I couldn't agree more, Spytrader. I tried the daytrader routine (more like week trader, in my case), and it damn near drove me nuts. Not only was I distracted as hell, I lost $30,000 (half my stake); to say I was unhappy was putting it mildly.
I came to my senses on December 1 when I bought 1,000 shares of EGRP at $25, and solemnly swore to myself that I would hang on to it whether it dropped to $5 or soared to $160--which is where it's at today (pre-split price). I still like to follow the movement of the stock, but I'm not torturing myself any more. If folks like Marketbriefing.com can make money doing the daytrading routine, more power to them. I'll put my last six months against virtually anyones, however (my other stock is WAVX--Wave Systems--which I bought for $4 and is about $19 today). And I'm not driving myself crazy, which is worth more even than the money... |
