|
PureBytes Links
Trading Reference Links
|
One problem with the english language is interpretation of what someone
says. I did not mean to imply that day trading was NO WORK. I will
admit the way I said it was confusing. I will assume that most people
on here have paid their dues so to speak. They have traded for a time
and made mistakes and learned from these mistakes. They have put in
their time. The hot short day traders who come from wherever and think
they can can turn $x into $xxxx by taking a short course on how to day
trade by the outfits that are promoting this venture have for the most
part realized a hard lesson. (Sorry for the long sentence) Hence, No
work. Yes what they are attempting to do is hard work. I would not try
it, life is too short. If you want to be a Dr., lawyer etc. you must go
to college, that is work. There are conversation on here every day
about indicators, methods and the like. People spend time with these
and through trial and error hope to be able to make some money trading.
This is WORK.
If I have not explained this well enough let me know.
Norman E.
Dtrader wrote:
>
> -----Original Message-----
> From: Ira <ist@xxxxxx>
> To: Dtrader <dan@xxxxxxxxxxxxxxxxx>
> Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Thursday, April 01, 1999 2:42 PM
> Subject: Re: was [Bull Market]
>
> The statistic has little relevance, the
> :hustle does. They are preying on the naive and the innocent.
>
> so what else is new? and what's that got to do with the fact that day
> trading is not "no work" [as norm implied].
>
> yes, I agree there are many unscrupulous characters floating around TV and
> magazine and newspaper ads.
>
> I was reading a web site the other day where a well known indicator huckster
> [whose thoroughness in TradeMarking his wares is only matched by his
> bravado] claimed that George Soros was one of his customer. really.
>
> :Dtrader wrote:
> :
> :> on the other hand, so do 90% of artists, musicians and most new
> businesses.
> :>
> :> i'm not real sure this statistic has much relevance.
> :>
> :> dan
> :>
> :> -----Original Message-----
> :> From: Norman Phair <ericrogers@xxxxxxxxxxxxx>
> :> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> :> Date: Thursday, April 01, 1999 1:59 PM
> :> Subject: Re: Bull Market
> :>
> :> :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
> :> :>
> :> :>
> :> :
> :
> :
|