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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (25)	1/17/1999 10:52:00 AM
From: xcr600	Read Replies (2) \| Respond to of 611

Good article from Forbes, but LBOR didn't go down to short sellers. The company did have questionable accounting practices. Also, as a long I would have been especially leery of a co that puts out a continuous stream of press releases about record revenues, this week, last week, last Thursday, etc..etc.. Red flag. Sounds more like hype than anything to me. x

To: jttmab who wrote (25)	1/17/1999 10:56:00 AM
From: advinfo	Read Replies (3) \| Respond to of 611

Irrational exuberance? How many wanted to quit their day jobs during September, 1998?

To: jttmab who wrote (25)	1/17/1999 12:31:00 PM
From: Mark[ox5]	Read Replies (3) \| Respond to of 611

Hi everyone, interesting thread! Being a similar age to SpongeBrain I can say I also have been tempted from time to time to do what he has done. However, I think James made a valid point about your personality has to fit the mold of being able to sit in front of a computer all day . He said "Not diminishing that point in any way, also consider whether you can sit in front of a couple of screens all day long looking at streaming quotes, news feeds, volume indicators day in day out for years. It might be exhilirating or it could become drudgery. Your own personality is important." I think it is very valid.. the few days off I have had when the market is open, I do trade (i.e. Thanksgiving Eve, Christmas Eve, etc) and while exciting, by 11:00 am there is usually a big lull in the market... and that seems to last until around 2:30 pm... most of the action seems to be in the 1st hour and last 30 minutes... unless your trying to scalp 1/4 point here and there, which is a differnet sort of trading. While it is exciting to make money, I saw for myself I was getting fatigued by 2 or 3 pm... maybe that is because I don't do it daily and like any new job it takes time to get used to it. I also missed just "talking" to someone, something I do get at the office. Second, right now we are in a period of time with the internet stocks that is unprecedented... when $200 stocks go up 30% a day, for 4 days straight (such as the 1st week of January) that is VERY unusual. Also, I noticed back in September and August the volume of posts on the SI boards probably dropped over 50%... so a lot has to do with market conditions... if your a full time trader what do you do when the market goes into an extended correction? You have to set aside a surplus to live on I guess. As for SpongeBrain himself I would say to you, you have an enviable position as I have friends in your field who make 2x what I make, and since your in NYC you probably make more than them with cost of living adjustments. With my job, I could take it or leave it... its nothing great but it pays the bills while I build capital to trade... with your job, it would make it a much harder position because that is a field where the demand is so high, and its a lot of money to leave on the table. Last, I always wondered about things such as insurance... where do people go for health, dental, etc if they dont have a job that covers it. Also what do you do for a retirement account? $2000 in an IRA just doesnt cut it! Mark