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<DIV><FONT color=#000000 size=2>Great post, Ira. </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Not only are there more on-line trading
commercials than beer and auto commercials, but the content and substance of
these commercials is completely off-line. The firms that sponsor these
commercials hire teams of lawyers to settle suitability of investment lawsuits
and arbitration suits all them time from people who lost their shirts(not to
mention their homes) after daytrading on the internet for a couple of
months. You would think that after all of the horror stories out there
about people who didn't understand what margin was or that if the stock goes
against you x percent you have to meet the cash requirement, the firms
themselves would take a more responsible stance. Instead, most of us who
keep CNBC on in the background have to watch an Ameritrade commercial about a
mom and housewive who can take the kids to school and throw some money in a
biotech company to the tune of $1700/day or the guy who owns his own island,
etc...</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>I don't know what we are going to see with this market, but
one day(I hope) we can look back and just laugh at how absurd those commercials
really were. I am hoping it is sooner rather than later and then maybe,
just maybe the public will understand that trading is a profession, not a hobby
that you take up in your spare time...</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Pete Beckwith</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
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</x-html>From ???@??? Thu Apr 01 11:00:01 1999
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Date: Thu, 01 Apr 1999 10:52:52 -0800
Reply-To: ericrogers@xxxxxxxxxxxxx
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From: Norman Phair <ericrogers@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Bull Market
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I have heard figures as high as 90% of the people that do day trading
fail. No work, no reward.
Norman E,
> "Peter M. Beckwith" wrote:
>
> Great post, Ira.
>
> Not only are there more on-line trading commercials than beer and auto
> commercials, but the content and substance of these commercials is
> completely off-line. The firms that sponsor these commercials hire
> teams of lawyers to settle suitability of investment lawsuits and
> arbitration suits all them time from people who lost their shirts(not
> to mention their homes) after daytrading on the internet for a couple
> of months. You would think that after all of the horror stories out
> there about people who didn't understand what margin was or that if
> the stock goes against you x percent you have to meet the cash
> requirement, the firms themselves would take a more responsible
> stance. Instead, most of us who keep CNBC on in the background have
> to watch an Ameritrade commercial about a mom and housewive who can
> take the kids to school and throw some money in a biotech company to
> the tune of $1700/day or the guy who owns his own island, etc...
>
> I don't know what we are going to see with this market, but one day(I
> hope) we can look back and just laugh at how absurd those commercials
> really were. I am hoping it is sooner rather than later and then
> maybe, just maybe the public will understand that trading is a
> profession, not a hobby that you take up in your spare time...
>
> Pete Beckwith
>
>
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