billryan
billryan
Joined: Nov 2, 2009
  • Threads: 172
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February 15th, 2018 at 3:10:16 PM permalink
For a lot of people, it's a matter of a lot of small wins followed by one or two big losses and then they don't play anymore. I personally was a long time buy and hold guy, but since moving to Vegas put most of my money in managed accounts. I have little need to chase money or swing for the fences. Small risk and small reward is A-OK with me.
ZenKinG
ZenKinG
Joined: May 3, 2016
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February 15th, 2018 at 3:27:04 PM permalink
Quote: WatchMeWin

For those who play the stock options market as well, this may mean something. I play the options market very similar to the craps in 'hit n run' theory. Although there is more insight and knowledge that can be applied to stocks, the options are tricky and you have to be very quick on your toes and have ballz the size of king kong.

I buy options in many different ways. To hedge a long position, create option spreads, and yes, even naked options, which is where getting in and out is the way to go without getting too greedy. Just today I bought aapl 165 calls for this week expiration at .96 cents this morning. They just hit 3 bucks, so I tripled my money. I though long and hard about holding on to them for another couple days as I think aapl will continue to leg up with momentum and option holders will have to cover their calls..... but Ive done that in the past and it didnt work out so well... so these days, just as in craps, I hit n run and never look back. I may hold on to just a few just to have the action.



Good luck trying to beat the market with quick profits by day trading, swing trading, option trading, whatever. If you're not a big fish with inside information you're gonna eventually get roasted and lose it all. Get rich quick schemes only work for the ones who are already wealthy and have inside information. Bitcoin seems to be the obvious exception due to it being completely predictable, but it's still a game I'm not really wanting to get into at this point in my bankroll and the returns I want to make. Maybe if I get to around 80-100k i'd put 30k into it on a good buying dip. If somehow I'm wrong and bitcoin goes bust, which is very unlikely i'll still be at 70k. It's all about money management.

Patience leads to wealth. History shows us that. Problem is, everyone is in debt and looking for a get rich quick and have no patience. Before they know it they're 40 with no savings because they never 'started'. My advice to you is first get out of debt for any payments you have, especially before setting foot in any casino. Then find something that pays well to build a nice bank, but most importantly learn how to save and not live beyond your standards. Finally, invest in a booming sector index fund such as technology, which has destroyed the market in terms of returns for the past decade. I recommend VGT. You'll soon realize something called 'compound interest', which will be the best thing you will ever experience in your life.

Nonetheless you seem to have lots of gambling tendencies, which are gonna eventually make you go broke and working a minimum wage job the rest of your life with debt looming over your head if you don't wise up. I mean you honestly believe you can beat craps, that's almost an immediate red flag unless you're a dice control phenom, but for that go ahead and tell me your long term results if that's the case. Let me guess you're going to just pull a figure out of your head because you never wrote anything down? If you do that, that already tells me you're a losing player. Real pros keep logs and use logic. Gambler's guesstimate and go by hearsay
Last edited by: ZenKinG on Feb 15, 2018
Any private business open to the PUBLIC (ie. droned out casinos) cannot have a criminal trespass enforced against an individual without GOOD CAUSE (Disruptive or Disorderly conduct). You will never go to prison for being thrown out of a casino for legal advantage play and then returning because it's simply unconstitutional 'as applied' to the individual. 'As applied' constitutional issues must FIRST be raised in DISTRICT COURT (trial court) to have it thrown out. You CANNOT raise it on APPEAL This is the best kept secret in the world of casinos not just in Vegas but everywhere in the country. Thank me later.
WatchMeWin
WatchMeWin
Joined: May 20, 2011
  • Threads: 105
  • Posts: 1636
February 15th, 2018 at 5:24:49 PM permalink
Quote: ZenKinG

Good luck trying to beat the market with quick profits by day trading, swing trading, option trading, whatever. If you're not a big fish with inside information you're gonna eventually get roasted and lose it all. Get rich quick schemes only work for the ones who are already wealthy and have inside information. Bitcoin seems to be the obvious exception due to it being completely predictable, but it's still a game I'm not really wanting to get into at this point in my bankroll and the returns I want to make. Maybe if I get to around 80-100k i'd put 30k into it on a good buying dip. If somehow I'm wrong and bitcoin goes bust, which is very unlikely i'll still be at 70k. It's all about money management.

Patience leads to wealth. History shows us that. Problem is, everyone is in debt and looking for a get rich quick and have no patience. Before they know it they're 40 with no savings because they never 'started'. My advice to you is first get out of debt for any payments you have, especially before setting foot in any casino. Then find something that pays well to build a nice bank, but most importantly learn how to save and not live beyond your standards. Finally, invest in a booming sector index fund such as technology, which has destroyed the market in terms of returns for the past decade. I recommend VGT. You'll soon realize something called 'compound interest', which will be the best thing you will ever experience in your life.

Nonetheless you seem to have lots of gambling tendencies, which are gonna eventually make you go broke and working a minimum wage job the rest of your life with debt looming over your head if you don't wise up. I mean you honestly believe you can beat craps, that's almost an immediate red flag unless you're a dice control phenom, but for that go ahead and tell me your long term results if that's the case. Let me guess you're going to just pull a figure out of your head because you never wrote anything down? If you do that, that already tells me you're a losing player. Real pros keep logs and use logic. Gambler's guesstimate and go by hearsay



Thank you for your profound wisdom.
'Winners hit n run... Losers stick around'
RogerKint
RogerKint
Joined: Dec 5, 2011
  • Threads: 15
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Thanks for this post from:
ontariodealerodiousgambit
February 15th, 2018 at 6:01:24 PM permalink
Quote: WatchMeWin

Thank you for your profound wisdom.



WatchMeLose meets WatchMeWin
100% risk of ruin
djatc
djatc
Joined: Jan 15, 2013
  • Threads: 83
  • Posts: 4477
Thanks for this post from:
RogerKintbeachbumbabsmiplet
February 15th, 2018 at 6:43:14 PM permalink
Quote: RogerKint

WatchMeLose meets WatchMeWin



cousins of WatchMeWhip, and WatchMeNaenae
"Man Babes" #AxelFabulous
MaxPen
MaxPen
Joined: Feb 4, 2015
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  • Posts: 3634
February 15th, 2018 at 9:20:39 PM permalink
Thanks for making me spew my drink.
Nathan
Nathan
Joined: Sep 2, 2016
  • Threads: 65
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February 16th, 2018 at 3:29:10 AM permalink
Quote: WatchMeWin

.... n then Warren Buffett announces that apple is his number one pick and he is buying a lot more!



Didn't Forrest Gump become a multimillionaire buy buying stock in Apple computers because he liked fruits or something like that? :)
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
Lucca3927
Lucca3927
Joined: Aug 5, 2017
  • Threads: 17
  • Posts: 128
February 16th, 2018 at 12:19:33 PM permalink
I've been trading for years and trust me, it's beatable. Just play it slow and steady and don't go looking for the kill.

Don't be greedy and put your whole wad into one posistion. You can keep it conservative and sell covered calls or do dividend captures (look it up for those of you who don't know what it is).

Just consider the commission as the house vig.
"I should have bet black." - Winston Churchill .
SOOPOO
SOOPOO
Joined: Aug 8, 2010
  • Threads: 108
  • Posts: 6940
February 16th, 2018 at 12:23:18 PM permalink
Quote: Lucca3927

I've been trading for years and trust me, it's beatable.



Agree.... but by the few..... Just like most will fail at card counting, most will fail at stock/option trading. Not to be confused with stock buying and holding, which is easy and MOST succeed at.
Lucca3927
Lucca3927
Joined: Aug 5, 2017
  • Threads: 17
  • Posts: 128
February 16th, 2018 at 12:28:25 PM permalink
Quote: SOOPOO

Agree.... but by the few..... Just like most will fail at card counting, most will fail at stock/option trading. Not to be confused with stock buying and holding, which is easy and MOST succeed at.



Well I've been doing it for a long time so I must know what I'm talking about. So many people watch a movie like Trading Places (full of inaccuracies, by the way) and think it's easy. It's a real job, with real work, that needs years of experience and the ability to control your emotions.

I wish I could even count the number of times that I've been on the wrong side of a trade, but that's why you don't put your entire wad on one trade.

Tomorrow is another day.
"I should have bet black." - Winston Churchill .

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