Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: LiveWire who wrote (6346)	1/31/1999 10:23:00 AM
From: Geigartt	Respond to of 12617

Re: Banks/financial sector "Any idea when this stuff will turn around?" No. My quote is "Nobody knows anything." That is why I'm a daytrader. I used to be an "investor." A friend is an economist and research consultant for Wall Street cos, he writes reports. The firms he was working for lied to him. So I am amending the quote to "It is not possible to know anything; 9 out of 10 who claim to, are knowingly lying to you, and the remaining one has multiple personalities and only thinks he is telling the truth." Trading on news and tips (SI stock boards are nothing more than tips) is death. I used to read nothing but stock threads on SI. I have over time evolved (imo this is progress(? <g>)) into reading NO stock treads and only read threads like this one about strategy, MMs, and routing. You are right, I treat my IRA much more conservatively. One book advises that the only way to ABSOLUTELY POSITIVELY protect your principal is to remove it from the market entirely. Put it into a savings acct or CD. Get it out of any account where you have the temptation to trade or put it at risk in any way. So I am still an investor. My IRA is at risk, but I'm willing to take that risk. And I'm taking more risk by trading. It may sound hypocritical, but I have more control over the variables and liars by daytrading. You cannot win at 3 card monte. But the way I do it, I can at least see some of the cards the MM holds. I can't control all the rules, but if I am disciplined and follow my rules I can remove some of the doubt.