I’m making some over due additions to the blog roll.
First up is Thewild1. You can read the wild1’s work at www.thewildinvestor.com. That’s alot of W’s. This is an investment blog. One in which I frequent daily.
Next I am adding Eliott Wave and Fibonacci Charts at just-charts.blogspot.com. Can’t argue with that. I love charts and there some good ones to be found here.
You have to check out http://www.billakanodoodahs.com/. I enjoy reading Bill’s insight into trading. I’m also a big fan of his posts on the economy and politics.
Finally I am adding High Probability Trading. HPT is famous for his Blow Up Video. Which is no longer available. I still like reading his blog. Lots of interesting videos, charts and observations
Did you know my blog is worth $430K? It’s true! Check out my badge on the right. You’ve probably seen the badge on several other blogs. I think I was on HPT’s blog the last time I saw one.
Ok, I’m full of crap. According to the calculation my blog is worth a big fat goose egg. That’s right $0.00. I probably spend two to 3 hours each night on this thing. Zero dollars was very depressing.
I will say this though. I was looking back six months when I really started writing and promoting. I went from 200 uniques in September to over 3400 this month and almost 10K page views. Along way to go to be sure, but it’s nice to see progress even if my blog is “worth” didly squat in terms of links.
Here’s a quick look at three shipping stocks that I think are worth your time. If the market continues its advance out of the triangle, these three stocks are poised to move.
The weekly patterns for all three stock are positive. Each has bounced off the 50 SMA and is consolidating. I would like to see each closer to a 52 week high, but alot of damage was done over the past few months.
So, where I live in New York State, there’s an idiotic commercial running for the New York State Lottery.
Don’t get me started on what a bane government-sanctioned lottery is to society. Sure you have to be mathematically challenged to play it from the start. It’s a money-sink for the ignorant and the desperate. Those that would be better off using their resources to educate themselves and improve their financial situation are trapped in institutionalized gambling sold under the guise of a harmless game. One that benefits education and one you have a chance to win.
Complete Bullshit. Well the NYS lottery at least gave me some fodder for this post.
I set my account size as $100 bucks. Next I set my stop size to 100% because when you play lottery, you lose 100% of what you risk. This gives me a position size of $1 which is the minimum size of the game mentioned in the commercial above.
Now, you know most people won’t have the discipline to risk 1% of their equity in any endeavor. But let’s keep going.
So now, I ask the question: How much do you need to win to be profitable. Well, assuming your odds are 1 in 9, you would need to win close to 1000% more than you risked each time you did win. But get this, the minimum winning odds aren’t even 1 in 9 (that’s the overall odds of winning). The actual odds of winning the minimum win is 1 in 11, and it isn’t even a cash prize.
In order to actually win some cash the odds go up to 1:109. Lottery is a joke. If trading is a losing game, playing lottery is akin to setting your money on fire and watching it burn.
Look, if you have the most mediocre of systems, I would be willing to wager you can win 30% of the time. Download Chris’s calculator and see what is possible. If you can stick with your system, winning just a small percentage of the time, you can do amazing things with your money.
You just need to stick with your system. Adhere to sound risk management rules and trade with discipline. Otherwise you might as well play the lottery.
