Man, am I glad I'm a day trader

Quote from Tech Analysis:

Market up 120 points one day now down over a hundred the very next.

Can you imagine long-term investing through all this madness?

And they say short-term traders assume all the risk. :D
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I looked at the up day and thought " that is not a reversal, just a nice spot to go short"

maria
 
hehe
actually what I said was common sense

If you think about it

the first day reversal, its called a reversal for a reason, nobody knows its going to be going up, so nobodys going to be preparing to be buying big for the long term on that same day unless they are just momentum players/daytraders.

That and my time machine told me all about this day, which is why I Didn't go long on anything I was prepared to today :D

Nobody knows whats going to happen unless you have one of them machines!
 
Quote from Tech Analysis:

Market up 120 points one day now down over a hundred the very next.

Can you imagine long-term investing through all this madness?

And they say short-term traders assume all the risk. :D
More...

So let me guess. You didn't make a trade. You missed the runup and the rundown. Now you are on here to do exactly what? Confirm that to others?

1.5% is madness? What about the period between 1999 to 2002 of 3% swings in a day?

What about if you held 100K lot of Lucent and the thing downticked twice.

Face it. Your a wimp. This isn't a game you should be in. Close your account immediately, don't pass Go and put it all in a 4% EmigrantDirect.com Certificate of Deposit.

My god, first a 17 year old kid posting on EliteTrader, now someone who's never seen 1.5% volatility.

I SMELL FEAR.
 
If you did not have one of your TOP trading days either yesterday or today, as far as I am concerned, hang your trading hat up.
 
Quote from Trend Fader:

WRONG..

Bceause daytraders use something called leverage and have a greater tendency to blow up their account much faster than your typical longer term investor.

Daytraders also get eaten up by slippage and commisions and other types of junk fees..
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Really? I wish i was as smart as you.
 
Quote from Surdo:

If you did not have one of your TOP trading days either yesterday or today, as far as I am concerned, hang your trading hat up.
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Ummm, how long have you been trading? Maybe one year?

Yesterday and today were a dime a dozen back in '99 and 2000 (and many days since). Even this calendar year there have been some really great trading days.

Maybe you had one of your top trading days, and that's great, but let's not get too carried away.
 
Quote from Longhorns:

Ummm, how long have you been trading? Maybe one year?

Yesterday and today were a dime a dozen back in '99 and 2000 (and many days since). Even this calendar year there have been some really great trading days.

Maybe you had one of your top trading days, and that's great, but let's not get too carried away.
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He's only saying that because he finally got two days right. Just watch, he'll give it all back in the next few days. :D
 
Quote from EtfTraderLives:

He's only saying that because he finally got two days right. Just watch, he'll give it all back in the next few days. :D
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yep... two days wouldn't define you as a good or bad trader.
 
Quote from Surdo:

If you did not have one of your TOP trading days either yesterday or today, as far as I am concerned, hang your trading hat up.
More...

If I only made 100 bucks a day I would be saying exactly the same thing. Ha!!!
 
Interesting,

Today I was looking at my trading notes from 2-29-2000 of 4 star plus long term recommendations (from a well known service).

Had one followed the long term hold recommendations about half of the stocks tanked big time in five years. The other half went up maybe 50% or more. Overall a bust and a waste of time, had one followed the long term recommendations.

I'll stick to day trading unless it's a bank or consumer staple high dividend yield stock.
 
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