I went form sportsbetting to stock trading.
They are very similar in many ways.
Both have more losers then winners.
Both punish greed, and reward patience.
But it is much easier to figure out the smart money in stock trading then it is in sportsbetting.
It is also 100% legal.
You can also tell people that you trade stocks without getting an evil look.
Its socially accepted.
When I was a sports better, I rarely came in contact with other hard core sports betters.
It is not very accepted among my peers.
I have tons of friends who trade stocks, although most of them are not very good at it.
I dont know the deep intricacies of stock trading yet, but I have learned how to follow the insiders. This is not as easy as it sounds.
There is a whole lot more to it then just watching insider buy/sell form 4 SEC transactions.
Just too many negs in the sportsbetting world right now.
If there are only 2 or 3 good books out there, how in the heck can you have an edge anymore?
They are very similar in many ways.
Both have more losers then winners.
Both punish greed, and reward patience.
But it is much easier to figure out the smart money in stock trading then it is in sportsbetting.
It is also 100% legal.
You can also tell people that you trade stocks without getting an evil look.
Its socially accepted.
When I was a sports better, I rarely came in contact with other hard core sports betters.
It is not very accepted among my peers.
I have tons of friends who trade stocks, although most of them are not very good at it.
I dont know the deep intricacies of stock trading yet, but I have learned how to follow the insiders. This is not as easy as it sounds.
There is a whole lot more to it then just watching insider buy/sell form 4 SEC transactions.
Just too many negs in the sportsbetting world right now.
If there are only 2 or 3 good books out there, how in the heck can you have an edge anymore?
to me everything has a risk factor to it.
leaving your money in tin cans in the backyard is risking that you'll loose money with inflation.
buying BP stock, you risk loosing when an oil well blows up
putting money on Miami winning it all is another risk
the key is judging the risk and putting a value on it and then finding an opportunity to take that risk at a lower price.
you can buy:
a truckload of tv's worth $10,000 for $5,000,
CSX stock worth $85 for $75,
New England Patriots to win it all worth +675 for +1500
makes no difference to me, I'm looking for the highest return for the lowest risk...
gambling is risking more than you should because you think you can win
leaving your money in tin cans in the backyard is risking that you'll loose money with inflation.
buying BP stock, you risk loosing when an oil well blows up
putting money on Miami winning it all is another risk
the key is judging the risk and putting a value on it and then finding an opportunity to take that risk at a lower price.
you can buy:
a truckload of tv's worth $10,000 for $5,000,
CSX stock worth $85 for $75,
New England Patriots to win it all worth +675 for +1500
makes no difference to me, I'm looking for the highest return for the lowest risk...
gambling is risking more than you should because you think you can win
Was just doing the outline for a writeup on this topic yesterday and will post asap
Two key components, imho, to fairly describing oneself as an "investor" would include (but not be limited to):
1) Making regular deposits into your overall "bank" (though it is likely spread across several Outs) whether or not you perceive that you "need" to do it
2) Leaving said deposits in place to assure you full range of options at any given buy/sell (wager) moment.
back later...thanks for the topic
Two key components, imho, to fairly describing oneself as an "investor" would include (but not be limited to):
1) Making regular deposits into your overall "bank" (though it is likely spread across several Outs) whether or not you perceive that you "need" to do it
2) Leaving said deposits in place to assure you full range of options at any given buy/sell (wager) moment.
back later...thanks for the topic
