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Capital deepening is an even greater reason. Automation has destroyed more manufacturing jobs than have been shipped overseas from the US. I'm even automating my trading, so I can go back to work doing other things.

Agree, this is P&R tripe, not anything to do with the objective study of either psychology or rationality. As far as I can tell, the OP's definition of "rationality" is licking Obama's bunghole. Uh, in that case, call me "irrational".

Clearly, posting in itself isn't going to cause you to lose money in a direct way. I'm saying that you are not using your time wisely. Every trading method has drawdowns, but if what you are experiencing seems like it is more than that, you should spend every possible minute you can fixing...

Hey man, just a thought. You've got 10 posts/day for the last 500 days. Let's say each post takes 30 seconds to write. That's 5 minutes per day for 500 days, which is 2500 minutes or over 40 hours. That time might have been better spent (or, more importantly, might be better spent over the...

Not having an exit strategy.

Thanks again for confirming that there is absolutely no point in talking politics with an Obama supporter. I somehow doubt that the passage of "BushCare" would have caused Lefties to celebrate in the streets like they did when ObamaCare was passed. I doubt Bush would have passed Dodd-Frank if...

It does seem to me to be "wrong" in a philosophical and logical sense to declare that simply by being alive one is "entitled" to something. I think the entire premise that anyone is entitled to anything is metaphysically incorrect. In fact, I take it as axiomatic that no one is entitled to...

Makes sense because I just read that the storm surge is projected to be higher than they thought a few hours ago.

Thanks for the chuckle. I've actually worked as a consultant for some of the most prestigious consulting firms on the planet, as well as working as an internal consultant for two of the best-known companies in the world, so I'm putting the odds that you are a better consultant than I am at about...

No, I don't see any point in unifying people with extreme differences. To what end? Just to say you can? There are certain eras in which the primary forces driving society are centripetal and certain eras when they are centrifugal. The 19th and 20th centuries were centripetal, resulting in...

I don't have the exact words in front of me, but someone said shortly after Obama was elected "The republic can survive an Obama, but it will have a harder time surviving the kind of citizens who support Obama". I've said it before and I'll say it again, we need to split off from these people...

If he doesn't control his own destiny, who does? Is control over it allocated to every other person on the planet on a proportional basis, so that each of us has 1/7,000,000,000th of it? The easier calculation, so to speak, for apportioning control is to just let each individual decide. If...

Hedgers don't mind losing because they budget for it beforehand. For them, their trading losses are akin to the insurance premium a good driver pays for auto insurance. Bad speculators, on the other hand, do mind losing. Some of them mind it enough to eventually become good speculators. The...

I once read an article that said "If you have positive expectancy, with leverage you can make any return you like, as long as you are willing to endure the associated drawdown". That's why trading accounts should be funded with money that you can afford to lose 100% of. That way, when you...

I've been coming around to the conclusion that the endgame is going to be something like the owners of the robots being forced to provide a guaranteed annual income to the masses of labor-sellers who can't sell their labor in a world where robots are massively more capable than the average...

The GOP holds more seats in state legislatures and more governorships than at any time in nearly 100 years. So, if you are trying to make them disappear, you need to work harder. In point of fact, the ability to generate cheap energy coming from all of the new natural gas resources will...

gmst, don't listen to the naysayers, but be careful not to prove Gordon Gekko's old adage "A fool and his money were lucky to get together in the first place".

Be nice to write off expenses, too. Also, say I have a year with large losses, I can deduct them immediately, rather than at $3K/year on a 1040, and use that deduction to get back taxes paid previously.

Thanks to you and others for the replies. So, basically, setting up a multi-person LLC (the guy I spoke with said DON'T us a single-person LLC because they are disregarded entities for trading purposes, so you can't legitimately use "trader" status within them) is a turnkey process? Which...

Good question. Just my own.