Stocks Scam "ask me how!" - Page 2

Heres another poker analogy:
we worship durr ivey isildur and how they play, we dream to be like them one day but are always reminded that their "style" is not what made them that way. watch hours of videos, talk about poker with people of the same skill and i promise you more often than not you will hit that "wall" of resistance. but try being friends with them and hang around with them, talk with them directly and in a month you will play like them(WCG rider?). its a tough task to emulate their style simply because you are not made of the same dna.

q: I cut loss too easily
a: do you have a tight stop?
q. yes.
a: tighten stops when it is speculative and conviction is low, for stocks where ur conviction is high loosen your stops a little
q: but i cant seem to do it
a: then dont trade stocks you dont really believe in, simple

q: I lose so much but gain so little
a: set tight stops and let winners ride
q: market is bad, nobody's making any money
a: don't trade, use the time to further strengthen knowledge, psychology, be inspired by philosophy or practice reading charts/funda
q: It's the end of the world
a: as long as there will be survivors, and the office building or manufacturing plant still functions then time is on your side lol

q. charges are gross, it cuts my bottom line
a. you are trading too frequently, less is more and less commissions more money in your pocket
q. But smart people know this theorem, and are masters degree holders from wharton
a. Can they trade their own money? how about small funds can they grow that? Their risk tolerance for your money comes with a fee for themselves as a hedge, why are they even working when they are so brilliant?
q. I know this smart guy who gets it right 70% of the time in his trades
a. I know this guy who gets it right 10% of the time but i think he's better
q. Youre retarded
a. How much did your friend make? if its more than my friend then I'd agree with you that he's better
q. Even if he's better, thats not sustainable
a. how the hell do you know that?
q. I want something that i can just leave and come back after five years
a. You need some luck, since things are in a cycle, just pray you come back and it's on the top half of the spectrum

q. I always buy at the top and get whipsawed(retracement)
a. Find characteristics of price movement of that stock and look for patterns, buy near support during pullbacks coz there will be
q. I dont know fibonacci and all that jazz
a. then for now dont buy during rallies if it tilts u
q. they say NEVER catch falling knives
a. as a rule that is correct, but never say never because in some cases where you know that it is only a kneejerk reaction, look for fib sar
and watch for potential reversals, bottom fish in small tranches with the bulk of your budget at the bottom, small bets then when you see a strong upward move bet big to pull down ur average cost, if still the move does not go as strong as you like and feel jittery still, cut loss near ur average adn fight another day

q. is buying on breakouts safe
a. u are basing it on momentum and is never a certain thing, but brokers and chartists love to average up at new highs if they see a new upward trend so it becomes a self fullfilling prophecy of sorts. Price action and tape reading is key.

these are all conversations i hear and read all the time, im paraphrasing a lot of them but overcomplicating everything is an excuse to fail. you dont need to be a genius trader to make money that you are happy with. its not an easy thing to do but its sure as hell easier than poker in my experience, which is why i want to share this with everyone here. Ive realized whats important and whats not.

On September 25 2015 17:04 Romm3l wrote: what is your bankroll and what are you paying in trading costs?

50k usd but my trading cost was around 10k lol
I know its terrible, thats why im so excited for next year when that is reduced to 1 or 2kusd. It was a learning experience.
Just by that I increase my equity and port, its like a business where I can save money on areas that I can. It's a laughable BR i know but unlike poker its easier to scale but obviously im not shooting for Daigo level capital here as i am not as smart. Intelligent people with an open mind can probably do so much better than I have. Imagine how better and less reckless Id be in a couple more years of trading.

On September 25 2015 17:24 whamm! wrote: Daigo level

:D

LOL I meant Ray Dalio, I don't even care to remember those guys names. As long as I accomplish my own personal goals Im just as happy as those guys, maybe even more as I have a lot less to lose.

Greed is good but doing trades on margin(borrowing) is a sure way to embrace chaos, learn early but regret it. I cannot recommend any beginner to do it simply because it is a cataclysmic event in your journey - avoid doing things that ruin you COMPLETELY. You have to stay long enough, experience adversity and wise up for you to keep growing. As you go along, you will notice you go into a lot less losing trades, trade less frequently and even have more time to study. Overtrading is a beginners first fault, as you will be overwhelmed with all the good choices out there and would want to "plant" and get a piece on everything that moves. Personally I like doing three as I am comfortable watching those. 1 "trending" stock, 1 which has been doing well for the year (increased earnings etc growth story), 1 cheaply priced stock or a stock which has gone up and down and is in consolidation mode. the majority of my port is obviously targeting the most active stock so I focus on that 85% and never even look at other "moves", jealousy makes you trade terribly and I have done it so many times in teh past.

You only have to get "lucky" and hit your set once and you're good for the year, if you are starting to become a good trader that's how it's going to be for your entire career. As long as you are smart with your capital as it grows (withdraw capital, as a warchest of sorts for markets crashes where bargains are everywhere and returns will be insane). You can also use that cash position when you want to double down, average up or down in certain situations wherein you are quite sure with your instincts on price moves. Making the most of your right calls and keeping capital relatively safe is one step to becoming a good trader. I must admit you must hit a bit of luck when you start,, as you will never gain confidence as long as you're simply breaking even or losing, in the end it's still "how much did you win?" that's going to determine your performance, not your hindsight. Don't get it twisted though, results DO NOT matter when you are still learning. Be smart in the risks you take when you start because building knowledge and confidence is of top priority

Anything Internet of things related could drive part of the economies to robusto status, keep an eye on it since alot of big money is already going in that direction. Read IOT, and the industries it will propel, it is soon going to be in everything you see and will keep going and going for years to come. Market is starting to get tired of all these cute tech startups with no real value or implications, it is looking a the next wave as the NASDAQ is already grossly overpriced with nowhere to go.

Thats a specific tip to watch out for. It's going to be the next dot com thing. Read up on it, watch the stocks that affects it and see for yourself. But be reminded that were not into "Stock picking" its impossible to make a living doing that, greed will always get the best of us in the end. Execution and mastery is what we really aspire for.

NOTE:
Read on IOT (INternet - of - things) IBM openinterconnect etc etc

for what its worth whamm, you sound like neilly. dont want you to get crushed so being as straight forward as possible.

On September 27 2015 01:58 PoorUser wrote: for what its worth whamm, you sound like neilly. dont want you to get crushed so being as straight forward as possible.

Noted sir. I'm thinking of moving this to my Blog. Can mods help me move content? TY

Being totally honest, I can't figure out wtf is going on in here. I spend a good deal of time with investments, and have a decent amount of cash invested. So I'm super interested in this thread, but super confused with all the ludicrous analogies.

Reread this thread 2 more times and still no idea what the purpose of this thread really is. Agree with PoorUser that your ramblings are neilly like. No idea where most of this is going.

But I do think LP should have some investing type thread. I'd be curious to hear how a lot of LPers have largely transitioned out of poker (or haven't but still invest), and different thoughts or approaches to investing.

cliffnotes?

didn't lose everything yet haha. i guess it was silly to think it would make sense to anyone but myself. yup investing ala cost averaging is great and safe but no guarantees still. robert kiyosaki even declared bankruptcy recently lols

cliffs: whamm! needs a new avatar icon

On October 07 2015 22:30 Bigbobm wrote: Being totally honest, I can't figure out wtf is going on in here. I spend a good deal of time with investments, and have a decent amount of cash invested. So I'm super interested in this thread, but super confused with all the ludicrous analogies. Reread this thread 2 more times and still no idea what the purpose of this thread really is. Agree with PoorUser that your ramblings are neilly like. No idea where most of this is going. But I do think LP should have some investing type thread. I'd be curious to hear how a lot of LPers have largely transitioned out of poker (or haven't but still invest), and different thoughts or approaches to investing.

+1. I spend more time investing than I do playing poker. I also have no idea what the purpose of this thread is despite having read it multiple times.

On September 25 2015 03:24 whamm! wrote: Show nested quote + On September 25 2015 03:13 Balzamon wrote: I may write a longer response at another time, but I will start asking what is it that you advocate here really? Is it daytrading or rather making good investments for the longterm at right moments? They are very different. I'm sceptical to believing daytrading would be easy money in any way. Smart investing on the other hand, sure! What returns are you trying to achieve? I think its very easy to be dillusional about your returns before experienced your first market crash. You seem to have gotten involved with this fairly recent, thus you have only experienced an golden era were you make money whatever stock you happen to pick. There will come periods that stretches up to 2-3 years thats goes the other way.. I am aware that can happen, but I can't think like that and trade efficiently. Of course bad things happen everyday. I am trying to advocate that people dont dismiss trading stocks as an old dated livelihood where everyones solid. I will not limit myself to buy/hold, daytrading or position trading. Obviously when markets crash mostly you will watch it closely and stay out of it completely, look for signs of bottoms and making small buys until an reversal occurs since there will be so many attempts at it. People want to be one dimensional and limit themselves to one style which is really the reason to grow tired of it. Being clever is more important than being a genius here. BTW I appreciate that you bothered asking questions since I know I look insane posting thoughts by myself haha

Ok I dont know why I do it because as the other write, you do sound borderline insane in this thread with A TON of loose ends with no real points. But I will ask a couple of questions again. Ok so you are trading in many different ways, but again I think it is a fundamental difference between investing capital in an effiecent and educated way to try to get a good yearly return and actually trading daily to try and make something of a montly salary that you live off. What exactly is it that you are trying to do? What return on your capital do you hope for? I assume you think you can beat index by a ton?

In some recent post you write, "dont stock pick", how can you suddenly in all of this write such a thing? If you dont stock pick then how are you supposed to beat an index? Isnt pretty much everything else you write about finding the right stocks so your returns are greater than lets say S&P500 ?

For the sake of clarity, why dont you give us some clear cut examples of your own trades (would kind of be equivalent of a hand history in poker, learning by watching anothers exact action). Give us an example of a trade that you have made / one that you will hope to make soon. How was your decision making leading up to it, what fundamentals do you base it on and so on. What do you think of the market right now, and what instrument do you use, just stocks or also options for shorting and so on?

I really hope I could explain my thoughts better I apologize guys. I really want to help that's why I want you guys to read about stock investing/trading. I trade a less sophisticated market e.g. PSE, it's quite small with no short selling or derivatives. The DOW NASDAQ is really so much more complex I'd imagine. Don't worry guys, I'm back to planet earth now lol. The euphoria has died down already. But seriously, read about it first, then ask me specific questions after. My next focus would be learning how to chart better, then brush up on the fundamental side again. It's a process but people here would probably learn in a year tops, I did it so how much more the guys here beating 200nl? Good luck. Read if you're interested. Ask me a specific question after because I will be very honest and basing it on experience.

whamm! technical analysis doesn't work. don't waste your time

^ Yes. What he said.

On September 25 2015 16:49 whamm! wrote: I do have smallish capital, and the smaller it is, the easier to grow, albeit risk is also there. Portfolios are fine but if you only got 10k usd to play with it's retarded to have a "balanced" portfolio lol. These things taught in finance school are based on the premise that you will be working for a hedge fund or broker with a ton of funds. Having 10million dollars and growing it 10% in a year is fantastic in itself. Handling a billion dollars and making 3% is probably a nightmare if you are into investing and compounding then cost averaging is the safest bet. its also great if you just want to grow your money by yourself each month without paying someone to do it. when markets turn to shit, no instrument is ever safe anyway

wat.

hmm.. not expecting any good outcomes for op from this. don't gamble more than you can afford to lose