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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?!
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To: Dave Gore who wrote (52)3/19/1999 4:06:00 PM
From: Dow Jones Reporter  Read Replies (1) of 611
 
Dave:

I stumbled across one of your early messages in this thread. Part of it read...
<<One of the things psychologists say is that day traders who get lucky in the beginning, perhaps because of the Internet frenzy, sometimes get cocky and feel invincible, and this is perhaps the worst thing that can happen. They may be destined for huge losses doing somewhat. I got cocky a few years back. I won big on my first options trade, but over the next 3 years lost $50K in options. I came to find out that 90% of all people LOSE with options, so I rarely do those anymore except for hedging against a long or short position of a common stock I own.>>when reality sets into the stock market, as it now appears to be

I was wondering what psychologists were you referring to?
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