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James -
The point that I think Norm is trying to make is that given the high number of
transactions that daytrading usually entails, it is crucial to get your cost per
share very very low - like local market-making traders on the stock exchanges
have.
I'm sure you checked out the report on daytrading released this summer by state
regulators at NASAA - in that report, I believed they said from the limited
number of daytrading accounts they had examined as part of their study of the
industry, the average daytrader would have to return roughly 56% in order to
overcome the commissions they rack up through their daytrading (that is, before
they started making profits).
Sincerely,
Michael Strupp
M.S. Financial Markets and Trading
Illinois Institute of Technology, Chicago
James Ang wrote:
> I don't get your point.I'm just planning to trade stocks ,and commision is
> part of this business.Do you think I have to be a member of stock exchange in
> order to be a profitable trader? By the way, thank you very much to all who
> share their info.with me.
> boyaks
>
> nwinski wrote:
>
> > James Ang wrote:
> >
> > > Hi,
> > > I'm considering to buy the book of linda roschke (smart street) because
> > > I'm planning to day trade equities ,
> >
> > NW: Why? Do you have a membership on a stock exchange so you can trade for
> > very little commisions? Are you sure you will be more profitable with the
> > constraint that you must exit
> > all trades by the end of the day?
> >
> > Cheers,
> >
> > Norman
> >
> > > the review in amzon com. is very
> > > encouraging, any comments?Or is there good (books) source on how to day
> > > trade stocks.Thank you.
> > > Boyaks
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