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.

Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (5660)	4/4/1999 10:25:00 AM
From: Keith Minler	Read Replies (1) \| Respond to of 62348

Hey Chief I've been lurking here for quite awhile and I have been impressed by your ability to pick reversals during hectic days. I have assumed that you are using candlestick charts with an eye for resistance and support levels. If so I would be interested in what time frame you use for the candlesticks? Or any other info you care to share about spotting reversals. TIA Keith

To: the Chief who wrote (5660)	4/4/1999 1:39:00 PM
From: keith massey	Read Replies (1) \| Respond to of 62348

Chief I couldn't agree with you more about the number of trades a day. It is no big surprise that 90-95% leave U.S day trading firms broke. Last week there was an article in the NP showing every trade done by a day trader in the U.S. She was in and out something like 40 times and made $600. This was a good day for her since she was down $20,000 during the past 6 month. I looked back over her trades and she got in on the bottom of a couple stock that had just started to run. She sold for 2/16-3/16 and moved on when she could have made $5-10. It's not like she got stopped out....she just sold? On my busiest day ever I think I flipped 3 different stocks. I usually make no more than 4 trades a day and on some day I don't make any. If I don't see a good opportunity I refuse to trade for the sake of trading. The only time I make more than 3-4 trades in a day is when I'm slowly adding to or selling a position through the day. In this case I might make 10-15 trades all in small blocks. However you don't get killed on commission since you only get charged the base fee once. This is also not considered day trading since these are usually medium term holds. Best Regards KEITH

To: the Chief who wrote (5660)	4/4/1999 2:47:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 62348

Chief, <The only people you make money for is the brokerages> By some amazing coincidence, those are the same folks pushing heavy volume scalping strategies. After all these years, I still believe the best money comes from the classic 1-3 day swing popularized in the futures markets. Holding overnight isn't as sexy to the dumb money feeding liquidity these days. That's one reason it's still an excellent strategy. Alan Farley editor/publisher The Hard Right Edge hardrightedge.com

To: the Chief who wrote (5660)	4/4/1999 8:26:00 PM
From: BradC	Read Replies (1) \| Respond to of 62348

Re#5660: Good comment Chief. I think I'd end up in a mental asylum trying to do 100 trades a day! The brokers must love these guys and they must have very good automated accounting systems. With regard to the EricP article he claims to have built an automated order entry system linked to his expert system. I find this very intriguing. I have thought about doing something like this for a long time but never thought any brokers would allow access in this way to their systems by retail clients. This would have to be the final frontier for Internet based retail trading. Program trading for the individual! Anyone have any experience or thoughts about this?