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Pastimes : Techride -- Ignore unavailable to you. Want to Upgrade?

To: Joana Tides who wrote (424)	3/17/1999 11:59:00 PM
From: Blue Snowshoe	Read Replies (2) \| Respond to of 7442

Joanie, I just saw the most stupid thing I've seen in years. A guy, who we will can Mr. Idiot, was whining to Dan Rather on 60 Minutes how he lost all the money he was GIVEN, in the stock market day trading. This guy lost about 200K and I can tell you by listening to him he was clueless. He made some broker rich, the guy said he did 120 trades a DAY. What an idiot. Being a nice guy I will post some things that could of made or saved him money. Black and white stuff. 1) Stocks are no different than Vegas, the track or any other place that you can win or lose money. RULE no. 1 about all such activities. The money you go in with should be money you CAN lose. That's the odds no matter if it is stocks or Vegas, things are set up for the house. The only way you can beat the house is to get lucky or know how to play your cards (or stocks) better than they do. 2) This guy thought that if you lose money in stocks you double down. Mr. Idiot, if you walk out in traffic and get run over, is it a good idea to do it again? When ever I lose money, I spend a lot of time figuring out why, so I don't do it again. 3) This guy said he made 120 trades a DAY. I've always found that the less trades I make means the more in tune with the market I am. I suspect tomorrow morning a few people will be trying to get through to brokers, online, etc. to make trades. Not me, made them today and unless GNET drops to 20 bucks a share, I won't be selling a thing. I will be looking to buy but not a 120 times. Perhaps one trade, a good 909er "to be" and then let her ride. 4) Shame on 60 Minutes for giving this guy time on TV. The guy wants his money back, what a cry baby. If he had made 200K and not lost 200K I don't think we would of heard a word out of him, do you? The guy either has a problem or he is just an idiot. A twelve step program may help him but if it is genetics well, an idiot shouldn't be given 200K in the first place. 5) This guy should of spent a half a year studying stocks, the markets, watched CNBC to his eyes hurt, and set up a make believe portfolio and practiced trades before jumping in. Then he should of played with only a small percentage of his money for several more months. If he Crisis Cost Averaged alone he would of been alright. 6) He should of spent a few bucks of all that money he lost to join SI and read post, educate himself as to not being greedy, knowing your stocks, knowing your markets, knowing yourself. One day this guy will get to know himself and it might have cost him 200K to do it. 7) This is how this works. Like all things that pay well the stock market is hard work, hours of research, hours of reading, going from one web site to another, talking with people, calling companies, doing your home work. It is listening to the "experts" because if you get them down, they can help you figure out what to do, sometimes because you know they are right, sometimes because you know they are wrong. 8) If anyone gives this guy one cent back I'll raise hell as an education should not be free. The guy was stupid, now he is a little smarter, he should pay for that. Even if it took 200K for him to learn his lesson. What a sniveler, now snail like in nature to crawl on TV. He should of kept that cash on his hip and read Techride for a while. 9) If there are any people out there like this guy who think if you day trade you get rich, think again. Like most things in life certain people are cut out for some things, some are not. This guy, money market, just my opinion. 909ers BLUE