Intelligence And Trading
I have just been reading about intelligence and trading. This reminded me of when I got serious about day trading. I had been traveling around the country for about 6 months watching day traders make money.
When I started I thought there was a chance that day traders who make money were just a myth or that they couldn’t do it consistently. After seeing dozens of this guys making money day after day after day.
One day it just became real to me, I was watching this guy trade and he made $5000 the first hour of trading, the same as he had done everyday for the last two weeks.
Then something kind of snapped in my brain and all of a sudden I looked at him and said “you just made $5000.”
He glanced up from his screen for a second and said “yeah.”
Right then I knew I had to start doing this. I found someone who would train me for free (can’t beat that price) and signed up.
There were about 6 of us just starting out, I had been reading about day trading and talking to traders for a couple years by this time so I already knew all the terminology.
There was one guy who knew nothing about the stock market, he was asking the dumbest questions. I felt so superior – my reading and studying was really paying off.
I already knew about 90% of what they were telling us… To make a long story short about 6 months later I had lost about $30,000 because I had all the ideas and I was so sure I knew more than anyone else.
The guy who almost didn’t know what a stock was just cleared $750,000 in profits from day trading, and he still didn’t know a whole lot more than he did when he started.
The guy training him was one of the guys making $10,000 a day, I asked his trainer “what is the time frame of the chart on your screen?”
He looked at me and said “what is a time frame?”
I thought he was making fun of me, but he wasn’t. He really had no idea what the chart was on his screen. I found out later that he really didn’t know much about computers and someone else turned the computer on for him and set it up every morning.
That’s one advantage to trading in a day trading office, they have people that will do that for you.
When I started I thought there was a chance that day traders who make money were just a myth or that they couldn’t do it consistently. After seeing dozens of this guys making money day after day after day.
One day it just became real to me, I was watching this guy trade and he made $5000 the first hour of trading, the same as he had done everyday for the last two weeks.
Then something kind of snapped in my brain and all of a sudden I looked at him and said “you just made $5000.”
He glanced up from his screen for a second and said “yeah.”
Right then I knew I had to start doing this. I found someone who would train me for free (can’t beat that price) and signed up.
There were about 6 of us just starting out, I had been reading about day trading and talking to traders for a couple years by this time so I already knew all the terminology.
There was one guy who knew nothing about the stock market, he was asking the dumbest questions. I felt so superior – my reading and studying was really paying off.
I already knew about 90% of what they were telling us… To make a long story short about 6 months later I had lost about $30,000 because I had all the ideas and I was so sure I knew more than anyone else.
The guy who almost didn’t know what a stock was just cleared $750,000 in profits from day trading, and he still didn’t know a whole lot more than he did when he started.
The guy training him was one of the guys making $10,000 a day, I asked his trainer “what is the time frame of the chart on your screen?”
He looked at me and said “what is a time frame?”
I thought he was making fun of me, but he wasn’t. He really had no idea what the chart was on his screen. I found out later that he really didn’t know much about computers and someone else turned the computer on for him and set it up every morning.
That’s one advantage to trading in a day trading office, they have people that will do that for you.
