View Full Version : Action junkies
09-25-2006, 11:29 AM
Just wanted to know how many other people also bet sports / gamble in addtion to play the market. Got in a discussion with a friend of mine about it. I could see how certain people are more prone to it due to their personality. And if you do, what kind of trader are you? Day, Swing, long, etc....
I could see day or swing traders being more of the gambler type or they just like the action.
Curious to get some other insight.
09-25-2006, 05:21 PM
09-25-2006, 06:03 PM
I like day trades & swing trades but gambling is way too risky...at least a losing trade has the chance of becoming a winning trade in due time (not counting Vonage;)), however a lost bet is lost forever.
09-25-2006, 07:55 PM
I think of myself as a disciplined long term investor, but also do some momentum trading and swing trades.
I have all my retirement investments in index mutual funds in a Roth account and 401k.
I have a taxable brokerage account I use for my short term trades and use this account for income, buying individual stocks.
I also have 2 other brokerage accounts I set up in trust for my daughter and grandkids with instructions that they cannot have these funds until they're 30 years old.
I have a Mad Money account that I gamble with on Intrade.com buying and selling event futures on political, current, financial, weather & unique events.
I play baccaret and craps and fly out to Vegas 2 or 3 times a year usually late fall and winter, and own a second home in Gulfport MS and visit the casinos there and play about 12 - 15 times during the year mostly from May till September.
I refrain from sports betting.
09-25-2006, 09:53 PM
i have never been able to pull up a 10k on a roulette table.
trading for excitement is good for an early grave.
if you treat the market like gambling, remember rule #1: the house never looses.
09-27-2006, 04:26 PM
I go the racetrack with my dad sometimes. Other than that, not really. However I did go to the Atlantis Casino in the Bahamas, won $700 in one hour and lost it all the next. I ended up breaking even, which is better than how most people do at that place. I went there during the celebrity golf invitational and as saw tons of famous people in the casino.
09-27-2006, 07:19 PM
Occasional poker at the Taj in A.C. but for action I like twisting the throttle on one of my bikes.
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