I was lucky & early into the internet trading curve. It was not as easy to do it back then, let me tell you...things happen so fast now, it is easy to forget how few brokers even had an internet interface back then for trading, and the ones that did worked maybe 1/2 the time.
Not many make out of that 2% from what I hear. The hubris gets to them, then they make the big mistake, on margin of course. Then it's over.
There are places where you can open a trading account for 50k, and they will let you play with 500k.... This is why we have the kind of crazy price swings we see everyday. Borrowed cheap money....
I am now doing a lot less trading, like 80% less. Besides other day traders, you now compete with the trading desks at a lot of firms, and they will front run you.
Still doing the mt/lt position plays, as that is where the real money is, imo....big or small stocks.....listen to Rande, he is on the top of the wheel with this stuff....
Check out QQQ, the new naz 100 trust.
Here is a link to a Barron's story>>http://chicagotribune.com/business/businessnews/article/0,1051,ART-25975,00.html |
