Day trading article on nytimes.com

[loik]

Day Traders 2.0: Wired, Angry and Loving It

 

[HuggieBear]

Ahhh there's someone who's reached the pinnacle of success.

 

[Newman]

Quote from HuggieBear:

Ahhh there's someone who's reached the pinnacle of success.

making 100 k or so a year is nothing

granted majority have nothing

but still 100 k a year is nothing for a good dentist or a doctor.

you might as well go dental school if 100 k is most trading can give.

 

[FattBurger]

Quote from Newman:

making 100 k or so a year is nothing

granted majority have nothing

but still 100 k a year is nothing for a good dentist or a doctor.

you might as well go dental school if 100 k is most trading can give.

Correct, I hear this is a great time to get into the medical field. As a matter fo fact half of them may retire due to Obama care, hum.

 

[tmarket]

Quote from loik:

Day Traders 2.0: Wired, Angry and Loving It

They still have a lot to learn from Carter and Senters over at TTM - like no jumping on the bed.

The company charges aspiring traders $199 a month for a live, real-time view of Mr. Lindloff’s computer screen, along with the running banter, commentary and advice that he and Mr. Gomez provide through the morning.

 

[lescor]

The same as every other daytrader article. Ignorance and underlying anger by the author at the idea of someone actually doing this and not losing.

Interesting comment on one of the guys profiled. Averages $100 to $120k a year for ten years. Consistent and better than average but a spectacular fail in terms of actually improving as a trader. If you've survived and been that consistent for that long with a decent account, you should be able to do way better than that, at least for decent runs. The guy is not taking advantage of his best asset - experience.

The part of the article that really makes you shake your head is that these guys are probably not far off from making more running a two-bit chat room than from trading.

 

[illiquid]

Quote from lescor:

The part of the article that really makes you shake your head is that these guys are probably not far off from making more running a two-bit chat room than from trading.

Exactly- why bother to operate a chatroom if you can actually trade. If they actually came across something that worked, they'd probably shutdown in a week.

100k per year avg probably = 500K for 99 & 00, then zilch since then.

 

[coolweb]

I'd say blaming the automated robots on running his stop would be a clear sign of his trading skills


THE ROBOTS ALWAYS AFTER ME.

People don't refer to bad things as normal people or, good traders, they try to refer to them as robots , or swamp monster, or freddy kuger.
When you call them robots, theres no way you can battle robots, Its like T2 coming after you, who can stop T2?

 

[cstrader]

True that making $100K a year sitting in front of a terminal hours a day is not that great. Swing trading makes more sense but is a lot less sexy.

 

[stevegee58]

Quote from Newman:

making 100 k or so a year is nothing

granted majority have nothing

but still 100 k a year is nothing for a good dentist or a doctor.

you might as well go dental school if 100 k is most trading can give.

Funny you mentioned dentistry. dentist007 only drills part time now and trades mostly. It's a matter of what you really like.

I'm an engineer and make good money in my day job. Why would I want to give that up and trade full time? Because being a corporate drone effing sucks, that's why.