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Like in Slumdog Millionaire, brokers tip you the wrong answer on purpose
- Thread starter crgarcia
- Start date
I ain't buying.Quote from crgarcia:
In Slumdog Millionaire, when he gets to the bathroom, they place a decal with the wrong answer.
The contestant smells trouble and gives the opposite answer.
If he wins, the constest would lose, and viceversa.
So do brokers, they want you to lose money, so you pay more commissions.
Your premise is that the brokers usually know the profitable play, and if they had that kind of knowlege, they wouldn't be brokers, would they?
Those that can, trade; those that can't are brokers or professional "investment advisors".
One thing for sure they want yout to trade a lot. More and more. This is why they provide you with real time quotes and blackberry realt time.
Madoff used to be a market maker and an arbitrageur (lots of trades) and, well you already know what happened...Quote from bespoke:
God you're stupid. Who do you think makes more trades - losing traders or winning traders?
Do you think guys doing 10 million shares a month are losing or winning?
What happens when the money is gone in the accounts? Back to prospecting new accounts which is always fun, so I really doubt most brokers want clients to lose money. Now some brokers might do some unethical things to try in get clients to trade more and those brokers won't be around for ever.Quote from crgarcia:
In Slumdog Millionaire, when he gets to the bathroom, they place a decal with the wrong answer.
The contestant smells trouble and gives the opposite answer.
If he wins, the constest would lose, and viceversa.
So do brokers, they want you to lose money, so you pay more commissions.