Discuss: "Remember the day traders? It's hard to forget the late-'90s stories of lawyers, doctors, accountants, and pizza delivery guys quitting their day jobs to trade stocks in the comfort of their living rooms. No boss, no deadlines, heck, no pants if you didn't feel like wearing 'em. It was the new American dream. Like many, I assumed that the day traders disappeared when the Internet bubble burst, like Webvan, pets.com, and Ricky Martin. But apparently day trading is back -- and it's dumber than ever. ..... " http://www.fool.com/investing/general/2010/05/11/day-traders-dumber-than-ever.aspx I dont agree with this article BTW !
Hilarious - bash day traders, emphasize a buy and hold strategy, and then proceed to advertise your stock picking service. Disgusting.
He probably got the idea from Blodget's article in March. Another example of "Those who can, do. Those who can't, bash those who can."
Assuming an average of 29 trades per day at $10 a pop, the typical day trader would have to make $72,500 per year just to break even!
WTF... ... Assuming an average of 29 trades per day at $10 a pop, the typical day trader would have to make $72,500 per year just to break even! Haven't they heard of pay per share?????? ...If you're not among that 1% of incredibly lucky traders, don't worry. Your odds of stock market success are actually quite good, as long as you're willing to measure success in terms of years, and not hours. Yeah, right. Tell it to people who bought in 1965-1982 or 2000-2010. The ignorance is amazing.
Assuming an average of 29 trades per day at $1 a pop, the typical day trader would have to make $7250 per year just to break even!
I love it when guys make a fortune without any significant study on the subject. Fact is: The greatest return for risk time is 20 years. The worst is 10 years, and the SECOND best reward to risk ratio is 8 Minutes!! There's virtually no probability study done in Random Walk Down Wall Street. Just a bunch of cherry picked data to get the retailer sucked in.