Brewski's Leverage Abuse

I made $11,000 a few yrs ago on my first trade. My very FIRST trade. ONE trade! 11K! In one month. My first stock. I was hooked....

I said to myself, "THIS is what I want to do!" :)
 
Lee Shepherd said:
Dear thread and all those watching,

The real problem with gambling and winning (any amount) is that it encourages that person to continue doing the same thing. Gamblers reward. If a gambler makes money (or at least feels they do) then why would they change to do something else. The clear answer is they wouldn't - they would continue to gamble until they blow their wod. If your mind tells you i'll quit when I make it big, forget it - you are lying to yourself. There is no such thing as big, only from a perspective level.

ie, Someone who gambles with a grand and lands 100k, will then be on the mindset that a few extra grand down is chicken feed and will automatically 'up the stakes'.

This thread is a great example (provided by my dear friend Brewski) of the clear difference between gambling and trading/investing.

Regards to all,

Lee
Click to expand...

Spot on.

My first post states exactly what I'm doing.
 
brewski1984 said:
How many times do I need to post that I'm gambling?

I haven't just said that in case I lose, I literally am just gambling.
Click to expand...

I am speaking in general terms. If your normal 'trading' (outside of this thread) is very close to gambling, then you are gambling. What I suggest is to learn to trade instead. Trading is not gambling.
 
Last edited:
piphoe said:
I made $11,000 a few yrs ago on my first trade. My very FIRST trade. ONE trade! 11K! In one month. My first stock. I was hooked....

I said to myself, "THIS is what I want to do!" :)
Click to expand...

My first gamble was a 2 horse race. I lost my money.

I said to myself, "this is not what I want" and haven't gambled since. I don't count losing money while learning to trade as gambling. That's more cluelessness.
 
How about we let this play out and then in a couple weeks I will start a journal that is actually a trading one. I'll stick 1k in my account and use as close to proper risk management as I can with only 1k and 50p minimum stakes and I'll see if I can win some respect back from you guys. Maybe in a years time I'll get the first round in with the measly £100 profit I'll be lucky to get for all the hours and hard work I put in to it.
 
So you are only confident of making 10% yearly return ? Though impressive, will only work for funds where they have the funds. It won't be good enough for retail.
 
EnlightenedJoe said:
My first gamble was a 2 horse race. I lost my money.

I said to myself, "this is not what I want" and haven't gambled since. I don't count losing money while learning to trade as gambling. That's more cluelessness.
Click to expand...

I ended up giving it all back and a "little" more over the next year that's when I realized that penny's were too risky. haven't traded one since.(n)
 
EnlightenedJoe said:
So you are only confident of making 10% yearly return ? Though impressive, will only work for funds where they have the funds. It won't be good enough for retail.
Click to expand...

Doesn't really matter what percentage return I get, it won't be worth the time and effort unless it's in the 000%s
 
brewski1984 said:
Doesn't really matter what percentage return I get, it won't be worth the time and effort unless it's in the 000%s
Click to expand...

If you can manage 100%, that should be enough to lift your morale to allow you to continue. But if you don't try, you will never know.
 
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