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whamm!   Albania. Sep 19 2015 23:09. Posts 11625
lol I'm too lazy to word out my blog properly, I'm just here to help smarter guys than me who deserve to know what I've realized, Im sure some here will be good at this and just got stuck in the poker boom and cant get out of the rut.

Damn this is 10x better than poker. Less stress, more money and less embarrassing and all that soul searching stuff is never a problem. I've always thought that learning all the technicals or fundamentals and trading like a "genius" of sorts - because at poker we were taught that way, and the best players played like that. A lot of people here are like 100x smarter and more disciplined than I ever was, so I'm thinking if people really got into it, they could make the shift and make a boatload of money, or at least live comfortably. LP give it a try, the tools you need does not need years of digesting information, learning curve is steep but you only get better over time. I lost half my port, but BR management practices and variance from poker really helps a LOT!!!

So far this is what I've learned is true:

*technicals are great, but it's mostly lagging indicators and you dont really need to learn cloud charting, harmonics and flow, all those fucking scientist looking shit. Learn simple SAR, MACD, RSI, FIB retracements, moving averages and STS - that's it.

*KNOW THE MARKET, IT's PlayerS and OPERATORS - very important to be familiar and good at anticipating the news and making "reads", I play a very small market so the NYSE, NASDAQ is going to be tougher but just know the "latest" . knowing who's buying and why is key.

*Market noise, rumours are a great resource and people telling you it's bullshit is dead wrong. Communities are communites and people in LP are mostly the same helpful people in an x stock trading forum. There's good and honest guys bunched up with retards, just know who is who.

*YOU LEARN 100x more on losing trades, and absolutely nothing when you win. Always remember that.

on't jump into forex and options, commodities are the easiest to enter when still a beginner, trust me. Skillset required is so much less compared to poker, you can make money if you are a 25nl winner I promise you. But you have to be the type of nit who knows when to go full blast when you make a good read or have a lock (of sorts)

*Financial literacy is definitely better for interpreting more complex business transactions and interpreting disclosures which can be tricky. READ DISCLOSURES ALWAYS ALWAYS ALWAYS

*Position sizing correctly and making sustainable bets is key to long term success. Ive learned this the hard way losing a third of my port.

*Trading like a brokerage(day trading like some genius, making tons of small ball winning trades is not the right way if you want wealth accumulation). you will be incorrect so many times you will just be like an FPP pro at stars without any rakeback lol. Making small bets is correct, but knowing when to buy on dips and tranches is vital, just set a budget.

*Money is always at the sitting, not trading like a genius. Dont think you need to be gordon gecko and waste all that money on charges that will build up like a mofo. Less is more, you WILL lose 6 out of 10 trades, break even in 2 hit homers in 1 and double or triple your bankroll. You make money during sideways markets, but don't aim for those, eventually it will frustrate you. Know when to bet BIG. Paper gains and losses dont matter.

*Linear thinking by CFAs or geniuses are not always correct, but they have some good solid points on market digestion of disclosures and hidden gems. The most successful traders never went and got finance degrees from wharton, they never made money from trading their own money but from salaries and commissions from big fat clients with dirty money. They go into losing trades just to ramp up commissions.

*Remember this is legal and can be your lifetime "career" that you can tell your friends and family. The skillset for position trading is so much less than what is needed for say, beating 100nl at stars especially today. I will not bullshit people here and as long as you are sure you will put half the dedication you put in stars, you WILL be ok. Theres no linear path to being successful here, and there's weird ways to make money, unlike poker wherein you have to be as consistent as inhumanly possible to keep up. Bull markets give you the opportunities to sell since everything you hold is going to make money, Bear markets give you opportunities to create wealth.

*only downside I see is capital, you have to have capital 100%, this is not something easy to grind since you are diving head first where everyone plays. this is the only way i see poker being better than stocks, but hey you people here have got money so thats alright.

*It's not completely zero sum and you will make money eventually, staying in the game long enough to build dat trading gene is more important than making money to buy a car when you get lucky in a bull market. Embracing Chaos is what you have to train for, build that thick armored skin for battles you will be waging daily, poker has given me a headstart on BR management and variance, all I need now is that chaos gene to be ingrained in my DNA.



Books: ONly stuff that you need to start
*Reminiscence of a stock operator - it's the "ace on the river" of stock market trading
"Welcome to my trading room" By Elder
*Securities Analysis - Ben Graham (Too long didn't read lol) Still the best resource for computing various valuations in different aspects
*Technical Analysis Explained - Martin Pring
*CFA books on fundamental analysis, or step by step investopedia.com, learn the terms like tender offers, stock splits, SRO, listing by introduction etc etc it wont take a month and you'll know the most useful ones

If you get the hang of it all, use metastock, chartnexus or amibroker as an EOD stock screener, much like holdem manager only tougher to understand. there's tons of other options out there that are web based, i like the end of day offline software better though.

Good luck LP! Ask me anything in this thread. I'll be 100% honest and simple with my answers. Not a brag, but I know I will do very well as I will be doing this till I'm dead, and yes, it is sustainable. U.S. Markets now are going to shit, it's the best time to learn stuff in trading experience points for Americans here lol



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 Last edit: 20/09/2015 07:32

RaiZ   France. Sep 20 2015 03:15. Posts 1503

My father is "playing" that stock market game. You really need a good bankroll in order to be comfortable. Thing is, this China stock market killed a lot of our bankroll. This is something that happen like tomorrow without you noticing it and that could hurt a lot.

Shin-il : Yeah it was very very very good for me too. Rekrul : YOU MOTHER FUCKING FUCKING SON OF A BITCH 

Zadan   Canada. Sep 20 2015 04:09. Posts 971

Interesting, gonna send some questions your way


bigredhoss   Cook Islands. Sep 20 2015 04:28. Posts 8646

can you elaborate on where your confidence comes from? if i'm reading right you lost 1/3 of your BR but seem to be pretty confident that you will be successful for a long time and that it's easier than poker. i'm not doubting you, just seemed like the obvious question to ask. i think we've all been through the poker thought process of "I made $xx,xxx money this month and didn't even run that well, if i can play more hours and blah blah blah i should be able to make $xxx,xxx/year at least", and of course it doesn't end up working out quite like that for most people.


  Embracing Chaos is what you have to train for...

...all I need now is that chaos gene to be ingrained in my DNA.



embracing chaos = embracing variance? i couldn't tell if that's what you were referring to with the chaos stuff but i assume so. getting the chaos gene "ingrained into your DNA" seems like a pretty nebulous goal, if that's a requirement for beating the markets how do you know it's going to happen? or are you just saying that you need to be less of a nit?

thanks for the interesting blog post, just my nature to be skeptical of some things. i have zero knowledge about stock trading.

Truck-Crash LifeLast edit: 20/09/2015 04:29

whamm!   Albania. Sep 20 2015 05:41. Posts 11625

I am expecting 200% ridicule posts from the CFAs here and I am aware there are finance guys here obviously and I would love to know more about the fundamental side of things. Anyway I am NEVER claiming to be a good position trader and there really aren't any "good" ones trust me. Nobody is durr in stocks and everyone is only as good as their last trade, BUT you can be profitable and make a living out of it. I know its just crazy vague but something clicked in my head and learning how to think is half the battle here. It doesnt matter if you make 50 correct trades in a row and the guy beside you makes 45 bad ones and makes more money than you in his last 5 - that is what it is. There's a reason why the biggest names last, and that is CAPITAL - they've made it and they were not stupid with their money, that's for wall street brokers who make money off commissions and go nuts on hookers and coke.

 Last edit: 20/09/2015 05:42

whamm!   Albania. Sep 20 2015 05:46. Posts 11625

yeah and bigredhoss variance is something that we here have all trained for our entire poker careers, I see majority of the people here liking BW Poker and just having the same type of mind. its definitely something u can build on because mentally we are tough as shit vs majority of the population.

think "2008" tight aggressive is the perfect approach to this thing. nothing more, no durr ivey skills to acquire, only be more familiar with teh players of the market you're in and it will only make you stronger as you get more experience. With China, Shemitah bullshit, World is gonna end well its never going to happen and your money goes poooof. Dollar has no value so what? People spreading those rumours all these years have shorting markets and making money while market contracts and expands from fear and normalcy. shit happens when it does and its funny people still reference the great depression 100 fucking years ago when people still rode horses lol

 Last edit: 20/09/2015 05:52

whamm!   Albania. Sep 20 2015 05:56. Posts 11625

Internet of Things or IOT tech will change the world soon, I dunno what companies are going to be there first though. It's a corny quote from livermore but this is two things true about trading "it is a marathon and never a sprint" also "money is in the sitting". dont try to be ivey, just find your own system you are comfortable with, in poker that is simply not enough.

 Last edit: 20/09/2015 06:31

hhse   Australia. Sep 20 2015 07:56. Posts 213

You have a long way to go But at least you got the "stay small" part right.

You are wrong about staying away from options That is exactly where you should start.

Resource wise, I suggest all of you interested to look up tastytrade & dough, both are free resources and very thorough in education. They do live shows Mon-Fri & trade live.

Some good segements in their archive:
- Karen super trader, rising stars (motivation)
- market measures (backtest, theory)
- Tastybites (smaller accounts)
- where do i start/know your options (beginners)

etc

Thank me later. Whoever gets into it, and wants to chat about strats and trades PM me.

 Last edit: 20/09/2015 08:00

whamm!   Albania. Sep 20 2015 08:36. Posts 11625

nice! Of course I would love to learn more haha. yup small bets and tranch buying and selling are simple concepts i ignored and cost me to dig a giant hole i had to get out of, but it is true that ive learnt so much more from losing and there is no other way around it (in my case). I dont touch options yet because we dont have that in my country. my blogpost sounded so much like a poker brag from a newbie and i am 100% aware of that lol. but i'll stick to what i said and i honestly believe in it which is really important, again for myself.


Nitewin   United States. Sep 20 2015 15:40. Posts 1539

Got a chart of your swings like a pokertracker/hem chart, so we can compare? How about a platform to trade on? Thanks!


hhse   Australia. Sep 20 2015 16:02. Posts 213


  On September 20 2015 14:40 Nitewin wrote:
Got a chart of your swings like a pokertracker/hem chart, so we can compare? How about a platform to trade on? Thanks!



All uphill mate. See below




All honesty, with options trading you pick your probability of success. Usually 1 S.D is a good starting point, i.e 68% implied success rate, but reality/actual is
closer to 80% on trades. I highly recommend thinkorswim with TDAmeritrade as the platform of choice. It's a lot harder for me to trade the U.S market due to time differences & full time work
in Australia, but been putting in more effort in last month or so. Below is based on a 20K account with the months I traded, and cumulative gain throughout the year.
Will scale up my account significantly end of year.




And data behind the graph: https://docs.google.com/spreadsheets/...adA2bO5pxczrzfJv8_ug/edit?usp=sharing

 Last edit: 20/09/2015 16:11

whamm!   Albania. Sep 20 2015 17:17. Posts 11625

we gotta have a thread for this. LP members have so much potential.


whamm!   Albania. Sep 20 2015 17:22. Posts 11625

hhse go make a thread about trading, you seem to be the most successful so far. cariadon is also in finance i hope he sees it and contributes


Liquid`Drone   Norway. Sep 20 2015 18:31. Posts 3093

isnt stocks basically poker with inverse rake? obviously a much better way to make your living if that's what you're into.

but requires a much bigger starting bankroll, because while in poker it's fairly easy to double up a small bankroll multiple times, that doesn't happen overnight with stocks.

lol POKER 

Nitewin   United States. Sep 20 2015 22:33. Posts 1539

Any cliffs on your strategy or do I have to read all those books?

 Last edit: 20/09/2015 22:48

hhse   Australia. Sep 21 2015 00:07. Posts 213


  On September 20 2015 16:22 whamm! wrote:
hhse go make a thread about trading, you seem to be the most successful so far. cariadon is also in finance i hope he sees it and contributes



I also have a long way to go in regards to learning - I don't want to be bound by one product type. In process of learning about futures & pairs trading.

But sounds like a good idea. I'll write up a post of what I've learned through tastytrades - summarise concepts I've applied over course of this year, but learned over the 1.5 years


HungarianGOD   . Sep 21 2015 00:27. Posts 459

Would be interested to talk about this with people here if they wish. I'm on the more academic side of things (finance is what I'm pursuing my PhD in atm), so I generally believe in market efficiency and believe that when one produces excess returns (above the EV of your investments given their risk level) by being a day-trader, it is almost always due to randomness, and simply having a static investment strategy based on your risk-appetite is a better idea. In most cases it is extremely difficult to show that beating the market is anything other than running good. Like I said though, I know there are a lot of intelligent people here, and markets are not perfectly efficient, so I can't completely rule it out as a possibility.


RaiZ   France. Sep 21 2015 01:01. Posts 1503


  On September 20 2015 17:31 Liquid`Drone wrote:
isnt stocks basically poker with inverse rake? obviously a much better way to make your living if that's what you're into.

but requires a much bigger starting bankroll, because while in poker it's fairly easy to double up a small bankroll multiple times, that doesn't happen overnight with stocks.


Yeah This. Otherwise I heard there was some "fictional" loans where you could buy a lot more stocks, but I'm not an expert. Also bigger risks.

Shin-il : Yeah it was very very very good for me too. Rekrul : YOU MOTHER FUCKING FUCKING SON OF A BITCH 

Liquid`Drone   Norway. Sep 21 2015 06:53. Posts 3093

I think if going by EV then taking loans to enter stock market should be super +ev it's just too risky for the individual, especially short term. But have 50 different people do that over a 20 year period and I think the average results would be great.

lol POKER 

hhse   Australia. Sep 21 2015 12:54. Posts 213

https://www.liquidpoker.net/poker-forum/1132309/Journey_to_a_Million_with_Options_Trading.html

I feel that the post should have been a blog post o_o


 
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