Clarification/Follow-up by Ccl471 on 12/02/05 4:54 pm:
Well, I think the majority of those day-traders who lose money are trading without the software I was referring to in my question. Undoubtedly, I would lose money just like they are too, if I wasn't using the software.

I've seen an infomercial on tv that was marketing Forex trading software. They said that the program would monitor the markets real-time and tell you exactly when to buy and when to sell. They said using their program their customers have become millionaires in no time.

So my question was about whether or not these trading programs can deliver what their marketers promise.


C.L.

Clarification/Follow-up by kkemper on 12/03/05 4:51 pm:
IF any software made day trading much
safer or more accurate [I claim it cannot be done since stock markets are auctions]
I claim the user would net in excess of
$1 million a day easily.

They would need INSIDE information to accomlish that. IVan Boesky and Mike
Milken did so [netting almost a billion
each] and went to fed prison.

otherwise, when you sell a stock for
$12, and I want it to re-sell under my
guidelines, let's say I buy it--$25,000 worth PLUS commissions] and I expect it to
go up to $18.00, and it goes up to 17.50 and drops down to 11 and stays there, my money is tied up indefinitely. IF i sell it
at 11 to get out of it, I lose $ and still have to pay a commission.

IT IS therefore, without inside information,
impossible to control the numbers. IT IS a fact, agreed, that one can limit one's risk
by buying options.

puts and calls are an industry unto themselves.

i know one man who owned a plumbing company with several trucks and a house.

the year day trading was made available on the net, he went into it. He would lose $15k and gain 25k in a week.

after 1 mo, he was wiped out.

i am guessing effective day traders average
hundreds of hours a week and if they start with hundreds of thousands of dollars and
are accurate 90% of the time, they can
gain 50% on their money over a period of a
year. That is still a loss when considering all the components of investments, time,
utility value of money,e tc.

luck to u

[software guys have tried to perfect auctions for years.]