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psychological trauma

interesting post ten4one, and another interesting insigh newmoon. And i totally subscribe to sporeguy quoting Ted Allen, yes, its all a gamble. Damn, i think i better earn my $ the hard way and put it to earn interest...and stop dreaming of being a Lesse Livermore...lol...

i guess its a waiting game afterall...

 

you want to invest in businesses?

 

Anyone know how to join the venture capitalist club?

I understand there are certains rules.

 

sporeguy, hahaha... I have absolutely no idea what you're talking about. I only play 21 and mahjong.

you must be a gambling expert! can work in IR next time.

 

The House always win no matter what methods you use. Doubling you losses until you win and stop is a good strategy if you've unlimited betting ceilings; and all the Casinoes know that! That's why there is ceiling amount you could bet in each game! Thus, the Doubling Method could never work.

Investing in Stocks is never the same as Gaming. It is not a zero-sum game!

As for lewsh88 pointers, only rule 1 is valid according to me. Here's why : R2 - without opportunity, there won't be any profit.. so they're related. R3 is cancelled by R1 - you won't be bankrupt 'cos you're using money you could afford to lose! As for R4 - see above. Cheers

 

Hi april4song , let me copy lewsh88's posting 4. Remember: "Buying stocks is exactly the same as going to the casino, only with no cocktail service." - Ted Allen

Likewise if you want to win in casino, it is exactly like you going to buy stocks. Who win ? The brokerage companies ! So to increase the chance of winning, one have to observe the outcomes and use better strategies in casino. One of the most boring strategy is to bet on even and odd. My cousin, a Engineering Graduate observed that the same outcome (say even nos) can occur a max of 13 times continously. He suggested to bet on the 8th outcome. That will have wait about half hour. Very few ppl are that patient. Some suggested to combine doubling method, i.e bet at the 5th oucome (bet on odd in this case), win take money and stop, if lose, double the bet on the next round. Hardly anyone want to use this method, boring and tiring. Of course there are other better methods. But it is not right to use this forum. I have not gone to Genting close to 10 years. In the past I had gone in to test the theories rather than to actually gamble. On the whole, bankers still win. Those with stategies may win some (at most double your chips) and the very few lucky one win more.

 

Hi Sporeguy, this is really "chim" for me. I dont gamble and dont go to casino. I go starcruises for R&R as well as to eat and not the casino. Based on my own logic, while you increase your chances of winning as what you have described arent you also at the same time increasing your chances of loosing and so isnt it true that the odds are still in the favour of the banker. I think I do agreed with singaporegal that odds are always in the favour of the banker.

 

Hi Sporegal, Even going to casino, one has raise his/her chance of winning by studying the outcomes. For example, some people uses the commando style. They do not play colours, but cash chips so that they can cover 4 roulette tables at one time. Then put the bet on the roulette table which give them a better chance of winning. Sometimes can bet only 1 table, sometimes 2. If the chance is lousy, they move to the next 4 tables.

 

Hi lewsh88,

Haha...  I agree with (1), (2) and (3)

This is my take on (4)

Buying stocks without a proper methodology IS like going to the casino. But if you have a tried and tested method, the probablity of making money is much better than going to the casino where the odds are in the favour of the casino.

 

The following quotes and wise sayings may be useful in preventing psychological trauma in stock trading:

1. "When you invest, go in only with money you can afford to lose."

2. "Lost opportunities is better than lost profits." - Joe Dinapoli. ( Sell & take profit first. If price rise after selling, so be it.)

3. "Trade with half of what you have. Keep the other half to save you from bankruptcy."

4. Remember: "Buying stocks is exactly the same as going to the casino, only with no cocktail service." - Ted Allen

 

Quote from a multi millionaire stock player:

Q: "How do you make a million dollars in the stock market?"

A: "Start with two million!"

This is similar to doing business. Many business people went bust in a short period of time because they do not have sufficient working capital to continue after spending all their money on start up costs.

 

30k to 1m!! Possible but not in very short period of time..may by 10 to 20 years if you are lucky!

 

To make $1m with $30k, for me you would need to using leverage tools or it would be hard. As I had mentioned earlier, leverage up by averaging up

 

geojam,

You wil have to be very, very, very lucky; or an incredible wizkid guru to make $1m with 30K in the short term.

singaporegal is right......take a step at a time...10%, 20%...set yourself more achievable/realistic targets;.......build up your capital base. But before you start, do your research on companies, develop your investment strategies, follow your mind and not your heart....and progress....10%..20% at a time....you will hit your $1m......Bear in mind, in stocks, you can also lose the $30K.

Good Luck!!!!  

 

$30K is minimum to start...

if you make consistent 10% to 20% profit every year and reinvest back into trading, you can hit $1 million in no tmie.

 

hard to see how to make a million with S$30k

 

$30K at least ? you need to buy shares in enough bulk to avoid paying too much brokerage fees

 

People ask how much capital one need to start trading in the eshare market.

Any answer?

 

important thing is to always keep a light hearted approach. Try watching this video. Damn funny, especially the japanese! World Cup Soccer

 

don't discount newmoon's theory. actually he may be on to something.

I believe that trading is 70% human pyschology. and from my experience, if I got burnt very badly for one trade, I will be very terrified and scared for my next one. It takes some time and some winning trades for me to regain my confidence.

I think its a good post by newmoon.