Forum Archive Index - September 2002

[Holden Glova <dsafari@paradise.net.nz>]

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On Fri, 06 Sep 2002 01:15, tennyson@caverock.net.nz wrote:
> Hi Holden,
>
> >-- are there any major concerns people have with investing
> >into US markets versus NZ or AU? From glancing over some stocks I
> >have noticed that they tend to have larger high/low ranges for the
> >day but that would be attributed to the increased activity in the
> >market, wouldn't it? Which for a short term end of day trader this
> >would be a more suited market to dabble with, no?
> >
> >Thanks in advance for correcting any false assumptions I may make :)
>
> You know that room in your house that you get to by going through
> the front door?   The really big one with the blue ceiling with the
> big yellow light that moves around at roof level?  Well if you start
> day trading in the US, you may not have time to go in there for a
> while....
>
> Perhaps you might want to read the trading section of the aus.invest
> FAQ
>
> http://www.travismorien.com/FAQ/main.htm
>
> then select 'trading' from the top RH corner.
>
> Here is a short extract to whet your appetite:
<8-------------- snip a great extract -----------------8>

Wow - This FAQ is pretty much against TA day trading techniques. Some quotes 
that I couldn't believe where true...

"Secondly, apart from the information gap, the pit traders have a lot more 
money than you, and they can see your buy and sell orders on their computer. 
They often deliberately conspire against the public traders to blow away 
their stop-loss orders and activate their buy stops by dumping large orders 
onto the market."

And...

" The amateur day trader is little more than cannon fodder for professional 
traders."

Amateur trader is me.

Perhaps I need to reassess 'what sort of person' I am. Its kind of crazy 
though because I am a technical person (software developer for work) so I 
thought this style would fit the type of person I am. After reading through 
some of the above (still reading through it) it would appear that I perhaps 
need to alter the type of person I am. 

A strange world this sharemarket one.
- -- 
Signed,
Holden Glova
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