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This thread is dedicated to a discussion of the propensity among some to become addicted to the ebb and flow of daytrading; the excitement of prices changing rapidly and flowing quickly, especially across the Level II screen and time and sales; the hope of riches quickly made; the adrenaline pumped when the time is short and the news is fresh; the high that comes from chasing the fast runners and "bagging" one. It is also here to share the frustration of losing one's life savings in the same pursuit of riches easily won but just as easily lost. The ever increasing influence of gambling on the average American, and especially on those (possibly 10% by some studies) of people who have a propensity to gambling additions is spilling over into the arena of what once was a mundane and unexciting industry -- namely that of investment in the stock market. What was at one time about as exciting as watching the grass grow has become a world of bright lights and colors (level II screen) that mimics the gaming rooms of Las Vegas. Where prices double, even triple in a single day; or just as quickly are halved in an instant. Here, as in Vegas, the odds are stacked against the average trader, but not by virtue of statistics but rather by virtue of human emotions of fear and greed and the rules of the market makers and the NASDAQ which favor, via wide spreads and low exposure the "house". Are you mortgaging your house to fund your brokerage? Are you tapping into credit cards to cover your margin calls? Are you being ever more consumed in the pursuit of the next big mover, spending endless hours scouring SI for tips and advice, charting stochastics and reading 10-Q's and 144's? Is your family suffering because you are neglecting their needs while justifying your priorties because you are "doing it for them and their financial future"? Let's talk. | ||||||||||||
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