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thanks everyone...

I may have come across as saying that I though daytrading was the be all and end all..... i wouldn't mind day trading if the risks were lower then a short term trade, but I guess the risks would be similar if you had similar or sensible stop losses....

I guess this brings up another question, which I hope is not going too off topic.

I understand due diligence, which I use for other areas.... for the long term stocks, eg mining.... then I would say its quite obvious.. its just the when.....

however, how do you find out the performnace of a company in the short term...are we intending to trade based on no news and taking advantages of the small gaps that are created by low volumes... or are we intending to trade based on the expectations on  some news, which I find to be a bit risky...

the reason I question the above is I see lots of experts, traders, long term traders, brokers and basically anyone who is or thinks they are good.... get it soooo wrong.... they can't even explain it themselves...  I can name heaps of examples (not proclaiming to be an expert) eg SDL.  I believe it was a recommended buy at about 60c by a few leading brokers.... it went up to 85c or similar, and now its back down to 50c........

what I am asking is, if even these guys who supposedly study these stocks full time can get it so disastrously wrong, how can we all have a chance.

I hope I am not blabbering on...