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In a message dated 98-01-24 17:04:30 EST, you write:
<< The bottom line is that the
potential for returns are MUCH greater through short term trading than
through
investing, a fact that anyone who has had any degree of success in this
timeframe
will attest to. >>
Anyone can look at a chart and see that if he was able to be on the right side
of EVERY tick then he would make every penny that was available in the market.
Reality, of course, is that this is IMPOSSIBLE. It is my personal experience
that people who nickel and dime the market through daytrades never make as
much as those who collect the ENTIRE move. They do, however, make their
brokers extremely happy and wealthy. The S&P simply doesn't move 8000 points
in a normal day. To collect on those moves, you need to stay in for the
duration. Also, the only way to collect on those huge gap openings is to be
in the market overnight.
Michael
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