O'Reilly logo

The Truth About Day Trading Stocks: A Cautionary Tale About Hard Challenges and What It Takes To Succeed by Josh DiPietro

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

INTRODUCTION
The Wholehearted Amateur
The year was 1999. I was in my car, on a mission. I was driving to Irvine from my home in San Diego. Every mile glowed with deep indigo skies and the kiss of a warm, mellow sun; these were the everyday blessings I enjoyed in Southern California . . . even in the middle of winter. This climate made me hopeful and encouraged. It felt like a good luck charm. I had moved here from the cold, gloomy Rust Belt.
I was headed for a three-day program of training that focused on day-trading strategies. One week before this, while talking on the phone, I had become convinced I should go. The sales rep I spoke to from the sponsoring firm had performed his job admirably; he had made me charged up to attend.
Up to this point in my business career, I’d been trading stocks for six months. I hadn’t yet done any day trading, however, and I was gung-ho to learn how. As I narrowed the distance between myself and Irvine, my expectations were high. I never took in any scenery; I was so deep in thought that I was driving by reflex.
I kept thinking of the things that I was going to buy soon after I got back from the training program, when the big bucks were going to flow. You see, I was brimming with confidence. In my short time in the profession of dealing with stocks, I had made a few really good trades.
It had never yet occurred to me that they were just dumb good luck.
Well, I got to the designated luxury hotel and let it gouge my credit card, and then I settled ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required