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It is true as you say that there might not be more successful traders with
all this technology. But what it brings is the easy access for everyone to
participate in trading and using whatever tools they need (real time
news/prices/charts). I read an interesting article in Forbes the other day
and apparently there are about 5 million on-line investors in the US that
each day trade the markets. Some of them make around 10 trades a day.
Each day on-line brokerage firms take on board 15,000 new accounts
(average). In the short amount of time on-line brokers have been around, I
think they have done a very good job providing all these services. Of
course there will be times when you get bad fills etc, but remember the
technology we are using is still relatively young and it is in a constant
evolution. I think it is very important that we embrace this technology
revolution and those who do not I think will be helplessly behind in the
future.
Jens
-----Original Message-----
From: OatTrader@xxxxxxx <OatTrader@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: 15 January 1999 12:16
Subject: Re: Lessons Learned
>RT's,
>
> What is amusing, we have more technology than say 15 years ago at our
>disposal, and yet ninety percent of new traders lose money? So much for
>technology.
> Unless one has to absolutely must daytrade, delayed data works well
>enough for position trading. If you don't like the fills at your brokerage,
do
>what I did recently -- move all your accounts.
> Even with the usage of the computer, many traders still chart by hand
and
>down-load data at the end the night and trade very well. I believe the
>computer has actually hindered many traders than make them better.
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