I suspect that those who have full time jobs probably do a bit of stock trading on the side or at least manage your 401K after hours. At times you probably wish you can watch the market full time. You think you’d do a lot better. Getting out of the market earlier when the market sells off, and buy that dip at the 200 day moving average as it hits, etc. Well, I am giving myself such opportunity for about a year or so.
Over the years as a “closet” trader, my trading account net worth has been oscillating between $135K and $145K – think of a bell curve. It’s been really frustrating that every time I make advances, I’d inevitably give it all back. This is a terrible track record in general (at least over certain time spans: between Mar 2009 and Dec 2010 the S&P is up over 88% but between Mar 2000 and Dec 2010 the S&P is down over 19%) from an investor’s perspective; on the other hand, it may not be so bad from a trader-in-training’s perspective as 80% of day-traders fail according to the book “Day Trading for Dummies.” So I’m really somewhere in the middle of the spectrum, depending on how one looks at it.
Now that I have all day to watch the market for a few weeks now, I’m finding I’m actually doing worse because I’m subjecting myself to all of my emotional weaknesses full time!
The purpose of this blog is mainly a trading journal for myself to document any lessons I’ve learned and mistakes I’ve made. But most of all, I use this blog as an outlet for all of my frustrations. Short of seeking a shrink, I need to whine about all the countless bad lucks and torments by the market in order to stay sane. Eventually, this blog will also serve as a testament of how a day-trader ends up.
This site does not offer any trading or investment advice. Actually, it may prove financially detrimental to follow my trades, if I provide any. Do your own due diligence, apply your own God-given wisdom, and as a friend would put it, “pull your own trigger”.