WRXtranceformed Wrote:I would honestly rather play blackjack at a casino than play the short term ups and downs of the market for profit. Your odds and earning potential are probably about the same, and as long as you cash out less than $10K at a time you don't have to report it for taxes.
Unless you are really good at counting cards, you can't research which card is going to come next.
It's obvious you don't like thinking about finances, cause you pay someone else to do it! 
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
Apoc Wrote:WRXtranceformed Wrote:I would honestly rather play blackjack at a casino than play the short term ups and downs of the market for profit. Your odds and earning potential are probably about the same, and as long as you cash out less than $10K at a time you don't have to report it for taxes.
Unless you are really good at counting cards, you can't research which card is going to come next. +1 Never been even remotely attracted to gambling, but I have zero problem playing in the market.
Apoc Wrote:WRXtranceformed Wrote:I would honestly rather play blackjack at a casino than play the short term ups and downs of the market for profit. Your odds and earning potential are probably about the same, and as long as you cash out less than $10K at a time you don't have to report it for taxes.
Unless you are really good at counting cards, you can't research which card is going to come next.
It's obvious you don't like thinking about finances, cause you pay someone else to do it! Research all you want, but unless you're an insider you also can't predict the next AIG fallout, NVR bankruptcy or Enron collapse
My roth 401K alone is up 22.68% YOY thanks to the free advice I got as an add-on to the plan my brother and his team built for me.
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Dave Wrote:Apoc Wrote:WRXtranceformed Wrote:I would honestly rather play blackjack at a casino than play the short term ups and downs of the market for profit. Your odds and earning potential are probably about the same, and as long as you cash out less than $10K at a time you don't have to report it for taxes.
Unless you are really good at counting cards, you can't research which card is going to come next. +1 Never been even remotely attracted to gambling, but I have zero problem playing in the market. Why not? Conceptually day trading is the same thing. If you're willing to get aggressive at the betting you can make more at the blackjack table in two hours than you can make in months day trading.
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Who said anything about day trading?
Somewhere in the chasm between having a financial advisor and the day trading of the movies is playing the market intelligently.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
comparing trading to gambling is just ignorant.
maybe you could make a case for it being like sports betting. its a stretch, but you could make a case.
WRXtranceformed Wrote:Why not? Conceptually day trading is the same thing. If you're willing to get aggressive at the betting you can make more at the blackjack table in two hours than you can make in months day trading. The stock market and gambling are similar, it's just that they have very different levels of risk and the stock market is typically based on some good or service that has fundamental value whereas gambling does not. Some segments of the stock market are very close to gambling, especially when you start talking derivatives.
Blackjack vs playing the stock market short term? I guess blackjack is more fun but I wouldn't risk very much money doing either.
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when a roulette table has support and resistance, when craps has candlestick charts and chart patterns, then compare gambling to trading.
Poker comes the closest, since you are playing against other people and strategy and probabilities come into play but they are still very very different
If I was looking for short term gains with some play money, personally I would rather gamble. If you take the time to learn and study the game you are playing, in almost every case the odds are pretty black and white. I like the poker analogy because it combines both the understand of odds and an understanding of your opponent. I personally suck at poker, which is why I like blackjack.
I guess I look at the market differently than some of you guys. I look at it solely as a piece of a long term investment puzzle and have tried to structure most of my investments in it through tax-free income vehicles. That is the biggest downside to long term or short term market investment...the govt is taking a large chunk of your "winnings"....especially when you are talking about big numbers.
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The comparison irks me, but the end result you are probably right, in fact for a newbi gambling might actually be better odds.
To really get any short term gains in the stock market, you have to day trade, and play with large sums of money and higher risk vehicles like options.
Thats the deep end of the pool where the skarks swim and it takes lots of learnin' to get good at those. So if youre going into it as a n00b with no skills or trading education, you are probably very much on the wrong end of 50% winning trade rate.
the problem with gambling though, is that you lose all your money that you bet, where with trading you can always set stops.
maybe the moral of the story is nobody should go for short term easy money gains :p
unless you're selling meth.
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Lee - check your PM's
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
WRXtranceformed Wrote:If I was looking for short term gains with some play money...
I don't think anyone in here is. Rather, long term gains by making medium term plays. At least, I am.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
.RJ Wrote:Lee - check your PM's PMed you back 
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Apoc Wrote:WRXtranceformed Wrote:If I was looking for short term gains with some play money...
I don't think anyone in here is. Rather, long term gains by making medium term plays. At least, I am. I day traded for a while. Made some good money, lost some good money. Ultimately it just took too much time so I stopped. I like trading a LOT more than I like investing, so Ill probably hand off my finances to a professional sometime soon.
We should all be celebrating right now right? Congrats, overnight you are a little poorer.
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Overnight.... oooooh!
GW's tenure:
DJIA -25%, NASDAQ -48%, S&P500, -40%.
Obama's tenure:
DJIA +65%, NASDAQ +106%, S&P500 +77%.
Spin that for me.
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No longer onyachin.
Mike Wrote:Overnight.... oooooh!
GW's tenure:
DJIA -25%, NASDAQ -48%, S&P500, -40%.
Obama's tenure:
DJIA +65%, NASDAQ +106%, S&P500 +77%.
Spin that for me. That was a byproduct of the housing market collapse, internet bubble, Sept.11 and subsequent recession no? Some of which had been building for a REALLY long time and some of which he had absolutely no control over as it happened right after he entered office (I was not a GW supporter btw)
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dont take the trollbait Lee.
Evan Wrote:dont take the trollbait Lee. MM Troll loves to use open-ended statistics bait
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