Are you considering quitting your dayjob to daytrade?! Message Board

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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?!

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To: Tae Spam Kim who wrote (525)	2/5/1999 10:01:00 PM
From: kaz	Read Replies (1) of 611

Great advice. If only more people would follow it. I read on one of the internet brokers' threads some guy threatening to sue because he shorted a hot internet stock at 27 (he said that even though the stock had recently been as high as 48 he was "comfortable" with it) and, when he went to cover a few days later when the stock was at 20, he found that the broker had covered it days before. Problem was that the stock had gone up to 50 or so (guy wasn't bothered because he "knew" it was going down) in the meantime. So, while he was ultimately correct in his assessment, what kind of a fool would allow those kinds of losses! I'm not sure why he wasn't notified, or given a chance to post more margin but I suspect that the stock moved so fast that the alarm went off at his broker and they got him out because he was too stupid to do it himself. One wonders if he, and others like him, have EVER read any book on good trading habits. Paul Kaz

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