Stocks is life lol

My father is "playing" that stock market game. You really need a good bankroll in order to be comfortable. Thing is, this China stock market killed a lot of our bankroll. This is something that happen like tomorrow without you noticing it and that could hurt a lot.

Interesting, gonna send some questions your way

can you elaborate on where your confidence comes from? if i'm reading right you lost 1/3 of your BR but seem to be pretty confident that you will be successful for a long time and that it's easier than poker. i'm not doubting you, just seemed like the obvious question to ask. i think we've all been through the poker thought process of "I made $xx,xxx money this month and didn't even run that well, if i can play more hours and blah blah blah i should be able to make $xxx,xxx/year at least", and of course it doesn't end up working out quite like that for most people.

Embracing Chaos is what you have to train for... ...all I need now is that chaos gene to be ingrained in my DNA.

embracing chaos = embracing variance? i couldn't tell if that's what you were referring to with the chaos stuff but i assume so. getting the chaos gene "ingrained into your DNA" seems like a pretty nebulous goal, if that's a requirement for beating the markets how do you know it's going to happen? or are you just saying that you need to be less of a nit?

thanks for the interesting blog post, just my nature to be skeptical of some things. i have zero knowledge about stock trading.

I am expecting 200% ridicule posts from the CFAs here and I am aware there are finance guys here obviously and I would love to know more about the fundamental side of things. Anyway I am NEVER claiming to be a good position trader and there really aren't any "good" ones trust me. Nobody is durr in stocks and everyone is only as good as their last trade, BUT you can be profitable and make a living out of it. I know its just crazy vague but something clicked in my head and learning how to think is half the battle here. It doesnt matter if you make 50 correct trades in a row and the guy beside you makes 45 bad ones and makes more money than you in his last 5 - that is what it is. There's a reason why the biggest names last, and that is CAPITAL - they've made it and they were not stupid with their money, that's for wall street brokers who make money off commissions and go nuts on hookers and coke.

yeah and bigredhoss variance is something that we here have all trained for our entire poker careers, I see majority of the people here liking BW Poker and just having the same type of mind. its definitely something u can build on because mentally we are tough as shit vs majority of the population.

think "2008" tight aggressive is the perfect approach to this thing. nothing more, no durr ivey skills to acquire, only be more familiar with teh players of the market you're in and it will only make you stronger as you get more experience. With China, Shemitah bullshit, World is gonna end well its never going to happen and your money goes poooof. Dollar has no value so what? People spreading those rumours all these years have shorting markets and making money while market contracts and expands from fear and normalcy. shit happens when it does and its funny people still reference the great depression 100 fucking years ago when people still rode horses lol

Internet of Things or IOT tech will change the world soon, I dunno what companies are going to be there first though. It's a corny quote from livermore but this is two things true about trading "it is a marathon and never a sprint" also "money is in the sitting". dont try to be ivey, just find your own system you are comfortable with, in poker that is simply not enough.

You have a long way to go But at least you got the "stay small" part right.

You are wrong about staying away from options That is exactly where you should start.

Resource wise, I suggest all of you interested to look up tastytrade & dough, both are free resources and very thorough in education. They do live shows Mon-Fri & trade live.

Some good segements in their archive:
- Karen super trader, rising stars (motivation)
- market measures (backtest, theory)
- Tastybites (smaller accounts)
- where do i start/know your options (beginners)

etc

Thank me later. Whoever gets into it, and wants to chat about strats and trades PM me.

nice! Of course I would love to learn more haha. yup small bets and tranch buying and selling are simple concepts i ignored and cost me to dig a giant hole i had to get out of, but it is true that ive learnt so much more from losing and there is no other way around it (in my case). I dont touch options yet because we dont have that in my country. my blogpost sounded so much like a poker brag from a newbie and i am 100% aware of that lol. but i'll stick to what i said and i honestly believe in it which is really important, again for myself.

Got a chart of your swings like a pokertracker/hem chart, so we can compare? How about a platform to trade on? Thanks!

On September 20 2015 14:40 Nitewin wrote: Got a chart of your swings like a pokertracker/hem chart, so we can compare? How about a platform to trade on? Thanks!

All uphill mate. See below




All honesty, with options trading you pick your probability of success. Usually 1 S.D is a good starting point, i.e 68% implied success rate, but reality/actual is
closer to 80% on trades. I highly recommend thinkorswim with TDAmeritrade as the platform of choice. It's a lot harder for me to trade the U.S market due to time differences & full time work
in Australia, but been putting in more effort in last month or so. Below is based on a 20K account with the months I traded, and cumulative gain throughout the year.
Will scale up my account significantly end of year.




And data behind the graph: https://docs.google.com/spreadsheets/...adA2bO5pxczrzfJv8_ug/edit?usp=sharing

we gotta have a thread for this. LP members have so much potential.

hhse go make a thread about trading, you seem to be the most successful so far. cariadon is also in finance i hope he sees it and contributes

isnt stocks basically poker with inverse rake? obviously a much better way to make your living if that's what you're into.

but requires a much bigger starting bankroll, because while in poker it's fairly easy to double up a small bankroll multiple times, that doesn't happen overnight with stocks.

Any cliffs on your strategy or do I have to read all those books?

On September 20 2015 16:22 whamm! wrote: hhse go make a thread about trading, you seem to be the most successful so far. cariadon is also in finance i hope he sees it and contributes

I also have a long way to go in regards to learning - I don't want to be bound by one product type. In process of learning about futures & pairs trading.

But sounds like a good idea. I'll write up a post of what I've learned through tastytrades - summarise concepts I've applied over course of this year, but learned over the 1.5 years

Would be interested to talk about this with people here if they wish. I'm on the more academic side of things (finance is what I'm pursuing my PhD in atm), so I generally believe in market efficiency and believe that when one produces excess returns (above the EV of your investments given their risk level) by being a day-trader, it is almost always due to randomness, and simply having a static investment strategy based on your risk-appetite is a better idea. In most cases it is extremely difficult to show that beating the market is anything other than running good. Like I said though, I know there are a lot of intelligent people here, and markets are not perfectly efficient, so I can't completely rule it out as a possibility.

On September 20 2015 17:31 Liquid`Drone wrote: isnt stocks basically poker with inverse rake? obviously a much better way to make your living if that's what you're into. but requires a much bigger starting bankroll, because while in poker it's fairly easy to double up a small bankroll multiple times, that doesn't happen overnight with stocks.

Yeah This. Otherwise I heard there was some "fictional" loans where you could buy a lot more stocks, but I'm not an expert. Also bigger risks.

I think if going by EV then taking loans to enter stock market should be super +ev it's just too risky for the individual, especially short term. But have 50 different people do that over a 20 year period and I think the average results would be great.

https://www.liquidpoker.net/poker-forum/1132309/Journey_to_a_Million_with_Options_Trading.html

I feel that the post should have been a blog post o_o