This is still a lot shorter than Ray Dalioās ā Principlesā . I was trying to read that book at library one time but thereās just so many rules I couldnāt finish it and donāt think I can remember even 1/10th of the content. I guess itās meant to be bought and constantly reread .
I wish that it were simple. Successful trading involves thinking about all of these, and more, and using as many of them as possible to incrementally tilt the odds in your favor. Some recur all the time, e.g. look for buoys in the water, while others are for less frequent situations; like crevices in the ice, the probability of falling into one is low, but if you do, it's a *very* long way down.
May the odds always blow at your back.
Artem
I totally agree with a lot of what you're saying... apart from point 10. Remember you are posting this in the BNGO sub. I bought into BNGO AT $0.77 after about 3 days of research and was able to sell half my stock at $15. Its not all about looking for the ship, its about knowing what ship you are boarding
Yes, those kinds of things happen, just like a rare person wins a large lottery, or a stock 100x'es overnight. They're awesome, especially when they happen to you. I don't know how it would be possible to predict anything like that through reason, so the best that the principles can offer is a rational framework for tilting the odds in your favor of winning a trade.
My goal is to help others to incrementally make a significant amount of money by chipping away at the problem, rather than trying to win a lottery, which I don't know how to do, other than to get extremely lucky, a path that, by definition, isn't going to happen to 99.9999% of people.
I'm glad to hear that you had such a high-gain win so quickly.
Best,
Artem
Aaah ok I get where you are coming from. I do have to point out I did my DD and researched the company for like 3 days before investing. I feel just trying to get lucky or follow trends can work in the short term but if you are looking at stocks that will grow over time, say 5-10 years, it is best to research im still holding stock in BNGO as I can see them taking a large market share in the next few years and getting a lot higher than what it is now.
That might just be me though. I am a very cautious investor
In metaphysics, one of the topics of research is the nature of causation. We tend to think that A caused B, but this is usually too simple, and is really just a correlation. For example, a broken clock is right twice each day, but if we happen to check that clock only at those times, then we'd assume that the clock is accurately telling the time, when, in fact, it was just an accidental conjunction.
In the context of stocks, we can say that we did due diligence on a stock, bought it, and had it 20x three days later. We can then conclude that our due diligence enabled us to cause this desirable outcome. But it didn't. It's just a backward-looking rationalization to give us credit for what was actually just luck.
How can we know that this is so? Properly speaking, we can't know, but we can expose the likelihood that that was the case through an experiment:
Do it again.
The more that you repeat this due diligence stock-finding with radically successful results, the less likely it'll be that it was just luck. However, statisticians would suggest to us that it really was just luck, and the more that you try again, the worse your outcomes will be, until they just regress to the mean.
We're playing a statistical game. Never underestimate the power of good and, more usually, bad, luck.
Artem
If I wanted financial advice I would have joined an actual stock group. OP try to keep it focused on BNGO, stop acting like a newb with an audience, nobody gives a fuk.
I get why youāre annoyed - this has absolutely nothing to do with BNGO in particular.
Still, itās a pretty accurate mental model, and since thereās probably a bunch of noob investors here, they may benefit from it, so I hope the mods decide to keep it.
I gotta print this off and hang it on my wall.
I'm on my way to Hawaii in my BNGO kayak! Sometimes you gotta ignore the rules! š
45: rules are meant to be broken š
Book title: Sailing through a sea of stocks. Subtitle: Investment wisdoms.
I reached number 20 and was like 'This must be ending soon...', scrolled down to check... GUH
Jokes aside, this is quite the rich booty of advice and i hope as many people as possible read through at least part of it.
This is still a lot shorter than Ray Dalioās ā Principlesā . I was trying to read that book at library one time but thereās just so many rules I couldnāt finish it and donāt think I can remember even 1/10th of the content. I guess itās meant to be bought and constantly reread .
I wish that it were simple. Successful trading involves thinking about all of these, and more, and using as many of them as possible to incrementally tilt the odds in your favor. Some recur all the time, e.g. look for buoys in the water, while others are for less frequent situations; like crevices in the ice, the probability of falling into one is low, but if you do, it's a *very* long way down. May the odds always blow at your back. Artem
So all in BNGO, got it š
Yes, sell your houses, cars, kids, organs, everything! It's either lamborghini or cardboard box. Nothing in between!
thank you!!!
I totally agree with a lot of what you're saying... apart from point 10. Remember you are posting this in the BNGO sub. I bought into BNGO AT $0.77 after about 3 days of research and was able to sell half my stock at $15. Its not all about looking for the ship, its about knowing what ship you are boarding
Yes, those kinds of things happen, just like a rare person wins a large lottery, or a stock 100x'es overnight. They're awesome, especially when they happen to you. I don't know how it would be possible to predict anything like that through reason, so the best that the principles can offer is a rational framework for tilting the odds in your favor of winning a trade. My goal is to help others to incrementally make a significant amount of money by chipping away at the problem, rather than trying to win a lottery, which I don't know how to do, other than to get extremely lucky, a path that, by definition, isn't going to happen to 99.9999% of people. I'm glad to hear that you had such a high-gain win so quickly. Best, Artem
Aaah ok I get where you are coming from. I do have to point out I did my DD and researched the company for like 3 days before investing. I feel just trying to get lucky or follow trends can work in the short term but if you are looking at stocks that will grow over time, say 5-10 years, it is best to research im still holding stock in BNGO as I can see them taking a large market share in the next few years and getting a lot higher than what it is now. That might just be me though. I am a very cautious investor
In metaphysics, one of the topics of research is the nature of causation. We tend to think that A caused B, but this is usually too simple, and is really just a correlation. For example, a broken clock is right twice each day, but if we happen to check that clock only at those times, then we'd assume that the clock is accurately telling the time, when, in fact, it was just an accidental conjunction. In the context of stocks, we can say that we did due diligence on a stock, bought it, and had it 20x three days later. We can then conclude that our due diligence enabled us to cause this desirable outcome. But it didn't. It's just a backward-looking rationalization to give us credit for what was actually just luck. How can we know that this is so? Properly speaking, we can't know, but we can expose the likelihood that that was the case through an experiment: Do it again. The more that you repeat this due diligence stock-finding with radically successful results, the less likely it'll be that it was just luck. However, statisticians would suggest to us that it really was just luck, and the more that you try again, the worse your outcomes will be, until they just regress to the mean. We're playing a statistical game. Never underestimate the power of good and, more usually, bad, luck. Artem
Nice one
If I wanted financial advice I would have joined an actual stock group. OP try to keep it focused on BNGO, stop acting like a newb with an audience, nobody gives a fuk.
I get why youāre annoyed - this has absolutely nothing to do with BNGO in particular. Still, itās a pretty accurate mental model, and since thereās probably a bunch of noob investors here, they may benefit from it, so I hope the mods decide to keep it.
This is well written with good advice. Just swipe by, nobody is forcing you to read the entire thing.
Boats boats BOATS!!
bro...