Anyone considering quitting their job to become a day trader needs to watch a few episodes of Wall Street Warriors and have a look at who’ll you be up against. For example, the 25 year old in Manhattan who’s managing a multi-million dollar hedge fund; he watches news and stocks all day, waiting for the small fry to come in and place their bets the way he knows they will — Bad news? They’re gonna short, so he drives the price up using volume. Good news? They’re gonna go long, so he drives the price down, again using volume. When they panic, he chews ’em up and spits ’em out. And this is the 25 year old just starting out. Anyway, you get the idea. I know I’ve learned my lesson (multiple times, actually). Your mileage may vary…
