Day Trading: Facts, Fiction and Discussion

Top 22. May 7, 1999 6:08 PM

» JenL_3 - Day Trader article

Good article Matt. Here's a clickable link:

Funds rap Daytrading

Seems like the article pretty much agrees with BB's opinions of day trading.....Jen

-- posted by JenL_3

Top 23. May 7, 1999 7:35 PM

» matttheduck - darn it

i thought i had that thing clickable. sorry.

-- posted by matttheduck

Top 24. May 8, 1999 6:22 AM

» TONYBRIG - Good Article Jen

Funds rap Daytrading!

Guess it depends on what side of the FENCE one
sits on.
Some of it is Jealousy some sour Grapes some
Stupidity some Pot Shots.
Some tho is good caution.
Show me STATS tho!

vbolhh

-- posted by TONYBRIG

Top 25. May 8, 1999 7:09 AM

» KirkL - Stats

I believe I heard Arthur Levit on TV this week say that 67 of 68 in one Day Trader Pit/School were losing money or had not made money yet.

Traders are different than "Day Traders" in my eyes. I know MANY successful "Traders". IF I could spell it, they are "Information arbitragers" where they make their money by trading on information they gleam before it becomes widespread. My recent buy of SFAM just as it was starting a run is an excellent example of a stock I got from one of them.

-- posted by KirkL

Top 26. May 8, 1999 10:12 AM

» TONYBRIG - Wanna Bet Kirk

Ha Ha Ha!!!!!!!!!!!!!!

Impossible to believe that Trumped up STAT.
Even 68 babies could do a hell of a lot better
then that.
Someone is a CHAOS MERCHANT on this specific.
Needs to be verified!!

Day Traders must pay their bills too!
So how does one explain that they lose?
Rob banks at night?

Thanks for the laugh!

vbolhh

-- posted by TONYBRIG

Top 27. May 8, 1999 10:34 AM

» Hugs - Traders vs. day traders

Maybe some definitions on gains/loses per trade, and how many trades would help. Ten and twenty trades for 1/8 ths and 1/4's vs. one trade (maybe 2 or days holding) for 1 or 2 points.

Think I lean (or do you call that a "bias") towards agreement with Kirk by logical consideration. Somebody's getting clocked.

-- posted by Hugs

Top 28. May 8, 1999 11:08 AM

» KirkL - House Commissions

Be interesting to ask how many commissions are generated at a trading house each day for each day trader?

reminds me of craps... betting on the pass line.
I "bet" the results are similar too.

Tony - Why are you so defensive about it? Do you not believe in math and statistics? Trading on 1/8ths and 1/4ers with $40 for a round trip is hardly investing and the house take is surely a consideration. Is there some new math I don't know about?

-- posted by KirkL

Top 29. May 9, 1999 5:54 AM

» TONYBRIG - Not defensive but you're not fair

Kirk:

There are two sides of all coins.
Day traders are winning and I see it happening
Of course some of them are losing and that is
very too bad.
Stricter rules/regulations/even laws would be
good to protect the unitiated but the truth
will eventually come out and not (I believe)
as you slant it.
How do you think Day Traders pay their pills.
67/68 losers is a BIG LIE and POT-SHOT.
Mark this debate for say next year and you/we will
see for sure.

vbolhh

-- posted by TONYBRIG

Top 30. May 9, 1999 7:10 AM

» KirkL - No Lie on Day Traders

All you need to start at a school is a pot of money.

All you need for a scam is for someone to desire that pot of money.

I am NOT saying Day Trading Schools are scams, just I assume those being taught by people with a suite of PCs to trade from where they get commissions are mostly interested in those commissions.

I would be more trusting of a day trading school taught by a successful day trader with a track record to prove it. You know, pay $2K to $10K to learn to use Level II software and all the tricks. Where you become your own Market Maker and don't have to pay anyone the spread. With an execution system you buy at the BID and sell at the OFFER thus YOU make the spread and just pay a commission for the trades. Maybe I'm still missing something?

A guy called Moneytalk and said he did it and made money after awhile but was really leaveraged at times and the stress was terrible so he got out of it.

I would think that if it was REALLY EASY to do so anyone could do it, then the big houses would borrow a few chimps from the Bronx zoo and train them to do it. Run out of chimps, then go get a few Stanford MBA's and let them do it at a higher cost. Get my drift?

-- posted by KirkL