RE: GEO5 Jun 2017 12:41
8oothy, that's good advice from brad there. I would add...
If you're not prepared to put in big hours, then you're ill-prepared to put in big dollars. (Whatever big is for you.)
Emotions are your main enemy in this game. Specifically, greed and fear....they're the ones that skew our judgement. Some people are naturally more level-headed, others just lose it! Often it's only practice (at losing and winning,) that can make us good at it in this respect.
Honestly, how good is your judgment in the rest of life? Ultimately this game involves weighing things up and making a call. Is that the skill of yours that you want to put your money behind? Would your friends say it's a strength of yours? Have you had good practice at making the wrong call?
Are you good at the ponies, or sports betting, fantasy football? That's not compulsory of course, but there are many similar judgement processes involved.
What special strengths do you bring to the contest? Which of your qualities suggest you can win at this? Be warned that the stereotypical losers in this contest are (ex) well-off dentists and doctors. They probably got more iq than you or me, but their very brains and accomplishments largely explains their overconfident naivety. Them lot have been farmed since the dawn of paper markets.
Humans are each born the way they are, roughly speaking. Know your own psychology. How well do you cope with uncertainty? Some find it an enthralling challenge, others find it a sickening worry. While some worriers become super-dilligent, others close their eyes and throw away the money to escape the responsibility of it. overall it's better to be a Fonzie about, -clearer head! - but they get lazy too.
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