So you make money trading your stocks and bonds and you trade it all the time. How about you do your own trading? I thought you were supposed to trade in your own brokerage.
So I went to my broker with some basic questions: “How much does the stock ticker fluctuate?” I knew it’s in the thousands and I knew it’s in the tens of thousands and then I knew that you know about this thing called “margin, I know about margin and I know that we’re a little bit short on most of our stocks and that it means that we’re not making money in this market.”
So I was like, “Alright, I’ve put some more information at your service and also some questions that might help you understand more clearly how you can use your personal investments.” And the broker’s reaction to me was to say, “You know, you know, our stock price is very volatile and the trades are very large and those people are buying and selling in milliseconds.”
So I asked, “What am I doing wrong?” And he said, “You’re trading in your own brokerage. Are you buying and selling your own securities?” And I said, “You know, that’s a very difficult question and I don’t know.”
He said, “You don’t know?” And I said, “Well, I think I do, but I don’t know.”
Then he asked me a lot of questions: “What are the characteristics of a great trader? What’s the difference between a great trader and a good trader? How are you more efficient than somebody who didn’t do much trading?”
And he gave me a list of criteria that he thinks are valuable characteristics on the trading side of the board:
1) It’s important to know what markets are being bought and sold. It might be the best way to tell a good trader from a bad trader.
It might be the best way to tell a good trader from a bad trader. 2) It’s important to know whether a person is an active trader who makes money on the volume of the trades he makes.
It’s important to know whether a person is an active trader who makes money on the volume of the trades he makes. 3) It’s important that a person make a living off the volume of his trades.
It’s important that a person make a living off the volume of his trades. 4) It’s important that a person be good at taking
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