ok. i'll fess up. i told my daughter that a company like e-toys might be a good one to buy at a dollar and hold till college.... but I repented quickly.
it seems like most people are more interested in being right than making $.....so when they ask for tips....so many of them are just wanting to tell everyone what they're doing or did......so I usually just say, "good luck".....at least this is how it was in the bull run.....now those people are usually too embarrassed to bring up anything to do with the market.
I just tell them that my average timeframe for a trade is under 20 minutes and that I have no idea what the market will do overall, which is true and took me a long time to truly believe myself. I've given out too many tips that turned out bad and it can hurt a friendship, even when it's your friends fault for not knowing how or when to take a loss. That's the part of giving advice you have to remember, the average joe doesn't know that you assume he'll just get out with a loss if you're wrong, he'll ride it all the way down, becoming more bitter along the way. That's the one piece of advice I will give, if you are going to invest or trade, always determine ahead of time where you will get out with a loss if you are wrong. Corey
lol that's a good one! however, i am totally turning the corner and i know it..i am seriously so happy. i'm trading real small for a few months and then i plan on dumping another 20k into my account.
I tell them I'm a DAY trader and that my timeframe is often only a few minutes and I never know in advance what I'll be buying or selling or when I'll be doing it. I say, "I could call you when I buy something, but by the time you buy it, it would be me selling it to you, closing my position."
Gordon, Good job! I'm glad you're still in the game. Btw, nice picture. Do you have any idea how high a stack of a million dollars worth of 100 dollar bills would be? 10,000 100 dollar bills? aphie
bill thickness = .0043 inches 10000 x .0043 = 43 inches 43/12 3.58 feet p.s. JWKirkland, didn't see your post til after i put mine, sorry. hehe nice trick, i saw that!