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Ron:
And then maybe, three months later they are back at the skate shop with a
lien and a bankruptcy ruling pending as well. The whole idea behind Level
II and the media's attraction to these success story is to pump more and
more money back into the industry. Successful traders will do well in every
market, but they are not going to make it overnight and if they do then they
will blow it all and I have seen it again and again and again.
As to why there are no sp500 traders on the cover of magazines, think about
it. This is the professional traders arena and is too complicated to sell
to the naive public. The public loves Dell, MSFT, INTC they know these
companies and follow them everyday and in a 5 day seminar some crook can
teach yoy how to grab 1/8th's all day long and throw a grand in his pocket
everyday. Gotta love it, the everyman goes to the daytrading shop blows out
after racking up $15,000.00 per month in commissions, but we don't see these
poor souls on the cover...Read between the lines, it ain't that easy...
Regards
Peter Beckwith
-----Original Message-----
From: RONC2@xxxxxxx <RONC2@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, April 12, 1999 6:44 AM
Subject: DAY: Level II vs. SP500
>Is it easier to daytrade NASDAQ Level II than SP500? You don't see very
many
>25 year old S&P daytraders gracing magazine and news stories with quotes
like
>"...last month I worked in a skate shop and knew nothing about the markets.
>By the closing bell I will have made $20 grand for the day." (this is
>something I made up, but seems to reflect what I see about Level II
>daytraders).
>Thanks for your comments,
>Ron
>
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