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(YouTube)   Stock Futures anyone? Caution: extensive use of 'F' word   (youtube.com ) divider line
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1914 clicks; posted to Business » on 21 Jan 2008 at 3:29 PM (8 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Ra_
2008-01-21 01:57:22 PM  
Tomorrow is going to be Epic
 
2008-01-21 02:24:26 PM  
I guess it would be funnier if I understood what i was looking at.


I'm no financial guru...but what's the difference in playing the stock market and going to Atlantic City?
 
2008-01-21 02:24:42 PM  
Ah, this is a fake.

From the Vid: "This is how I spend my Sunday night?"

Market does not trade on the weekend.
 
2008-01-21 02:47:18 PM  
I'm no financial guru...but what's the difference in playing the stock market and going to Atlantic City?

Brokers get a bigger cut of your money than dealers do.
 
2008-01-21 02:50:33 PM  
Ford?
 
2008-01-21 02:53:37 PM  
friendinpa: I'm no financial guru...but what's the difference in playing the stock market and going to Atlantic City?

Brokers get a bigger cut of your money than dealers do.


Well put.
 
2008-01-21 02:59:36 PM  
Bonkthat_Again:
I'm no financial guru...but what's the difference in playing the stock market and going to Atlantic City?


You don't *have* to use a broker to trade in the market, but then you will probably end up like the guy in the video.
 
Ra_
2008-01-21 03:07:20 PM  
The guy just bought Dow Jones Futures.
He thought the Stimulus Package was gonna bump it up.
The rest of the world is realizing that we can't fix our problems by fiddling with rates or simply printing more money.
Stocks will likely be down 500+ tomorrow.
He chose poorly.
 
2008-01-21 03:40:30 PM  
Ra:

"He chose poorly."

I know that is a movie line, but can't remember which movie.

Anyone care to help me? I've had so much head trauma (being a whore involves that) that I can't remember the movie.

/ Indiana Jones??
// I'm a whore
 
2008-01-21 03:43:14 PM  
MBA Whore: Indiana Jones??

yup.

The guy chose the wrong grail to drink from. Indy took the cup to save his father's life.
 
2008-01-21 03:44:46 PM  
smack4u: Ah, this is a fake.

From the Vid: "This is how I spend my Sunday night?"

Market does not trade on the weekend.


Futures do trade on sunday nights- but not last sunday night due to MLK day today.
 
2008-01-21 03:46:50 PM  
smack4u: Market does not trade on the weekend.
Futures.

It's kinda cute when you can see someone's unshakable faith in Free Markets come unhinged before your very eyes.
 
2008-01-21 03:47:18 PM  
Guy took a video of himself on a split screen and just happened to get lucky and 'catch on tape' himself flipping out?

I'm sure he does that EVERY time he trades stocks. Op, time to trade, better set up the webcam and start my desktop recording software!
 
2008-01-21 03:48:21 PM  
Who the hell videotapes themselves all day long?

smack4u: Market does not trade on the weekend.

I do not think that is entirely correct.
But I will agree it is fake. If someone is able to get access to realtime data, they should know enough about the market to have stop losses and many other ways of protecting themselves.
 
2008-01-21 03:50:41 PM  
andrewabc: I do not think that is entirely correct.
But I will agree it is fake. If someone is able to get access to realtime data, they should know enough about the market to have stop losses and many other ways of protecting themselves.


Not to mention, why would somebody be recording themselves watching their portfolio with a fancy split screen?
 
2008-01-21 03:53:09 PM  
I don't know what to think of this guy...

Why record it and put it on the internet?
 
2008-01-21 03:55:48 PM  
andrewabc: Who the hell videotapes themselves all day long?

smack4u: Market does not trade on the weekend.

I do not think that is entirely correct.
But I will agree it is fake. If someone is able to get access to realtime data, they should know enough about the market to have stop losses and many other ways of protecting themselves.


I dunno... From his other videos it looks like he just starting doing it and only turns the cameras on when he's going to be doing interesting things.
 
2008-01-21 03:56:24 PM  
And this explains why 90% of the money goes to the top 10% of the traders.
Maybe there should be a thread about the rich and super rich.
 
2008-01-21 03:58:36 PM  
www.spiegel.de
 
2008-01-21 04:02:22 PM  
Step 1. Buy Index Fund

Step 2. Do Nothing

Step 3. Occasionally Add Money

Step 4. Repeat 1-3 for 15-30 years

Step 5. Profit.
 
2008-01-21 04:03:09 PM  
eeyoreptz1: And this explains why 90% of the money goes to the top 10% of the traders.
Maybe there should be a thread about the rich and super rich.


Amazing idea, I've never heard of such a thread!


I'd tell somebody to sponsor this guy, but I think he should sponsor himself by his own bootstraps, personally.
 
2008-01-21 04:06:35 PM  
StockCharts.com (new window)
If you want some nice graphs for stocks. Assuming you know what MACD, RSI, and a whole bunch of other things mean.

Much better than default google/yahoo finance does.

/Candle Sticks FTW
 
2008-01-21 04:09:28 PM  
Bladel: It's kinda cute when you can see someone's unshakable faith in Free Markets come unhinged before your very eyes.

More cute is someone naive enough to think we have a free market.
 
2008-01-21 04:12:42 PM  
This is probably the same guy that belittled my unwashed financial skills for asking.

1. Why does a company that turns no profit, is not expected to turn a profit anytime in the next few years and spends all of its money on superbowl ads have its stock value continue to go up?

2. How can people that only make $5000 month afford $750K homes and often multiple ones?
 
2008-01-21 04:17:37 PM  
Wall Street. Where fortunes are lost and dreams get crushed. All wanting to be like this guy. Link
(new window)

On the positive side.
Walmart just got a new application.
 
2008-01-21 04:18:11 PM  
High Probability Trading, huh?

/I'm archiving these videos to show to my kids if they ever want to daytrade
//if they're real
///the videos, not my kids..
 
2008-01-21 04:21:17 PM  
BTW, here's his blog. Link (new window)

Unless he's been faking since 2006, this looks like the real deal...

/poor bastard...
//i mean, broke bastard
 
2008-01-21 04:21:31 PM  
wingnut396: 1. Why does a company that turns no profit, is not expected to turn a profit anytime in the next few years and spends all of its money on superbowl ads have its stock value continue to go up?

That pretty much sums up the tech bubble. People were buying into companies that had NO revenue streams and no past financial records. They were just ideas that were supposed to revolutionize everything.
Selling pet food online is not profitable.
 
2008-01-21 04:22:47 PM  
Fark me totally. I remember seeing the dow bounce around 14000 day after day and thought, "this is the time to take all my money out of the market." Then i thought, "dont be stupid, as soon as you take it out, it will go back up."

oh well... i guess i could be this guy.
 
2008-01-21 04:28:11 PM  
From his blog:

Monday, January 21, 2008
-31k, Goodbye

Good Bye.........I hope you all have a nice life. I need to be to work in 2 hours, and I can't manage this position, I have to sell out. About 40k in 2 days,,,,,,,,,,,,gone. Speechless. One bad trade, is all it takes. 2 and a half years of trading thrown down the drain on 1 trade. Who would've thought the Futures would tank as much as -500pts on YM with the US markets closed. I didn't, and I never really wanted to be in this position, but I couldn't accept the small loss.

Go ahead and link me and show the world how much of an idiot I am. Leave the comments of how stupid a trade I put on.

Now is probably a good time to go long now that I sold out.
 
2008-01-21 04:30:51 PM  
I like that blog.

"I made a post last September titled "market crash by year end", with the prediction the market would drop to 12,000 on the dow. Looks like I was wrong,,,,,

by a few weeks........"

Then he didn't listen to his own advice.
 
Ra_
2008-01-21 04:31:48 PM  
This could be fake but there are going to be a lot of people even more upset on Tuesday.
He wouldn't be the first person who failed to grasp his limitations.
Maybe he set up the video to document his clever investing techniques?

thrilltone.com
 
2008-01-21 04:32:12 PM  
Really, someone thought last night would be a good time to invest a lot of money in stocks?

Even the republican candidates are talking about a recession. Once the dow hits 10k I'll be happy to invest in some stocks (all about the tobacco companies for the big dividends)
 
Ra_
2008-01-21 04:40:09 PM  
>"Really, someone thought last night would be a good time to invest a lot of money in stocks?"

Didn't you hear?
The President just announced that he's going to print another $800 for everyone.
This will turn the economy around, as soon as everyone spends it on Chinese goods.
 
2008-01-21 04:47:28 PM  
"The stock market is one unpredictable nubian!"

Tokyo Breakfast (new window)
 
2008-01-21 04:47:48 PM  
Can someone answer this question about fear though?

The world markets took a big hit because the US market is doing poorly. And now the US market is going to take a big hit because the world markets took a big hit because the US market took a big hit.

Where does that cycle end? Doesn't that at least seem the slightly bit stupid?
 
2008-01-21 04:50:21 PM  
Crap. above post is NSFW! Extensive use of language!
 
2008-01-21 04:55:09 PM  
Latest comment;

"Vitacore (10 seconds ago) Show Hide Marked as spam
0 Poor comment Good comment Reply | Spam

Suicide may be your only option.
"

/Ouch
//I wouldn't post that video
///Or use leverage
 
2008-01-21 05:03:18 PM  
Series 3 Futures broker here:

No, it's not fake. Stock index futures trade electronically (as opposed to pit trading)on Sunday nights , even if the actual indexes aren't open (such as today).

Since in the video he said he thought the market would gap down 100 points at open, that means he probably went long at the open with a market order (almost always a bad idea) and then discovered the market dropped another 200 points rapidly.

According to his blog that someone posted here, he says that he wasn't willing to take a small loss, which means he had a small window of opportunity to get out with a small loss, waited, and before he knew it he was down 25k, which apparently is (was) his life savings.

Lesson 1: Not knowing the difference between investing and speculating.

Lesson 2: Only speculate with money that you can afford to lose.

Lesson 3 : Always use stops.

Lesson 4: The market can stay irrational longer than you can stay liquid.


Now imagine that same scene, only with 20 guys, half of whom are reacting the same way because their clients are losing their asses, the other half are cheering because their clients are making bank. That's what a commodity brokerage is like, every other day.

I inherited a client from a broker who quit, this client lost over 1 million $$ on the euro and his only problem was that he was worried his wife would find out and be pissed .
 
2008-01-21 05:06:00 PM  
Quel: Can someone answer this question about fear though?

The world markets took a big hit because the US market is doing poorly. And now the US market is going to take a big hit because the world markets took a big hit because the US market took a big hit.

Where does that cycle end? Doesn't that at least seem the slightly bit stupid?


The cycle(s) never end. Around and around they go. That's why their called cycles. Cyclical and all that...
 
2008-01-21 05:07:42 PM  
Daytraders = farking leeches.

Too bad you lost everything you had. Guess you're gonna have to get a real job now, actually producing stuff, instead of living off mergers and aquisitions, celebrating when thousands lose their jobs so your options will show you a little profit.


/pretty woman ending FTW
//runs and hides
 
2008-01-21 05:08:56 PM  
Can someone answer this question about fear though?

The world markets took a big hit because the US market is doing poorly. And now the US market is going to take a big hit because the world markets took a big hit because the US market took a big hit.

Where does that cycle end? Doesn't that at least seem the slightly bit stupid?


It ends when there are as many buyers as sellers.

And no, its not "stupid", its the way all markets work.
 
2008-01-21 05:10:30 PM  
This, kids, is why margin accounts are a bad idea if you're not 100% sure you know what you're doing.
 
2008-01-21 05:12:29 PM  
Quel: Can someone answer this question about fear though?

The world markets took a big hit because the US market is doing poorly. And now the US market is going to take a big hit because the world markets took a big hit because the US market took a big hit.

Where does that cycle end? Doesn't that at least seem the slightly bit stupid?


And when the U.S. is doing well other people do well, making the U.S. do well again.

Take the bad with the good and hope it don't cause you to end your life prematurely.
 
2008-01-21 05:15:41 PM  
Ra_: The guy just bought Dow Jones Futures.
He thought the Stimulus Package was gonna bump it up.
The rest of the world is realizing that we can't fix our problems by fiddling with rates or simply printing more money.
Stocks will likely be down 500+ tomorrow.
He chose poorly.


THIS FTW!!!


"This, kids, is why margin accounts are a bad idea if you're not 100% sure you know what you're doing."


Im only about 50% sure what im doing.
 
2008-01-21 05:19:35 PM  
Quel: Can someone answer this question about fear though?

The world markets took a big hit because the US market is doing poorly. And now the US market is going to take a big hit because the world markets took a big hit because the US market took a big hit.

Where does that cycle end? Doesn't that at least seem the slightly bit stupid?


Kind of like how someone appraised a house 10% above the market so the next house is then appraised even higher, and so on and so on...

Yeah, pretty short-sighted and stupid
 
2008-01-21 05:23:57 PM  
Daytraders = farking leeches.

Actually , NO. Daytraders and speculators provide the MOST important aspect of any market: liquidity.

Your financial and consuming life would suck if daytraders and speculators weren't allowed to participate in the markets.
 
Ra_
2008-01-21 05:34:17 PM  
There are cycles of a wider scope. When currencies collapse, history has shown that it happens quickly.
Both OPEC and China would dearly love to dump their dollars now.
Petty manipulations of interest rates can no longer hold up a house of cards that is so severely overextended.
 
2008-01-21 05:45:14 PM  
i129.photobucket.com
 
2008-01-21 05:45:45 PM  
Actually , NO. Daytraders and speculators provide the MOST important aspect of any market: liquidity.

Says who?
 
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