what do you say when people ask you for tips/advice?
- Thread starter Gordon Gekko
- Start date
it seems like most people are more interested in being right than making $.....so when they ask for tips....so many of them are just wanting to tell everyone what they're doing or did......so I usually just say, "good luck".....at least this is how it was in the bull run.....now those people are usually too embarrassed to bring up anything to do with the market.
I just tell them that my average timeframe for a trade is under 20 minutes and that I have no idea what the market will do overall, which is true and took me a long time to truly believe myself.
I've given out too many tips that turned out bad and it can hurt a friendship, even when it's your friends fault for not knowing how or when to take a loss. That's the part of giving advice you have to remember, the average joe doesn't know that you assume he'll just get out with a loss if you're wrong, he'll ride it all the way down, becoming more bitter along the way.
That's the one piece of advice I will give, if you are going to invest or trade, always determine ahead of time where you will get out with a loss if you are wrong.
Corey
I've given out too many tips that turned out bad and it can hurt a friendship, even when it's your friends fault for not knowing how or when to take a loss. That's the part of giving advice you have to remember, the average joe doesn't know that you assume he'll just get out with a loss if you're wrong, he'll ride it all the way down, becoming more bitter along the way.
That's the one piece of advice I will give, if you are going to invest or trade, always determine ahead of time where you will get out with a loss if you are wrong.
Corey
That is the best advice I think you could give anyone. Nice post.
lol that's a good one! however, i am totally turning the corner and i know it..i am seriously so happy. i'm trading real small for a few months and then i plan on dumping another 20k into my account.
I tell them I'm a DAY trader and that my timeframe is often only a few minutes and I never know in advance what I'll be buying or selling or when I'll be doing it.
I say, "I could call you when I buy something, but by the time you buy it, it would be me selling it to you, closing my position."
I say, "I could call you when I buy something, but by the time you buy it, it would be me selling it to you, closing my position."
bill thickness = .0043 inches
10000 x .0043 = 43 inches
43/12
3.58 feet
HAHAHAHAHA
bill thickness = .0043 inches
10000 x .0043 = 43 inches
43/12
3.58 feet
p.s. JWKirkland, didn't see your post til after i put mine, sorry.
hehe nice trick, i saw that!
