When i was eight years old i almost lost my eye. Was helping my father hammer in nails and he constantly told me to wear safety goggles. Knowing 'better' i would refuse. My finger slipped and the nail popped right back up at my face and barely missed my eye. Being young enough, my reflexes saved my eyes.
That being said, it was an immature decision. Not because of youth, not listening to parents, or anything of that nature. it was immature because i did not properly diagnose the risk vs the reward. in this instance i was risking my vision for my ego's sake. to "prove" something. I go so far as to say every mature decision is made by properly diagnosing the reward/risk ratio of the decision at hand.
Following in that mindset, this forum is about helping eachother make developed decisions. Managing what we can control to provide optimal results.
- Risk management
- Money management
- Mind managment
are the priorities of this discussion.
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when i make a profit in the market, at the end of the year i like to take that money out of my trading account and into some type of cash account. i consider it more risk management. Some will claim that you need to grown a trading account so you can trade more size, make more profits. to some extent, i think this is true. but i also believe in taking my money that i brought into the casino home with me.
A lot of times ill run into a banker at one of my banks who says "youve got too much cash, you need to diversify into ***real assets*** " or something to that tune. my view is that when we look at balance sheets of companies, we love it when theyre flush with cash, no debt and still making a healthy profit. Yet if we see a counterpart, we tend to think they should be investing, diversifying, that they have too much "inflation risk," or that theyre square.
i find it quite curious how most look at this situation. hope im not alone in that
lol beating a dead horse is a past time of mine
on that note...
val,
to close this out, you dont get to just say youre over it and be exempt from the fact that you might have rilled someone else up in the process. if i walked up to you and slapped you in the face, then you started to get mad, could i just say; "hey, whoooa there, dont do anything in return...im over it."
how would that fly with you? you just attempted a verbal version of that.
on that note, back to risk management.
a bit confused here. As Drew pointed out, you both posted on that forum. so if youre upset about me calling you smart, i suppose i could call ya other things. its not my intention to do so...simply making a point that its a pretty silly thing to be upset about.
in making a post here to get across a simple point, am i going to sit here for an hour and think of 100% of the "bright" spots of stockpickr just so i dont offend some one's sensibilities? of course not. i really dont wanna be wasting that much time dealing with the bickering's of others.
Peter, i think you already know from talking to me throughout the years that i think you post great information, and if you dont, you can certainly ask others on here because ive told them as much. If you'd like to ignore that just to spite the fact that i argued against your comments on here--be my guest.
Val, somewhat repetitive here, but you posted a lot in the Gen Tech forum so i dont even know what youre getting upset about. would you prefer i call you stupid as opposed to smart? and yes, thats exactly what happened at pickr. i was there from damn near its inception. there were pros on there, im talking hedge fund managers who, even if they were lying about THAT, knew their stuff. Jim and James let it fall apart because they wanted to save the their silly ideals for the functionality of the site.
As for final evidence that the Gen Tech forum WAS the best place on that site; i give you the amount of hits and posts on it. bar none, the leader before stockbuz was formed (dont know or care if it is anymore). Secondly, we can also know this because it was the most respected forum. How do we **know** this? because almost no one dared to go on there and say stupid shit. and no, i dont mean questions like "what is a P/E ratio". that isnt a stupid comment/question (and we got that question a few times). It was simply survival of the fittest and the Gen Tech forum was factually the fittest.
Before you got all bent, did you ever stop to think how many forums i tried to create and get going? I tried a psychology of trading forum, a risk management forum, i created a bear market forum (2 weeks before the top in 2007 i might add), along with MANY others. did i ever mention them being a bright spot? OBVIOUSLY i think risk management is the most important part of trading, yet i still didnt call it a bright spot because almost no one else other than peter and i posted a lot of info on it (somewhat similar to on this site).
Moreover, i essentially called everyone on this site smart. At the very least i called you smarter than most on stockpickr. its silly to get mad at that. Its additionally silly to throw back semantics and "what about what i said" comments as if i implied only what i was involved in was what was bright. I started and participated in many forums and was always one of the leaders in most questions answered. Yet i only said the Gen Tech forum was the bright spot...because it was.
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