting me in that space....does that make sense?