Daytrading?
I was a long term investor probably longer than you have been on this earth. My first buy was EDs, Ross Perot's company, in 1969 or so for $20, six months later I sold for $160.
I have never had such a winner since. If, and that's a big if, you choose the right company, MSFT is the ultimate example, you can make good money over time. The problem is, say you buy 10 small companies, one of them will grow big time, if you're lucky, and you'll lose money on the other nine. After you've wasted a few years holding all 10, you will be loser. Timing is critical, remember IBM several years ago, went from 175 down to 40 and back again taking about 5 years for the round trip, so you can lose on any stock. Oh, I took market letters and bought their reccommendations with a open mind, hold longterm and win they would say. Well, with these computers and the data one can get these days, there is no need to waste time and money holding for the long term. You obvioulsy have not been through several "Bear" markets yet. I began Daytrading about 3 years ago and after about one year experience began making more money than I ever did playing long term. Also, pay day is every day, not some day in the future if everything goes well and since I don't own any stock at the end of each day, I sleep very good. |
