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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Tom K. who wrote (9995)	3/21/1999 12:47:00 PM
From: Herm	Respond to of 14162

Thanks for your answer and point of view. Cash flow is something to work towards. Although, hanging onto one's working capital is paramount if one is "going to stay in the stock market game." Few people are able to daytrade. I had a chat with a fellow my age recently and he has been daytrading full-time for three years now. The first thing he said to me was that it would cost $40,000 to learn how to consistanly make a profit by daytrading. He said you first have to have all the computer software (Omega's TradeStation), live-realtime feeds, and $40,000 to invest to really make it work. And, of course you will make mistakes! He said 90% of those that try bite the dust and lose all of their money in the attempt. Now, I'm not saying it is foolish! Everyone, I guess has the right to fail or succeed. For me, I like access to my money when I need it and making those small $$$ hits month after month and never losing a night's sleep. I don't get upset stomach (like I use to) and I don't need that CC money to live on anyway! Heck, at this point I give more to my church and charities than I take out for myself. The CCing pot of gold is endless as far as I can tell. What a great country! :-)

To: Tom K. who wrote (9995)	3/21/1999 12:48:00 PM
From: Herm	Read Replies (2) \| Respond to of 14162

Thanks for your answer and point of view. Cash flow is something to work towards. Although, hanging onto one's working capital is paramount if one is "going to stay in the stock market game." Few people are able to daytrade. I had a chat with a fellow my age recently and he has been daytrading full-time for three years now. The first thing he said to me was that it would cost $40,000 to learn how to consistantly make a profit by daytrading. He said you first have to have all the computer software (Omega's TradeStation), live-realtime feeds, and $40,000 to invest to really make it work. And, of course you will make mistakes! He said 90% of those that try bite the dust and lose all of their money in the attempt. Now, I'm not saying it is foolish! Everyone, I guess has the right to fail or succeed. For me, I like access to my money when I need it and making those small $$$ hits month after month and never losing a night's sleep. I don't get upset stomach (like I use to) and I don't need that CC money to live on anyway! Heck, at this point I give more to my church and charities than I take out for myself. The CCing pot of gold is endless as far as I can tell. What a great country! :-)