Thursday, August 07, 2008

How not to make money

Enjoyed glorious sunrise at Martha's Vineyard sipping on PiƱa colada ... yes, I AM a stock market and blogging addict, therefore few thoughts...

Read "social" blogs on trading sites - you are in the business of fighting windmills and not making money, justice shall prevail - you don't care about making money for yourselves - you care about taking "unjust money" from crooked companies.

Keep asking "if you can make a living trading" - if you ask - you CAN NOT.

Instead of trying to learn - keep wiping your tears and be full of self pity.

Watch CNBC - since you don't care about your money and just want to make them money by pushing up ratings of shows conducted by people who cannot be called traders.

Keep bashing someone who occasionally makes mistake ( at a way lower rate than rock starts, old money bags or "let me tell you what I would do with your money if I was not already taking it")

Dream about getting rich fast - I am happy I work 24x7 to enjoy your dreams at a slower pace at your expense.

Complain about "unpredictable market" - of course you have to - you are too hypnotized by real time quotes in spite of the fact of not day trading.

Keep reading "Trader Mikes" and "Kirk Reports" - you are more interested in what and why already happened than in what WILL happen.

Keep buying new trading hardware - as long as you do you will never utilize your main trading tool - brains.

Continue to pay IBD - they cannot be more wrong than practical trader willing to share his knowledge for free (at expense of making less money since "educated trader" is not such an easy target anymore).

Keep getting back to timely market calls 2 weeks later and wish you were listening back then.

Please, don't change - what will become of me if you will...