Posted: 1/9/2002 4:18:54 PM EDT
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Well, how did you end up doing for the year? I picked up 11% in the 4th quarter, so that lifted me from the minus side to plus 6% for the year. Nothing fantastic, but I made a few $$ |
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Quoted: I am LT's antithesis. I trade options, sometimes holding for less than a day. I was doing great early in the year, up 320%. But I have given almost all of it back due to a 6-month losing streak (which hasn't broken yet [:(] ). So I ended up 74%. Hey now, OPTIONS. Now yer talking!!! [:D] I'm not against day trading, but rather don't see day trading as a form of investing. It is a form of nationally legalized gambling as far as I am concerned. Hell a good Vegas poker player can win millions at times, much like a day trader. He can also loose that in one sitting, much like a day trader. So just cause you are playing with stocks, does not mean you are an investor in my book. But hey it is fun [:)] Much like gambling in Vegas is. I do play with options. Have not done it in the past 2 yrs. But I don't plan on making bank on it. Purely for fun and test myself to see if I can predict the market. My first year of doing this I lost close to $15K. Just imagine how many firearms I coulda bought with that [:(] Made it back since then though. |
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I had a small windfall that happened about a week after Sept. 11... I was fortunate enough to put a couple grand into a mid cap growth fund at the market's lowest point. I bought at @ 18.20 a share... it's now come back to a near 52 week high at around 24.30 a share; an almost instant return of 30%. I feel kind of guilty about profiting from our tragedy, but it was something that I'd intended to do beforehand, and the timing just worked in my favor. |
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Quoted: Hey now, OPTIONS. Now yer talking!!! [:D] I'm not against day trading, but rather don't see day trading as a form of investing. It is a form of nationally legalized gambling as far as I am concerned. Hell a good Vegas poker player can win millions at times, much like a day trader. He can also loose that in one sitting, much like a day trader. So just cause you are playing with stocks, does not mean you are an investor in my book. But hey it is fun [:)] Much like gambling in Vegas is. It's not too much fun if you always lose. The way I'm doing, I'd have better odds in Vegas. Seriously, I am doing terribly. I used to be correct 40-60% of the time. You know what my winning trade record has been for the past 6 months? 7%!!! [:I] The only reason I'm not ruined is because I never stake more than 10% of my money on one trade, and never accept losses of more than 10%. Still, it's eating me away. I can't seem to spot opportunities like I used to. [BD] I do play with options. Have not done it in the past 2 yrs. But I don't plan on making bank on it. Purely for fun and test myself to see if I can predict the market. My first year of doing this I lost close to $15K. Just imagine how many firearms I coulda bought with that [:(] Made it back since then though. Good deal. I intended to make this my career, I dont really get any intrinsic value from trading though. It's not fun, or an adrenaline rush, or anything. I just figured if I'm right 50% of the time and just cut my losses before they get big, I should do ok. This theory has been sorely tested lately. |
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Quoted: Hey now, OPTIONS. Now yer talking!!! [:D] I'm not against day trading, but rather don't see day trading as a form of investing. It is a form of nationally legalized gambling as far as I am concerned. Maybe you misunderstood my post. I don't day trade at all. My investments are in my self directed 401K. Contributions are only mine (unmatched), because I have a pension plan at work. It's pretty liberal for a 401K. I may only make 8-10 trades year in it. It's not much, but I've managed to work it up to 100K. |