About victor mader Expertise I`m not a broker therefore I can assure that I earn no monies from my unbiased advice. I usually don`t comment on specific stocks but rather how to avoid getting "taken" by any unethical brokers, financial advisors, etc. I have 35 years of personal experience and stay well informed. My goal is to make you a better informed investor. I`ve been told by several stock brokers that I know more than many registered brokers.
Experience I spend an average of 1-2 hours per day reading about investments and have since 1965. I now have accounts at DLJ and Goldman Sachs, two very fine firms.
Expert: victor mader Date: 4/9/2002 Subject: BETTING THE DOW
Question I have developed a system to trade the DOW. It doesn't work so well with the S&P or NASDAQ. I have not traded before and need help getting started. I have my data feed--Quote.com-Livecharts-$INDU-INDEX:INDU-1 Minute chart. I will use market orders, won't trade the open, and will go flat by the close. I can consistantly scalp 100 DOW pts. a day (not including slippage and commissions).This is approx. 15 roundtrips. I'm able to catch most swings in a day, cutting my losers quickly and letting my winners run. I need quick fills and low commissions, however I live in Canada, and the brokers up here rape us!!! Can you suggest an online broker-- a Daytek or direct access broker or futures broker? Can you suggest an order entry platform-I don't require a data feed. What ticker symbol would be best for me to trade--futures, or diamonds,? Please feel free to be brutally honest and enlighten me, as I am in sponge stage and will soak up as much knowledge as I can. Thank you--Louis575
Answer Dear Sir:
Nobody, and I mean NOBODY, can trade the Dow and consistently make money. In the end you will lose. I assure you the more often you trade, the more you'll lose. With spreads and commissions it's proven one cannot win.
I have no opinion on which method you choose to play, only that over time it will not work.
