If this is true, you were very successful in business but not really a very good trader....should stick with your strengths and start up another business and just ditch trading at this point?
who said I was a crappy trader? once I graduated from business to investing in real estate and stocks, my whole net only went up, stayed up in 2008. A block of cash needs to be managed, and I'm managing it. Its just getting started.. and I have lots of capital to back it. ~8 years in the investing business now since 2003 , I am quite sure I'll out last, out make everybody on this board
past 8 years was amateur fights with little money, building up the experience, setting up the connections, setting up the structure, learning how to manage riskduring volatile times. now its heading into professional fights with large prize money, with enough experience to battle w/ no fear.
I changed my language, but not in time for you to respond. I retract "crappy trader". My point is, if you were such an amazing business entrepreneur, why not go that route again? Why spent 8 years not going anywhere (at least trading wise, I understand that lessons were learned and mkts better understood).
Its very simple.. I was not a great business guy, I just rode several **GROWTH MARKETS** with multiple investments in 5-6 businesses, one would succeed during that timeperiod, 5 would FAIL and get cut off with a tight stop. (basically how I trade), Any persistant person with average IQ in a growth market can make money. Throw me into a stabilized market again, I will make $0 to nothing. The key to investment and money management or business, is the ability to shift money into growth markets FAST. growth moarket = dumb money. ie. ISRG , robotic surgery, the biggest monopoly robotic surgery on the market, if you wanted to start something similar, you couldn't because of FDA approvals. I could , because I'm an investor, or know how to correctly time my investments in it. ============= business people comes and expires with each industry, but investors just flows with each new growth market. <b>I can't compete with other businessmen </b> , I just invest and let them do the work, so I better be a good investor. I'm willing to spend 8 years to become that, I have arrived.
It sounds like what you are saying is you only had success or great success because you happen to be in the right place at the right time and put some skin in the game. With this is mind, what makes you think you'll have success in one of the most competitive endeavors one can undertake? Daytrading isn't a growth business anymore, this ain't 98-00 where anyone with average intelligence could make a fortune. You say you are investing but you are really day/swing trading with a very tight stop. You aren't trading fundamentals, you are trading technicals.
I already told you, I look for one super hot company, or maybe 4, per year and invest in it. Basically one lottery ticket. Heads, I get 100% tails, I lose 1% 2011's best company = ISRG (robotic surgery, healthcare) 2010's best company = ARMH (smartphones) ======== in between i run a lot of test trade theories , like takeover arbitages, new price action theories , value play theories, mostly to improve my amateur ranking experience. Also makes me look like an idiot on this message board, but I do not mind.