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This is obviously a person that has no concept of the potential profits from
being a good daytrader. That is why they daytrade, not because they are bored
or any other ridiculous reason.
In a message dated 2/10/99 1:43:54 AM Pacific Standard Time, dcweber@xxxxxxxxx
writes:
> Seems to me some day traders justify their efforts because it gives them
> something to do during the day. Otherwise they'd have to find some
> other endeavor. As an intermediate market timer using mutual funds, I
> can spend a few minutes at the end of the day (or even the next day) to
> assess my timing model and go long or short appropriately. I only have
> to be "right" once and I don't have to pick the exact optimum day
> either. Mutual fund exchanges take place at the market close so
> execution speed isn't an issue. Last long signal was Oct. 19, 1998 and
> latest sell signal was yesterday. Plenty of ways to go short with
> mutual funds from families like Prudent Bear, Potomac and ProFunds.
>
> Day traders rely heavily on data feeds and execution speed and have to
> literally be "right" many times per day. While I enjoy observing this
> newsgroup and the growing phenomenon of day trading, I don't know why
> people choose to subject themselves to this kind of pressure. Intra-day
> movement is a function of so many factors and participants. Position
trading
> gets you in the trend direction which is more stable.
>
> Simplify, simplify, simplify. Do something constructive during the day.
> Get better results with a fraction of the effort and endeavor to become an
> intermediate trend trader.
>
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