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re: 50 Unfortunate truths about investing
Posted on 3/12/13 at 1:07 pm to Vols&Shaft83
Posted on 3/12/13 at 1:07 pm to Vols&Shaft83
1. Saying "I'll be greedy when others are fearful" is much easier than actually doing it.
0
Posted on 3/12/13 at 1:11 pm to Fat Bastard
No kidding. I've never actively traded commodities with my own money but I've done a trading seminar with play money on CQG Trader. The only commodity we traded was WTI crude, and I was astonished at how quickly you could make/lose money trading crude. I feel like there was one instance where I put down a market-order long position, and the price fell 10-12 ticks before I could even put in my stop loss. It was nuts. In addition, this price movement wasn't even based on any kind of announcement or technical indicator, just noise.
Posted on 3/12/13 at 1:24 pm to OFWHAP
quote:
No kidding. I've never actively traded commodities with my own money but I've done a trading seminar with play money on CQG Trader. The only commodity we traded was WTI crude, and I was astonished at how quickly you could make/lose money trading crude. I feel like there was one instance where I put down a market-order long position, and the price fell 10-12 ticks before I could even put in my stop loss. It was nuts. In addition, this price movement wasn't even based on any kind of announcement or technical indicator, just noise.
It's definitely not an arena amateurs should play in. I know some guys who have made a killing, and know a bunch that have ruined their lives by buying on margin and getting leveraged to the hilt.
Posted on 3/12/13 at 7:26 pm to Fat Bastard
7. On that note, some investors who we call "legendary" have barely, if at all, beaten an index fund over their careers. On Wall Street, big wealth isn't indicative of big returns.
Posted on 3/12/13 at 8:24 pm to stonerolledaway
Volume can make an investor with small percentage fees extremely rich.
Posted on 3/12/13 at 10:49 pm to GenesChin
quote:
Volume can make an investor with small percentage fees extremely rich.
Let's hope this fund manager isn't churning your account.
Posted on 3/13/13 at 4:49 am to OFWHAP
quote:
Let's hope this fund manager isn't churning your account.
I know what "churning" is, but I'm in the industry
You may want to explain what you mean to the rookies. Posted on 3/13/13 at 8:42 am to GenesChin
yes, some providers lower fees the bigger the fund gets.
Posted on 3/13/13 at 10:18 am to Vols&Shaft83
quote:
Not equating what you do to gambling, but I go by the most important 2 rules in investing:
Rule #1: Never lose Money
Rule #2: When in doubt, refer to Rule #1
There is nothing wrong with losing Money, aka taking a loss. The key is to make your losses small. AKA having good risk managment.
Posted on 3/13/13 at 5:44 pm to stonerolledaway
quote:
yes, some providers lower fees the bigger the fund gets.
Even if they are skimming off the top of your returns, if they have an extremely small margin but deal in huge volume they are essentially Walmart and making money
Posted on 3/14/13 at 10:13 am to GenesChin
Not sure what is meant by skimming off the top, if you mean expense ratio, then the lower the better in my opinion. I dont think you should ever pay a load or a 12-b-1 fee either.
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