Lester Needs to Day Trade
A couple of years in the past my brother, Lester, stop his job as an assistant vice principal of our native highschool to turn into a day trader. I really believed he had misplaced his thoughts on the time or perhaps it was a mid-life disaster. He was married with two teenage kids and a spouse who additionally labored. However, Lester defined to me that he may earn more money as a day trader than he may ever make within the faculty system. I instructed him I believed his determination was dangerous, egocentric, and silly. This wasn’t what he needed to listen to. However, he nonetheless went forward together with his plan to become involved with Stock day trading.
Regardless that I did not agree together with his determination, I’ve to confess that Lester actually knew his stuff. He’d been studying the Wall Road Journal, the Economist and Barons for years earlier than he determined to get his ft moist. When he lastly received a trading account with an area broker, he cleaned up. His portfolio almost doubled in his first three years of trading alone. He appreciated bragging about the truth that he made extra money on his investments than he did from his faculty wage. However, he additionally hated the excessive fee prices that his broker charged him, and he did not assume his broker knew what he was speaking about when it got here to managing a portfolio. Shortly thereafter, Lester determined to take up Stock day trading full time.
Although it was irritating and intensely dangerous, Lester instructed me he liked the pliability Stock day trading afforded him. For the reason that the market would not open till 9:30 within the morning, Lester was in a position to spend extra time together with his children. He even made them breakfast and drove them to high school. In his first few months of Stock day trading, Lester made greater than I do in a yr. After I requested him what his trick was, he simply smiled and stated he was simply that good. He had already acquired the Wall Road broker’s unctuous conceitedness.
I later found that Lester’s Stock day trading technique was simple-he solely traded one Stock all day. And since he may dedicate all of his vitality and a focus to watching this one Stock, he received an edge. After some time of Stock day trading this one Stock, Lester started to see patterns in how the Stock would trade. This allowed him to make little income a number of occasions a day. I requested Lester to show me this technique, however, he smugly replied, “You both have it or you do not.” I like the man, however, typically I actually cannot stand him.