Wednesday, January 23, 2008

Fudge!

Thanks Edgar for the links to this poor guy.

Day trading, and playing the Stock Market is gambling, and it is an addiction. I've played the market and I know what it feels like. It can be hard to get out when the market is high. You want to spin the wheel one more time.

In 1999-2001 I had bit of money in the market. My biggest loss was $6k on some stock that I didn't really believe in. Overall, I got out of the market on top with a huge profit, and coasted for a while, trying to keep my business afloat. Ultimately I lost that gamble, and enjoyed two years of lackluster employment leaving me on the verge of foreclosure and finally forcing me into bankruptcy.

During those years of unemployment, I actually had potential employers tell me that they wouldn't hire me, because I did have my own business. They said that I wouldn't be able to follow direction because I wasn't used to having a boss. Their stupidity and ignorance was quite amazing to me, and I'm glad I'm not working for such retarded idiots today. Every business owner has a boss. They must bow down to customers, investors and The Fates.

After all has been said and done, I'm treading water and doing okay. I'm keeping my fingers crossed that I can get through this year and finish out my bankruptcy. It has been hard. I'm paying back 100% and my attorney and the courts don't seem to believe in cost of living adjustments. So I'm getting pinched by inflation as the cost of living increases and my wages drop while my payments remain fixed. My attorney says that for $400 I can file new paperwork and gamble that things will get better. They have a habit of saying that they did things, they didn't do, so I think there's a 90% chance they'll take my money and never file. And if they do file, I figure there's a 50% chance they'll screw it up and things will be worse. I have a really crummy law firm working for me. I'll be glad when this is over.

But after watching this next video, I feel a little better.

This guy lost $38k over last weekend. Lot's of people have ragged him for making some stupid moves. He even rags himself. But through it, he shows us that he still has a sense of humor. When I worked for a brokerage that was later purchased by a major bank, I was struck by the huge egos that came with the gambling mentality. I know that people who base their sense of self worth on the quantity of money they hold, are particularly hit hard when their money runs low. I think though that this guy is going to be okay.

2 Comments:

At 2:07 PM, Blogger Buzz Saw said...

Weaseldog, that is a parody video by another trader. Here is the original video. It was taken off YouTube for vulgar language and is hosted by break.com.

 
At 2:11 PM, Blogger Buzz Saw said...

This volatiliy is killing day traders on both sides of the trade. You are better off keeping a low profile.

 

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