Day Trading Memory Bank


Submitted January 2, 2004, 10:57 PM

During what years were you an active day trader?
During 1998 thru now.
How developed were your computer skills before you day traded? What software did you use to trade? Did day trading affect your use of computers for things other than personal finance?
I consider myself a computer expert. I have been using computers for 20 years.
What was your employment status before, and during the time you day traded?
I was employed as an industrial designer/ project engineer during 1998, up till now. I have recently lost my job due to corporate downsizing. I received a 3 month severance package and plan to trade full time. The job market still seems tight.
Did you day trade at work, at home, or in a trading office? How many hours a day did you trade?
I would put in orders the night before and hold for a day or sometimes a couple of weeks at first. Later when we got internet at work I would do a couple of trades per day at work. Trading 1-2 hours per day. Now I trade the whole session from home and close my positions every day.
Where did you access information for your day trading? Online or offline? From chat groups, message boards, websites, or other sources?
I use yahoo finance, motley fool, cnbc, fidelity, and clearstation. I use fidelity active trader software.
What has been the result of your day trading? Were you financially successful? How has trading affected your professional and personal life? What are your thoughts about your experience?
I have learned many hard lessons. When I first started I bought penny stocks and lost money on every trade. I don't buy them anymore. In 1999 I read a book on option trading and I started trading with 15,000 of savings. It was a great year. The portfolio ballooned to 750,000. My best day was 40,000. The dot com stocks were moving 20-30 dollars a day. I was using margin too the max. Then it all caved and I lost it all in 2000. I was an idiot. I never shorted, I just wanted my positions to go up. Now I am wiser. I have managed to build up a 40,000 portfolio from almost 0. I trade the high volume stocks either long or short. I get in make my profit and get the hell out. The faster the better. I cut my losses quick. I can make anywhere from 50 to 4,000 per day. My goal is to bring in 5,000 to 10,000 per week. I know its possible because I done it many times. One thing I have to say is that corporations suck. They use you and spit you out like a piece of old gum. I will control my own destiny. The capital markets are the only tool for financial freedom.
Name
Ed
In addition to saving your story to the archive, may we post it to the web? (yes/no)
yes
What is the highest level of education you have completed? (optional - will not be posted on the web)

4 years of college



Survey created and managed using the Survey Builder, one of the tools from the Roy Rosenzweig Center for History and New Media