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Michael -
A few comments:
1. Day trading stocks using technical analysis is, in my opinion, one of the
most difficult things one can attempt, simply because stocks have a small
daily range and will react to specific company, industry and general market
conditions. Stock day traders play a different game of reading the strategy
of market makers and generally do not rely on technical analysis.
2. While it is a slick tool, ProSuite is only a tool. If you don't know how
to drive a nail, you can't hang a picture no matter how fancy your hammer.
It's not clear to me that you know anything about technical analysis. If you
are asking if you can cobble together a bunch of canned indicators and make
a winning system, my answer would be "no." I would bet that most experienced
TradeStation users have spent at least $2500 on books, tapes, lectures and
other sources of education and research into technical analysis. Trading is
a very serious business calling for dedication, training and intellect.
3. I suggest that you drop the BMI RT feed and trade stocks over the
intermediate term using EOD pricing. You will learn a lot and won't get hurt
too badly when you are wrong (if you are careful). Furthermore, your fixed
nut will be more manageable. Buy yourself a few books, Edwards and Magee,
and Elder's "Trading for a Living" would make a good start. Alternatively,
you can read "Electronic Day Trading", go to a brokerage with an ECN
terminal and determine your skill level in a hurry and at great cost.
It sounds like you bought the hype and ignored the fine print. Too bad. Now
you have to decide if you want to spend the time to make your investment
hopefully pay off or just admit your mistake, write it off and go about your
business.
JFB
Shaven Heads Trading
NYC
-----Original Message-----
From: WallStInvestor@xxxxxxx [mailto:WallStInvestor@xxxxxxx]
Sent: Sunday, December 12, 1999 11:52 PM
To: omega-list@xxxxxxxxxx
Subject: New OR user with important questions, please reply :-(
Hello Omega-List subscribers,
My name is Michael Christian,
my voice mail pager #1-888-605-4821
my e-mail address is: WallStInvestor@xxxxxxx
I am a new Prosuite 2000i novice user from NY. Have had the program for
about
5 months, went to OmegaWorld, trying to learn as much as I can. Purchased
great 1000mhz (Dual P3 500 mgz) Dell 4 monitor system using real time BMI
Satellite data. Have OR Radarsceen on 1 monitor, Tradestation charts on
another, RediPlus (SLK) execution on 3rd and Netscape up on 4th (usually
scanning stock related boomarks and AOL).
Have had some difficulties....
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