I wanted to try stock trading. I literally just had to pick whether it was going to go up or down (to get a positive return) and I picked the ones that looked like they were already going up. I somehow managed to get a negative return anyway after six months.
The moral of the story is don’t trust me with money.
I was a futures trader for six months back in the roaring '90s, fortunately not using my own money. At the end of it all, I had exactly broken even – less the commissions paid on all my trades. So for me it was like flipping a quarter except I was charged a nickel for every flip. Meanwhile my boss (whose money I was trading) was down $100K over the same time period.
No, he was rich enough that $100K (plus the tiny amount of money he paid me) didn’t really mean anything to him. The amusing thing was that he was friends with a bunch of San Francisco venture capitalists worth hundreds of millions of dollars and he was just burning up with jealousy despite being worth millions himself and owning a business that paid him about $40K a month – a state that any normal person would be thrilled with.
Meh there’s only 2 outcomes i always win my 50:50s
I wanted to try stock trading. I literally just had to pick whether it was going to go up or down (to get a positive return) and I picked the ones that looked like they were already going up. I somehow managed to get a negative return anyway after six months.
The moral of the story is don’t trust me with money.
Stock trading is for chumps.
Try options trading. In 6 months you’ll be rich or blowing strangers behind dumpsters for 20.
I was a futures trader for six months back in the roaring '90s, fortunately not using my own money. At the end of it all, I had exactly broken even – less the commissions paid on all my trades. So for me it was like flipping a quarter except I was charged a nickel for every flip. Meanwhile my boss (whose money I was trading) was down $100K over the same time period.
Did your boss end up blowing strangers behind dumpsters for 20?
No, he was rich enough that $100K (plus the tiny amount of money he paid me) didn’t really mean anything to him. The amusing thing was that he was friends with a bunch of San Francisco venture capitalists worth hundreds of millions of dollars and he was just burning up with jealousy despite being worth millions himself and owning a business that paid him about $40K a month – a state that any normal person would be thrilled with.
Mostly the second.
Sometimes you hit the first then the second.
People think they’re skilled when they’re just lucky and keep rolling the dice. Or they try and have a comeback and throw good money after bad.
Or both, if you’re so inclined and/or incredibly prolific 🤷
I’m too scared to place bets that wild.
If they were already going up, it was too late. Just buy index funds and don’t try and pick winners.