Originally Posted by
SSlow
Good on you for timing the market correctly, but my experience has been quite the opposite. Last year when I was bored on reserve I thought I would get into day trading with some play money...and whew boy was it ugly. When I finally threw in the towel I was down like $2k or so, which was sad considering that even the village idiot could've turned a good profit in 2019 by just buying and holding pretty much anything. You live and learn....
Sorry to hear it man, I am by no means a market star or financial guru. When I say I’m more up than down it’s not to say I’m off to sail the Caribbean on a yacht any time soon. Day trading is definitely a grind, and I don’t have the tenacity to work the up and down ticks every day.
My point was that when you figure an historical average of 5-7% market return and you’ve hit 40% in a day, why not realize some of that good fortune. If the stock doubles again tomorrow so what, you still kicked butt.
It’s like if you play roulette and double your money on red five times in a row, some people can walk away feeling great, others think that if they took their chips down and red hits again, they actually lost.
Horses for courses and whatnot.