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RT's,
I want to thank those that responded to my query. I cant answer each
message. I realize that the question was an over simplification but it
served to draw out a wide spectrum of replys.
Whether you can or cannot chat and trade I guess depends on the trader.
Those that are there may or may not have any addenda. Most are just traders
that from time to time want to chat and sometimes post their trades as they
make them. It's all voluntary and I can't know their motives or degree of
success or skill. Each to their own way of handling the inherent challenges
of trading.
>From what I have seen I continue to believe that some sort of trend element
is beneficial to day trading. Yes perhaps some can play both sides, the real
gun slingers.
Brent
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, November 19, 1998 8:52 PM
Subject: Gen: Day Trading aspects.
>Hello RT's,
>
>I've been reading a chat channel for a few weeks that has a number of day
>traders on it mostly trading Spoos and Boos. It has been interesting to say
>the least. It appears to me that most of these traders trade off of Support
>and Resistance, Fibonacci levels, or pivots within that intra-day data.
Most
>of these traders put on both long and short positions within the same day.
I
>have read a significant amount of grumbling about their trades and the
>quality of that day for day trading.
>
>What I don't understand is not using the prevailing trend and the
developing
>intra-day trend to simply buy/sell pullbacks. For example going into the
>Spoos today we have a super strong upward move that has lasted more then a
>month. The fed cut rates. The trade is still within an ascending channel
>etc., etc. So why were some of these traders shorting today?
>
>I tried day trading once some time ago and took a beating but with some
>research and careful observation I was thinking of trying it again. Am I
>missing something or is what they are doing an ineffective thing to do?
>
>Brent
>
>
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