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HI BILL
well said, I totally agree, 'tis easier to hit a single, than
a home run
there were many who had better batting averages than the BABE
Ted
----- Original Message -----
From: T-Bondtrader <t-bondtrader@xxxxxxxxxxxxx>
To: ted stampeen <tedco@xxxxxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: mardi, 10. août 1999 22:26
Subject: Re: GEN-DAYTRADING
>
>
> to daytrade, or position trade
> -I think if they were also to do a study on position traders, the numbers
> would
> be much worse, as most people who start out bought some course claiming
> one can make a killing with as little as 5k, a lot of these courses
mention
> very little about liquidity, I always wondered how many newbies got fried
> in the bellie market,
> goodtrading /TED
>
>
> The system vendors are, in the main, aiming at position traders. Systems
> need a decent time frame to be able to offer something. Most people who
> try to predict, do so longer term for a better bet. Short term, you have
> to follow the market and understand how it works and that is very, very
> difficult, if not impossible, to systemize. (I'm sure all the
corrections
> will be flowing on that one!)
>
> Take today in the bonds. The market gaps down and hits the contract
low -
> from which, if you
> understand these things - it was more than likely to bounce. It did. It
> also gave about 10 to 15 minutes to get long. Then off it went with an
> Oops trade, to boot. The first retracement was bullish. Very bullish,
> when you measure these thing correctly. Then it went up to yesterday's
> high, which it failed to penetrate. The market gave you over half an hour
> to take your profit and get short. Thank you. You stayed short to
> yesterday's low and took your profit. So, what did this impossible
> business of day trading the bonds add up to: You took two trades worth
> half a big point times how ever many contracts suited your bank account.
>
> It didn't require a system seller to tell you what to do. It didn't take
> some divergent oscillator or rocket scientist to predict what was likely
to
> happen, and, what is more, it all happened the day before the total
> eclipse in England....
>
> The rot that is talked about day trading and how it can't be done, is
quite
> astounding. But then there is no money in it for the system boys, the
> purveyors of, etc. In a very liquid market like the bonds, the market
> becomes readable and tradable. Not always. Let's be quick to say that.
> But often enough, with the right money management and r/r/r to put bread
> on the table. Consistently. Come on, the beauty of the whole business
of
> day trading is that you are out of the clutches of all those who want to
> tell sell you a service, a system and all the other wonderful things.
>
> Of course newbies will get fried on pork bellies and drowned in orange
> juice. But as soon as they buy a system, rather than learn to trade, they
> are also dead meat. That is why the system boys are constantly looking
for
> newbies. Dear O dear, it is all so obvious...
>
> By the way, I will not respond to the flack, but those that want to absorb
> what is said can and those that don't, won't. But please look at the
bonds
> price action today. Look for yourself and see the facts. Not opinions or
> predictions. Hopefully, you will agree that you had all you needed to
> know, in good and proper time to be ablt to profit. Furthermore, there
> really wasn't anything else that would have told you better.
>
> Happy trading,
>
> Bill Eykyn
> www.t-bondtrader.com
>
>
>
>
>
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