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michael parness...

Topic closed. 4 replies. Last post 11 years ago by justxploring.

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Honduras
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August 29, 2005
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Posted: May 4, 2006, 2:07 am - IP Logged

Guys, i mention this to make a point. i've heard about michael parness and his sytem. do you all believe what he says. that you can make money off the market even if the stock market is down. i don't know if is true but if that was true then why bet on lotteries. I say this because who wouldn't love to make money off the lottery (i am sure that's every player's dream). what's you all opinion...

 

pumpi76

    justxploring's avatar - villiarna
    Wandering Aimlessly
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    Posted: May 4, 2006, 3:45 am - IP Logged

    I don't understand the question. They're 2 different animals. I don't know anything about the system you mentioned, but it's entirely possible to make money during a bear market if you pick the right investments, but it's a gamble too. (By the way, the market isn't down this year.) Most people who do well in the stock market and have a diversified portfolio will average 8 or 9% over time like 15 or 20 years.  There are those who make much more.  Sure you can double your money in a matter of months by purchasing individual stocks, but you can also lose every dime trying to time the market. It's always a good idea to put 5% or more of your salary in a low risk retirement account every month if your company doesn't offer a 401K, but I hope most people on this board aren't spending that kind of money on lottery tickets. If they are, then I hope for their sake all their other financial obligations are being covered first.

    If you are talking about making money quickly in short term investments, you would need to have a lot more cash than it takes to buy a few lottery tickets every week. 

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      Honduras
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      Posted: May 4, 2006, 4:11 am - IP Logged

      UHmmmm, ahahaha!!!Why i always hate to be right!!!thank you, justxploring but i know. By the way nice "picture"...

      I thought the stock market could be up some days and down others...am i right or wrong on this one?

       

      pumpi76

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        Posted: May 4, 2006, 4:12 am - IP Logged

        i havn't used the michael parness system

        but i know someone who looked at it in a free trial and highly recommends it.  this person makes a killing in the market

         

        stock market is the place to be

        you can make thousands and even millions in ANY market...bull or bear...although bull is easier

        you just have to understand momentum

         

        when i get back to full time trading, i'd going to look into subscribing to the parness system.

          justxploring's avatar - villiarna
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          Posted: May 4, 2006, 4:48 am - IP Logged

          UHmmmm, ahahaha!!!Why i always hate to be right!!!thank you, justxploring but i know. By the way nice "picture"...

          I thought the stock market could be up some days and down others...am i right or wrong on this one?

           

          pumpi76

          It always goes up and down. You have to decide how much risk you can take and if your stomach can handle the fluctuations.  I made 125% one year and then lost 60% which means I had less than what I started with. You understand that, right?  Let's take a figure like $50,000 and add 125% to make $112,500. Now the same stock or fund drops 60% and you now have $45,000.  So you really only lost $5,000 but in your brain you can't stop thinking about that $112,500. If you're the type who can shrug something like that off, then go for it. But I always recommend conservative investing, with no more than 40% in aggressive growth, depending on one's age.  The older you are, the less time you have to recoup losses.  Look at Lucent, for example. I remember when it was selling for $80 in '99 and I think it's selling for $3 a share now. 

          Anyway, I still don't think this has anything to do with the lottery.