john250":gtyyf00z said:
TB, if he wants to trade whatever, he has to shove some chips out on the table. (Sorry about a poker metaphore.)
I suppose classes are useful, but the racetrack offers handicapping lessons for free and they stay in business. Someone must be loosing.
My point would be that a carefull assesment of whether you have the personality for trading would be a better start. And are you generally lucky :???:
I know one person trading stocks at home, and she claims to be ahead. I suppose it could be true.
Your comment about the personality for trading is very true. But the people that make money over time, poker or trading, do not rely on luck. They have a system or strategy that gives them an edge.
As to race horses, I took one of those free handicapping courses. It was taught by the track manager and by the announcer. For several years the announcr had made a living as a shooter-a person who plays the horses professionally. So I figured they knew somethng about it.
At the end of the course we went to the track. The instructors gave us a cheat sheet with their top three (3) picks for every race.
Sounds good, right? It was useless. One of their picks was usually in the money, finishing first, second, or third. But there was no way to know which one. You can't lose on two and maybe win a little money on one and come out ahead. You don't win enough on one to make up your losses.
Next I used my brilliant skills to handicap horses at three tracks using the racing forms (looks like a newspaper with all the information and performance statistics on the horses). I did not actually bet, this was just a trial thing.
I was able to win ,theoretically, at two tracks on a weekly basis. But the third would wipe out my winnings. This happened over and over. I was never able to figure out which track I would lose at ahead of time. I concluded that there was probably some behind the barns stuff going on and I had no way to know what, when or where.
Then I met a guy who was actually making good money betting on the ponies. He did not use numbers, calculations or anything like that. He went to the races all the time and observed how "they" were training and runnning the horses. After a while he got to know when they were getting a certain horse ready to win. They do not run a horse to win every time.
If he missed a few times at the track, he had to start all over just watching for awhile.
I got away from original subject, but I just got to remembering about the horses.