Churning and Burning
Just ran into this highly entertaining weblog, Churning and Burning. A daytrader at a New York prop firm lost a few bucks in trading some OTC/Pink sheets stocks. Nothing new here, except for the fact he sure knows how to write. The hilarious MS Paint graphics are the icing on the cake.
Although I do know some daytraders who are consistently profitable for many years, daytrading isn’t my game (and “technical analysis”.. ah nevermind). However, I assume everybody in the business has once taken a six figure hit on a bad day (at least, I did). Or sat next to someone who did.
Anyway, with markets slowing down towards christmas it’s a funny read during the day. The guy is not only a comedian, has got some smart things to say.
first, what’s new, next
btw boring pictures
if jack isn’t making money day trading on technicals, how is he generating pnl, long term investment returns on a large capital base using fundamentals?
Sounds very similar to how they trade at Tibra… ho ho ho ho
sorry, what’s the joke here?