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I think you hit the nail on the head! Essentially day traders, in attempting
to scalp a few eights, are playing on the turf of the market makers and
other market professionals. There has been over-emphasis on making
technology available so off-floor day traders can compete with these people
on _their_ turf. This is not unlike the weekend football players acquiring
professional equipment so they can compete in Sunday NFL games. Most traders
who survive for the long haul, without burning out, find methods which allow
them to operate in a different time frame and different competitive
environment than the market makers. Certainly the off-floor trader has the
luxury of more time and facilities for analysis than the on-floor trader and
should use that to advantage.
Earl
----- Original Message -----
From: Judith Gledhill / Mark Oliver
To: Linda Swope ; Real Traders
Sent: Thursday, October 21, 1999 4:02 PM
Subject: Re: any suggestions for whipsaw?
maybe with 10 years experience i am too cynical but daytrading like this is
a relative recent phenomena of the bullmarket last 2 years to scalp for 3/8
its like trying to be a pricemaker in the ring you are trying to guess the
emotions of people with better access to information ,superior order routing
you may be making money but if the markets revert back how they were before
the last 24 months i think that this style of trading will die
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