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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (1512)	3/31/1999 8:42:00 PM
From: Jim Burnham	Read Replies (1) \| Respond to of 1729

Wow! Great info on the Trading for a living thread. I am a computer programmer and I have been batting around the idea for an automated day trading system. I've read that the SOES system is automated. If that is so, how do the market makers avoid it? Sounds like I need to do some more research. Jim

To: Eric P who wrote (1512)	3/31/1999 9:11:00 PM
From: Investor2	Read Replies (1) \| Respond to of 1729

Very nice set of posts. Thanks. Will it be possible to be profitable daytrading in a bear market? What is your average return (profit as a percentage of your total trading account, daily, monthly, annually, or however you would like to report it)? Thanks again. Best wishes, I2

To: Eric P who wrote (1512)	3/31/1999 9:12:00 PM
From: peter n matzke	Read Replies (1) \| Respond to of 1729

Eric, thanks for the nice posts. Are you using your automated trading program to do your trading now? regards peter

To: Eric P who wrote (1512)	4/1/1999 1:03:00 AM
From: Dave O.	Respond to of 1729

Eric, In response to a number of points you made. First, commissions can be more than the $25 each way, between ECN fees, Selectnet charges, etc. that some firms impose. Second, working part time (as you did) may be a handicap as you cannot focus full time on trading. I originaly took a leave of absence so that I could focus all my efforts on trading. Next, paper traders seem to always make money given that you almost always get filled whereas the reality is much different (MM declines, ask price has moved up, etc.) and SOES did become useless with the smaller sizes the MM's can quote. Last, as a former engineer myself, I found that to be a "challenge" for me given that I often wanted to analyze things and not act/react. Thus, I migrated to more short term position trading with a few day trades now and then. And obviously my commissions have a much smaller impact on my bottom line. Glad you've made the effort to revitalize this thread. Dave

To: Eric P who wrote (1512)	4/1/1999 3:22:00 AM
From: Bill Green	Respond to of 1729

Eric, nice one !! This is for new traders thinking, or already participating in chat rooms. A little transcript, bs removed and nicknames modified. [atrader] is multiple people. was the real bad guy in this situation. [07:36] in EWEB 3/8 [07:36] EWEB profitable folks [07:36] [atrader] in eweb @ 3/8 [07:37] [atrader] eweb wow [07:37] EWEB gonna fly [07:37] EWEB 2 7/16 [07:37] [atrader] EWEB [07:37] [atrader] EWEB [07:37] [atrader] EWEB heat [07:37] EWEB 2 1/2 [07:37] [atrader] buys EWEB [07:37] [atrader] EWEB nice [07:37] [atrader] eweb heat [07:37] [atrader] EWEB made PROFIT [07:38] EWEB heat [07:38] [asmartrader] UNLESS ANYONE is gonna post EWEB news I take it there is none? [07:38] [atrader] EWEB 8 cents vs 68c loss [07:39] holding eweb for much more [07:39] [atrader] EWEB gonna run big [07:40] [atrader] EWEB [07:40] [atrader] EWEB 1/2 gonna go [07:40] [atrader] EWEB 2 1/2, going fast [07:40] [atrader] EWEB breakout! [07:40] EWEB $2 19/32 [07:40] out EWEB 5/8 thanks chippie This situation took all of four minutes. If you'd bought trader1's shares at 5/8 you would now be looking at a 1/2 pt loss.He is smart and a hypster and pretends to be a good trader. As the guy has a small following his sell stopped the momentum and from there it was a matter of women and children first. Take care out there <gg> Bill