You make a good point about my "neighbors". I suppose it's all in how you define the term. I was defining it as "someone that day trades for a living".
The guy that lost the hunge large actually recovered. It took him almost a year. The other dude, the one that was up fifty and then lost fifty on the same trade, I never saw him again.
I've screwed up too. I mean I screwed up big time when I was learning. I did some really funny stuff, but it's mainly funny because I can look back on it now while I'm eating steak. The first big mistake I made was the second day I was live. I bought 1,000 ORCL and then sold it for a small loss about 15 minutes later. THREE DAYS later, the manager of the place where I was starting out mentioned that a 2,000 share position in one stock was dangerous for a new guy. I had no idea what he was talking about. He showed me how to read my statement (no kidding) and that's when I figured out that instead of SELLING the 1,000 ORCL that I owned, I had clicked the wrong box and bought 1,000 *more*. AND I had owned 2,000 ORCL for three days and not known it. AND it was down 3 points (of course).
It's all part of Day Trading College. The point I was hoping to make was that it's awfully hard to learn how to do it right if you are watching somebody that does stuff that is so dangerous that you can blow up if try to do the same thing.
I'm just an ordinary reptile, nobody famous. You guessed correctly about my book, though. It is in a safety deposit box, waiting for my kids if and when they are interested. It's not for sale, because it works too well. I guess I got really lucky. If it stops working, then I'll do a Jake.<G> |
