Replies to post #346 on *DAY TRADING ACADEMY* (ZZMAN)

[zigzagman]

As usual, a very precise and informative post...

Thanks chichi2...I now see it was a call from the TechTrader website...I'm sorry...I thought that you were endorsing his call..

And BTW...I didn't "send" anyone to your board today...I gave a student of mine a link to your QQQQ chart in an effort to show him what a great technical analyst thought about it, because I don't follow the Nasdaq anymore and I really couldn't help him much with my chart analysis of the Q's especially during reporting season...If they show up and start posting incognito or in PM's to you, it has nothing to do with me...And to not post on the public board is rather odd IMO...

I teach all kinds of people how to Day Trade, and I know most of them don't qualify as "true" Day Traders because they don't meet the minimum cash requirements or can't qualify for a Margin Account...

I still teach them how to do three round trips a week with 1000 shares of an inexpensive and volatile stock...That way they too can make a decent income...Lately, many of my students come from the ranks of the recently unemployed...I try my best to help them out so that the can survive these hard times...They pay me a measly $100. to get my 15 years of experience in a small but powerful package...

If their accounts are large enough but still don't qualify for a true Day Trader's account, I teach them to split the account into thirds and trade one third of the account each day once...That way they can trade once every day of the week...

I don't discriminate against people who aren't as lucky as I am, and I try to help them out the only way I know how...I try to teach them how to become successful Day Traders...And holding any stock overnight is not what a true Day Trader ever does...

The way the Futures can make a stock gap up or down in a big way at the opening bell, that's not skillful trading to me...It's just dumb luck, like my DNDN trade the other day...

I was willing to lose almost $7K dollars on that trade because I can afford to...IF their Phase III results had been BAD, that's surely what would have happened too...It probably would have opened up that morning at ONE dollar...

I took a huge gamble holding that stock overnight...Once in a while I'll so that if I think the risk to reward ratio is in my favor...

Happy Trading!
zzman