New investor ?

Discussion in 'The Cocktail Lounge' started by slick8, Aug 14, 2020.

  1. slick8

    slick8 New Member

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    I keep seeing all these people claiming huge gains etc, are they all full of shit or do they just want money? If not , is there anyone that is worth looking at?

    thank you
     
  2. slick8

    slick8 New Member

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    Anyone??
     
  3. TomB16

    TomB16 Well-Known Member

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    8 People go to a poker game. They all leave with a lot more money than they came with.

    Exchange statistics show us that 94% of trades lose money, and yet every trader, every system, is wildly successful. That stat isn't 94% of traders. It's 94% of trades. That means today's trade has a 6% chance of break-even or better. Tomorrow's trade has the same, and so on. The odds of someone day trading for a long period of time and making money are infinitesimal, and yet every day trader makes a ton of money.

    If you poll the folks who used to day trade, but stopped, you will find every one of them made a ton of money, also. The typical figure cited is $4000 per day. When asked why they got out of it, the only reply I've seen is "it was a lot of work". For $4K per day, I would blow a goat. What's this too much work rubbish?

    I suspect, this is only a guess, that to make money trading you have to disregard the odd trade that is really bad. These are probably dismissed as outliers. Most trades are probably neither big makers or losers.

    Go to your nearest retirement community and find out who got there with trading. If you find someone who did, ask what their system is. If you live near the ocean, go to a yacht club. See who made their money from trading.

    Infomercial people rent their houses/cars/hot chicks to make those infomercials that explain how wildly successful they are.

    The way you make money fast is to tell people you know how to make money fast and that if they give you their money, you will share it with them.

    I have a system that is certain to make money. I don't trade and I am happy with reasonable returns.
     
  4. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    First question: "full of shit" -or- "want money"?

    Answer: Probably not "full" of shit. Most people have the capacity to take on more shit but most people want money or at least they need money. So I'll guess "want money".

    Second question:
    "anyone worth looking at"?

    Answer: Since it's free monetarily, I'll assume you mean: is it worth your time? So the correct answer would depend on the value of your time. So based on the fact that you bothered to ask the question, I'll guess that the answer is "Yes".
     
  5. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    I see TomB is still thumping the Bible according to Benjamin Graham. :lauging:

    Thou shall not go to poker games.

    And when thou visit Ebay, thou shalt only use "Buy it Now" and thou shall hold your Ebay purchases forever or pass them on to your children for re-selling them is trading and trading leads to ruin.
     
    #5 Onepoint272, Aug 16, 2020
    Last edited: Aug 16, 2020
  6. A55

    A55 Well-Known Member

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    Yes. Look at all of them. You have to investigate. Just like a failed science experiment. Even suspecting it to be a failure, you must allow it to fail, to prove it wrong. So check out and explore everything.
     

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