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Day trading is good work if you can get it
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geojam
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23-Jan-2007 22:44
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no sex then pent up. have to visit mrs palmer and her 5 daughters |
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iPunter
Supreme |
23-Jan-2007 22:37
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What's wrong with "no sex"? There are other pleasures, too. |
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geojam
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23-Jan-2007 22:23
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normally day trader involve in few mkts like sgx,dow ,ftse etc... so end up health problem and no sex. Spent more money to see doctor |
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iPunter
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23-Jan-2007 21:46
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And at the end of the day (of their trading career), most traders usually end up breaking even at best. |
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iPunter
Supreme |
23-Jan-2007 21:45
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That's true... Trading ( I call it punting) is too stressful, time-consuming and above all, very unsatisfying. Best is just buy a handful of good cheap stocks and stash them away to grow. Definitely more satisfying... :) |
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chipchip66
Master |
23-Jan-2007 21:12
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Churning is bad for health, imagine you gotta squeeze something out of your trades when the market is not moving!!! How man??? Of course if one is disciplined and practise all kind of trading strategies like cut-loss, shorting, buy at day low etc...., THEN maybe very okay to be a day trader! |
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singaporegal
Supreme |
23-Jan-2007 21:07
Yells: "Female TA nut" |
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There was an article someone posted here once that said that the effort and gains spent in day trading wasn't worth it. |
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geojam
Member |
23-Jan-2007 21:02
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Can practise now while working from office. So when retire will be good day trader. |
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Livermore
Master |
23-Jan-2007 20:45
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I might become day trader when I retire:) |
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lg_6273
Elite |
23-Jan-2007 20:40
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Day trading is good work if you can get it By WALTER HAMILTON, Published January 23, 2007 AS STOCKS soared in the 1990s, countless Wall Street wannabes became 'day traders', quitting their jobs and making their living by trading stocks at a furious pace. When the boom ended, so did the day trading craze. But rising stock prices and new highs in major stock indexes have tickled investor interest, and aggressive trading by individuals is on its way back. 'There's no other way to live,' said Robert Earl, a 52-year-old from Long Beach, California who began trading full time in 2004. 'My friends think I gamble, but this is not gambling if you do your homework.' Although trading activity does not resemble the frenzy of the late-1990s, electronic stock brokers such as Charles Schwab Corp and E-Trade Financial point to a marked uptick in business. Schwab, for example, averaged 242,300 trades a day in the first nine months of 2006. That was up 29 per cent from the same period a year earlier, and a click above its 242,000 peak in 2000. 'There is certainly more activity, to the point where there is now more online investing going on than there was at the market peak,' said Bill Doyle, an analyst at Forrester Research Inc in Cambridge, Massachusetts. Still, the trading scene is much different now than in the 1990s. Back then, fewer people had high-speed Internet connections, leading to the establishment of day trading shops stocked with rows of computer stations. Caffeine-fuelled traders 'scalped' a handful of stocks all day long, jumping in and out repeatedly as stocks bounced like ping-pong balls. The goal was to notch dozens of small gains. Stocks are much less volatile today, forcing traders to hold for days or weeks to net sizable gains. And the wide availability of speedy online hookups has rendered the day-trading centres obsolete. Indeed, it is easier than ever for investors to trade from home, not just those who hope to make a living at it. Greg Beyer, for example, has a full-time job as an information technology specialist, but the 39-year-old from McLean, Virgina, says he has stepped up his trading as the market has risen in the past few years. Motivating factor 'It certainly is a motivating factor in investing more,' said Mr Beyer, who trades five to 10 times a month. Among affluent investors with US$1 million or more in assets, 18 per cent traded stocks online in 2005, up from 13 per cent in 1999, according to Forrester. 'More and more people are coming in and feeling comfortable trading online,' said Fuad Ahmed, chief executive of Success Trade Securities, an online brokerage company based in Washington, DC. Even so, several experts said they were surprised that trading levels are not higher, given the market's lengthy rise. The major indexes posted double-digit gains in 2006. On Jan 12, the Standard & Poor's 500 index of blue-chip stocks closed at its highest level since November 2000. 'Usually you have a bull market and it attracts investors,' said David Kalt, chief executive of optionsXpress Holdings Inc, a Chicago-based online broker. 'This bull market is a little more incremental.' At E-Trade, for example, annual trades per account rose to about nine last year, from five in 2002. But that was off from about 12 in 2000. Some investors are holding back because of bad memories from the last bear market and uncertainty about how much longer today's bull market will run. And many people may have shifted their money into real estate earlier this decade, as stocks tanked and home prices rose. 'I don't think the speculative money is coming back into the online investor marketplace,' said Don Montanaro, chief executive of TradeKing, a Boca Raton, Florida-based online broker. 'It's tied up in the condo market in Miami.' Nevertheless, interest in trading is heating up. In the last year or so, several brokerages and websites have popped up catering to online stock traders, including TradeKing, Just2Trade.com and Zecco.com. Don Bright is capitalising on the trend. His Bright Trading in Las Vegas teaches trading skills, and demand is growing. About 50 people took his course last October, he said, or double the number in 2003. He said 34 people are enrolled in a three-day, US$1,000 course that started on Monday. Of course, some active traders never went away despite the market's slump in 2000-02. Fu Ziyue, 32, of Manhattan, got hooked on stocks in 1997 and dropped out of podiatry school to day trade full time. He hung on through the bear market, but altered his trading style in 2003 when 'scalping' became less profitable. He still does about 30 per cent of his trades intraday, but is now more of a 'swing' trader, holding shares for days or weeks. Last month, for example, Mr Fu almost doubled his money in Internet search engine Mamma.com, which more than tripled in price in one eight-day period, he said. But he has seen a lot of his friends fail over the years, and predicts that many more will. 'I see a lot more newcomers than in 2005,' he said. 'Most of them wash out in the first six months. Very few of them stay.' Mr Earl is determined to be one of those who stay. He worked as a district manager at a restaurant company for seven years and owned a seafood restaurant for eight years, but said he has found his calling as a full-time trader. Since he began day trading in 2004, he has been making enough to support himself. 'I just came in off the golf course,' he said with a laugh. - LAT |
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