how did you do when first started trading

Quote from Marc to Market:



What does any of this have to do with thinking and acting like a trader? Do you even know what scalping is? It's a type of trading that requires very little brain activity. Therefore, you could do it on three hours sleep or even hung over. This may sound ludicrous, but it's 100% true. Since you're a fellow New Yorker, I'm sure you heard the recent story about Yankees Pitcher David Wells pitching his perfect game when he was half drunk and hung over. How's this any different?

And I don't especially appreciate you putting words in my mouth: I never said I have little experience nor did I say I watch the markets 1/2 of the time (the truth is I don't watch the "markets" any of the time). I've been trading since the spring of 2001. In June of 2002, I blew my entire account ($40K) and also 75% of a $20K loan that my father gave me. I turned that remaining $5K into $50K in a single week flipping Worldcom. But you don't believe that either, right?

Marc
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I don't have an opinion on that one way or the other. I just don't believe that you make $15g a week, consistently, in 2003 trading stocks on 3 hrs sleep (especially for scalping you need to be very alert) from home with one monitor and a cable modem in a $100 g or whatever it is retail account with 1.5 yrs or so experience. BTW, teamates who played with Wells the day of the perfect game said that he was not drunk at all (and that he apparently has a history of imbelishing or worse-perhaps you two have a lot in common).
 
Quote from I Missed Boat:



Its true, especially nowadays, that this is where the best money is. The ranges are bigger, and the commissions are lower.
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Although scalping might not be a profitable endeavor for most, there are traders making good money scalping the nasdaq. I am in my sixth month of trading and average $2500 a week. It might not be millions, but more than enough to sustain me as a 22 year old.

jc
 
Quote from Marc to Market:



Did you read David Wells' book? He mentions it in his own auto biography. I believe it to be true.

As for 3 hours of sleep, what about former mayor Giuliani? A pretty "alert" and on the ball guy if nothing else (I thought he was a terrific mayor as well), wouldn't you agree? He would only get 3 hours of sleep a night.

Marc
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Have I read it? I thought it hadn't been released yet? In any case, as I said, his TEAMMATES say the guy is a regular liar and/or imbelisher, and that he lied about being drunk during the perfect game.
 
Quote from nwbprop:



Although scalping might not be a profitable endeavor for most, there are traders making good money scalping the nasdaq. I am in my sixth month of trading and average $2500 a week. It might not be millions, but more than enough to sustain me as a 22 year old.

jc
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I scalp too. I'm not averaging $2,500 a week this year (that's for sure), and yes $10g a month is very good (especially this year). However, I still believe that, especially now, there is more money and potential in swing trading than scalping (and that's all I was saying).
 
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