I also want to say that I first started trading in 1999. I
was a young buck living in NYC, had a good job running a lab at
Columbia Presby Hospital. The dot com boom was going on,
every MD was bragging how much money their portfolio was up each
day. I was jealous and needed to get in. So I poured
all my extra cash into my 401K. I was in and riding the wave
like everyone else. Going out big city, big lights.
Summer in the Hamptons, etc... Then 2000 hit and I had no
clue what happened, my 401K went poof! I was poor again:(
after blaming everyone but myself, I finally came to
the realization that I let it happen. I bought into the
charade. Herd mentality. Then I went on a journey for
the next 10 years and still today, to constantly be a student and
humble. It has paid off and I am so glad that that had
happened to me in 2000 because I learned so much from that painful
experience. This too shall pass and if we are positioned
well, which we are (being on this website), then we will be ready
for the next ride up or down but in the black.
Posted by rollerblader on 16th of Mar 2020 at 02:11 pm
I hear you ssaffer. Mid to late 90's in my early 30's I
started day trading, no charts at the time just following ticker
tape and trying to play swing trades. By early 2001 or so I was
forced to claim bankruptcy. Mostly due to my inexperience and
thinking the market was easy. It was a tough pill to swallow and
admit that I got beat. Now I'm a little more seasoned and in some
instances very fearful of pulling the trigger on some trades. The
only funny side of claiming bankcruptcy was the banckruptcy
lawyer asking what I owed. When I told him he laughed and said
"that's nothing, I have people owing a few million" My response
"should I wait?" Unfortunately I wasn't able to get more credit to
get close to his number lol. All the best to everyone on this
site and hoping this virus is a past sooner rather than later.
Thanks for sharing you story. Most times we just see the
wins people celebrate but no one gets there without some sort of
failures (they only way you learn). My biggest hurdle was
money management and trade size in different markets.
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I also want to say
Posted by ssaffer on 16th of Mar 2020 at 12:54 pm
I also want to say that I first started trading in 1999. I was a young buck living in NYC, had a good job running a lab at Columbia Presby Hospital. The dot com boom was going on, every MD was bragging how much money their portfolio was up each day. I was jealous and needed to get in. So I poured all my extra cash into my 401K. I was in and riding the wave like everyone else. Going out big city, big lights. Summer in the Hamptons, etc... Then 2000 hit and I had no clue what happened, my 401K went poof! I was poor again:( after blaming everyone but myself, I finally came to the realization that I let it happen. I bought into the charade. Herd mentality. Then I went on a journey for the next 10 years and still today, to constantly be a student and humble. It has paid off and I am so glad that that had happened to me in 2000 because I learned so much from that painful experience. This too shall pass and if we are positioned well, which we are (being on this website), then we will be ready for the next ride up or down but in the black.
I hear you ssaffer. Mid
Posted by rollerblader on 16th of Mar 2020 at 02:11 pm
I hear you ssaffer. Mid to late 90's in my early 30's I started day trading, no charts at the time just following ticker tape and trying to play swing trades. By early 2001 or so I was forced to claim bankruptcy. Mostly due to my inexperience and thinking the market was easy. It was a tough pill to swallow and admit that I got beat. Now I'm a little more seasoned and in some instances very fearful of pulling the trigger on some trades. The only funny side of claiming bankcruptcy was the banckruptcy lawyer asking what I owed. When I told him he laughed and said "that's nothing, I have people owing a few million" My response "should I wait?" Unfortunately I wasn't able to get more credit to get close to his number lol. All the best to everyone on this site and hoping this virus is a past sooner rather than later.
Thanks for sharing you story.
Posted by ssaffer on 16th of Mar 2020 at 02:29 pm
Thanks for sharing you story. Most times we just see the wins people celebrate but no one gets there without some sort of failures (they only way you learn). My biggest hurdle was money management and trade size in different markets.