Here is a short answer to my scalping exercise: It was not profitable. I said was because I stopped day trading. I am eating my humble pie, agreeing with those of you who predicted I could not make it work. My sim trades were profitable, my small live trades (2, 5, 20 shares per trade) were profitable. My full size live trades (200 -500 shares per) were profitable before President Trump took office but now is a loss. I believe my method just simply could not handle the big swings due to Trump. No excuse, it is not good enough. I started my trading/investing journey in 2010, and since then my portfolio has grown many times, to 8 figures today, thanks to riding this bull market and been lucky. Frankly any more money is meaningless especially with the recent passing of my wife. I should quit now while still ahead. Best wishes to all.
Good Evening ironchef, My sincere condolences to passing of your wife. I am sure she was a loving woman, because you are a sincere caring man. I am sorry for your loss. My personal opinion, only. Great job on your trading/investing success. You earned an 8 figures portfolio, quit day trading man and go enjoy your life in peace. Go do fun nice hobbies. Take care buddy!
Thank-you for the very honest update. I wonder if the advice that people gave here would have been different if we knew your nest egg was already at 8 figures. I think most people day trade for income, or rather try to learn and think we can make it work, since they need income. But if you're in your retirement years with 8 figures, I don't think it makes any sense to think about daily income, unless trading is really in your blood. Lastly though, I can certainly understand how none of this matters if you can't enjoy it with your wife. Sharing it with someone is certainly the whole reason for why we do everything.
Hi ironchef, I’m very sorry for your loss, and I do hope that you have some support during the difficult times. Please look after yourself. Best wishes to you and your wife, your souls will meet again. PS: I do apologise if the following is inappropriate, but it helped me with re-framing things, keeping my sanity and adapting new useful beliefs when I went through similar loss.
I am sorry about your wife, I was hoping the experimental treatments that you two were investigating would put the disease in remission. You have been one of the kinder members on Elite, I wish nothing but the best for you.
Can we assume that most of it came from buy and hold rather than trading? I'm curious what is/was your profession?
This book proof of heaven mentioned in your post I’ve read it, afterwards I went online and did some research about this doctor author, turned out his license to practice medicine was revoked.
ironchef, sorry to hear. RIP to your wife. @Xela, we all know about your liaison with @Handle123 and the NHS. The unicorn survivor a 20Y remission with a Stage V astrocytoma. Amazing. The most cited case in the journal.