Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: BoyTrader who wrote (717)	11/17/2000 10:34:41 AM
From: tradermike_1999	Read Replies (1) of 74559

Advanced age and years of experience are not absolutely necessary to project the "coming financial collapse". However, I do see Joshua's point: a 25 year old swing trader with no formal financial background (a liberal arts history major, no less) claiming that our econony and financial markets are on the verge of collapse. In any event, you may be right. I don't know. You may be a genius, a prodigy. The next George Soros. Again, I don't know. We will soon see if your crystal ball is correct. It doesn't take a genius to trade the stock market succesfully. Just a basic working of technical analysis and the discipline to stick to a trading method that incorporates risk managements techniques. In the meantime, in order to dispel (to some degree) your naysayers, perhaps you may want to enlighten them on your yearly returns for the last 3 years. I would be most interested in your year to date ROI. Further, if you don't mind, you could give us an idea of the kind of dough you are slinging around. Its certainly easier to claim a 400% return by turning $10k into $50k. In fact, many idiots have done just that. But turning $2M into $10M (using personal funds) this year would have been quite a feat. I started with 10k a few years and now am up in the high 100s... One thing - a few weeks ago when the market bounced off 3,000 I got a very long and nasty email from some guy. He had bought on the dip and was claiming that anyone who doubted the bull market was over was crazy. He claimed that the reason I was so bearish was because I had lost money all year and am now selling on the bottom... Point is that a few people have sent me emails or come in here and instead of thinking about the market or the economy to try to figure out where it is going try to come up with reasons why I might think this that are personal. My guess is that they are worried about their long positions and find comfort in trying to find a reason to dismiss the whole thread so they don't have to think about it.

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