A tip from a lady who blew out her entire savings on wallstreet.

Discussion in 'Trading' started by KINGOFSHORTS, Sep 29, 2010.

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    Keep your hands away from the ticker and Don't play the stockmarket.

    "I was one of the lambs"



    Sparse has been the comment upon individual losses in the Stockmarket crash fortnight ago. Few people have had the temerity to expose the amount of their trading losses, fearful of jeopardizing their credit standing. Gleeful, therefore, were newsgatherers last week to find one person who admitted her losses, flaunted the amount, even named the stocks she had had. She, a Miss Margaret Shotwell. 19, of Omaha, said that she had lost more than $1,000,000 in Montgomery Ward, Paramount, Cities Service, General Motors.
  2. But if you do hit it big. don't spend it on reefer.

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  3. Couldn't read a chart, huh?
  4. Maybe she can join my journey to bring the truth about the trading scam, to avoid other lambs from being slaughtered?

    We can BET she used technical analysis.

    As I always said, ALL chartists lose!
  5. Makes a good case in support of wife beating.
  6. This is really a good lesson about someone who trade stocks and decides to risk all of the savings to it. I cannot believe, this is such as risky thing to do.

    One good lesson is to identify <a href="http://www.stock-trading.me/2010/09/how-much-to-risk-when-trading-stocks/">how much to risk when trading stocks</a>. In this way, if you have X amount of savings, then you invest 5% of X and its all gone. Stop trading and go back to basics, something must be wrong.

    Of course, I would not advise anyone to try their trading skills by using real money. You can test your trading system, your money management and risk management strategy all in a paper; without necessary using real money. In this way, its much safer and wise thing to do.
  7. KMAX


    Jessie Livermore probably got her loot.
  8. No, cr, all chartists do not lose:)

    In fact, most chartist who have put the work in win. Trading become a job, just like any other.

    I don't know why, as long as you have been on this forum, you have not at acquired the pieces to a proper system.
  9. zdreg


  10. The general principle is this:

    Someone who has more money than they ever had in there life, now wants to make more.

    I know when I hit the lottery pffttt.. I'm going to the track.:D
    #10     Sep 30, 2010