Little blast from the past.....
To:Don Green who
wrote (1543)
From: Jenna
Sunday, Dec 7, 1997 5:08 AM
View Replies (1) | Respond to of 8797
Don.. nice post. I've quit my job and now am a full-time trader but...for trading
there is only a present no future. You are only as good as what is in your bank
account today, for tomorrow you may be annihilated. About the courses you
mentioned: that's the only way to become really rich in this profession. It's the
brokers, the 'canons' that teach you Level II for $250 and how to be a daytrader
for $2,500, a SOES trader for $3,000 and Pristine...you know who.. who charges
$150 a month for 5 picks, 3 of which are usually worthless, or "Ground Floor
something or other.. that professes to get you into a new IPO just BEFORE it
makes its 400% leap (for a $495 a year fee), the Jeff Coopers of this world who
probably make more from their books than in daytrading.. or the software writers
with 'proven models' for 100% profit in equity options.. I've left my own 2 discount
brokers the equivalent of 'executive secretary' salaries in commissions and
quotes, news, etc. etc.
I've come to the conclusion that my strong point is stock picking. When the
market crashed for us in October, I had a very formidable portfolio of stock
options that went kaput. What does a relatively decent stock picker do in these
times? ...join the Murphy's, Navelliers' and Cabot's.. Well I for one am going to
charge for my picks. Of course it will be a very nominal fee, not unlike the fees
you so readily pay on Stocksmart, Briefing.com, etc. This way I can give people
something they want that I have, and get something for myself, for those times
when the Asian flu does its dirty work and/or whatever new catastrophe might be
lurking just around the corner.
Yes, now I align myself on the side of the people I've often criticized for
capitalizing on man's innate passion for wealth. They charge exorbitant fees
because of the laws of supply and demand.. There is a demand and people will
pay. So we'll see.. Maybe one day you'll see my picture on the corner of some
newsletter, website. Perhaps, I'll even be a guest host on CNBC's Squawk Box.
Whatever happens, I'll still trade but I'll have a taste of what it's like to be on the
other side of the trading desk.. |
