Comments on: What’s wrong with this ad? http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/ How to make 7 million in 7 years ... Sat, 11 Feb 2012 22:32:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Aleks http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-6270 Aleks Wed, 18 Aug 2010 21:34:04 +0000 http://7million7years.com/?p=3695#comment-6270 @Evan: but wasn't that initially what options where designed for, as an 'insurance' to be able to buy or sell underlying values? I think the problem arises when people start speculating heavily out of the money with short time spans, for example buying a put option hoping that the markets collapse, without actually owning shares. I am not an expert on forex, but wasn't it originally designed to cover for the risk of devaluation? @Evan: but wasn’t that initially what options where designed for, as an ‘insurance’ to be able to buy or sell underlying values? I think the problem arises when people start speculating heavily out of the money with short time spans, for example buying a put option hoping that the markets collapse, without actually owning shares.

I am not an expert on forex, but wasn’t it originally designed to cover for the risk of devaluation?

]]> By: Mike Hunt http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4090 Mike Hunt Fri, 11 Dec 2009 16:25:27 +0000 http://7million7years.com/?p=3695#comment-4090 @ Adrian, LOL. In this having fun doesn't mean maximizing returns. But I'm ok with that, at least in this moment in time.... @ Adrian, LOL. In this having fun doesn’t mean maximizing returns. But I’m ok with that, at least in this moment in time….

]]> By: Adrian http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4089 Adrian Fri, 11 Dec 2009 11:44:41 +0000 http://7million7years.com/?p=3695#comment-4089 @ Mike - "Buy low, sell high" ... the trick is knowing which is which ;) At least you're having fun! @ Mike – “Buy low, sell high” … the trick is knowing which is which ;)

At least you’re having fun!

]]> By: Steve http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4085 Steve Fri, 11 Dec 2009 03:07:21 +0000 http://7million7years.com/?p=3695#comment-4085 Never tried the FOREX Markets. Just seemed to me to be to much of a gamble.I looked at the situation on one of those sites that allows you to play with fake money. Still didn't impress me . Not much of a gambler I guess. Never tried the FOREX Markets. Just seemed to me to be to much of a gamble.I looked at the situation on one of those sites that allows you to play with fake money. Still didn’t impress me . Not much of a gambler I guess.

]]> By: Mike Hunt http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4082 Mike Hunt Fri, 11 Dec 2009 01:57:28 +0000 http://7million7years.com/?p=3695#comment-4082 AJC, Any money I've made in FOREX has been through just plain dumb luck. For example, I worked for a British multi-national while living in Asia between 2006 - 2008, my base salary was in Pounds but every month I would have the company convert this to US dollars (at bank rates) and wire to my US based account- wasn't a problem for them as they are a multi-national and hold lots of currencies. I got lucky converting Pounds to dollars in the two years where the pound was the strongest (exchange rates varied between 1.87 - 2.10 dollars to the pound, today is about 1.63). In early 2008 I left the company and any remaining money I had in pounds I converted to Singapore dollars. Now I wasn't fast enough to exchange USD into Australian dollars when the AUD plummetted so I still held on to USD based on the fact that I would need to ultimately spend in USD when I move back to the USA. Win some lose some I guess. I tended to use multi-currency to hedge between US & non-US currencies, and tend to sell one currency when it is stronger and buy the weaker one then reverse the process when the cycle changes. Not major gains to be made but a bit here and there and it's kind of fun to pursue this low level gambling. -Mike AJC,

Any money I’ve made in FOREX has been through just plain dumb luck. For example, I worked for a British multi-national while living in Asia between 2006 – 2008, my base salary was in Pounds but every month I would have the company convert this to US dollars (at bank rates) and wire to my US based account- wasn’t a problem for them as they are a multi-national and hold lots of currencies.

I got lucky converting Pounds to dollars in the two years where the pound was the strongest (exchange rates varied between 1.87 – 2.10 dollars to the pound, today is about 1.63). In early 2008 I left the company and any remaining money I had in pounds I converted to Singapore dollars.

Now I wasn’t fast enough to exchange USD into Australian dollars when the AUD plummetted so I still held on to USD based on the fact that I would need to ultimately spend in USD when I move back to the USA. Win some lose some I guess.

I tended to use multi-currency to hedge between US & non-US currencies, and tend to sell one currency when it is stronger and buy the weaker one then reverse the process when the cycle changes.

Not major gains to be made but a bit here and there and it’s kind of fun to pursue this low level gambling.

-Mike

]]> By: Adrian http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4079 Adrian Fri, 11 Dec 2009 01:11:15 +0000 http://7million7years.com/?p=3695#comment-4079 "Why wait two weeks you could turn $1000 to $35,000 in one spin of the roulette wheel in Las Vegas and get free drinks!" LOL @ Rick - Are you playing the Euorpan roulette wheel (one zero) or the American wheel (two zeros) ... I prefer the latter: if I'm going to lose my money, I like to get it over quick ;) “Why wait two weeks you could turn $1000 to $35,000 in one spin of the roulette wheel in Las Vegas and get free drinks!” LOL

@ Rick – Are you playing the Euorpan roulette wheel (one zero) or the American wheel (two zeros) … I prefer the latter: if I’m going to lose my money, I like to get it over quick ;)

]]> By: Rick Francis http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4077 Rick Francis Fri, 11 Dec 2009 00:28:14 +0000 http://7million7years.com/?p=3695#comment-4077 Why wait two weeks you could turn $1000 to $35,000 in one spin of the roulette wheel in Las Vegas and get free drinks! The problem of course is that while making large sums gambling or speculating is possible is ISN'T very probable. The chance of winning a straight up roulette bet is 1/38 or 2.63% so more than 97% of the time you go home broke. It seems speculation has even worse odds. -Rick Francis Why wait two weeks you could turn $1000 to $35,000 in one spin of the roulette wheel in Las Vegas and get free drinks!

The problem of course is that while making large sums gambling or speculating is possible is ISN’T very probable. The chance of winning a straight up roulette bet is 1/38 or 2.63% so more than 97% of the time you go home broke. It seems speculation has even worse odds.

-Rick Francis

]]> By: Ill Liquidity http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4075 Ill Liquidity Thu, 10 Dec 2009 22:40:10 +0000 http://7million7years.com/?p=3695#comment-4075 lenders, market makers, fund managers, banks / brokers, trading "educators". There is money in day trading if you are on the right side. lenders, market makers, fund managers, banks / brokers, trading “educators”. There is money in day trading if you are on the right side.

]]> By: Andee Sellman, One Sherpa http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4074 Andee Sellman, One Sherpa Thu, 10 Dec 2009 20:06:07 +0000 http://7million7years.com/?p=3695#comment-4074 Great post Adrian, I've always wondered about people who tried to take on the banks and financial institutions. It's like standing in front of an elephant and trying to steal food off him. All he has to do is put one foot on you and you're DEAD. Amazing how so many people who know nothing about something, decide that because someone who they don't know can tell them the answer to their life's money problems, they blindly follow hoping all will work out. It's like a mirage. Looks really great from a distance but when you approach it there's nothing there to get a hold of!!! Great post Adrian,
I’ve always wondered about people who tried to take on the banks and financial institutions. It’s like standing in front of an elephant and trying to steal food off him. All he has to do is put one foot on you and you’re DEAD.
Amazing how so many people who know nothing about something, decide that because someone who they don’t know can tell them the answer to their life’s money problems, they blindly follow hoping all will work out.
It’s like a mirage. Looks really great from a distance but when you approach it there’s nothing there to get a hold of!!!

]]> By: Kohti taloudellista riippumattomuutta http://7million7years.com/2009/12/10/whats-wrong-with-this-ad/comment-page-1/#comment-4072 Kohti taloudellista riippumattomuutta Thu, 10 Dec 2009 19:11:07 +0000 http://7million7years.com/?p=3695#comment-4072 Hi Adrian, you can read my own experiences of daytrading here: http://www.taloudellinenriippumattomuus.com/2009/07/kokemuksia-paivakaupasta.html I tried to make a living of it for a half year. Didn't work out. Guess I'm part of the 99,84% investors out there :) Well...lessons learned. Hi Adrian,

you can read my own experiences of daytrading here: http://www.taloudellinenriippumattomuus.com/2009/07/kokemuksia-paivakaupasta.html

I tried to make a living of it for a half year. Didn’t work out. Guess I’m part of the 99,84% investors out there :)

Well…lessons learned.

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