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In the long run your broker will make more than you daytrading the S&P.
-----Original Message-----
From: Jim Cox <cayenne@xxxxxxxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Monday, August 03, 1998 12:14 PM
Subject: re: technology calls
> Daytrading is a fulltime job. Period.
>
> I certainly agree with Tim. If I'm not prepared to follow my methodology
>on every bar, then I just tell myself I'm not trading. No guilt in that. If
>I'm ready to come to the screen, follow my methodology, then I'm ready to
>do "battle."
>
> And yep, the S&P IS the major league of trading. No doubt about it. I live
>in Las Vegas, and there is nothing out here that even comes close (the high
>rollers betting 100K a hand in baccarat aside). One must be mentally
>prepared to the nth degree. And, obviously one has to have a methodology
>that has a reasonable expectation of success with defined parameters.
>
> Sure, an "upstairs" trader can make a living trading the S&P. But it is
>not easy, nor will it ever be. And it can't be done part time. But what the
>heck, it's easier to make money with all these nummies trading their
>"systems" or "scalping" for a half a point than having to do battle with
>floor every day.
>
> Hehe.
>
> Jim
>
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