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Author: KBGlenn Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 11006  
Subject: Re: Bull, Bear, or Flat Options to the Rescue!! Date: 3/26/2004 10:16 PM
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No advice, but there was an interesting article in this month of last month's Kiplinger's Magazine on day trading and what generally seperates successful from unsuccessful day traders.

A couple of main points they brought up:

1. The ability to remain emotionally detached (not easy to do when for the most part you have to wade in at the opposite of what everyone is doing and your brain is telling you).

2. And most importantly trading discipline. The article notes that some of the most successful day traders have tended to be commercial/military pilots who are used to using a checklist and sticking to it.

All the traders interviewed noted that there are very few people they knew who have been at it through both the up and down of the past 3-4 years...in short a very high attrition rate.
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