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401(k) Day Trading by Richard Schmitt

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CHAPTER 8

Game Plan

The Art of Day Trading

Genius is 1 percent inspiration, 99 percent permission.

–Adaptation of Thomas Edison's quote “Genius is 1 percent inspiration, 99 percent perspiration” from San Francisco Chronicle, March 10, 2009

She called herself the Karma Queen—something having to do with one good act begetting another. Only this time it applied to parking her car. As a native New Yorker, but from the other part of the state, she could not exist without her car to get around at will. Parking it was a different matter entirely; such a hassle it seemed for everyone else but her.

She liked to believe she lived a simple but good life. For treating people well, she was rewarded with access to the finest parking spots in town. The parking problems the rest of the world faced were not hers, as the most convenient parking spot close to her destination seemed to await her every arrival. Once again a hectic day at work necessitated a perilous, but ever so courteous, car trip downtown. Only a quick parking job would allow her to make it on time to the day's most important engagement—her preschool daughter's ballet recital. She needed a parking spot, and she needed it now. How would she do it?

She had a strategy, confidence, and something magical like a little karma. Her strategy had something to do with slowing way down before arrival at her destination and looking at the big picture for any and every sign of people bidding a quick adieu to their parking spots. She would not ...

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