Millionaire Tradersreally have to strive to get some nice days in. I will put a stop to
the downside as well. If I’m up$1,200, I want to guarantee that I
walk out with$900 or$1,000. I’ll keep trying to drive forward and
I’ve seen those 1,200-dollar days have the possibility to turn into
three- or four-grand days.
Q: On the other hand, let’s say you start slipping. Your$1,200
slips back to$900, do just watch stocks for the rest of the day, or
do you physically turn off the screen and walk out of office?
A: I’ll sit tight. I just call it sitting on my hands. I’ll still go through
the motions. I pull up stocks with my filters, but I won’t get in unless
I’m at least 90 to 95 percent certain. That keeps me pretty much at
bay for the rest of the day. Walk out and leave? Never! [laughter.]
I probably should at times.
Q: Is it the excitement? Is it the game that keeps you in front of
the screen so much? The love of the action?
A: Yes, I really enjoy it. I will say I enjoyed it a lot more in
previous years because it has become so much harder I think.
But, yes, I enjoy it and again it’s only six-and-half hours. If I lose
that discipline, I would hate to see the other side. I love the daily
competition and strive to improve every day.
Q: Has it gotten harder because volatility has compressed? Or
has everybody become sort of sharper and better in markets, less
of an edge there?
A: I would say volatility has a lot to do with it—the automation
and all of these computer programs in the market. I heard that
they now trade upwards to 70 percent of all the volume—which is
fine if you can figure out the program and you use them to your
advantage, but I think they’re getting better.