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Go to school: learn something new. Meet some educated people. Some are still boring, but they are less likely to be boring than uneducated people. Fix a problem in the world that no one else is funding, a la Bill Gates. Or even a small, local problem. Tutor kids, prisoners, illiterate people...

EsKiller is wise. Think creatively about different, independent ways to earn money. Do something every day to move you closer to your goal of independence, even if only for 10 minutes.

OK, thank you. That is really interesting.

I'd suggest trying to define your rules a little more tightly. Re-examine and re-test why you think your system will work, using an array of different rules for selling. Although some stocks are simply in an industry that is in a downturn and will ultimately recover, some stocks will never...

Hi Chef, here's a place to start http://mebfaber.com/2012/03/05/how-to-get-to-20-or-extensions-to-qtaa/

Probably best data is Mebane Faber's papers, covering more than a century.

Um, because it works. I have not studied day trading specifically (I'm more of a week or month trader), but in any longer time frame, buying new highs just works, if you do it consistently.

Someone please explain to me why this company even exists.

It's a question of volatility. Since the S&P is volatile, older people who may need to make some withdrawals may be better off with a mixture. And advisers know that if there is too much rock and roll, their clients will not stay the course or will find a new adviser. As you know, all the stock...

Have a plan

19%. Worst DD 2%.

If you go back over time, look at longer-term Treasuries and the S&P 500, and use the Kelly criterion, you'll see that 60/40 is about where you end up as an optimal allocation. That's probably why so many of those funds exist. When I get a question from someone who knows zero about trading or...

Thank you; I never knew before who said that. Same as 'when the student is ready, the teacher appears.'

Is it possible everyone who has sought the presidency in this century (maybe not all of those who had it thrust upon them) is simply a glutton for power? Why would a psychologically normal person want the job? There is literally no amount they could pay me to do that. It's a thankless job...

It's not that easy for these people to move. You need at least gas money and first month's rent, and some cannot scrape that together.

Alex, do you refer to the broker being unable to execute trades within the day? I'm not a day trader (I'm more like a week trader or a month trader), so that is not a big concern to me. I mostly worry about the whole place going under and having >$500K there. BTW, I must tell you that I...

that is good to hear, because I have the same question and have a lot of money in my IB accounts

Actually, I think 60% is pretty good, because it is not a 50-50 chance that you'll hire a good employee. Most people are shitty employees. They do not know how to keep at a problem until they solve it, do not know when to stop and ask versus when to move ahead, and they want to give as little as...

There is now a fun book out about living in cars/campers. It is a great slice of life that contains a lot of interesting stories. I have no financial interest in it: Nomadland: Surviving America in the Twenty-First Century 1st Edition by Jessica Bruder (Author) Not sure why I have a...

Welcome to trading. Yes, it's a lonely pursuit. Even when you become accomplished and the money starts rolling in and your friends see you quitting your job and spending it, they still won't believe it. I've got 3 things for you to consider: 1. Keep in mind that trading is essentially a...