Submitted February 26, 2003, 6:55 PM
During what years were you an active day trader?
I have been active since 1997
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How developed were your computer skills before you day traded? What software did you use to trade? Did day trading affect your use of computers for things other than personal finance?
Before I started trading I could barely turn a computer on. Now I can at least turn it on to get my software (Real Tick 3) running.
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What was your employment status before, and during the time you day traded?
I started day trading while I was in college. It went well for for me so I dropped out. In college I had a number of odd jobs. I worked as a sprinkler fitter, as a janitor, at a gas station as a clerk.
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Did you day trade at work, at home, or in a trading office? How many hours a day did you trade?
I have always traded from home, though I have conducted workshops in offices where there are other traders. I have always found the office enviornment "noisey" and it really encourages you to trade too much.
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Where did you access information for your day trading? Online or offline? From chat groups, message boards, websites, or other sources?
Most of what any successful day trader will learn comes from dedicated study of their own trading. You will become successful by maximizing your own strengths and minimizing your weakness. I think it is also important to find a mentor who will help you out, which I was very lucky to have found. There are fewer people willing to do it now because there are so many traders though, and most of them coming in are not nearly serious enough about it to have a chance of making it. They think its something they will get in 6 months, and if they dont, then its "back to the real world". They might as well just write out a check and save themselves some frustration, or go to Vegas and have some fun.
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What has been the result of your day trading? Were you financially successful? How has trading affected your professional and personal life? What are your thoughts about your experience?
Well when I started trading I was in college and was not exactly a skilled student. I had a C average. I had always wanted to be a floor trader in Chicago, but the opportunity to buy 13,000 stocks on the bid and sell them on the ask without leaving my own house appealed to me. Before trading I never thought I would have been in a teaching position, but as I started to have success I started to help others and that led to my other business, which has now grown into the 3rd largest for fee Daytrading chatroom. I am fortunate that both my trading and my website have made me financially secure (the website now makes more then my trading).
As far as my thoughs on the experience, I think it was the right thing for me. But most people end up regretting having tried it. I think those are the people who come in though with out having looked at it seriously and realize it is a new career and will entail a new learning curve with all of the associated expence, pain and work.
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