Durham Day Trader Spends an Hour a Day Making the Big Bucks
Posted May 5, 1999 7:00 a.m. EDT
DURHAM — With the stock market as hot as it is, a new type of investor has emerged; the day trader.
Day traders are often not well prepared for the task, spending stressful hours on a computer and often losing money. However, one Durham man is helping others learn how to trade online while maintaining an easy going lifestyle.
Thami Alami has been trading stocks online for less than a year, and with some special training, he is making money.
"Basically yeah, that's my way of living, and I make a living out of it," he said.
The general perception of day trading is rows of computers and traders stressed over whether they made the right buy or sell.
Pascal Monmoine paints as he watches minute changes in selected stocks. Rarely making more than a half dozen trades a day, he looks for not the quick buck, rather the quick quarter.
"I see what they do, so I work on what they act about, what their actions are, then I jump in and move," Monmoine said. "I take a tiny amount and get out before they change their minds, because they always do."
Monmoine runs a company calledPM Tradersthat trains others a relaxed day trading technique, but that is just a small part of the process.
"Eighty percent at least is about your self control, controlling your emotions," Monmoine said.
His work day is short.
"We were both lucky and skilled enough to make enough money in the first hour, and then we do whatever we like," Monmoine said.
Alami is one of a hundred or so Triangle day traders who learned the technique in Monmoine's seminars.
"There is a learning curve and you don't win, I would say, the first six or seven months," Alami said.
Advice for the new trader?
"Only start learning with money you can afford to lose," Monmoine said.
Monmoine has made more than he has lost, and enjoys a family life few can boast. He says it's all in a day's work.