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Finally found a mountain to start my fastlane journey, Stocks

A detailed account of a Fastlane process...

Soulrize

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I start this thread because after years of on and off commitment to investing in the stock market through day trades I have come to the realization I will use this method In order to start my journey. My experience in the market is very long (8 yrs + on and off) and with the advent of Robinhood(stock trading platform for smartphones) where there is no commissions and has pattern day trader alerts so I don't get flagged . This has been my problems for YEARS. With these main problems off my shoulders, I've been recently focused on just making money . I'll post my own capital amount and the % currently gained on it. I believe everyone has their aptitudes and it's no doubt for me that I see a good start off the ground through the markets.

Current goal : capital gains of 300% on the money I invested for myself by this time next year 02/11/2016

Current status: Invested $2,000 %earned:25%

Disclaimer: I have a lot of philosophies and they have worked for me as I etched them in my soul from my very own experience and not from any other books and what not. Other words there not "conventional".

Problems I've had faced in the past:
* was mismanaging money (spending every dollar earned) and starting from scratch for the 4th time.
*trying the manage other people's money, however, there was a conflict of interest as the lines were not clearly drawn out on how profits were to be split or how losses would be handled.
*Day trade calls and preventing becoming a "pattern day trader" which prevents me from buying and selling a stock on the same day which for me is a huge loss of control as I live hours at a time and prevents a lot of losses from occurring.
*being entrusted with capital from family only to let my opportunity to be squandered by spending it all selfishly on whatever desire I had in the moment.

Current solutions this time:
*Keep me accountable through this thread and just letting the outside world(person and the internet) know what's going on with my balance.
*I decided I'm not mature enough to handle other people's monies for them because I myself am learning to be professional with my own money however I will take in zero to very low-interest loans from friends and family to increase the $ rate of return on my account as I consider it my own money and I really do take care of my own money more than I believe anyone else would . It also keeps nonsense to a minimal as I just focus on the stocks I choose and no emotions, feelings, worries, or any other communications that are required when handling monies of others.
*Robinhood the app has in itself removed this by having a prevention and lots of notifications .
*So since my reputation within my family is I mismanage money (very different from losing money) is that I'm a high risk to give money to. In this regard, I pled and just wouldn't give in because I believe in myself this time around I will not stop until I meet my own goals one year at a time. I'll give my login and whatever it takes to get a loan and with careful and a lot of heart I got a loan of $1,000, sure its not the max I can borrow which is 6k but ITS BETTER THAN 0! And forward looking as I am If I can prove myself for at least 6-9 months that I am responsible and profitable that I can afford to have a greater loan given to me to be used as capital in the future.

So with this I'm glad to finally be apart of the EXECUTION TREAD ! and hope yall all keep tabs and supportive motivation throughout this long journey (years seem like a lifetime to me)

If I face problems that deal with money management ( I KNOW I WILL) I will ask this forum so please stick with me to help as I really appreciate everyone who contributes to this forum and has worked hard to learn their own fair share of knowledge .
 
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devine

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Correct me if I'm wrong:
- You have no money, no money management skills, have a reputation of money waster and want to manage someone else's money?
I'm not going to make it sound, but we both know how it's gonna be.

btw, on your photo you stand in front of a car you cannot afford, which says a lot to me personally.
Sidewalkers never change.
 

Soulrize

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Correct me if I'm wrong:
- You have no money, no money management skills, have a reputation of money waster and want to manage someone else's money?
I'm not going to make it sound, but we both know how it's gonna be.

btw, on your photo you stand in front of a car you cannot afford, which says a lot to me personally.
Sidewalkers never change.

I put under the solutions that I don't want to manage other people money but would rather make my own though my own money as it keeps me in control and focused.

The photo is an image, and say what you will people will judge you on your image. If you ask about it I'm not gonna lie its not my car, I have nothing to gain but what's the hurt in a nice photo?
 

devine

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I put under the solutions that I don't want to manage other people money but would rather make my own though my own money as it keeps me in control and focused.

The photo is an image, and say what you will people will judge you on your image. If you ask about it I'm not gonna lie its not my car, I have nothing to gain but what's the hurt in a nice photo?
As long as it's not your cash, you're risking resources that aren't yours. Easy loss. People lose bank's money easily, imagine how easily you'll lose cash handed to you by your family.

That's exactly the point and the problem. This is a social proof kind of photo, in case you don't own the car it illustrates the mentality: the preference of seeming "successful" instead of being successful.
It only means that you're not willing to walk the walk and incapable of grinding when it's required.

Now, don't feel like I'm being too negative and overreacting, I'm kindly suggesting you to reconsider what you're about to do, and start with something safer and more long-run oriented, because stocks won't make you rich, neither they will help you acquire any valuable skillset to create wealth.
 
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vitality11

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From what I know, you use stocks to apply compounding (8th wonder of the world) to your wealth.
However, stocks themselves make for a poor choice to have Exploding Wealth.
I think 2k is too low to be properly diversified and to enjoy the benefits of compounding.
I've spend a lot of time learning about stocks and one of the main principles is that you don't rely on it to feed you.
In either case, look forward to your progress on this journey.

@devine PRIVET!
 

AgainstAllOdds

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Let's run through the math:

You start with $2,000.

And claim to get a 25% return.

Therefore, in 20 years, you will have a whopping: 2000*1.25^20 =

$173,472.348!!!

Or $8,673.62 per year!!

Not to knock you down a peg, but you're not going to get close to 25% returns. If you believe that, then you shouldn't pursue stocks altogether. And if you can get 25% returns, then you should start by creating a greater investment base. $2,000 will get you nowhere.
 
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StartupMonkey

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Let's run through the math:

You start with $2,000.

And claim to get a 25% return.

Therefore, in 20 years, you will have a whopping: 2000*1.25^20 =

$173,472.348!!!

Or $8,673.62 per year!!

Not to knock you down a peg, but you're not going to get close to 25% returns. If you believe that, then you shouldn't pursue stocks altogether. And if you can get 25% returns, then you should start by creating a greater investment base. $2,000 will get you nowhere.

Summed.
 

Scot

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If you want to be fastlane, create a better version of Robinhood.

You answered your own question by pointing out the pain points of day trading.
 

Soulrize

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Let's run through the math:

You start with $2,000.

And claim to get a 25% return.

Therefore, in 20 years, you will have a whopping: 2000*1.25^20 =

$173,472.348!!!

Or $8,673.62 per year!!

Not to knock you down a peg, but you're not going to get close to 25% returns. If you believe that, then you shouldn't pursue stocks altogether. And if you can get 25% returns, then you should start by creating a greater investment base. $2,000 will get you nowhere.

There is the assumption of a yearly rate of return when the 25% i'm talking about was made in 2 weeks. I'm not saying that's not uncommon to me but the long term it averages out probably. and I am obtaining more capital in the future, in the meantime I focus on what I can do which is building my reputation through results.

@devine Its true I had a history of talking the talk without walking the walk(picture is 2 years old) and at this point in my life I'd rather be successful in reality than in image because there our other desires I need capital (my own preferably) to start other business. This is just a mean to build capital and not a mean to an end.
 
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B V Marlon

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Am I right in thinking you've made 25% on the $2000 you've started with so far? If so, that's quite impressive. However, isn't day trading so risky that you stand to lose that 25% and more if you have a run of bad luck?

Also, don't most people lose on day trading, including the professionals? From what I can gather, to trade successfully you need to look longer term and have the appropriate hedges in place.

I reckon you'd be better off investing your money in buying stuff of Craigslist and flipping it for a profit, if making more money to start other ventures is what you're trying to do.

You might want to have a look at this thread:
https://www.thefastlaneforum.com/co...-to-buying-and-selling-anything-part-1.35889/
 

AgainstAllOdds

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There is the assumption of a yearly rate of return when the 25% i'm talking about was made in 2 weeks. I'm not saying that's not uncommon to me but the long term it averages out probably.

In that case go all in.

End of first year, you'll be worth $661,744. In three years you'll be worth $72,445,432,630.60 -- and THE RICHEST PERSON IN THE WORLD!!! F*ck Yeah!!

... or back to zero since you fail to understand how you can't average 25% returns every 2 weeks.
 

G-Man

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In that case go all in.

End of first year, you'll be worth $661,744. In three years you'll be worth $72,445,432,630.60 -- and THE RICHEST PERSON IN THE WORLD!!! F*ck Yeah!!

... or back to zero since you fail to understand how you can't average 25% returns every 2 weeks.

Everyone knows only gains compound. That never happens with losses.
 
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G-Man

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19 yr old me lost an entire summer's worth of backbreaking construction wages because he got lucky and popped about 15% in his first couple months. He then mistook his luck for skill and proceeded to double down on every terrible trading idea he had for the rest of the semester until he had to call dad to have enough gas money to drive home for Christmas break.

Those were the good old days.
 

fhs8

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It's so simple but what people don't get is that there's randomness to the stock market just like there's randomness to baccarat. You think that you know how to trade because you just gained 25% in 2 weeks? Are you that stupid?

HFT firms are employing custom microwave beams through the air because it's nanoseconds faster than optical fiber (photons only go speed of light in a vacuum not cable). They buy commercial space right next door to exchanges and fill it with computer racks. They take advantage of rebates and even get PAID money by the exchanges to place trades which increase liquidity. On average HFT makes fractions of a cent on each trade. You think that there's such a market imbalance that you can gain even 1% a week? If you're paying more than 1 penny to place a trade (Scottrade charges $7.00 for example) then you're gambling because there's no way you can win over the long term.

http://www.reuters.com/article/us-highfrequency-microwave-idUSBRE9400L920130501
 

Soulrize

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End of the week update.
Investment capital still 2000, Earned amount is now at 24%.

For the first time I wrote down my cardinal rules for trading as my losses were from poor risk management along with just flat out speculation.
I have a visual now for these simple rules I won't break. I will follow them for all future trades to come .
 
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fhs8

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End of the week update.
Investment capital still 2000, Earned amount is now at 24%.

For the first time I wrote down my cardinal rules for trading as my losses were from poor risk management along with just flat out speculation.
I have a visual now for these simple rules I won't break. I will follow them for all future trades to come .

How much are you paying per trade? If it's $7.00 for example it's $14.00 round trip which is 0.7% of your account. Your trading loses were from randomness and math not poor risk management.
 

Andy Black

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19 yr old me lost an entire summer's worth of backbreaking construction wages because he got lucky and popped about 15% in his first couple months. He then mistook his luck for skill and proceeded to double down on every terrible trading idea he had for the rest of the semester until he had to call dad to have enough gas money to drive home for Christmas break.

Those were the good old days.
Haha. Nice story.

I mention this in thread "The allure of easy money".

If your fundamentals are wrong then the worst that can happen is you start making money, and then dig a deeper hole in the wrong place.



Some lines I mention every now and then (typically when people are overly enamoured with tools and automation):


"If you're digging a hole in the wrong place and then bring in a bigger digger, you just end up with a bigger hole in the wrong place."


"The first thing you need to do when you realise you're digging a hole, is to stop digging."
 

MJ DeMarco

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Oh boy here we go, another 20-something's gonna crash-and-burn because he got lucky making 25% in a few weeks.

He thought the same thing:
https://www.thefastlaneforum.com/co...ading-5k-how-to-lose-most-of-your-cash.59988/

As did a few others here who mysteriously disappeared along with their bankroll.

BTW, my very FIRST trade in the market (I think I was 22) made me like 30% in just a few short days.

I got hooked. Thought I was going to turn into the next Gekko and get rich.

In a few short months, I lost most of my bankroll. The bottomline I got lucky and translated randomness into "I know what I'm doing."

Not to be superstitious, but the market loves newbies -- and there's a reason why virgin traders always seem to make a few bucks when they first start.

Don't be fooled -- you're being gamed.

But by all means, please continue to update this thread and share your war stories -- I just hope you update us with the BAD as well as the GOOD.
 
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Perrots

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If becoming rich off the stock market were easy everyone would do it. Now nothing is impossible, maybe start by reading some books, educating yourself on the market, if you want to dabble, dont dabble with all the money you have. Good luck, In for updates.
 
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G-Man

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I got hooked. Thought I was going to turn into the next Gekko and get rich.

In a few short months, I lost most of my bankroll. The bottomline I got lucky and translated randomness into "I know what I'm doing."

Not to be superstitious, but the market loves newbies -- and there's a reason why virgin traders always seem to make a few bucks when they first start.


This. I'm embarrassed to admit that I'm so stupid I had to learn that hard lesson TWICE. Lost my bankroll at 19 and again at 23.

Since then, in my relatively short professional career, I've witnessed shadyness in loan initiation by lending institutions and publicly traded corporations using rat-hole 3rd parties to conceal the sources of goods. I don't think I'll ever be able to approach the stock market again. None of those financials are worth the paper they're written on.
 

Soulrize

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Oh boy here we go, another 20-something's gonna crash-and-burn because he got lucky making 25% in a few weeks.

He thought the same thing:
https://www.thefastlaneforum.com/co...ading-5k-how-to-lose-most-of-your-cash.59988/

As did a few others here who mysteriously disappeared along with their bankroll.

BTW, my very FIRST trade in the market (I think I was 22) made me like 30% in just a few short days.

I got hooked. Thought I was going to turn into the next Gekko and get rich.

In a few short months, I lost most of my bankroll. The bottomline I got lucky and translated randomness into "I know what I'm doing."

Not to be superstitious, but the market loves newbies -- and there's a reason why virgin traders always seem to make a few bucks when they first start.

Don't be fooled -- you're being gamed.

But by all means, please continue to update this thread and share your war stories -- I just hope you update us with the BAD as well as the GOOD.

Thank you for the realism because being the optimist I do want to leave out the BAD haha. Well, the bad this weeks is in two parts that in that my % profit came down to 11% on Tuesday along with being marked a Pattern day trader . The good is that I secured a friendly loan of 2,000 at 25 dollars interest per month to be paid back in the end of may 2017. The bad is that I'm lending my total principal balance that is now 4,000 to my best friend because he's trying to hold onto ownership of his app until he can sell his house within a few months. So as of now execution is on hold and I'll be focusing on selling my extra car among other things to collect capital.
 
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Pete799p

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Did the same thing in College. Started with close to $10k and began trading options. Did what I considered to be amazing, about 20% in 6 months, but came to the realization that I lacked sufficient capital to make a reasonable rate of return for time invested.

Left the trading game for a business opportunity so I could build the appropriate bankroll.

Wish I had kept trading even though the cash produced would have been nominal as the extra years of market experience would have been valuable so by all means get started trading and keep at it but I would shift your focus towards the development of a consistently profitable strategy that is competitive vs. market returns in lieu of trying to become a millionaire overnight.
 

Soulrize

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its been a long update and as I've been jumping around business ideas, I began to understand that without a commitment to any business it is not profitable (but I did learn a lot researching) while I'm in college on my way to finish up my last year(may 2018). I've been fighting it with one hand behind however here's an update on stocks, Began journaling a month back, Been sticking to it everyday along with researching whether I have capital available to invest or not, Tested options and lost a good chunk of my account due to low liquidity (and no knowing what i was doing at first) and learned its not the avenue I'm looking for unless I'm looking to buy larger market cap stocks where most of the liquidity is located. Along with this, I've added discipline, and while I can't say its super exciting, I been pretty consistent so far breaking even. Also been disciplined to start putting my extra income from work into it (about 40%) of it and not going out. Its been a win win since drinking affects my research and decision making and I been far better focusing on stocks.
 

fastbo

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Bro you being up 25% over a couple weeks is like being $1000 up at a casino at 2am. By 8am you've lost it all and overdrawn your credit card by another $1,000

Warren Buffet has a 50 year track record of 21.6% annualized returns and he's one of the greatest stock market investors in history. Yet in 2 weeks you've decimated his track record, and will do 12x better (300%) consistently.

You need to have a reality check... the people making millions day trading are people who have multi million dollar accounts. They're taking 1/8 of a dollar over white knuckle $500,000 trades and doing it over and over. And the ones making money are the outliers.

The stock market is a zero sum game. Every dollar made is taken from someone else. The only reason it keeps growing is because of population growth and the retirement scam. Actually, it's less than zero sum. Like like the house in poker, the institutional players (brokerages, hedge funds, mutual funds, etc) all take their cut, so the total amount in play is less than zero sum. You're no better off playing poker than day trading. Remember, there are plenty of professional poker players... the outliers... same as the millionaire day traders.



I start this thread because after years of on and off commitment to investing in the stock market through day trades I have come to the realization I will use this method In order to start my journey. My experience in the market is very long (8 yrs + on and off) and with the advent of Robinhood(stock trading platform for smartphones) where there is no commissions and has pattern day trader alerts so I don't get flagged . This has been my problems for YEARS. With these main problems off my shoulders, I've been recently focused on just making money . I'll post my own capital amount and the % currently gained on it. I believe everyone has their aptitudes and it's no doubt for me that I see a good start off the ground through the markets.

Current goal : capital gains of 300% on the money I invested for myself by this time next year 02/11/2016

Current status: Invested $2,000 %earned:25%

Disclaimer: I have a lot of philosophies and they have worked for me as I etched them in my soul from my very own experience and not from any other books and what not. Other words there not "conventional".

Problems I've had faced in the past:
* was mismanaging money (spending every dollar earned) and starting from scratch for the 4th time.
*trying the manage other people's money, however, there was a conflict of interest as the lines were not clearly drawn out on how profits were to be split or how losses would be handled.
*Day trade calls and preventing becoming a "pattern day trader" which prevents me from buying and selling a stock on the same day which for me is a huge loss of control as I live hours at a time and prevents a lot of losses from occurring.
*being entrusted with capital from family only to let my opportunity to be squandered by spending it all selfishly on whatever desire I had in the moment.

Current solutions this time:
*Keep me accountable through this thread and just letting the outside world(person and the internet) know what's going on with my balance.
*I decided I'm not mature enough to handle other people's monies for them because I myself am learning to be professional with my own money however I will take in zero to very low-interest loans from friends and family to increase the $ rate of return on my account as I consider it my own money and I really do take care of my own money more than I believe anyone else would . It also keeps nonsense to a minimal as I just focus on the stocks I choose and no emotions, feelings, worries, or any other communications that are required when handling monies of others.
*Robinhood the app has in itself removed this by having a prevention and lots of notifications .
*So since my reputation within my family is I mismanage money (very different from losing money) is that I'm a high risk to give money to. In this regard, I pled and just wouldn't give in because I believe in myself this time around I will not stop until I meet my own goals one year at a time. I'll give my login and whatever it takes to get a loan and with careful and a lot of heart I got a loan of $1,000, sure its not the max I can borrow which is 6k but ITS BETTER THAN 0! And forward looking as I am If I can prove myself for at least 6-9 months that I am responsible and profitable that I can afford to have a greater loan given to me to be used as capital in the future.

So with this I'm glad to finally be apart of the EXECUTION TREAD ! and hope yall all keep tabs and supportive motivation throughout this long journey (years seem like a lifetime to me)

If I face problems that deal with money management ( I KNOW I WILL) I will ask this forum so please stick with me to help as I really appreciate everyone who contributes to this forum and has worked hard to learn their own fair share of knowledge .
 
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SquatchMan

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You've been here for almost three years and you're currently daytrading with 2k in a Robinhood account while working a minimum wage job...

Come on man.

Day trading doesn't work, at least it doesn't with the tools you have available.

However, you have all the tools/knowledge to make a profitable business on this forum (Gold/Notable/INSIDERS).

A few clicks away.

You could probably start making money by the end of the week on Upwork if you really worked hard at it.
 
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Soulrize

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Frist I'd like to say thanks to @jpmartin for the awareness on how to handle the psychological aspect I've struggled with and tried to ignore for a long time
So far ever since I've split my investments into a portion of my portfolio, I've been impartial to my stocks when it went up. And focused on testing to see If swing trading is actually more profitable, I have a % to measure against had I daytrade to my indicators I usually follow.


You've been here for almost three years and you're currently daytrading with 2k in a Robinhood account while working a minimum wage job...

Come on man.

Day trading doesn't work, at least it doesn't with the tools you have available.

However, you have all the tools/knowledge to make a profitable business on this forum (Gold/Notable/INSIDERS).

A few clicks away.

You could probably start making money by the end of the week on Upwork if you really worked hard at it.
@spyt
Its been a long journey to end up with the same end results I had 3 years ago. (same deal 2k ...well no job though ) I'm conflicted about day trading and Its something I have to figure out myself. I know I can make a quick buck at minimal, but I'm not sure if its my ego that says to do a swing trade because I've seen stocks I've sold out go up a significant amount just a few days, I don't want to


I'm not unaware of this forum and all it holds(I read it often) and Its though knowing on the other side of committed execution is gold, however, I seriously plan to integrate myself in another country where I live and sense huge fastlane opportunity and I'm putting in time every single day learning to read and write another language with purpose because It will be my barrier of entry for doing business there with natives(at minimal read a job contract). I've seen may foreigners try to do own a business their but they end up dealing with tourist and expats(along with giving up learning the native language) leading to a lack of repeat customer and after a few years close up shop and return to their home country. I have no intention of leaving that country and will make sure the next time I go, I stay.

Main points:
Committed to:
* learning to read/write a language
*Improve strategy/mindset towards stock
*Saving money/Paying off debt before I leave.

PS: I have to finish college(Last yr) and with the recent semester I changed from trying to shortcut and search from answer online to reading the textbook, comprehending, then doing assingments without help. The former was quick and made mediocre grades while the latter is VERY time consuming however since the first chapter I "tested" to compare the difference, I've never returned and realised how much information I've missed in my whole college life. As for my grades..... there MARGINALLY better for 3 to 4 times commitment.
 

V8Bill

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The stock market is a zero sum game. Every dollar made is taken from someone else.

That's incorrect.

If I buy stock at $10, sell it to you for $11, you sell it to the next trader for $12, they sell it to the next trader for $13...etc who's losing? Sure, any of us might take a loss and we all risk taking a loss but saying it's a zero sum game or that for every winner their has to be a loser is just incorrect.
 
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Millenial_Kid5K1

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That's incorrect.

If I buy stock at $10, sell it to you for $11, you sell it to the next trader for $12, they sell it to the next trader for $13...etc who's losing? Sure, any of us might take a loss and we all risk taking a loss but saying it's a zero sum game or that for every winner their has to be a loser is just incorrect.
Technically it's a zero sum game where the average return of the market is by definition the average return for all investors in the market.

This is why it makes some sense to use index funds if you're aware of your own limits as a trader. At the very least you'll make the average return of all traders that year(regardless of skill level).
 

V8Bill

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Technically that's pretty irrelevant for the individual trader and it's still not true that for every win someone has to lose. The reality is that individual traders can beat the global average and often do and there's nothing strange or irregular about it. Individual traders have different risk appetitites to fund managers who have to be extremely conservative and responsible with other people's money. There are millions of traders each with their own style and commitment. Sorry, but I think you might be drawing a bit of a long bow there, it's not zero sum.
 

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