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.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (47)	6/6/1999 8:55:00 AM
From: Eric P	Read Replies (2) \| Respond to of 18137

TLC: Great advice. One question, though. What would be the benefit to a Series 7 license? Is it the knowledge gained through studying for the license, or are their some kind of benefits in your actual trading which can be realized? Please explain. Thanks for your contribution! -Eric

To: Don Pueblo who wrote (47)	6/6/1999 9:32:00 AM
From: TraderAlan	Read Replies (3) \| Respond to of 18137

TLC, <I know of no professional day traders that pick their target stocks from a computer program> I guess you just met one. About half of my day trades are based on setups located using computer scans on daily price bar charts. The other half are simple setups that pop up on 1-min and 5-min charts. Using daily data to coordinate intraday trading can be a very powerful way to find moves that are occurring in multiple time frames. These tend to be more powerful and predictable, especially for the day trader. Alan

To: Don Pueblo who wrote (47)	6/6/1999 10:12:00 AM
From: sam	Read Replies (2) \| Respond to of 18137

Your advise is excellent. Daytrading ain't easy. it is NOT the sort of 'job' I'd recommend, because it takes -- IMO -- years to truly perfect. I made, then lost, then made, then lost, then made again several fortunes. NOT because of the stocks I chose, but because I continually ran across market environments that I didn't quite understand. Beginners THINK they develop a system, only to learn THE HARD WAY that the market has "changed" out from under them. Daytraders must be willing to learn and to adapt. And since many of us have only been doing it for five or less years, we've never encountered a real Bear market. That'll truly be a lesson for us.