To Mr. Thomas who wrote:
Date:Sat, 29 Aug 1998
I have enjoyed lurking on your thread from time to time and am
considering day trading full time. I'm a retired ------------------
worker in my late 50's. Have been in market without any great success for about 10 years. Now that I have retired thought I might try day trading. Just curious about your experience! You started your
thread in May announcing you were relying on day trading for most of your income/ Would appreciate anything you can share with me as to potential for success. I think I have a good understanding of the market and need for discipline if you are to be successful.
Also interested in a good level 2 service!
Thanks for any info/insight you can provide.
Mr. T.
After about one month of "day trading" I found it was too nerve racking for me. Didn't match my temperament. I then switched to position trading which I define as holding trades for more than one day. This kind of trading you can do with a job, checking things at night, entering in automatic sell orders etc. If you keep and eye on the market once a day you can really get a good feel on the general trend which, as I said in my very first post, is the most important.
After "goofing" around with different companies, jumping in and out etc. I noticed that companies like Cisco, Dell, Lucent gave one excellent returns without the headache. In fact Cisco has basically been an investor's no brainer dream for 5 years. So now I am taking some classes to become a PC Support consultant, and am currently all cash until the dust settles.
Some people like the thrill of day trading and some make incredible returns at it. Just wasn't for my temperament. I will continue to handle my own investments for sure. I have stopped playing around with volatile stocks and I base my positions in quality stocks on the market trend. If I want to place some "bets" here and there, I will try and keep my positions small.
As for Level II etc., see my next post.
Cheers, RS |
