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Norm,
There's nothing that says you MUST exit all trades by the end of the
day other than the definition of day trading. And before James
selects a broker, he should negotiate RT commission based on volume.
If the broker doesn't want to cut a deal, then he doesn't get the
business. He should also look for a broker with an automatic
end-of-day sweep of all cash balances into a MMF. Every last penny
has to be working for him. I don't know what James has in mind for
trade size but that will clearly impact profitability. I don't know
if he wants to pay the bills by day trading. If that's the case, he's
going to have figure out if he has adequate capital to take even less
risk than he might normally. He needs to be to withstand a string of
losses with little impact on his total capital.
Personally, I hate day trading because of being chained to the screen.
It's worse than 9-5. I'd much rather position trade with a trailing
stop. That way I'm free to do whatever I want to during the day. I
can even day trade if I want. <g>
Regards,
Mike
--
Aboard 35' Edel Cat "Moongate" in New Bern, NC
> > 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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