This is Part 2 (Part 2)
I'm already on Part 2.¬† This one is going to be a breeze, I'll just mostly lift my own writings.
On February 3, 2000, I said (and these are EXACT quotes):
"It is often said to fix something if it is broken.¬† Well...my trading seems to have been broken since I started trading in March of 1999.¬† When I began it was a naive person.¬† It felt as though I were forced into it.¬† Like I needed an escape.¬† Somewhere to disappear.¬† The trading was not even performed on behalf of my own intelligence.¬† It was superficial.¬† It was for show.¬† I liked the money...but what was that money worth when I wasn't earning it as a result of my own intelligence...well next to nothing obviously because not only was I not earning the money by using my own intelligence but I lost it through my own stupidity.¬† The purpose of the following timeline of my trading career is to fix what's broken.¬† it's been almost a year now.¬† I have been humbled and am ready to admit that when it comes to the market I am not nearly as good as I think I am.¬† I am just another participator and I should make the best of it.¬† Just work hard and they say it will come.¬† Well, now it's not so much about the money but more the challenge."
That was really annoying to retype.¬† So in Part 1 when I sounded really smart for turning $5,000 into $15,000 in 6 weeks, I wasn't actually so smart.¬† Well what I did was smart- there was a Yahoo finance competition going on and it would let you see who the best performers in trading were and I think there was a $5,000 prize, so my common sense told me that anybody who had big info on companies- bankers, lawyers, employees etc- would use that info in a competition where they would get a prize but not break the law.¬† Turns out I was right and that's how I tripled my money in 6 weeks- so maybe I actually was quite smart for doing that.¬† NFI
Onto some of the boring stuff, a simple lesson here is, find where you can always get a legal information edge.¬† Use common sense, search anywhere and everywhere, you'd be surprised where you can find it- simply walking through a mall, calling up stores, going to car dealerships.¬† People don't realize that everyday everything thing they do, everything they touch, everything they think. is often determined by a bunch of guys in a boardroom somewhere deciding what cars to sell you, what products to increase or decrease production of...just about everything.¬† So next time you go to the grocery store and they say your toothpaste is no longer made, you can blame some old man or lady in a boardroom somewhere who was looking at some boring freaking spreadsheet.¬† Considering I've spent most of my career trading a bunch of large corporations' stocks, I've always been very anti corporate- trading their stocks gave me the freedom to hate on them I guess, since I was pretty good at it.
Ok so I lost myself there- the entire point of the quote from February 3, 2000 was to go back to 1999.
Looking back at my notes it says February 1999 was when I started trading.¬† On March 1, 1999 I wrote:
"Already started making predictions on Yahoo! and correct on first one.¬† Damn, this is easy.¬† Buy Trading to Win By Ari Kiev"
Remember I wrote about Ari in part 1.
Ok so clearly I thought this was easy and I was setting myself up for disaster.¬† Damn if I heard a kid say that to me today I'd do the opposite of everything he said and make a fortune.¬† I remember an analyst who worked for me at my hedge fund.¬† He was so BAD that I always did the exact opposite of what he said.¬† He made us millions.¬† I've always told people who work for me- if you want to get rich, always be consistently right or wrong, either way you are a rock star and I can figure out how to monetize you, but if you're in the middle and right half the time, wrong half the time you suck.
The lesson is- always be right or wrong, I rather have a guy work for me who is wrong 90% of the time than someone who is right 70% of the time.¬† It's all about consistency.
Kindly direct all hate mail to firstname.lastname@example.org