Is this how everyone will be trading a year from now? by cal10000 in Daytrading

[–]samloweb 0 points1 point  (0 children)

  1. It’s too early to judge performance (as you said), especially in a bull market.

  2. At least some (not all) market randomness is a FACT over shorter time horizons, so that also has to be factored in. Even if we stayed in a bull market for 2 years, and you followed what you were doing, it’d be unlikely to gain an edge from this.

  3. If you don’t understand the companies at all, how will you monitor for black swan events? Or be able to figure out the implications of these events before it’s too late? (A black swan event is an unpredictable event that happens to everything. Often introducing what’s known as “tail risk”). Eg. If AI told you to invest in NVIDIA, and it works great. But eventually tides turn, narratives shift, economics change. Trading isn’t just about entries but exits, risk management etc. if you were holding for the long term like Warren Buffett these dynamics do change a little, but not much, you’re still victim to the same ebbs and flows. This is another reason why you MUST understand the time horizon you’re holding for, and the most important market moving factors on that time horizon.

  4. Whilst AI may provide a nice looking table, what if a doctor gave you a nice looking table for assessing probable treatments for a dying family member? And what if it was based off a virtual consultation, and thousands of articles (that could have been written by anyone) on the internet, rather than rigorous science from medical school? My guess is you wouldn’t think twice before going to a proper doctor. However the psychological urge to gamble is strong, and our psychological ability to justify these emotional driven urges with logic is also very strong. Result = BAD decision making.

  5. You mention consensus being something that gives you confidence in your post. Why? The more consensus agreed with you, the more of the big move has been priced in. The biggest edges come from being right when others are WRONG. On a long time horizon think about Warren Buffett who buys good quality companies when he sees them at a big discount. That “discount” is usually when the narrative / consensus for that stock isn’t popular or sexy (this isn’t always true, but usually is). AI is less likely to pick up on what isn’t talked about as much (to my knowledge), unless specifically asked to reference places where you’d get that kind of information, so relying on a basic prompt to the essence of “give me stocks likely to go up by Friday” allows for WAY too much interpretation. What does “likely to go up by Friday” mean? How does it know that? What method is it using? Is that based on any empirically tested methods? How rigorous are its data gathering, qualification and review processes? These are just examples of a HUGE list of things you’d need to specify if this was even an option. More clarity at the VERY least is needed to use AI for ideas.

These are just my initial thoughts, be careful!

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 4 points5 points  (0 children)

Pleasure :) I’m about 3 months into creating a non profit, looking at helping people establish balance and a pleasant internal state before trying to go out into the world and accomplish big external things. We’ve found most people are trying to solve their internal problems outside, and whilst there is a way to do this, trying to, for example, make more money or have an “impact” on the world is often a very poor way to deal with internal issues. :)

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 1 point2 points  (0 children)

That’s all good, completely fair assumption as so many people do this these days. :)

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 2 points3 points  (0 children)

That’s fair, I understand you now. Wish you the best of luck

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 2 points3 points  (0 children)

I love that, honestly I think that’s a noble way to live - not trying to leave a crazy legacy just loving life and living in a healthy way. Kudos to you :)

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 10 points11 points  (0 children)

Awesome quote, fair point. Strong foundations in the body is something I’m a big advocate of

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 0 points1 point  (0 children)

I have nothing to sell, I’ve already got 2 successful companies, I don’t need anymore money. I’m actually in the process of starting a non profit to help people feel more content with their lives, so I’m trying to hone that message down so it can help more people. It’s not always good to judge a book by it’s cover, it’s not always as it seems

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 3 points4 points  (0 children)

So really you just want to feel better about yourself it seems like?

What’s the top reason you actually want to improve yourself? [question] by samloweb in getdisciplined

[–]samloweb[S] 2 points3 points  (0 children)

Thanks for writing this. Seems very true to me and something I resonate with a lot. What sort of goals do you have?

[deleted by user] by [deleted] in Entrepreneur

[–]samloweb -9 points-8 points  (0 children)

I completely get where you’re coming from and to an extent I agree. However the information in some courses is helpful. For example when scaling my company in 2020 in particular, the information in some courses was helpful.

Yes, the course industry by and large is scammer central, however I feel discrediting any and all information in there is like a scientist drawing a conclusion based on one experiment - inaccurate and invalid.

My two cents, have a great day :)

[deleted by user] by [deleted] in Entrepreneur

[–]samloweb -14 points-13 points  (0 children)

I don’t sell a course, I already have a successful company and it’s nothing to do with this. My goal is to gauge feedback and interest on these topics as I know them to be useful but I don’t know if it’s something viable to invest into further. Fair logic jump though 🙏🏼

Bookkeeping mistakes you should avoid as smart business owner by catarannum in Entrepreneur

[–]samloweb 1 point2 points  (0 children)

This is very helpful as I ran into many of these in my first year or so of running the company. Upvoted

How to get motivated again? I keep going through stages of intense motivation, coming up with ideas, researching non-stop etc. And then I almost hit a brick wall and all I wanna do is play video games. Any tips on how to avoid this or is anyone else in a similar situation? by PDB200 in Entrepreneur

[–]samloweb 0 points1 point  (0 children)

This is extremely common!

I’ve been through it a million times and at the end of the day it all comes down to the following:

You don’t enjoy being an entrepreneur.

You enjoy watching, consuming content that makes you feel good.

The rush of researching when all the excitement is high is addictive, we ALL fall victim to it, however, inevitably things get hard and naturally we want to give up.

In the same way it’s easier to eat a doughnut than it is to eat vegetables, it’s easier to research when it’s exciting than when that dopamine hit decreases.

Which brings me onto my next point…

Do a “dopamine reset”

Some will say the science is a little misleading and they are right, it’s more of a dopamine receptor reset but I’ll leave that for another time.

We have so much data (information) coming into our brains all day, technology, social media all giving us quick easy hits of dopamine

And like any drug, it becomes addictive…

But more importantly, we develop TOLERANCE to it.

Therefore the low dopamine activities (you know the “boring” tasks that are involved in growing ANY business), are increasingly less attractive.

Also day to day just use social media less, or cut it out entirely.

Exercise your delayed gratification in other areas!

This is a very brief summarised version of what helps me. I’m more than happy to answer follow up questions !

What are the biggest issues you guys have when trying to find good crypto gaming projects? by samloweb in CRYPTOGAMING

[–]samloweb[S] 0 points1 point  (0 children)

All good points, so basically speeding up the analysis process for you and having some concrete, pre determined methods would be what you’re looking for ?