Trading is a lot like playing blackjack
Trading is like blackjack. Some of you know when the pandemic started, I started playing blackjack again. I put myself through college playing blackjack and made over $200,000 between 18 and 21 years old. In the 7 months I played when the pandemic began I made $180,000. And then I began trading and posting on Webull. Now i trade here on Moomoo much better platform.
So now for the analogy, both blackjack and trading are about money management. When playing blackjack, I would tell myself, patience, your run will come and it always did. I won 88% of my sessions.
When I began trading again, I was patient, 90% of my trades were successful and profitable.
That is one, I began over trading, I thought I was God, I thought every trade I entered into was going to win, because 90% of my trades were profitable. I changed my style. I changed the way I managed my risk, and my money management. And my trading suffered.
The same to be said for a blackjack player who loses four hands in a row and believes the fifth hand he will win, and sticks it out there, same result, he loses, so again the moral of the story is whether you’re playing cards, trading options, it’s about being patient, it’s about waiting for the best entry. And executing your strategy. Good luck to all
FYI the same is true, when I go on runs and I win the fourth hand, I likely win the fifth, sixth, seventh, etc.
$PayPal (PYPL.US)$ $Palantir (PLTR.US)$ $GameStop (GME.US)$ $AMC Entertainment (AMC.US)$ $Micron Technology (MU.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ $United Airlines (UAL.US)$ $Roblox (RBLX.US)$ $Tesla (TSLA.US)$ $Affirm Holdings (AFRM.US)$ $Futu Holdings Ltd (FUTU.US)$ $Apple (AAPL.US)$ $Amazon (AMZN.US)$ $Netflix (NFLX.US)$ $NIO Inc (NIO.US)$ $Microsoft (MSFT.US)$ $Snap Inc (SNAP.US)$
So now for the analogy, both blackjack and trading are about money management. When playing blackjack, I would tell myself, patience, your run will come and it always did. I won 88% of my sessions.
When I began trading again, I was patient, 90% of my trades were successful and profitable.
That is one, I began over trading, I thought I was God, I thought every trade I entered into was going to win, because 90% of my trades were profitable. I changed my style. I changed the way I managed my risk, and my money management. And my trading suffered.
The same to be said for a blackjack player who loses four hands in a row and believes the fifth hand he will win, and sticks it out there, same result, he loses, so again the moral of the story is whether you’re playing cards, trading options, it’s about being patient, it’s about waiting for the best entry. And executing your strategy. Good luck to all
FYI the same is true, when I go on runs and I win the fourth hand, I likely win the fifth, sixth, seventh, etc.
$PayPal (PYPL.US)$ $Palantir (PLTR.US)$ $GameStop (GME.US)$ $AMC Entertainment (AMC.US)$ $Micron Technology (MU.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ $United Airlines (UAL.US)$ $Roblox (RBLX.US)$ $Tesla (TSLA.US)$ $Affirm Holdings (AFRM.US)$ $Futu Holdings Ltd (FUTU.US)$ $Apple (AAPL.US)$ $Amazon (AMZN.US)$ $Netflix (NFLX.US)$ $NIO Inc (NIO.US)$ $Microsoft (MSFT.US)$ $Snap Inc (SNAP.US)$
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Sam The Greater : The dealer has infinite decks and you think iit's a single deck..
WallStreetYoda Sam The Greater : you are always rude. always, and it showes that your weak and in pain, and maybe things are not going to good for you at home so when you come online you make every interaction an unpleasant one, sure you can keep behaving that way on here but in the face to face world you would likely be treated unpleasantly in return ans or everyone would ignore you. please the world has enough assholes there a dime a dozen lets grow up.
Sam The Greater WallStreetYoda : Show me where I hurt you.
Sam The Greater WallStreetYoda : I think you mixed me up with Sam the Greatest.. I post memes, and my opinion’s. I'm usually right with my assessment. I get a lot of follows. apparently you have made a mistake.
MarketMatt Channel OP Sam The Greater : Bro, you’re missing the point, however I put myself through college playing blackjack, and I put myself through the pandemic playing blackjack, my point is, it’s a grind and when you’re seeing the market well, that is when you increase your positions, when you’re entering into losing positions over and over, that is when you purchase less contracts because you know that you’re in a rut
Sam The Greater MarketMatt Channel OP : I ddon't think you understand, I'm talking about synthetic shares. In black jack you know how many decks are in the chute. In stocks like AMC, it says 100% utilization for like a year straight and you can buy as many shares as u can, Elon Musk can buy the float and you will still be able to buy as many amc shares as u want.. INFINITE SHARES
Spiral Strategy : facts
ColoradoInvestor : The demolition of $Affirm Holdings (AFRM.US)$ is insane. Where have they gone wrong? In blackjack, this is dealer getting 21 every time.
brave Wombat_9978 : Buy three quickly. All right.
SENOR ButtsMcGee Sam The Greater : Wrong, average is 6 to 8 decks,
if that douche is such a great a blackjack player, why not talk strateigies, not sucking himself off
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