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Trading Stocks vs Making Money Via Blackhat. The Pros and Cons of Each?

Discussion in 'Making Money' started by bobsleds, Aug 11, 2013.

  1. bobsleds

    bobsleds Regular Member

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    I am new to doing blackhat but ive been reading stories about people making way more money with trading stocks

    for your vantage point what are the pros and cons of each? and which do you ultimately think is more worthy of your time investment
     
  2. netmoney1

    netmoney1 Executive VIP

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    They are similar...as they both require knowledge and hard work...

    Those that kill it in the stock market do so because they know what they are doing....

    Those that do well in IM do well because they know what they are doing....

    See a trend? There is no free gravy train...both require a sh#t ton of hard work...and both come with huge risks...and huge rewards...
     
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  3. Logician

    Logician BANNED BANNED

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    I knew a guy in SF that played the flute and made 8000 a month, if I played that same flute I probably wouldn't make a penny. So I guess to answer your question, no matter the line of work, you gotta be a pro to see the pros.
     
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  4. bobsleds

    bobsleds Regular Member

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    yeah but with black hat it just seems your money is not on the line as much as trading stocks correct?
     
  5. spider7

    spider7 Regular Member

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    Yes but...how much it your time worth?

    And don't forget all the skills you need with IM. That's not easy and not everyone can do it. Lots of people burnout from IM. LETS FACE IT....if you can't make money at it, you will be forced to quit!

     
  6. cashcrateaddict

    cashcrateaddict Elite Member

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    Lol as if you can become a profitable trader by reading forums and applying what you read.
     
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  7. VinceC

    VinceC Elite Member

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    I have frd selling vegetables in the market and the other frd trading full time in the stock market. Both are dealing in the markets, but the latter is not earning as much as the other.

    Back to your question, pros n cons. Both can make money if your method is right. For trading, there are simply buy or sell, as simple as u see, but not so easy as u think. u don have to wait like in IM, the moment u placed the order, depending on which direction u bet, the outcome is almost instant. Whereas IM, one needs to do all the stuffs before the campaign, and need to wait before one can see the result.

    For losing part, if u are not discipline enough in trading, all your fortune could gone in 60 seconds. I knew it when I suffered the most sadiest part in my life when DOW dropped 900+ points within that minutes. Those with weak heart should not try it :)

    In IM, u just lose the initial campaign setup cost and time. I really cannot think of how much further u could be losing after that.

    You can't really compare an apple to orange thro
     
  8. inkcredible

    inkcredible Newbie

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    You can do both, however, they both require quite a bit of learning. If you are interested in stocks, I would begin with a simulation account. MarketWatch has some Virtual Stock Exchange games.
     
  9. S E O

    S E O Power Member

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    Every method had pros and cons so it's better we choose only on one method and do some good hard work
    Cheers
     
  10. Furious George

    Furious George Supreme Member Premium Member

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    I do both.

    Honestly, the thing about trading stocks, is that... you really need money to get going at it. The money you put into stocks can all vanish, in an instant. Last year I lost about 50 thousand dollars when google stock plummeted after the firm handling their financials "accidentally" released their financials at 1pm instead of at market close. I was scalping options, and I intended to get out at 3:55 to cover my ass in case the financials were bad, and resume scalping the next day. The 65k in options I had became worth 15k in less than a minute. The stock took too long to recover and in the end I ended up losing almost all of it. Of course, I have other investments, but this is an example of where money made some where else through really hard work can be GONE through no fault of your own. I had a heavy drinking session that day.

    The thing about internet marketing is that you really can't LOSE money unless you buy something you shouldn't have, like a WSO or subscription to SENuke without knowing what you're doing, like I did. However, unlike the stock market, you really can't LOSE money. Even when I bought thst WSO, I still learned to never give WF any more money. I learned to not use SEnuke again until I knew what I was doing.

    What did I learn from the market? Every penny you put in the stock market you have to be prepared to lose.

    Huge differences in the two, and quite frankly I don't think has ANYTHING to do with the other.

    Strong work ethic applies to anything, you get out what you put in... but comparing the stock market to blackhattery is like comparing bicycling to making pies.
     
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  11. The Mentalist

    The Mentalist Power Member

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    As George said, you'll need a lot of money to go into the stock market, unless you want to go into penny stocks and more volatile trading methods. But it isn't as simple as a stock simulator would lead you to think, so many rules and regulations. People who are banking off of stocks have hundreds of thousands invested...
     
  12. burglar

    burglar Registered Member

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    In my experience it has a tremendous amount to do with your personality and talents. For years I dreamed of making a fortune day trading and when I was laid off from my corporate job I decided that was my chance to give it a go.

    I spent countless hours researching it online and reading books. I was fully committed to becoming a day trader! It took me a while to get it through my thick skull that I was not cut out to be a trader. Technically, I didn't trade stocks but opted for futures (tied to the major stock indices) since the margin requirements were less demanding.

    Every day I spent trading I was a nervous wreck. Sometimes the markets would move so fast I'd gain or lose a good amount of money in just a few seconds! For me it was like treading water -- some days I lost and some days I won. I just always seem to break even or lose a little and could never make any headway no matter what technique I tried.

    Soon after I quit trading I discovered IM and found that I am much better suited to that. It's something I really love and it doesn't keep me awake at night worrying about losing money the next day.

    You absolutely have to have your emotions completely under control if you intend to day trade. I could never do that no matter how much I tried. You need to decide on a system and stick to it like it means life or death. You have to be like a machine.

    All of this applies to day trading and doesn't apply as much for those looking to invest for the long term.

    Some people turn out to be great day traders and really thrive on it. I'll stick with IM since I'm a lot less stressed and I have been a lot more successful with it than I was with day trading.
     
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  13. MagnifiCat

    MagnifiCat Newbie

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    You have to be relentless and emotionless, pretty much at psychopath levels, to be a successful trader. It requires tons of work and preparation, but the truth is, once you're there, it becomes boring! It's a GREAT job, but it's just boring when everything is going smoothly. Trading needs a LOT of discipline, so really, when you're not prepared to WORK, you're not going to make it. To me, trading is the best job in the world, but you just have to be disciplined and stick to paper plans. You'll also lose touch with family and private matters because you'll become too focused on your work as a trader and you'll have learned to ignore your feelings. It's devestating for your social life!