Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: VALUESPEC who wrote (7042)	10/28/1998 9:58:00 AM
From: Michael Turner	Read Replies (1) \| Respond to of 7396

Hello Valuespec, Great note. Trading has a high burnout rate. Some people burn out because they lose all of their money. For others, success is a burnout in itself. I traded in New York for years before taking a break for the past year. I just got burned out. I couldn't watch the tape any more, and I wasn't enjoying the "game" as much. I am back now, and enjoying the fluctuations in the market more than ever. My "childlike" excitement for the markets has returned. As for losing money even when you know how not to.... don't be discouraged. Everyone does it. It's just part of the challenge of becoming that 'ever-better' trader. So take a break if that's what you need. Read some books, do some research...have a vacation... ...and have some fun! Michael Turner Author DayTrading into the Millennium tradersresource.com

To: VALUESPEC who wrote (7042)	11/4/1998 8:02:00 PM
From: Paul A	Read Replies (1) \| Respond to of 7396

I doubt our beloved lzrd king has gone bankrupt.. I believe he now 'hangs' on AOL where they have some chat setup or something.. I miss those folks! really interesting posts you folks have regarding trading.. I think alot of us got our asses whipped in the last few months, myself included.. Its funny because I started trading after a full service broker took 50% of my savings.. I than made the second biggest mistake and fell into the BB stock trap, and lost a ton on a rip off-scam called GIFS.. The following 6 months I enjoyed the bull run like the rest of the herd and was up almost 40% for the year if not more.. than came the correction, where I had the equipment, had the smarts, but learned once again why traders dont hold over night, especially durring volatile times.. It became such an emotion where if I took a $3000 loss on a gap down, I HAD to buy again and hold for the next morning because my luck had to change.. and of course, poof - another $3000 loss.. slow and easy.. Funny, but how true is that 'learn how NOT to lose money' statement? God- nothing has stuck in my mind more than that sentence.. welp.. nice to see some of you floating around here.. I found out that trading is not for everyone, in fact its not for most people. Im in love with it.. I am now taking a lot of time to learn how to play with my emotions.. if I have a great day? I call it a bit of skill, and a lot of luck.. if I have a bad day? I turn the computer off and wait all week if need be for the perfect gap down or other obvious trade. My family jokes about the stock market and they refer to me as their 'rich' child.. what they DONT know is that ill probably be stuck in this crappy New Jersey apartment for another 5 years as I struggle to gain wisdom each day, and could probably make a better living if I spent one year at county college and learned some sort of trade.. I dont expect to make any REAL money off trading for another 2-3 years as I start building some long positions along the way, divs., and ALOT of waiting for the perfect 5 minute trade... ... I guess its obvious that if I was in this for the money, id be long gone by now.. this is a passion, and a desire to learn what at first seems so damn easy and turns out to be one of the most difficult careers one could choose.. thats why us screw-balls like it so much! on an intersting note: I have been on s/i for a while now and I have noticed that the very few folks who I still recognize that started at the same time I did, got burnt, stuck with it, got burnt again, stuck with it, are now making some SERIOUS money. I wont mention any names since alot of them have changed handles, names, and such since some of those mistakes in retrospect were pretty 'sad' but it just goes to show what it takes to get there..