Related story: You know, my dad played the stock market and did quite well during the dot-com boom. But then during the dot-com crash he lost it all, and was like, "Oh, I have learned my lesson!" But several years later, in 2008, he started bragging about having made money shorting stocks. And I was like, "Dad. Dad. This is not going to end well. Ordinary people do not make money on the stock market. The game is not built that way. I thought you KNEW THAT." And you know what? It did not end well.
Lesson: Ordinary people with ordinary sources of info do not make money on the stock market/comparable forms of financial exchanges. You might THINK you're making money if you happen to be in the middle of a big trend where there's one simple thing to do that will consistently work for a while (like shorting during a huge disastrous downturn) but it WILL NOT END WELL.
And now, I will stop preaching to the choir. :)
Playing with fake money is awesome, btw. I've always had a vague idea of trying something like that to see if I could learn anything, but I don't get around to it.
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Date: 2012-10-11 04:23 pm (UTC)Lesson: Ordinary people with ordinary sources of info do not make money on the stock market/comparable forms of financial exchanges. You might THINK you're making money if you happen to be in the middle of a big trend where there's one simple thing to do that will consistently work for a while (like shorting during a huge disastrous downturn) but it WILL NOT END WELL.
And now, I will stop preaching to the choir. :)
Playing with fake money is awesome, btw. I've always had a vague idea of trying something like that to see if I could learn anything, but I don't get around to it.