To: t2 who wrote (25657 ) 7/7/1999 6:41:00 PM From: Sir Francis Drake Read Replies (1) | Respond to
t2K - sounds like you got a handle on the issues. Key is, daytrade w/ play money only - if only more people were as wise as you. I thank my lucky stars I never daytraded my "long-term" portfolio, and only worked with "crazy" money. The 100K is a good number to start with, you are bound to lose some in the first few months - this is *expected*. Actually, should you be *UNlucky* enough to start making $ right off the bat, remember, that is almost worse than starting off w/ a losing streak, because it will lead you into a false sense of confidence... you will have made money, but you won't realize HOW you made it, you'll only THINK you understand what happened. Much better to learn from painful mistakes - and so, keep the share number low, to minimize losses. As to the seminar, be careful too - it is easy to walk out and think you're da bomb, and "just lemme at it". There is no substitute for a practical day in/day out regimen of experience. A lot of it is counter-intuitive, and I found that the biggest mistakes I've made, is when I've "outsmarted" myself... it seems as if its almost better to be less "intellectual", and operate more on a combination of hunches and rules of thumb than trying to "figure it all out" - often what happens is random, and you'll drive yourself crazy trying to "figure out" what's behind every little wiggle. Slow and easy does it.
