In this month's copy of Tradersworld, this is what I got out of it. He holds 3 days to 2 weeks. His net worth is like 46 million. It seems all he does is look for bullish chart patterns, and makes money. Mr. Zanger never said anything about trading with indicators other than volume. He made 22 million alone last year. It cant be that easy... Is day trading (scalping / Momentum trading) a suckers game in the long run? - nathan
zangers the greatest stock day trader of all time. he did have alot of luck in the late 90's catching the qcom's and amzn's for 20-40 mil. he has one quality few trader have. he'll take a huge 10-20 mil position and hold it
dan's website www.chartpattern.com there are some articles on there. the point is though, he was not a "Day trader". So are there any famous retail day traders? - nathan
Seems pretty simple to me: Play with pennies - win/lose pennies. Play with millions - win/lose millions. check out Paul Tudor's opinion of day trading..not pretty.
Zanger started with pennies (OK, maybe hundreds or a few thousand). When he had about $11,000 (if I remember right) he ran it up to some astronimical amount. He then lost a good chunk of it, but remained a millionaire and apparently is trading with more consistency and better money management now. The thing is, he didn't start with OPM, on Wall Street or on an exchange floor. He started out as a ski bum and swimming pool repairman who became fascinated with stocks.
yes but go back and read his articles from the 90's. he's enver traded in and out daily. he caught qcom for $300 or more and killed stocks like amzn. he went all in at the best time in history and won
I followed the link to hammerstone group on Zanger's website and found this: http://www.thehammerstone.com/rallydance.html wtf?
The guy was completely fearless and supremely confident when it was time to pull the trigger. Man is a legend.
ACTIVE TRADER interviewed him a month or two ago. Zanger also shorts big caps when earnings momentum wanes. He blew up a few times before he made it big, and yet kept coming back. He deserves every bit of success he enjoys now. He truly is an inspiration.