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Day Trading: Great Fun - If You Are Ahead…

By: Abrahem Mittell

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Imagine with me the dream, you have just woken up at 8:00 to the whistling of song birds in the trees outside your South Carolina beach home and you are beginning to smell the gourmet coffee that brews when you wake up. You look outside to see another beautiful day ahead and instead of being depressed because you will have to waste it inside an office with fluorescent lights blaring down on you inside your cubicle you are welcoming it with the enthusiasm of a little child on the first day of summer break. You see you are a day trading guru, who from the privacy of your own home and with the convenience of a high speed internet hook up, and are therefore free to do as you please.

This is true because you actually enjoy the thrill of the market and the challenge of fast paced decisions and strategies that go with the life of trading stocks on a daily basis. You are in this not for the retirement that is slowly and steadily becoming enough to support you in your “golden years,” you are in this for your income. In order to survive you have to buy low and sell high enough today to turn a profit and get a paycheck. This is the challenge, the fun of day trading.

So you grab a cup of coffee and head over to your desk and computer to get a brief look at the events on the market this morning. You see that things are well according to the buy plan that you made the night before and that you don’t have to make any changes. You then grab the paper on the front walk (the Wall Street Journal of course) and amble out onto your back deck sipping on the dark Sumatra. This is just the morning of your typical work day of day trading and you are loving every minute of it.

Later that day you go and play a round of golf with your day trading buddies and discuss the events of the morning on the market. You get together with these guys, kind of like a focus group, to bounce strategies off one another and to give and receive advice. You return home for the afternoon and get a bite to eat and a shower before settling down in front of your computer for research and planning for the next days buying and selling. But first you have to make the sales from the buys you made yesterday AM and you are pleased to see that you have returned a little bit higher than average profit – $1500.

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Abrahem Mittell has been dabbling in day trading since it was first available some time in the early 90’s. He frequently writes about the lessons he has learned from 20 years of experience. To learn more please visit www.begindaytrading.info


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