Lots of talk here about an enviable 2 year rise from $10k to $80k, but the real story Phil told is easily overlooked: he took an $80k account to $0. That experience taught him to respect risk and transformed him into the respectable grinder we all know and love. He wants you to learn from his mistake so that your grind won't have to start at less than zero. Thanks Phil <3
Great article on Ex-Trader Phil lakk (pro poker player)
- Thread starter chaykapwr
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life is creating new and better. bill gates and microsoft have made people more productive. in $terms his customers have enrich their lives much more than gates has received. your view is typical of the sin of envy and assumes that the pie does not grow. also gates and winners use the maximum amount of their god given energy not the minimal amount. great rewards do not go to those who look for the easy path.
According to his Twitter account, he has been traveling and enjoying himself. The last poker related twit was 2 years ago:
https://twitter.com/realphillaak
Also, long discussion about him where he gets his money:
http://forumserver.twoplustwo.com/2...es-phil-laak-get-his-money-460333/index6.html
https://twitter.com/realphillaak
Also, long discussion about him where he gets his money:
http://forumserver.twoplustwo.com/2...es-phil-laak-get-his-money-460333/index6.html
What I said had nothing to do with money, i even said down to the minimal amount of energy. In other words, we wont make someone else happy unless we get some time of satisfaction out of it that we didnt have before.
Its just a fact that there is NO selfless acts. If Bill Gates goal was strictly to make the world more productive he wouldnt have marked up the sale price of Windows simply because he could. And yes, he is doing AMAZING things for the world right now but he is doing them for selfish reasons (because it makes him feel like he actually changed the world, or because he can sleep better at night or whatever reason)
I would find fault with this argument. Initially he had to have a big mark up to pay his costs. Later on, he had to maximize profits because of his shareholders. Even if Microsoft was entirely owned by Bill Gates, you can easily make the argument that the profit he is accruing is more productively invested by Gates and benefits society more than if the profits were instead spread out across the average man (as evidenced by Gates' extensive philanthropic work). I am not saying that Gates is completely selfless, but I believe you are being too hard on a good man and very productive member of society.
Look, this has nothing to do with Bill Gates. In fact, I really admired him, and I even have both of his books as well as a couple biographies.
My point was that there is NO act that is trully selfless. It just does not exist. Give me one example of a selfless act and I will admit im wrong.
Nearly impossible to make money in the stock market.
You see a stock that's rising, you buy some calls or whatever, it rises a little more, and then for no apparent reason it opens lower and now you have a loss and you have to decide to cut your losses or hold on. If you sell, it goes up and you're beating yourself up, but if you hold it keeps falling. That's why I quit the stock market in 2008 to focus on much more profitable endeavors like real estate and internet marketing. Selling options, however, can be really lucrative. The folks selling ebooks are making money, not the traders (except for a handful of people).
You see a stock that's rising, you buy some calls or whatever, it rises a little more, and then for no apparent reason it opens lower and now you have a loss and you have to decide to cut your losses or hold on. If you sell, it goes up and you're beating yourself up, but if you hold it keeps falling. That's why I quit the stock market in 2008 to focus on much more profitable endeavors like real estate and internet marketing. Selling options, however, can be really lucrative. The folks selling ebooks are making money, not the traders (except for a handful of people).
Wrong! I hate seeing people saying this crap on a trading site. Maybe you don't, but no one? Really? Been at it full time for 10 years, and years before, but I discount them as most any chimp could make money buying and selling a tech stock in those days. Unless you enjoy being the low man, you study and learn to grow to the next level. Too many people think trading means free money without work. Ridiculous!