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Pastimes : Working a day job and making a profit with low capital -- Ignore unavailable to you. Want to Upgrade?

To: Fred Davis who wrote (7)	4/9/1999 12:59:00 PM
From: CatLady	Read Replies (1) \| Respond to of 32

Patience. Learning to go after small steady gains has helped my trading a lot. Take a look at this calculator ( Ignore the software advertisement, I do not recommend their product ) nirv.com "Through the magic of compounding, earning 2% a day grows $10,000 to $1.4 million in one year. " Small consistent gains can really pay off!

To: Fred Davis who wrote (7)	4/9/1999 3:06:00 PM
From: MSB	Read Replies (1) \| Respond to of 32

What exactly are we talking about with regard to low capital? I'm working with two accounts both of which have less than $10 thousand in assets in each (assets probably isn't the best word to describe one's holdings since they change from day to day, but I'm sure you get the general idea). This is not to suggest that I trade daily. I have developed a list of stocks I watch on a continuous basis. I may or may not have a position in those stocks at any one time. I try to get in at a point I'm comfortable with, but also choose a point at which I'll ditch if it trades lower. All elementary right? It is if you're factoring out the emotion side of the equation, or if you believe in the long term prospects of the company. However, long term is not a word I know well judging from my trading history. If I get an upswing in a stock, I'll sell it regardless of whether or not I think there is more there to be had. Lamenting over "I could have had more" is a lot more pleasing than "damnit! I should have sold sooner". And any time a stock moves 10 or more points in one day, I'll sell. As a rule, I've noticed a big run-up is almost always followed by a sell-off, usually profit taking. But the point I wanted to make about developing a list is that you keep your focus limited to a certain number of stocks. This way you're not chasing the next opportunity, or having to DD to familiarize yourself with the company. It also keeps one from acting on impulse because you already have a good idea as to what to expect for upside and a reasonalbe expectation of the down. I've got plenty more. <ggg> Mike