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Felix,
First of all I want to say that I would not recommend day-trading to
anyone-- but for those who find it themselves, study it extensively, and
discover how to do it well-- it can be very rewarding and profitable.
I've traded everything from Value-Line to S&P to Bonds & Currency Futures--
Stocks & Options, etc. over the years-- but gave up Futures a few years ago
in an attempt to retain whatever sanity remained.
It is impossible to speak of day-trading in generalities. One needs to find
Markets that are suited to their temperament. I found that S&P Futures got
too erratic and volatile for me. These days, the very tame OEX index is
just fine and very profitable.
You could choose 100 charts of various trade-able entities at random and
show me un-named charts. I could tell you, with some degree of accuracy,
which ones would suit my temperament and would be worth day-trading, and
which ones would not. Most would fall into the "would not" category, and
many that did qualify don't have the necessary liquidity or daily volume.
You might compare day-trading to becoming a 747 pilot -- most people who
don't have a physical or psychological limitation would qualify if they
started early enough in life and followed a prescribed path that leads to
that goal. However, most people would not be interested-- many who are
would not be willing to make the sacrifices and endure the amount of
training necessary, and some would find a much easier and less stressful
path to riches.
_______________________________________
At 08:27 AM 10/25/98 +0800, you wrote:
>1. Tell me, do you think most intra day activities is random or noise?
>And one can still exploit it regularly?
>
>2. Or is it more an orderly/predictable phenomena (as high probability
>of things happening because you learned it through experienced?) and you
>can exploit it easily
>
>Yes, these are very "basic" questions, but I can't seem to get them and
>conclude which
>is which through my years of experience.. Or do different markets
>behave differently? because I assume people who daytrade only chose
>markets that are extrememley liquid and volatile (in dollars sense)
>like for example S&P.
>
>Be serious and think carefully, is it possible you don't know either of
>the above or don't care? Perhaps this is the third school of thought.
>
>
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