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Magal Security Systems (MAGS) Message Board

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  • magsdaytrader magsdaytrader Apr 29, 2004 5:52 PM Flag

    LONGS AND SHORTS. PLEASE READ

    One more important detail. Stay away from James Cramer. Do not trust what he says. Other stocks I lost a lot of money on, include EP, JNPR, NT all stocks that at one time or another were or still are his favourites. When daytrading, be nimble and take quick profits. End of story.

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    • >>>Stay away from James Cramer<<<

      That is the best advice anybody can listen to.

      BTW...you've crushed my dreams on becoming a day-trader (well not really...but was a disheartning story). I'm waiting until later this year to quit my job as an engineer, and becoming a day trader. Once I get my my working capital to 100k (no margin!), I'm going to shoot for a .5% to 1% per day average return, without holding ANYTHING overnight. I think your theroy about daytrading momentum is a solid one...watch the open, jump in on the risers, get out after my .5% to 1% return. On a 100k investment, that would equate to $2,500 to $5,000 return per week. Works for me. Anybody heard of or use WizeTrade software? I'm thinking of purchasing. Thanks.

 
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