Stock trading is pure gambling, enjoy!

[themickey]

Are you using etf to play crypto Mick??

Yup, cryp.ax, 'tis the one and only etf on the asx.
I can't trade direct crypto because of several complications, but namely the way my portfolio is setup and tax structured.

 

[themickey]

love that --

An Inability to Recognize Lack of Skill and Mistakes
Dunning suggests that deficits in skill and expertise create a two-pronged problem. First, these deficits cause people to perform poorly in the domain in which they are incompetent. Secondly, their erroneous and deficient knowledge makes them unable to recognize their mistakes.

Yeah, the psychology of humans is amazing.
One only need look at the diversity of opinions on politics & religion and how we humans are so adamant we are right. I mean I worry about myself.

 

[vanzandt]

Now cockroaches come in all shapes and sizes.
If you want odds in your favour, only trade the largest cockroaches, they have the best chance of consistently winning.

.

Is that why SportsbookOzDownUnder.com has Trump out front in 2024?

So, many gamblers trade on instinct, emotions, excitement, fantasy dreams, delusion, Hope, clueless.

.

That's why you need the power of prayer Mick. Try joining a church and see if your odds improve. The bigger your donation to the church, the better your odds in the market will be.

 

[themickey]

...............................................
Because Biden is the smaller and dopier cockroach of the two? Yup

...............................................
What a great idea! When you give to the church you are actually giving to God.
Instead of joining a church, create one.
Jesus why didn't I think of it earlier.

 

[vanzandt]

View attachment 334249
...............................................
Because Biden is the smaller and dopier cockroach of the two? Yup

View attachment 334250
...............................................
What a great idea! When you give to the church you are actually giving to God.
Instead of joining a church, create one.
Jesus why didn't I think of it earlier.

Build your church, put an apartment upstairs, and you'll never pay property taxes again.
And lets not forget the rake you'll get on Wednesday night bingo. The concession rake alone will cover your covert Friday night get-aways to the strip club in the next town over.

 

[Scataphagos]

Stock trading is pure gambling...

Hogwash!

In gambling the odds are against you and are fixed. There is nothing you can do to put the odds in your favor. (Card counting in black jack does not fall into the category of gambling... that's why casinos don't allow it if you get caught doing it.) To win in gambling, you DO have to "get lucky"... that is, prevail in spite of the odds being in favor of the house.

In the financial markets, you are supposed to win. There is almost always* a play that puts the odds in YOUR favor... you just need to figure out what it is. That's not gambling... that's knowledge and behavior.

What gambling and investing have in common is "risk of loss". What they do not have in common is "probability of loss"**.

*0DTE options included

** Goes waaaay up if you're stupid!

 

[SimpleMeLike]

If you want to trade stocks then be prepared to gamble.
Stock trading is the same as gambling on which cockroach will make you the most money as it scurries along the floor.

That's not to say you can't make money gambling, you can!
But gambling has many risks: The majority lose, the majority lose lots of money, Some make a small amount of money, 1% of gamblers are rich from gambling.

Now cockroaches come in all shapes and sizes.
If you want odds in your favour, only trade the largest cockroaches, they have the best chance of consistently winning.

But like gambling in its purest form, outsiders can hit the jackpot with spectacular returns, but these sorts of punts are irregular and infrequent, most outsiders lose.

The most succesful gamblers have a system, a mathmatical system where they know the odds beforehand, they have data on the field of past performance of previous cockroach races and have calculated the probabilities.

If a cockroach race is in action, those with a tailwind or sloping board will have the best odds, eg how strong is your sector and how tired is it? (overbought/underbought)

One of the problems with gamblers though, is most believe in bs, ie if the media are clamouring about some youbeaut stock, most likely it's bs and that cockroach is buggered atm.
The media will pump because (a) They are paid to pump out whatever comes into their head and expect it to garner most clicks (b) Media are biased (c) Media is deceptive (d) media just talking nonsense, don't know what they're talking about.

So, many gamblers trade on instinct, emotions, excitement, fantasy dreams, delusion, Hope, clueless.

Humans have a problems, we are very much Dunning Kruger, we have over estimation of our skills, we don't know what we don't know.
Dunning Kruger affects nearly all novice gambler traders.
It also affects uneducated gambler traders.

What's the solution?
Enjoy your gambling.
Treat it seriously but fun like you are accountable to a good boss who is watching you.
Educate yourself, never stop reading and inquiring and plotting your present or next system.
Don't kick yourself when you lose, unless that is, you were behaving like an idiot.

Remember, the smaller and younger the cockroach, the less chance it has of winning or surviving, but every now and again there will be a pleasant short term surprise.

Cockroaches which are a little bit like pack horses and team up,(think ETF's, Indexes, sectors) are less skitterish and easier to anticipate than young loners.

Hello themickey,

2024 is the best year EVER to be a trader in the futures market.

Trading the futures market is very very easy. Just do it.

 

[Frederick Foresight]

Stock trading is the same as gambling on which cockroach will make you the most money as it scurries along the floor.

I would suggest that crypto trading is, but whatever.

 

[themickey]

Hogwash!
In gambling the odds are against you and are fixed.

Playing card games, is that gambling? Any sort of card games.
Are the odds fixed and against you?

In the financial markets, you are supposed to win. There is almost always* a play that puts the odds in YOUR favor..

Hogwash!
In financial markets only the minority who are smart and systematic win over the long run, that leaves the majority to lose.

 

[themickey]

Trading the futures market is very very easy. Just do it.

You can't have a million players competing against each other where the majority win, it's impossible.
There is not one best anything.