# Diary of a Degenerate Gambler



## Hobotrader (Feb 10, 2013)

.
Too hostile for my tastes here  Thanks to all that were helpful.


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## nakedput (Jan 2, 2013)

Hobotrader said:


> Profile:
> 
> Single
> Male 27 Y/O
> ...



sounds like you have a good handle on finance + trading. Why don't you try to get a job trading with a bank and use your prior knowledge to make some money for them, continue to build your knowledge base, and eventually move out on your own when you are ready and become self employed. With your (seemingly) high knowledge base, it seems like age 35 may be a good target to take the plunge in self employment.


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## james4beach (Nov 15, 2012)

I love money too. I have a scientific and mathematics background, somewhat similar to you probably. I find that markets and speculation are very tempting for analytical people like ourselves. Especially because the modern economy grants very little incentive for creation & production, obviously no incentive for savings, but incredibly high reward on financial speculation and leveraged gambling.

So it's natural for you to be drawn to those activities. And not to give you dangerous ideas, but it's true that these days even a small guy with access to an Interactive Brokers API can basically create his own hedge fund. Please don't do this.

If you turn out to be good at financial trading, I strongly encourage you to seek a job where you can do this. The key point is you should NOT be gambling with your own money. Do what the rest of the wealthy financial parasites do and gamble with Other Peoples Money (OPM). They are smart to do this... a bank trader doesn't put his own money at risk. He puts YOUR money at risk.

If you are speculating on your own account, clearly segregate your gambling money from all the rest of your money. Do not ever start funding gambling shortfalls from your savings & real investments. I have a hard rule that my RSP and TFSA shall only contain low risk fixed income and boring index funds.


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## RBull (Jan 20, 2013)

Quite a story HT. Good luck with your health and finances. Just my opinion but I would get help with the gambling thing. If you can find a way to exploit your interest and acumen with investing using OPM or through employment you might learn even more and still fulfill your needs.


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## lonewolf (Jun 12, 2012)

Hobotrader

I got a lot of respect for you. It takes a real man to admit they have a problem. There are a lot of gambers out there & yours is the first post on here that I have sean that admits it which I think is a sign of strength.

Rbull is right you should seek help. takes a strong person to ask for help. On average womem are smarter then guys when it comes to asking for help. Guys wont ask for directions & instead drive all over the place looking for thier destination & a women is smart enough to ask for help gets directions & arrives @ the destination easier 


You dont want to be a monkey with your money. Natives hollow out a small hole in a tree & put berries into the opening. The monkey puts his hand into the hollowing graps the berries making the monkeys fist to large to exit the opening allowing the natives to walk up to & capture the monkey.

Your making good money & perhaps your focus should shift towards how to streach your dollars to add value to your life instead of focusing on making more money @ a high risk. If one is creative it does not take a lot of money to enjoy life. You got a lot going for you.

Your trading has to take emotion into account & has to be designed so fear causes you to follow a method that gives you an edge that makes you money. Putting to much money on the table & the emotion fear will destroy you.

I did a thread on emotions & investing (my panic based trading journal) which might give you some ideas so mind & emotions are in harmony with your method. ( a lot of people will disagree but Iam not sure if anyone else on here tried to cover the complex subject) Iam not sure if you should even be speculating if you do speculate the bet size has to be small & if you dont have the disapline to keep it small you dont want to become a money monkey so dont grab those berries


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## blin10 (Jun 27, 2011)

look at your losses as an expensive lesson that will be with you for the rest of your life, in my opinion you need to lose some $ to fully experience those feelings... btw that rich man, poor man link, he's talking about 10% average yearly growth which is a wishful thinking and not a reality...


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## james4beach (Nov 15, 2012)

I think the paper trading (simulation) accounts can really fulfill the urge for speculative trading, with zero harm. I highly recommend these.

I have a paper trading account at Interactive Brokers. Not only am I able to simulate strategies I'm interested in, but it has had an additional benefit ... keeping the simulation account going for several years has demonstrated to me that I really can't reliably make money trading. This has been an excellent way to shake myself out of the misconception that I can easily trade my way to riches.

For instance (all in the fake account), I first made a 50% profit in my first year. It seems so easy! But longer term... there were bad losses, and an entire 3 year period that showed no profit.


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## humble_pie (Jun 7, 2009)

you're not really expecting anyone to believe you?


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## humble_pie (Jun 7, 2009)

prepping for library technician diploma could be nice reasonable goal


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## RBull (Jan 20, 2013)

Quite a path HT.


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## humble_pie (Jun 7, 2009)

doKtor ! i knew it was ye.

be careful out there, doKtor. The bottom is a long way down. But you're on your way.


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