Obama found another war to fight

Harrekin

Harrekin

Well-Known Member
UncleBuck said:
it's funny how you have to make stuff up about me but all i have to do is tell the truth about you.

we gave you too much credit back when we guessed you were mowing lawns for a living, turns out you were evn lower than that.

and you had to take a fucking loan just to cover your fucking living expenses.

"you don't understand how wealth works!!!!!" - ANALEXCESS

have another dose of mental retardation, ANALEXCESS.
Click to expand...
Says the guy who's paying over 100% more for their home even tho they claim they've the cash to pay for it outright.

You're obviously a lvl100 money managing shit-wizard.
 
UncleBuck

UncleBuck

Well-Known Member
Harrekin said:
Says the guy who's paying over 100% more for their home even tho they claim they've the cash to pay for it outright.

You're obviously a lvl100 money managing shit-wizard.
Click to expand...
are you windbags trying to make something negative out of paying a mortgage now?

i thought swamp coolers and mini splits were desperate territory, but this is just getting ridiculous now.
 
Harrekin

Harrekin

Well-Known Member
UncleBuck said:
are you windbags trying to make something negative out of paying a mortgage now?

i thought swamp coolers and mini splits were desperate territory, but this is just getting ridiculous now.
Click to expand...
An unnecessary mortgage is not a wise usage of debt.

You could've saved a ridiculous amount, or you're just full of shit.
 
NLXSK1

NLXSK1

Well-Known Member
UncleBuck said:
it's funny how you have to make stuff up about me but all i have to do is tell the truth about you.

we gave you too much credit back when we guessed you were mowing lawns for a living, turns out you were evn lower than that.

and you had to take a fucking loan just to cover your fucking living expenses.

"you don't understand how wealth works!!!!!" - ANALEXCESS

have another dose of mental retardation, ANALEXCESS.
Click to expand...

The loan is at 2.5%... My investments run 6.5 - 7.5%... Now, you probably would have sold investments returning that kind of money so you could live off of your cash. That is what a poor stupid person would have done.

My point was and continues to be that you do not have to be a millionaire to start a small business. You dont even have to quit your current job. You start slow, with something that requires little capital and build from there. Once you reach a certain point you have capital or income to leverage that into a better situation. Rinse & repeat... Rich people mostly did not start out rich, they had to earn it.
 
NLXSK1

NLXSK1

Well-Known Member
ginwilly said:
It sounds so simple, yet it really is. I'm kicking myself for just now learning this.

The way the rules are set up, I can short 500K on just a 10K investment, then pay a smaller portion of taxes on the money I earned on money I didn't really have. The more I learn, the more I think what took me so long and wtf isn't everyone doing it?

You can open an account now for 100 bucks, read a little, watch economic announcements and profit. No excuses.

I can see why people do this for a living. "You mean I can make obscene money and pay a lower tax rate?"
Click to expand...
It seems like a no-brainer. However, if you look at the % returns for people in for the long haul they are not that great. That is because the loss on a bad investment can write off the gain from many good ones.
 
Harrekin

Harrekin

Well-Known Member
NLXSK1 said:
It seems like a no-brainer. However, if you look at the % returns for people in for the long haul they are not that great. That is because the loss on a bad investment can write off the gain from many good ones.
Click to expand...
He's talking about trading, not long term individual investments.

In trading the trade either goes the way you expected, or you stop-loss.

"It'll bounce back" is the mentality that gives large losses in trading.
 
ginwilly

ginwilly

Well-Known Member
Harrekin said:
He's talking about trading, not long term individual investments.

In trading the trade either goes the way you expected, or you stop-loss.

"It'll bounce back" is the mentality that gives large losses in trading.
Click to expand...
When I first got into forex, I wouldn't enter a trade unless I had at least a 2 to1 stop loss set up.

Some rookie mistakes I made; I'd look at a chart like EUR/USD, see the euro dropping and enter with a sell/call, then I'd see USD/CAD going down and short that too. My mistake would be to assume if these setups are good, shorting EUR/CAD must be great. It just doesn't always work that way. There is more psychology to the market than there is logic.

You should see what happens when a Fed Chair speaks.
 
NLXSK1

NLXSK1

Well-Known Member
Harrekin said:
He's talking about trading, not long term individual investments.

In trading the trade either goes the way you expected, or you stop-loss.

"It'll bounce back" is the mentality that gives large losses in trading.
Click to expand...
What is the best annual return of people who do this for a living?

You are gambling when you are trading like that. Over the long term the returns are not that great. I turned 700 bucks into 1500 bucks a few years ago. That doesnt happen every day.
 
Harrekin

Harrekin

Well-Known Member
NLXSK1 said:
What is the best annual return of people who do this for a living?

You are gambling when you are trading like that. Over the long term the returns are not that great. I turned 700 bucks into 1500 bucks a few years ago. That doesnt happen every day.
Click to expand...
It depends, how long is a piece of string?

If you did it and used luck then congratulations because that was a decent score you made.

I always know my in and out prices before I confirm a trade, otherwise its just too risky.

If you wanna make some decent money, you have to use a combination of technical and fundamental analysis, most people put too much emphasis on one or the other.
 
Doer

Doer

Well-Known Member
ginwilly said:
When I first got into forex, I wouldn't enter a trade unless I had at least a 2 to1 stop loss set up.

Some rookie mistakes I made; I'd look at a chart like EUR/USD, see the euro dropping and enter with a sell/call, then I'd see USD/CAD going down and short that too. My mistake would be to assume if these setups are good, shorting EUR/CAD must be great. It just doesn't always work that way. There is more psychology to the market than there is logic.

You should see what happens when a Fed Chair speaks.
Click to expand...
How are you doing in FOREX?

I can usually battle it to a bitter break even, is all.

There is only mob psychology and no logic at all.

For folks who may not know, FOREX is the main world currency exchange. It is truly global and the activity moves around the world following the sun. Then there are lulls and crushes for a few hours on and off, 24x7.

The high activity periods are when the markets overlap. London and New York is the main overlap and those are times with lots of swinging around, and many buyers and sellers.

So, it is a very seductive setup that compares the prospects for GDP growth for pairs of currency. And if you think it is difficult to understand the relative prospects for a Company to succeed, you will love guessing about the comparisons of GDP between Countries will go, for or against you, in the next few weeks. That is the fundamental side, the logic.

I only follow the mob psychology, the charts. That's is called the technical approach,

There are major and minor currency pairs and the majors have names. They all have their tricks and gotchas, and the market, like all markets, is divided into professional managers and professional speculators to take your money,

A big company like where I work, uses it to buy local cash for operations, so there are many uses of this besides personal speculation...which I love.

USD/GBP is called the Cable

NZD/USD = Kiwi

USD/JPY = Ninja

etc

Easy to loose shirt and wallet.

Never bet more than you can lose.
 
Last edited:
ginwilly

ginwilly

Well-Known Member
Doer said:
How are you doing in FOREX?

I can usually battle it to a bitter break even, is all.

There is only mob psychology and no logic at all.

For folks who may not know, FOREX is the main world currency exchange. It is truly global and the activity moves around the world following the sun. Then there are lulls and crushes for a few hours on and off, 24x7.

The high activity periods are when the markets overlap. London and New York is the main overlap and those are times with lots of swinging around, and many buyers and sellers.

So, it is a very seductive setup that compares the prospects for GDP growth for pairs of currency. And if you think it is difficult to understand the relative prospects for a Company to succeed, you will love guessing about the comparisons of GDP between Countries will go, for or against you, in the next few weeks. That is the fundamental side, the logic.

I only follow the mob psychology, the charts. That's is called the technical approach,

There are major and minor currency pairs and the majors have names. They all have their tricks and gotchas, and the market, like all markets, is divided into professional managers and professional speculators to take your money,

A big company like where I work, uses it to buy local cash for operations, so there are many uses of this besides personal speculation...which I love.

USD/GBP is called the Cable

NZD/USD = Kiwi

USD/JPY = Ninja

etc

Easy to loose shirt and wallet.

Never bet more than you can lose.
Click to expand...
After learning from some rookie mistakes like trying to trade counter trend (I don't want to be a day-trader) and scalp a few pips, I've done OK. 3 months into a live account I've made an 80% profit. Not great, but good for a newb.

I trade mostly on technical analysis, but fundamental trading yields the quick profits. Watch announcements and catch the wave. (The smart money is to wait 30 minutes after an announcement, the greedy money is to jump in and back out in those same 30 minutes).

It's been a fun hobby. If I had 100K to play with I think I could make a nice living doing nothing but this. So far though, I like the security of a paycheck more.

The freedom is very appealing though.
 
NLXSK1

NLXSK1

Well-Known Member
Harrekin said:
It depends, how long is a piece of string?

If you did it and used luck then congratulations because that was a decent score you made.

I always know my in and out prices before I confirm a trade, otherwise its just too risky.

If you wanna make some decent money, you have to use a combination of technical and fundamental analysis, most people put too much emphasis on one or the other.
Click to expand...

I am not talking about most people, I am talking about the professionals. They are not making 1000* their investment per year. A 20% return is considered good.

It is like gambling in that long term your profits are not that great even if you are a professional doing it for a living. Yes, you can score really well short term and people do make money at it but like you just pointed out, to make real money you have to have real money to play with. And a 10% loss on 100K is still 10K and can screw up a long term average pretty seriously.

Good for you if you can do it but most people lose their ass to the professional gamblers ;]
 
Uncle Ben

Uncle Ben

Well-Known Member
Speaking of money, this is a good one.

Socialism vs Racism

A young black kid asks his mother, "Mama, what is Socialism and what is Racism?"

"Well, Child,... Socialism is when white folks work every day so we can get all our stuff free like free cell phones for each family member, rent subsidy, food stamps, EBT, WIC, free school lunch, free healthcare, utility subsidy, and on and on ...you know. That's Socialism ".

"But mama, don't the white people get angry about that?

"Sure they do Honey. That's called Racism."
 
Uncle Ben

Uncle Ben

Well-Known Member
Having money is about taking risk, being smart and above all - time. My wife & me could spend a year in Tuscany and not feel a money pinch.

I pulled 95% of our money out of stocks about 2 months ago and went to cash. Glad I did, the market is super weird now. When there's blood in the streets I'll go back in.
 
overgrowem

overgrowem

Well-Known Member
Why don't we take everyone we can find that has been exposed and have them join isis? We can fight 2 wars for the price of one,and maybe stop a lot of recruits from joining up.
 
C

ChesusRice

Well-Known Member
Uncle Ben said:
Having money is about taking risk, being smart and above all - time. My wife & me could spend a year in Tuscany and not feel a money pinch.

I pulled 95% of our money out of stocks about 2 months ago and went to cash. Glad I did, the market is super weird now. When there's blood in the streets I'll go back in.
Click to expand...
I want to be a day trader!!!
 
Harrekin

Harrekin

Well-Known Member
NLXSK1 said:
I am not talking about most people, I am talking about the professionals. They are not making 1000* their investment per year. A 20% return is considered good.

It is like gambling in that long term your profits are not that great even if you are a professional doing it for a living. Yes, you can score really well short term and people do make money at it but like you just pointed out, to make real money you have to have real money to play with. And a 10% loss on 100K is still 10K and can screw up a long term average pretty seriously.

Good for you if you can do it but most people lose their ass to the professional gamblers ;]
Click to expand...
Most people that I know of take a section of their profit and buy bonds, it's super low yield but it's a guaranteed income.

It's part of the reason traders make so much money yet their profit as a % of starting capital is so low.
 
Uncle Ben

Uncle Ben

Well-Known Member
Harrekin said:
Most people that I know of take a section of their profit and buy bonds, it's super low yield but it's a guaranteed income.

It's part of the reason traders make so much money yet their profit as a % of starting capital is so low.
Click to expand...
I'm holding 3 right now. They pay between 4.5 - 5.6% interest.

Market keeps on tanking, something I predicted 2 months ago.
http://money.cnn.com/data/us_markets/

I started investing in IRA's via mutual funds 25 years ago. Still haven't touched those nor SS.

Was also able to do deferred comp plan with my employer. Every other week I put $200, tax deferred, into a high risk mutual fund, dollar cost averaging. When I retired I made a lot of money on this one. http://finance.yahoo.com/q/bc?s=NBGEX&t=my&l=on&z=l&q=l&c= Got out in 2005. Here's another high risk but in the top 1% of funds to get into after the market corrects:
http://finance.yahoo.com/q/bc?s=POAGX&t=2y&l=on&z=l&q=l&c=
 
Last edited:
You must log in or register to reply here.
Top