New trader. Is my strategy ridiculous?

Quote from heech:
....there is *no* mathematical edge there (for the player). Period.
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Theoretically, the "edge" can be that the player WILL eventually win and collect his original, first bet. As you said, the maximum bet size diminishes that opportunity. :cool:
 
Quote from adadadog:
----Livermore's tragedy is that his success......
----People in drastic success level can not be friend....
----Michael Jackson.....
----True friendship can only exist between two compatible people. e.g. Steve Jobs vs Larry Ellison or Bill Gates vs. Warren Buffet.
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1) Livermore went from rags-to-riches-back-to-rags three or four times. He wasn't "successful".
2) How do you explain Frank Sinatra, Paul McCartney, Mick Jagger et al?
3) What about Jobs and Gates? :confused: :D
 
Quote from heech:
----Not that hard finding a high limit table. If you want to play that much, and assuming you can prove you are legit and aren't counting cards, casinos in Vegas absolutely will accommodate you.
----I limit myself to probably max loss of $2-3k a night at craps. The important thing is that I know the difference between when I'm investing for returns, and when I'm gambling for entertaining.)
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1) Baccarat may be "better" to avoid the appearance of card counting.
2) If you believe gambling is disadvantageous to the player, why would you play craps at all? :confused:
 
Quote from slouse:

I'm going to continue doing what I'm doing until something goes terribly wrong.
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Based on your description of your strategy I think this is exactly what will happen sooner or later. It sounds like you are gambling and that is a way to get poor, not rich. If you want to get rich, keep working, keep saving, conservatively invest what you have, set some $ aside (5-10%) and give it a go.
 
Quote from slouse:

I got a good laugh at the jokers on here.
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Looking in the mirror much, eh?

All jokes aside, I'm simply curious in what magical industry & boom town these amazing $200K+ earnings for early to mid 20s kids exist. Especially in these times.

Oh and your strategy is amateur. Limited gains + unlimited downside is a recipe for disaster.
 
Quote from Anaconda:

Looking in the mirror much, eh?

All jokes aside, I'm simply curious in what magical industry & boom town these amazing $200K+ earnings for early to mid 20s kids exist. Especially in these times.

Oh and your strategy is amateur. Limited gains + unlimited downside is a recipe for disaster.
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"Especially in these times". Not all of us live in the USA and we aren't "in these times".

If you must know the boomtown is Fort McMurray, AB and the magical industry is oil sands. It's more science than magic. Dirt to oil.

I am a control room operator at a refinery. I monitor and control process conditions from a distributed control system. $50 an hour, overtime is $100 an hour and there's all kinds of extras.

Some people are making $300k but they're working almost every day of the year.

I dunno what's so hard to believe about any of that.

Maybe some people just aren't money hungry enough to get high paying jobs? I've never made under $100k a year since I started working.

When I quoted the $250k I was just talking about wages, not counting stock options, stock savings plan, production bonuses, housing allowance, travel allowance.

Mid 20's kids? So what. We're all money hungry and extremely smart.
 
The fact that you are a fairly successfull trader and still ask people from bulletin boards for trading advice makes your strategy ridiculous.

Best regards

JJ
 
Quote from slouse:


Some people are making $300k but they're working almost every day of the year.

I dunno what's so hard to believe about any of that.
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For a higher end job in Fort Mac it's not hard to believe.

But it's not reality for the rest of the world.

Besides, isn't everybody up there on coke?
 
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