Our current net profit for July 2000 is $10,325 including slippage and $25 per roundturn commission. 87% winners, with no losing days and only a $825 drawdown. Join us.
Whatever happened to the work ethic of our forebearers? Great minds of the past such as P.T. Barnum, J.P. Morgan? Men who made their money the old fashioned way, "They earned it."
TRADING: HARD WORK + DISCIPLINE = SUCCESS
Today's mantra: "Get rich quick," "Easy money," "Who Wants to Be a Millionaire?" Who is not sold on the idea of something for nothing? Game shows are popular as they cater to the idea of easy money; just answer a few trivia questions, "Hey, I know that one," "I could do that." It gives the easy money mentality hope and a promise of a better life, without effort.
But people, please, take off your rose colored glasses and take a look around. This market has gone too far, too fast. Explore the possibility that the markets are still far overbought; Internet company valuations are out of control.
When we have so called "hugely successful" companies hemorrhaging millions of dollars every quarter, something is terribly wrong.
BUSINESS MODEL: NO PROFIT + HIGH COSTS = TROUBLE
How long can a company continue to lose money yet stay in business? We may soon find out. Case in point, Amazon.com, whose business model is based on selling goods at less than cost. I note that in the last 52 weeks, Amazon (AMZN) has gone from a high of 113 to a low of 32 15/32 with the current value (as of July 17, 2000) at 41 3/16.
Are you one of the Amazon stock owners who recognized the downturn and
sold at a nice profit somewhere around 113? What about 95? 87? Anywhere?
This is where learning short-term trading strategies will pay off for
Don't be afraid to take a profit. When prices are high, greed takes over. Many say, "If I take a profit and it moves higher, I'll be sorry. I'll be wrong. I'll have lost money." No! Wrong message. Change your self-talk to, "If I take a profit, I'll have made a profit." The idea is to make money, not just to be the proud owner of stock certificates. Counting money you never had is foolish. Playing the "what if" game is a waste of time.
Concentrate on the here and now. A popular financial magazine ran a recent
article entitled, "Mistakes Investors Make." One "mistake" cited was taking
a profit on a stock that went on to higher valuations. Taking a profit
home is not a mistake. Longer-term traders and investors can greatly profit
from daytrading techniques to exit at a profit. If you buy and fall in
love with stocks such as Amazon or Microsoft, then sit watching as price
rises to the heavens and falls to the basement, this is not a healthy
relationship. Create a reasonable exit strategy. Take your profit, you
deserve it and you earned it. Re-enter your favorite stock when it is
prudent to do so and make money in the market.
Here is one part of a simple trading strategy:
Take the value of the highest high during the last 50 days and the value
of the lowest low during the last 50 days. Average these two prices daily.
When price rises above the line, buy. When price moves below the line,
Review our Tips section on Pulling the Trigger.
Kathryn Martyn, NLP Practitioner, offers "Mental Success Coaching." Designed to assist traders and investors in obtaining the proper mental processes to trade effectively.
1. Eliminate hesitation or second guessing.
Learn the mental processes necessary for trading the right way. Using simple NLP techniques, you can overcome your limiting behaviors and make lasting changes, usually in one session.
The Dismal Scientist® offering comprehensive and timely economic information, analysis, data, tools, and other features designed to keep you fully informed on the state of the world economy. Excellent, and "The Best Free Lunch on the Internet."
============ Tips, Tricks & Techniques for Daytrader's
Download our free E-book: Tips,
Tricks & Techniques for Daytraders.
This text fully describes our methods in successfully trading the S&P
500 with a small starting account ($30,000).
Do you use Outlook 98 or Outlook 2000? If so, you are probably aware of the E-mail update patch that has been recently posted and is available for download. "This update limits certain functionality in Outlook," says Microsoft. This is putting it mildly.
The purpose of this patch is to disable Outlook's ability to receive most attachments directly in the e-mail. Plain text may be okay, but pretty much all other file types, including Microsoft's own Word and Excel files (many traders receive numerous Excel files), executable files .exe (such as updates and patches), html files, and the list goes on.
The idea is to halt the proliferation of E-mail viruses, but this time the cure seems worse than the disease. Once this patch has been installed (and it cannot be uninstalled) you'll no longer be able to directly open attachments that are classified Level 1 by Microsoft. You will also lose the ability to click a link in an e-mail and go directly to that page in your browser. Yikes! Suddenly E-mail isn't much fun anymore, is it?
Is there an option? Sure, don't install the patch and follow the safe E-mail procedures described below.
Read more from Microsoft: Outlook
98 Update: E-mail Security
StockVue 2000 Plus lets you track and manage stocks without paying monthly subscription fees.
Version 4.1 offers the following new features:
StockVue 2000 Plus 4.1 -[http://www.stockvue2000.com is no longer working as of Aug. 4, 2001]
for all our software reviews and recommendations, plus computer tips.
Your computer is a tool. Learn to use it.
Trading Systems and Methods is a reworked edition of Perry Kaufman's classic New Commodity Trading Systems and Methods. This new edition contains much of the valuable material of the original book as well as new sections on Expert Systems, Fuzzy Logic, Fractals and Chaos, Neural Networks, etc.
This book is a valuable reference that should be on every trader's or investor's bookshelf. We use this reference work often and recommend it highly.
Books are the single best and least expensive way to learn more about
June was a difficult month for most traders. Our cumulative net result up to and including July 18, 2000 on our model account is $36,125. This is a 120% annual return and includes the recent drawdown period.
These results are posted after each trading session (late evening) on page 6 of the Overnight Update and also can be viewed on our Cumulative Net Results pages at
Contact Info: http://www.daytradersbulletin.com/html/contact.html
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