The market could crash today.

[SUPERCOACH]

You a day trader WV?

[BAMAWV]

You a day trader WV?

I have 1 Scwab account that I keep a few thousand in for gambling, and make no mistake, that is what it is. This is just a little hobby or game and in no way reflects my long term investment strategy, goals, and portfolio profile. Just for fun. "Day Traders" make a living at it, or try to make a living at it.

A lot of day trading in the commodities market.   

[SUPERCOACH]

I made a living doing it for about 6 months.  I had just sold a company I started and was taking some time off before I looked for my next job.  I got bored after a little while, so I started with an initial investment of 2K just for fun.  Once I built it up to about 5K I took out my initial investment.  At that point I could lose it all and walk away clean.

I turned that 2K into about 60K at the peak.  I made 10K on my best day.  I lost 20K on my worst day, when my stock was suddenly delisted because of shenanigans going on with the board of directors of the company.  I ended up with about a 40K profit by the time I got out at the start of the Clinton recession.  It was an interesting 6 months to say the least.  My wife would come home and cringe when she came into my office to find out how I did that day.  I think she freaked out more the day I made 10K than the days I lost money.

Gambling is a perfect description of it.

[pmull]

The market has been open for 30 minutes and it is up +111 so far. Hopefully we can gain some of yesterday's loses back today.

[ricky023]

Awwww,, don't you think the market will go back up and we will move on to the next day? I almost see the Govt. dropping S&P from our boards. Our Govt. still controls how everybody else in the world does. Hey we do they do, if we don't they don't what is the worry somebody is going to find a solution, lol. RTR!

[pmull]

The market is losing ground after being up all morning. It is only up +28 for the day. It was +240 before lunch.

[BAMAWV]

I made a living doing it for about 6 months.  I had just sold a company I started and was taking some time off before I looked for my next job.  I got bored after a little while, so I started with an initial investment of 2K just for fun.  Once I built it up to about 5K I took out my initial investment.  At that point I could lose it all and walk away clean.

I turned that 2K into about 60K at the peak.  I made 10K on my best day.  I lost 20K on my worst day, when my stock was suddenly delisted because of shenanigans going on with the board of directors of the company.  I ended up with about a 40K profit by the time I got out at the start of the Clinton recession.  It was an interesting 6 months to say the least.  My wife would come home and cringe when she came into my office to find out how I did that day.  I think she freaked out more the day I made 10K than the days I lost money.

Gambling is a perfect description of it.

I am sorry for talking to you like a little kid,--I had no idea you knew trading. I did the exact same-- played with a couple thou, then took out MY money when I got ahead. I don't have the time to sit and stare at it all day long. I played with setting alarms but never worked on it hard enough. You have to watch it close to get the turns tight. RTR for SC

[pmull]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

[SUPERCOACH]

I made a living doing it for about 6 months.  I had just sold a company I started and was taking some time off before I looked for my next job.  I got bored after a little while, so I started with an initial investment of 2K just for fun.  Once I built it up to about 5K I took out my initial investment.  At that point I could lose it all and walk away clean.

I turned that 2K into about 60K at the peak.  I made 10K on my best day.  I lost 20K on my worst day, when my stock was suddenly delisted because of shenanigans going on with the board of directors of the company.  I ended up with about a 40K profit by the time I got out at the start of the Clinton recession.  It was an interesting 6 months to say the least.  My wife would come home and cringe when she came into my office to find out how I did that day.  I think she freaked out more the day I made 10K than the days I lost money.

Gambling is a perfect description of it.

I am sorry for talking to you like a little kid,--I had no idea you knew trading. I did the exact same-- played with a couple thou, then took out MY money when I got ahead. I don't have the time to sit and stare at it all day long. I played with setting alarms but never worked on it hard enough. You have to watch it close to get the turns tight. RTR for SC

Apology not necessary.  I'm certainly not an expert.

You are exactly right about having to sit in front of your computer and watch it all day.  On the day I lost the 20K, I would have lost it all if I hadn't been watching it closely.  Apparently some people got word that the stock was going to be delisted after the market closed.  These people, whoever they were, started selling like crazy.  The bottom fell out in a hurry, but I had no idea why.  I had a limit sell order that I was watching when I saw the price start to drop.  I changed my order a couple of times to lower the asking price, but by the time I could get the change submitted, the price had already fallen below my new asking price.  I had no idea what was going on, but after a couple of minutes I changed it to a market sell and just got what I could.  Fortunately it went through.  A few minutes after that, the exchange froze the stock because the price was dropping so quickly.  Then at the end of the day they announced that it was going to be delisted.

The next morning it was on the OTC for fractions of a penny per share.  The guys that went out to lunch that day and weren't sitting there when it happened lost everything they had invested.  Also, the crazy guys who put in a low-ball bid order and went to play golf or something got a really big surprise when they got home to find that not only did their bid order go through, the price dropped well below their offer and was now basically worthless.  I never understood those guys with the low ball bids.  The only way the order is going to go through is if something really bad happens to the stock, in which case you have no idea where it is going to bottom out at.

I felt cheated after that.  Whoever those people were that knew before everyone else had a huge advantage.  Probably insiders with the company or something.  Any way, if the news had been kept quite until after the end of the day, I would have made money that day because I always cashed out around 3:30.

You need ice water running through your veins in order to do that full time as your only source of income.  It was a fun time though.  I had other money coming in, so that made it a little less stressful.  But not much.

[SUPERCOACH]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

I guess those guys that covered their short sells at 3:30 yesterday knew what they were doing after all.  I always cashed out too because I could sleep a lot easier that night not having to worry about what might happen to the company before the market opened the next day.

[BAMAWV]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

I guess those guys that covered their short sells at 3:30 yesterday knew what they were doing after all.  I always cashed out too because I could sleep a lot easier that night not having to worry about what might happen to the company before the market opened the next day.

I'd always start watching about 7am each morning. Day trading for fun is great, but you'll find most guys have a wife with a good job or as you said, a second income as backup.

Not day trading but my big play was a biotech stock (DNDN). I spent a couple years, away from home drilling, just to make more $$ for DNDN stock. I did not get a second (mort) on the house, but I know a couple guys that did. I had a MSU MBA drilling counterpart buddy that put me on it.  They had/have a prostate cancer drug (Provenge) that showed clinical testing sucess in treatment of LATE stage prostate cancer. I know more about the FDA and drug approval regulations/procedures than many experts. I starting buying it at $2.00. (my first 10,000). It peaked in May around $50-55. But look at the last 5yrs. --what a ride!

[SUPERCOACH]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

I guess those guys that covered their short sells at 3:30 yesterday knew what they were doing after all.  I always cashed out too because I could sleep a lot easier that night not having to worry about what might happen to the company before the market opened the next day.

I'd always start watching about 7am each morning. Day trading for fun is great, but you'll find most guys have a wife with a good job or as you said, a second income as backup.

Not day trading but my big play was a biotech stock (DNDN). I spent a couple years, away from home drilling, just to make more $$ for DNDN stock. I did not get a second (mort) on the house, but I know a couple guys that did. I had a MSU MBA drilling counterpart buddy that put me on it.  They had/have a prostate cancer drug (Provenge) that showed clinical testing sucess in treatment of LATE stage prostate cancer. I know more about the FDA and drug approval regulations/procedures than many experts. I starting buying it at $2.00. (my first 10,000). It peaked in May around $50-55. But look at the last 5yrs. --what a ride!

Nice!

[BAMAWV]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

I guess those guys that covered their short sells at 3:30 yesterday knew what they were doing after all.  I always cashed out too because I could sleep a lot easier that night not having to worry about what might happen to the company before the market opened the next day.

I'd always start watching about 7am each morning. Day trading for fun is great, but you'll find most guys have a wife with a good job or as you said, a second income as backup.

Not day trading but my big play was a biotech stock (DNDN). I spent a couple years, away from home drilling, just to make more $$ for DNDN stock. I did not get a second (mort) on the house, but I know a couple guys that did. I had a MSU MBA drilling counterpart buddy that put me on it.  They had/have a prostate cancer drug (Provenge) that showed clinical testing sucess in treatment of LATE stage prostate cancer. I know more about the FDA and drug approval regulations/procedures than many experts. I starting buying it at $2.00. (my first 10,000). It peaked in May around $50-55. But look at the last 5yrs. --what a ride!

Nice!

I sold a couple times. Then bought again when the price established itself. When a news flash about Dendreon meeting with FDA approval committee would hit the internet the price would jump from $5 to $28 and by close be settled back at around $7. So if you were not paying attention... This happened once every 9 months or so, but you had to be watching.

[SUPERCOACH]

The market rebounded +430 today. It made back about 2/3 of yesterday's loses.

I guess those guys that covered their short sells at 3:30 yesterday knew what they were doing after all.  I always cashed out too because I could sleep a lot easier that night not having to worry about what might happen to the company before the market opened the next day.

I'd always start watching about 7am each morning. Day trading for fun is great, but you'll find most guys have a wife with a good job or as you said, a second income as backup.

Not day trading but my big play was a biotech stock (DNDN). I spent a couple years, away from home drilling, just to make more $$ for DNDN stock. I did not get a second (mort) on the house, but I know a couple guys that did. I had a MSU MBA drilling counterpart buddy that put me on it.  They had/have a prostate cancer drug (Provenge) that showed clinical testing sucess in treatment of LATE stage prostate cancer. I know more about the FDA and drug approval regulations/procedures than many experts. I starting buying it at $2.00. (my first 10,000). It peaked in May around $50-55. But look at the last 5yrs. --what a ride!

Nice!

I sold a couple times. Then bought again when the price established itself. When a news flash about Dendreon meeting with FDA approval committee would hit the internet the price would jump from $5 to $28 and by close be settled back at around $7. So if you were not paying attention... This happened once every 9 months or so, but you had to be watching.

Sweet!

[pmull]

It looks like we are in for another wild day in the stock market. It is already down -324.

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