This was just publicized in recent nobel prize winning studies. People will take a gamble if the cost is low in proportion to the payout, even though the odds are extremely against their winning, but not take a gamble if the cost is higher is proportion to the payout, even if the odds are in their favor. Besides lottery tickets, the same conditions are seen in buying insurance. The odds that any one's house will be burned down are low, yet the proposed financial risk is devastating (the payout is huge) in proportion to the cost.
We will sponsor a totally hot babe , 18-28, minimum 38DD, incredible looks and body. You will trade with our capital........or at least learn what the kneewell of a desk was meant for.......... JUST KIDDING!!
If you had unlimited money you would continue to trade even if you lost money every single day for 5 years and enjoy every minute of the process.....get real.
To All Subscribers: This is really very interesting to me, because of the path that I have had to take to get to this point. I started with a sizable account and lost a big chunk of it immediately. My accountant took me aside and said, hey look, if you don't wake up and get some kind of training, you are on your way to losing the whole account. My solution, was to go back to school, get a degree in finance, find a shit job working for a boutique investment firm, and observe. I found some successful folks who were willing to let me watch how it is done. I paid attention and 6 years later I can say I know how to make a living. The reason I didn't decide to go into a proprietary firm, was that I felt that if I did, I would probably lose the rest of my stake. I think any young person who contemplates this line of work has to ask the obvious questions...do I really want this, am I passionate about this, do I have skills I can bring to the table, am I mature enough, will I be able to access the tools necessary to be successful? Life's a gamble, I think if a young person can answer yes to enough of the right questions, they probably should go for it. By the way, I have no opinion as to whether Don's firm is the right one to work with. I'm pretty sure that playing it safe leads to a life of missed opportunities. Thanks Steve46
[qoute]If you had unlimited money you would continue to trade even if you lost money every single day for 5 years and enjoy every minute of the process.....get real.[/quote] you're dead
Fin: Your quote doesn;t relate to me. I didn't have unlimited money. My last name isn't Gates. As I stated, I made mistakes, learned from them and here I am. I agree we owe it to ourselves not to be conned (sure there are con artists out there) but I still think you have to take chances in order to get anywhere. Happily, I aint dead. Thanks for your thoughtful reply. Steve46
the comment was in response to the notion that the best traders do it for the money and the thrill of victory not the enjoyment of trading itself. the evidence is to the contrary. people with the sole/primary goal of making money will find themselves in serious trouble. indeed, you will be hard pressed to find anyone who has achieved deep success in any field of endeavor who was preoccupied with the thought of riches. trading would seem to be no different.
Or, is the real issue that individuals take responsibility for their own decisions and actions. We don't need individuals like you to protect us from ourselves. This issue of moral or ethical obligation is up to the business owner. If enough responsible individuals decide someone's business is does not meet their moral and ethical guidelines, they will no longer patronize that business. If enough people don't patronize that business it will fail. The Enron debacle was a good example. A bunch of greedy corporate officers deceived and stole from their employees and investors. Who is responsible for this? Granted, it's not the honest employees or investors. But it was their responsibility to make sure that they didn't have all their money invested in the company's stock. It is also their responsibility to know that no job is secure and that one should always be preparing themselves for the next opportunity should they lose their jobs. You can create all the rules and regulations you want to try to stop this but all that does is inhibit individuals from becoming entrepreneurs. If Don thinks a trading career is better than a college education, so be it. It's not his responsibility to decide what to do with one's life. If one is foolish enough to decide not to pursue a college degree because of Don's offer, so be it. That is THEIR choice, their decision and their responsibility. This is how one learns about life. America is headed in the wrong direction. We are no longer responsible for what we eat, drink, smoke, what crime we commit. My father instilled in me that we must always take responsibility for our decisions and actions. I'm curious Optional 777, what do we need to protect you from?