RE: RE: RE: RE: Are you making money? jasonturbo,
The stock market is Vegas without rules.
Everybody knows someone who is "really lucky" at the casinos, right. Might be your Grandma, a friend, or a friend of a friend - but there is always that guy or gal that seems luckier than the rest of us. The facts are that they are not. The more you gamble - the more your winning percentage will come close to exactly matching the odds. And the odds are ALWAYS in favour of the house winning. So anyone who gambles often and plays against the house – loses.
Now some will argue that the Stock Market is more like Poker – where you’re not playing against the house, you’re playing against other players. That’s true. But what happens in poker when 8 players have 500 chips and 2 players have 1,000, 0000 chips? Not too often those players with 500 walk away with anything. The big stacks don’t play against each other, they just take all the 500 stacks chips and then walk away.
I used to work in a bar in Germany in the 80s. They had slot machines in the bar and the machines took coins in those days so the guys playing them would have to get the coins from the bar. On slow nights, I would be on alone, and there was one guy there every night getting very often 2-300 German Marks from me for the machines. He would sometimes win large sums as well, but most nights he would be buying marks from me 2-3 times and leaving empty handed after an hour or two. When he would win big - he would of course use half in the machines and then trade the rest in – sometimes he would walk out with 500 marks or more. And you can bet all his buddies at work heard about how much he won that night.
On week-ends - the bar would be much busier and lots of people would be playing the machines, and of course our man would be there pumping coins into the machines like no tomorrow. While most other patrons would play 20 marks worth, he would arrive early and toss up to 1000 marks in. And he would often get big wins to go along with the losses. Many times, other patrons would come up to me and ask "what is his secret, that guy is so lucky." He was not, but he got off on everyone thinking he was, and would greatly exaggerate his wins and understate his losses. But – even as an 18 year bartender - I knew the truth and it is a lesson that has stuck with me.
Like the guy that bets red because it just had 5 blacks in a row on roulette, wins and says "told you", there are going to be people that come on here and tell you what a great day trader they are and that they knew what was going to happen day to day – it was obvious. We know the truth.