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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (2423)	5/2/1999 3:31:00 PM
From: wily	Read Replies (2) \| Respond to of 3216

Dan, Here is a guy who has been successful using Fidelty by phone mostly for scalping small profits: Message 8956999 wily

To: Dan Duchardt who wrote (2423)	5/2/1999 5:46:00 PM
From: Helge Collins	Read Replies (1) \| Respond to of 3216

With $10-$20 intraday price movements in the inets, I would guess there's a lot of opportunity out there if you are cut out for it. I wonder how the traders way back made it, with the high commisions they had to pay. Of course, not everyone can be a successful trader. Seems like people think they can just hook up with an online broker and start taking money off the table. If I buy myself a basketball today, I don't expect playing in the NBA tomorrow. Helge

To: Dan Duchardt who wrote (2423)	5/2/1999 6:48:00 PM
From: William W. Dwyer, Jr.	Respond to of 3216

Hi, Dan You're absolutely right. I stand corrected (again today). When I was discussing commissions being somewhat irrelevant, I was speaking in terms of short term position trading, carrying 200-500 shares for maybe 2-5 days or so, something like that, looking for 3% -10% profit on the trade. In that scenario, the difference in commission rates is a not such a big deal. So, that's what I do. However, as you suggest, in very short term intra-day trading, SOES-style scalping and so forth, the commission makes all the difference in the world. In fact, in my opinion, in such trades any commission at all makes the whole thing rather futile. With commissions, spreads, slippage, data-feed expenses, and occasional (or not so occasional) losses, anyone making a living at scalping is either working way too hard or reading tomorrow's newspaper today. I think it's almost impossible to win at that game. So, yes, of course you are absolutely correct and I stand corrected. Bill