Expert: Kenneth W. James, CFA - 12/28/2004

Question
I am 62 and would like to make added income with day trading.  I have about $100,000 I could afford to lose - even though I'd rather not.

I have read about 30 books ranging from Graham's classic to various 'winning strategies' using the Internet.

Over the last 5 years I've 'paper traded' with the various techniques, and none of them seemed to work well - and I'd be lucky to break-even.

How can I find a good strategy to work with and separate the 'junk' from the 'jewels'?

What is the best thing to trade to maximize return and minimize risk - equities, commodities, ETFs, currencies, etc.?

Also, how can I differentiate bad trading software from good (is there any good?)?

If I wanted to develop my own trading model, where can I get a comprehensive database of stocks, mutual funds, etc., and all their associated factors and ratios, spanning the last 20-25 years, for a reasonable fee


Answer
I cannot answer this question for you.  I am sorry.  I would encourage you to not day trade.  It's too bad that you will likely lose most or all of your $100,000

Other good sources of investment that you can execute intelligently with a buy and hold, diversified portfolio include ishares.com or the PIMCO Real Return strategies found at pimcofunds. com

Good luck.
KWJ