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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: gaj who wrote (18083)	1/12/2010 10:59:07 AM
From: Eric P	Respond to of 18137

random thoughts to keep things alive. there seemed to be more volatility in 1999/2000 than there was last year. i'm not expecting the 99/00 environment to happen again more than once in my trading lifetime, like in another 20 years. Back then, volatility was an absolute requirement to be successful in daytrading. The commissions were so steep that you had to make a large per share profit just to break even. It was definitely a one-way market in those days, prior to the bursting of the bubble. Almost everyone was a 'successful' daytrader, until the market turned and most blew out their accounts when their losing trades failed to come back for them. I think it's safe to say that anyone that's been trading since 1998 have seen virtually all possible market conditions: Extreme high volatility as well as extreme low volatility. Runaway bull markets, devastating bear markets and deadly quiet markets. I feel lucky to have survived (or even thrived) to this point, although I suspect I will also be gone in another 5-10 years. Markets are changing faster than ever, and the competition we face as traders is ever improving. It's not easy to maintain your edge as a trader for many years without blowing out, burning out, or just losing the desire/passion to continue. -Eric