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Day Trading

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xtasy010
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Day Trading

Postby xtasy010 » Thu, 02 Jul 2009 6:20 pm

I have been curious about day trading for a while and the other day I attended this free workshop held by Marcus from http://www.conceptofprice.com/ after which I am even more keen on trying it out. If anyone here has tried it out I would love to here about your experiences. By the way have you heard of this guy?

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hibri2
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Re: Day Trading

Postby hibri2 » Thu, 02 Jul 2009 6:50 pm

xtasy010 wrote:I have been curious about day trading for a while and the other day I attended this free workshop held by Marcus from http://www.conceptofprice.com/ after which I am even more keen on trying it out. If anyone here has tried it out I would love to here about your experiences. By the way have you heard of this guy?


have not try it and i am not interested on trying it;

just a word of advise...

anything that advertise itself with:

"Create A 2nd Source Of Income With Just 2hrs A Day!"

in big bold red letters will send alerts to anyone with common sense.

get rich quick schemas, just like religion, feed on the desperate.
"Do not pray in my school, and I will not think in your church." - Unknown.

willinsg
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Postby willinsg » Thu, 02 Jul 2009 11:31 pm

i bet the similarities between the scheme and religion ends right there.
cuz if you sue the get rich quick scheme, there is a glimmer of hope to get the money back. but the church or temple? you'd be happy to even get some holy water
Men do not differ much in intellect, only zeal and hard work.

bigfilsing
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Postby bigfilsing » Fri, 03 Jul 2009 8:02 am

willinsg wrote:i bet the similarities between the scheme and religion ends right there.
cuz if you sue the get rich quick scheme, there is a glimmer of hope to get the money back. but the church or temple? you'd be happy to even get some holy water

but you could get sent to hell :twisted:

On the day trading. If you are willing to study and do proper research you may make some money . Anything less than a good insight into the markets and you may as well wait till the casinos open :D

Good luck

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Strong Eagle
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Postby Strong Eagle » Fri, 03 Jul 2009 8:30 am

The ad (the small part I read) is factually incorrect. Warren Buffet is not a day trader but rather a buy and hold man. I smell scam. If you want to trade options, start with these websites.

http://www.optionseducation.org/default.jsp

http://www.stockgumshoe.com/

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xtasy010
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Postby xtasy010 » Fri, 03 Jul 2009 1:32 pm

hibri2

I agree, the guy has to work on his site, it looks dodgy at first glance.

SE,

Yea i noticed the misuse of Warren's name as well =)

Thanks for the links, will take a look

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hibri2
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Postby hibri2 » Fri, 03 Jul 2009 2:06 pm

xtasy010 wrote:hibri2
I agree, the guy has to work on his site, it looks dodgy at first glance.


hello!

xtasy010, i checked it several times, it still looks dodgy after the first, second, third all the way to n glances... by the way, it is not his site which send the alarms, but the whole "feel good - lets be rich" attitude... a trademark of a scam.

first time i saw your post i was gonna flagged to the mods as spam... it sounded just like an ad but i decided not to be such a jerk and rather give you an advise (in case that you were just naive), that done i leave it to you.

take care!
"Do not pray in my school, and I will not think in your church." - Unknown.

Vincent Mothballs
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Postby Vincent Mothballs » Wed, 08 Jul 2009 6:13 pm

This is not a rant about any particular system, at all. Indeed, you need a system to base your trading decisions on. My opinion is that there is no Holy Grail system of trading. There is only sound basic principles which should make profits in the long-term (whether it is technical analysis or fundamentals). Those that are successful in trading have got a resonably sound system, but more importantly, have mastered their own emotions regards trading.

The only thing stopping those basic trading principles from making profits is human nature - panicking or thinking too much which is caused mainly by watching the markets constantly and having too much information. So, even if someone did have the best trading system availabe to them, chances of success can be affected if they do not follow the instructions - which is much harder than people realise. Anyone that has ever put any money down on a form of trading knows what this is like.

Example - In theory, the odds are in the player's favour when playing Blackjack. So, if the player simply plays in a robotic manner according to the best options for each variation of hands dealt, then he should be a winner in the long-term. However, if he loses faith in the system, or starts to second guess the hands that he is dealt, then it would disrupt the probabilities for his success.

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Postby Strong Eagle » Wed, 08 Jul 2009 6:31 pm

Vincent Mothballs wrote:Example - In theory, the odds are in the player's favour when playing Blackjack.


This is not correct. Blackjack is a complex game and very difficult to compute exact odds but for a single deck game, the closest one can get to 'winning' is almost 50-50 with the house. When one goes to multiple deck games and auto re-shuffle after each hand, the odds are definitely in favor of the house.

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Postby Vincent Mothballs » Thu, 09 Jul 2009 12:57 am

This is not correct. Blackjack is a complex game and very difficult to compute exact odds but for a single deck game, the closest one can get to 'winning' is almost 50-50 with the house. When one goes to multiple deck games and auto re-shuffle after each hand, the odds are definitely in favor of the house.
In that case then, I would suggest not playing Blackjack, or any other forms of gambling for that matter! The odds always catch up with you, and of course, there is always the human element of it, as well.


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