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In that same book I refered to in the original message, the author said something that made me really think. Again I'm paraphrasing, but he said something like: "Take accounting for example. It's simply a set of defined equations that you plug different numbers into. You would think that such...

Forgive my ignorance, as I'm an uber-newbie, but what does the over all market matter? Isn't that the point of day trading? That you don't have to worry about the macro picture? For example, if you have a trend following system set up to a 1 minute chart, then why would a bear market matter...

From what I hear, trading is all about psychology. Given that, how do you guys deal with being in a profession that most assume guarantees your failure by its very nature. I'd say 99% of academia, the media, and the general public think it's impossible to make money as a daytrader, and all who...

How do you guys do it?:D

"You cant really daytrade the spy" Why not????

Ok, I think I'm gonna have to start backtesting my strategies if I actually want to make money. I suck as a programmer. What's the best software to use as far as ease of use and cost? I get the impression Tradestation is the most commonly used software, should I just get that? I've also heard...

"why not start out doing 100 share lots of SPY, or even 50 share lots of SPY" If you trade 50 share lots of SPY will there be any negative consequences like bad fills?

I remember reading something out of a book, maybe it was The Psychology of Trading, and the author said something to the effect of, "Don't try to make a mechanical system. Back testing is useless. The persuit of mechanical strategies is the result of being fed for doing nothing while you were...