Re: options (finance)
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Day trading in a Bear market is nigh on impossible.
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i agree with the general point of your post, but this statement is wrong. when you're trading with a margin account it's just as easy to short 1000 shares of IBM as it is to buy. downtrending markets tend to fall faster than uptrending markets go up, so there should be more potential for a day trader to make money when the market goes sour.
but it is for sure true that it's easy to grow overconfident in your abilities and the likelihood of continued success if you have only traded for a short time in just one type of market environment.
also, for those of you considering a trading related post-poker career, please at least aim higher than day trading (either for your own account or a day-trading firm). not that everyone would be concerned about the prestige aspect of it, but to the rest of the street, day trading stocks engenders about as much respect as being a stock broker. and that should be a concern if you are trying to leverage something like day trading into a "real" street trading job, especially something that is not just straight stocks.
getting on a trading desk for a big securities firm or a hedge fund has so much more potential for $$ and for actually doing interesting work, regardless of whether it's market making or longer time horizon strategy stuff.
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