Las Vegas revisited

Tuesday, July 24, 2007

Would you believe if I said I've been visiting Vegas atleast 3 times a week the past month? May not in the literal sense but it is a trip to Vegas every bit every day experience wise. It was December 2003 when we first visited Vegas, a day after Christmas, to be precise. We had a lot of fun in that trip, thanks to the Casino hopping.

My tryst with the stock market began two years back when a former employer allotted 56 shares in the form of ESOPs. I got them into my Demat account and never did much with it. Thank god for that. It was a golden goose that just sat there and reaped us over 100% profits. Then it all changed in December 2005 when our fondness for the markets grew. It was also a coincidence that I began work on a project for Credit Suisse around the same time and we started putting together our finances well, so I started getting a grasp of the fundamentals of banking, capital markets, trading and such. Our interest in the secondary market grew and V pursued it. With Lil General on the way, one thing led to another and I left it mid way to pursue it again now.

If you want to know how to lose money, ask me for tips :) I've lost more money in the last 3 weeks than I've gained. Ofcourse, I've not lost a lot because I don't play big. If you don't play big, you don't win big. This is why I said it is like visiting Vegas everyday. At Vegas all we did was spending time on the slot machines with a $20 bill every time. What do you expect of an Indian techie on a project on a H1 visa? Whatever you win goes back just to lose some more. You never have enough of it. I call it quits to day trading everyday just to go back the next day. It is addictive.

Day trading is exactly like this for me. I don't play big. I don't know the rules of the game. I am learning the tricks by playing small. I had my first small success on a margin trading call today. That kind of squared off all my losses till date.