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Jay Gould - very articulate and extremely focused. Cornered the gold market for god's sake. Charles H. Dow - summarized speculation the best. Still hasn't changed even today. Founded the DJ averages. Jesse Livermore - contrarian trader who loved to live the high-life and luxuries of being...

This thread basically says most independent traders are Introverted. ISTJ myself. Which makes sense of course.. it's a one-person job. And you have to be able to cope with the lonliness factor.. or at least it shouldn't bother you to an extent.

I only turn on CNBC to get a general idea of where NOT to put my money. Come home from day job and watch Cramer's Mad Money for lots of laughs. Hey, you'd be surprised how much stress you can unwind by watching his show. Dont watch Kudlow though, he'll do the opposite.

Continental US only. I understand this question could more or less be subjective to personal taste. But if you had the option to just pick up and move this instant, which time zone would you prefer to trade from? Not sure if I could ever wake up early enough to start trading at 630am PST.

What to think of Cramer? Well at least he's funny. As a person, yes, he knows how to make money. He ran a successful hedge fund obviously (again, all thanks to his wife). But as for his show Mad Money? Forget it. It's mostly entertainment.... financial entertainment for the masses if you...

Just being himself violates a cardinal rule of trading: Never get emotional about stock..... my god, his show is nothing BUT emotions. My take is that his monetary success is all thanks to his wife, a former hedge fund trader herself. His fund would've been liquidated in 1998 if it weren't...

Markets are NOT a zero sum game because: 1) Markets are not efficient, which is why secular booms and busts occur every 20 years or so. History is facts. 2) The existence of derivatives (futures, options, other leverage systems, etc) make it impossible to be zero sum.

Ebo, thanks for the links. Trader tax status.... right now the IRS sees it as the number of trades you do for the year, not the quality of the trades or the cash amounts. I'm just wondering how long-term swing traders, who have no other jobs, qualify as a trader to the IRS.

Tax season always pisses me off. As the saying goes, "If you win, the government wins with you. If you lose, you lose alone." It's so infuriating! I want more than anything to live my dream of speculating for a living, but the tax treatments literally kick you to the ground. Trading in the...

From everything I've read, it seems that to qualify for trader status in the eyes of the IRS, you pretty much have to be a manic daytrader with an itchy trigger finger. But my style of trading is longer term (several weeks, months, years). I may make around 40-60 trades per year. That's not...

Just know that NO degree will actually teach you how to trade. Having college degrees will always help in life in general, but how it would help in trading is unquantifiable. Trading on the side while having a day job is less stressful. At least you know you have a steady income. But trading...

I'm surprised by the number of people starting with less than $10k. Are there any traders here that actually built that up to over $100,000 (without adding more capital)??

I guess you're referring to stocks that pay out dividends.. assuming you're on the long side.

How much was/should be your initial stake?

It means go after women indirectly. Don't expend energy chasing them; expend it on yourself first. Start focusing on your passion in life, something that you do best and are proud of. Put all your heart, mind, and energy in becoming very successful at what you do. And ironically, this...

Then you are just lucky.

Read up a little on Dow Theory. It would've prevented a misread like that. The Dow Transports made another new closing high on thursday... no way in hell I would short the market the very next day.

It's never a good idea to have all your eggs in a single basket. That's good advice in any field, not just trading. So in general, when should you start spreading out your net worth among several brokers? When you reach a six-figure account? Seven?

The University of Wall Street doesn't hand out diplomas.. not to anyone, no matter how successful some traders may be. Trading for a living is the essence of lifelong learning.

What if you had a government job? Job security is pretty much guaranteed.... that's my dilemma.