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Like anything else in life, it depends on the individual and how much work
they're willing to put into becoming a successful day-trader and whether or
not they have the aptitude, ability, learning skills, and the perseverance
to push through all that is necessary to become successful.
I'm very clear that I would not have the ability and aptitude to become a
professional hockey player, but I am now a day-trader and If I had known how
much work and perseverance would be required 15 years ago when I set out to
be a trader -- it might have looked easier to push forward with the attempt
to become a pro-hockey player.
Levitt was speaking from the perspective of an observer-- not a successful
trader. His intent was to put a scare into those who should never attempt
trading anyway. I hope it worked.
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At 11:33 AM 2/2/99 -0800, you wrote:
>Greetings,
>
>SEC Chairman Arthur Levitt, alarmed by the increasing popularity of day
trading, has warned investors that rapid-fire online buying and selling can
be dangerous.
>
>In the Feb 4 edition of Business Briefs, Profnet (the service) would like
opinions on the pros and cons of online day trading. I was asked to provide
the collected wisdom from traders on internet forums.
>
>So the question is simple: Is the chariman correct in saying that it's
dangerous (as opposed to being mere risky) or is his point of view from the
"Old World", like a horse and buggy owner giving his opinion of the "danger"
of automobiles?
>
>- Mark Jurik
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