Win to lose or lose to win?25 Aug 2020 19:40
Update on my position here. Reading some other boards pis horror stories my paltry 19% loss is making me feel like a winner! Never thought I'd say that about losing money accustomed as I am doing so.
Shame the Stock Market plays to a different tune to the Casinos. Casino tables are guaranteed to return a certain % over time (you cannot beat the %'s). The table whether baccarat, 21, craps or roulette will relieve you of your money, no argument as they are programmed to do. You may have a hot run so best you leave with your winnings. At least stocks dont come with a guaranteed tag of relieving you of your money before you bet!
I have had hot runs in stocks but few and far between yet at my last count I was slightly ahead these last 20 years even allowing for my 'blood bust.' I do inc a very fortuitous win at Goodwood which won me a decent 5 figure sum in the 90's which cushioned me from some very stupid magic bets dealing in the account post the '87 crash. My win/losses from the 60s to the late 80s were nothing to write home about.
I used to visit Casinos where i considered myself to be a Lo' Mag' (logic & magic) gambler not a good combination as when I strayed from the %'s and went magic i lost. I soon realised the boredom of counting at blackjack and spending hours at night playing strictly book to win a few hundred quid if I got lucky was not for me. If the cold cards didnt kill me or I lost the count, boredom sure did.
It's kinda the same here as no doubt in many other stocks punters throwing their chips out as the mrkt drains you of your will to stay the course.
Your options are few, quit the mrkt, hold and pray, sell and move on. I'm in a holding and praying mode atm. I dont believe there are riches waiting for me across the road despite dubious c'mons like the Daily Mail 'Midas' column (tipped my blood thing). To turn a coin has now become too risky and too hard for the likes of me playing catch-up most of the time. The risk reward ain't worth it anymore as luck now seems to play a more than even chance of you winning and if your timing is off, your in trouble, big trouble. A spin of the coin landing heads up ain't for me nowdays.
I hope whatever your methods are they work for you even if its dart throwing at the FT, praying to the JuJu men, necromancy, or like the London punter who saved up £100,000 and bet the lot on red at Binions Casino Las Vegas and won. He took the first plane home.
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