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Len, I hope you did not take offense to my candor. I have been a daytrader
for nearly 6 months now and I think I've seen just about everything as far
as trading styles go. Rather than have you think that your approach is
"woefully inadequate", the group's collective intention was to steer you in
a direction which has historically proven much better. I, for one, tried to
make suggestions which have worked very well for me. But keep in mind,
there is no single strategy which works for everyone, and you must certainly
develop your own based on your experiences as a trader.
I'm sure you've heard the statistic (although I have never seen it
substantiated with any form of real data), that only 10% of traders who
become short-term traders manage to be successful. I definitely place
credibility in a figure below 1/3. The purpose of this forum is to make it
possible for us to share information on experiences, views, opportunities,
strategies, and techniques so that we all may become better traders as a
consequence.
If you are comfortable with your trading style and you are successful by
your own definition, that is what matters. Trading styles should never be
rigid though - we must be flexible enough to try new approaches every so
often to see if they yield performance improvements without compromising
comfort level.
Take care, Paul Szilassy
-----Original Message-----
From: Len Olson <lto@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, February 05, 1999 6:36 AM
Subject: MKT: Online Brokers
>This is essential to my woefully
>inadequate abilities and strategy that some have commented on.
>
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