NO ONE MAKES REAL MONEY IN THE MARKETS WITHOUT INSIDE INFO.
No One- Especially not some fucking retail amateur like the Grunster. He's a chicken to be plucked.
That's not true. It's funny that you can say that with such confidence, do you really feel you know that much about all types of trading to say that? It's pretty silly to make such a blanket statement about such an extraordinarily large and complex industry. For example have you heard of a "market maker" before?
Wisdom is understanding you do not know everything. Ignorance is thinking that you do.
You cannot achieve above risk curve returns on high capital portfolios for the most part, that much is true. But when you are investing a million or less there are ALL KINDS of market inefficiencies that exist. The big boys cannot even play in the same markets because if they took a $10 million position it would change the market from just the position they took and they don't care about taking $10,000 positions.
Going from $10,000 to $100,000 is worlds different from going from even $1 million to $10 million because of what plays you can make. It's not just about it being a 900% gain. Most people don't know that, even smart people, as shown in this thread pretty clearly.
Those that are disrespecting Martin here as being reckless and careless really don't understand what was at stake and what he had to gain. Think he gave a shit about making $90,000? This was a much bigger play. If he had publicly succeeded at this he could have used that reputation to be managing a billion hedge fund in the next few years potentially.
Maybe the trades me made in this exact case were not the best - I'm in no position to judge after the fact though. I'm sure he's his own harshest critic on that regard. It's understandable that he would get rattled with so much at stake.
The fact that what Martin is trying to do is not only lost on many of you, but being looked down on just goes to show where the quality this forum has gotten to over the years. Is there no innovation anymore? Do you all just copy and circle jerk at this point or something? What he's doing here is a pretty unique and potentially very large scale hustle but none of you can really see that it seems.
He took a risk with $10,000 and more importantly his reputation. The upside was plenty more than $90,000. If you do not get that I feel bad for you. Even still I bet he's going to be able to play this into a positive thing long term. Learning from failure and all.
And lastly like many "ballers" on the web Martin's bank account might never have been as big as some of you think. He's never claimed it was(unlike some people I've seen do quite hilariously). However I can personally attest to sending him 5 figure 1099s 2 different years and I'm fairly confident it was almost all profit for him and just a tiny piece of his earnings for the year. So no he's not entirely bank rolled by just his parents.
Good try Martin! Maybe next time.
