| Why am I writing about day trading when my | | | | attempts to do something quickly the results are |
| profession is real estate? Because the same mistakes | | | | perilous. I am excluding examples here to avoid |
| occur in both sectors. | | | | politicizing the question except to say whether its |
| Minute by minute investing is a part of daily life now | | | | war or distribution of vaccines, we probably want our |
| for many people. Day trading for John Q Public | | | | government to act assuredly, not quickly. |
| started several years ago with the advent of the | | | | The same holds true for investing in real estate. As a |
| internet. It became so prevalent that even Charles | | | | full-time professional, there are "deals" that come to |
| Schwab had offices converted to use by day | | | | my attention every day. One or two, in the course |
| traders. I profess to know nothing about day trading | | | | of a year, requires fast action. |
| other than it seems very dangerous for any novice. | | | | I have nothing against day traders. A select few |
| It is in the same category as hawking "nothing down" | | | | know their business because it is their business. This |
| real estate to the masses. Sure, it can be done, but | | | | brings me to a recent one minute commercial on |
| how does a person that makes widgets by day | | | | Bloomberg Radio about how this guy loses his job |
| measure the risk of investing in real estate by night, | | | | and says it's the best thing that ever happen to him. |
| as a hobby? Do they know their entire net worth | | | | Why? Because now he's a day trader! Right. And I |
| could be at risk by not adhering to the "special" | | | | teach ballet and auto mechanics. |
| instructions on page 232 of Guru's #21215"s | | | | Whether real estate or day trading, take the time to |
| playbook? | | | | learn the craft. Forty hours of training will probably |
| Notice that almost anytime the federal government | | | | save you four hundred hours of headaches. |