Millionaire TradersQ: So it was just prior day’s low, not even two days’ low, just
prior day’s low?
A: Yes, prior day’s low, and depending upon how strong the stock
was or what kind of move it made I might do it on a weekly basis
or whatever.
Q: It’s 2000, still precrash, what happens then?
A: The market dried out and some of these techniques that I was
using started to not work. I didn’t know a lot about shorting a stock
and that’s what the market did.
Q: How did they not work? You would buy a breakout and then
the next day you would be stopped out because it would reverse
and take out the low of the candle?
A: Right, exactly.
Q: So you started getting stopped out a lot?
A: Started getting stopped out a lot, yes, and so then I had to go
get a real job.
Q: What was that job?
A: That was selling photocopiers, and I hated it.
Q: I can’t imagine a bigger change of work from trading Nasdaq
stocks in the go-go years to selling photocopiers.
A: I absolutely hated it. I mean, my passion was always the stock
market and along the way I still followed the stock market during
those times.