Good grief man. Lay off the weed. It's making you paranoid ....and otherwise fuckin' with ya.
They 40 year old daytrader
- Thread starter empee
- Start date
and this dude definitely has the knowledge, skill and experience....
thank you, hershey, it's because of you that i'm turning the corner to profitability today. you said ONE THING that made the difference for me. i printed out your voluminous texts and read the summary which crystallized it all for me. was so excited about what i read that i decided to backtest and see for myself. spent the whole night looking back over charts to see if i could identify things like du and frv. i could and it made sense. the next day, armed with these tools, i went into battle with the markets and for the first time, felt like i was in total control. your texts also showed me how i could swing trade stocks profitably and know when to sell. i used to just buy support and sell resistance, but that often doesn't work out. now, armed with your tools, i have more confidence to the trade.
a longwinded thank you, but a heart-felt one...thanks!
Geez Dr Z I give you a nice summery of one mans pain travelling through the dark tunnel of turning 40 and trading most every day and that's the response I get?
Paranoia is not paranoia when it's laced with fact.
Keep hitting the cover off the ball princessa, I like your style. Remember there are many tactics to take to squeeze money out of a stock- catching a great company when it has a bout of bad news is one way- the classic rebound. That's often a good way to wiggle into a longer term position. Buying breakouts w/ volume is a ST traders best friend, and always remember- if the story matches the price action,
" resistance " levels are all in the mind.
peace.
Paranoia is not paranoia when it's laced with fact.
Keep hitting the cover off the ball princessa, I like your style. Remember there are many tactics to take to squeeze money out of a stock- catching a great company when it has a bout of bad news is one way- the classic rebound. That's often a good way to wiggle into a longer term position. Buying breakouts w/ volume is a ST traders best friend, and always remember- if the story matches the price action,
" resistance " levels are all in the mind.
peace.
Jack Hershey is becoming a mentor to me because what he posts is consistently wise.
I am in my 40s and can tell you experience I have will trump any fast reflexes of a young whippersnapper anyday. There is BLATANT AGE DISCRIMINATION though if you work for someone. I warn all who want to do this for a career working for someone that you will most likely get f&(*d over in your 40s. I did and know a zillion other miserable cases.
dude...I'm 41, I've been trading since I was 24. Trading is the only real job I've ever had. This is in no way a "dark tunnel."
Remember ...just because you're paranoid doesn't mean they're not out to get ya.
Remember ...just because you're paranoid doesn't mean they're not out to get ya.
Hi Stonedinvestor - if you were a bit older, sounds like we cudda bumped shoulders at some of the 60's - 70's rock festivals, judging from your moniker - hahaha. I find your response quite interesting, but also find myself on the other side of the fence. Some comments, as I pull some snips from your post:
Snip: "The fearlessness which so grooves your every move in youth is replaced by a cynical eye. Music begins to suck really bad. "
I'm not so sure fearlessness is such a positive attribute for youth. I do not deny that the spirit of invincibility pervades the mindset of the young. But personally, looking back, I feel very fortunate that my friends and I even survived, considering some of our errant ways
And I don't believe offering the idea of fearlessness to a young trader is a particularly helpful idea. And, as far as music sucks, I am just thankful that I finally reached a point in life where I could dump some discretionary funds into my high- end system. I'll pass on the Rap, but bring on the rock-n-roll and we'll have a good time - heheh. And as a side note, my moniker was taken off the front of my CD Transport - an Audiomeca Mephisto II
Snip: "On my 40th birthday my stepfather collapsed into his food plate and had to be taken out on a stretcher. No drugs that night! Then at 41 I had some strange urine problem. I was going all the time. Things like this just aren't good for the headspace."
I would be the first to agree that health issues suck. Unfortunately, that is just an aspect of life that we all contend with - some are just luckier than others in this regard. Glad to hear your problems weren't life threatening - I think I've had 4 or 5 bouts of kidney stones, and that sucks too, believe me! But these started in my early twenties - some kind of genetic defect as to be predisposed. But do I lay awake worrying about if and when the next attack might hit - hardly. A totally fruitless endeavor. Life is what it is, and I deal with it on a "as needed" basis.
Snip: "To be always short term is to be shortsighted. Nothing beats a good 100% gainer.... and nothing beats the knowledge you can attain by studding the whole market not just fast moving flame outs. To confine your investing world to momentum is to label yourself incapable of leading- you will always be a follower and the ideas will never be yours. If money is all that matters perhaps you can live with that. I would think reflexes are the least of your worries... "
Hmm - not sure where to start on this one I've held some large caps for over twenty years, and I've had numerous 30 sec trades in the Euro, so I guess I'm just a very confused person. But when scalping the futures, I can only hope that I am in front of the herd, so I don't consider that as being a follower. One thing I do know is that I always beat the alarm clock out of bed, because the internal anticipation has already started to build for the new trading day.
Just boils down to different strokes for different folks. It's all based on perspectives, and they are all unique. Cheers ...
Snip: "The fearlessness which so grooves your every move in youth is replaced by a cynical eye. Music begins to suck really bad. "
I'm not so sure fearlessness is such a positive attribute for youth. I do not deny that the spirit of invincibility pervades the mindset of the young. But personally, looking back, I feel very fortunate that my friends and I even survived, considering some of our errant ways
And I don't believe offering the idea of fearlessness to a young trader is a particularly helpful idea. And, as far as music sucks, I am just thankful that I finally reached a point in life where I could dump some discretionary funds into my high- end system. I'll pass on the Rap, but bring on the rock-n-roll and we'll have a good time - heheh. And as a side note, my moniker was taken off the front of my CD Transport - an Audiomeca Mephisto IISnip: "On my 40th birthday my stepfather collapsed into his food plate and had to be taken out on a stretcher. No drugs that night! Then at 41 I had some strange urine problem. I was going all the time. Things like this just aren't good for the headspace."
I would be the first to agree that health issues suck. Unfortunately, that is just an aspect of life that we all contend with - some are just luckier than others in this regard. Glad to hear your problems weren't life threatening - I think I've had 4 or 5 bouts of kidney stones, and that sucks too, believe me! But these started in my early twenties - some kind of genetic defect as to be predisposed. But do I lay awake worrying about if and when the next attack might hit - hardly. A totally fruitless endeavor. Life is what it is, and I deal with it on a "as needed" basis.
Snip: "To be always short term is to be shortsighted. Nothing beats a good 100% gainer.... and nothing beats the knowledge you can attain by studding the whole market not just fast moving flame outs. To confine your investing world to momentum is to label yourself incapable of leading- you will always be a follower and the ideas will never be yours. If money is all that matters perhaps you can live with that. I would think reflexes are the least of your worries... "
Hmm - not sure where to start on this one
I've held some large caps for over twenty years, and I've had numerous 30 sec trades in the Euro, so I guess I'm just a very confused person. But when scalping the futures, I can only hope that I am in front of the herd, so I don't consider that as being a follower. One thing I do know is that I always beat the alarm clock out of bed, because the internal anticipation has already started to build for the new trading day.Just boils down to different strokes for different folks. It's all based on perspectives, and they are all unique. Cheers ...