Former Day Trader Admits Defeat...
"...I blew a 45 call option on ADBE by entering the way of the blustering daytrader and could have made a few grand instead of losing $750. I acted like the quick acting daytrader instead of the cautious, meticulous swing trader and suffered the consequences.
We are a strong proponent of this company, but not looking for the instant gratification of the daytrader, thinking he can 'smash and grab' his way into it after the news. IMCO had a lovely move today and for SUBSCRIBERS and [edited to protect the innocent], those that understand the INTRINSIC worth of IMCO which we did tout for weeks, and not those that are looking for an easy daytrade got the benefit of "anticipatory upswing" and the buy after the hullaballo died down. We watch our stocks for weeks and "understand" their historical pricing patterns, scalping doesn't work in the long run, it never has, it never will. Scalpers burn out in frustration, they have 1 good trade and 4 bad ones, its only the swing trade that has the most profit potential(even the swing short, as surely we swing shorted much of this week)..."
Comments:
Well, you can't "day" trade a stock that normally trades 100,000 shares a day!
Besides, how does one "swing" trade without "swing" chart? ottographs.com
Day or swing, it is still trading...excuses, excuses... |
