Click bait!
OK, I did win $510. (I guess I can splurge on CNY goodies?)
4 numbers x system 8 = $460
3 numbers x system 7 = $40
3 numbers x ordinary = $10
A far cry from the 2 lucky souls who won $5 million each last Friday...
Oh well, at least I did win some of my capital back for future draws. Wink.
Anyone into Toto will know we only care about the first two prizes. Any other prizes is just recycling of capital back to dump back in.
So did I really "win" $510?
No.
I've been buying Toto for 30 odd years now. Never won the first two prizes. Which meant I need to win the first two prizes before I die in order to "win" at this Toto game.
Net, net, I'm still underwater.
Come to think of it, Toto is a lot like the PG version of the Squid Game - the many lose so the few can win.
Why am I sharing this?
This is how we snake oils use half-truths, or truths without context, to sugar-coat what we spin until like got dragons and phoenixes!
There's this running joke in the trading community:
How to have a million trading options, forex, futures, CFDs; or any other instruments of mass destruction?
Start with 10 million.
Trust but Verify. Few do so.
During my weekend sales gig, you'll be surprised how many "educated" customers fall prey to simple selling tricks or gimmicks.
I mean how much can we lose buying the "wrong" home electronics or appliances right?
Overtime, we become better with each "crash got sound" experience.
Imagine if you never bought any home electronics or appliances on your own ever your whole adult life, now in your 60s and flushed with money, do you think you'll make better consumer buying decisions than someone who has been buying, repairing, and replacing these durable goods for 30 to 40 years pior?
It takes practice to see through Lies, damn lies, and statistics!
Even if you any O how buy appliances once every 30 years.
ReplyDeleteKena chop also not so bad, maybe over pay by a few hundred plus minus.
The appliance can use for a couple of years...
Go for those trading course one time already couple thousand, then sign up for subscription, and throw in some trading losses... in the end may have nothing to show for it.
ERSG,
DeleteThat's why its better to get ourselves "inoculated" when we are young ;)
Explore and experiment with all sorts of foolish and crazy things! We are only young once! Just don't do drugs.
Even if we make a mistake, how much can we lose?
There's time to recover.
And in the process, we discover who we are, what we are made of!
Better this than to play it "safe" all our lives, wait till we have loads of "resources" in our 60s, suddenly discover our animal spirits to make up for lost time...
Blissfully not aware we are vulnerable bei kambings despite our advanced age; when all we got is 1st year "investing" (or savings) experience times 40.
Using my Toto example, a bei kambing in his 60s can easily be fooled if he doesn't know how to ask the right questions...
The 3 Toto tickets cost me $36.
A snake oil can spin that's how you make 14 times your money in 1 day! Easy!
Of course I didn't pay $36 for the draw; I bet $50. Two other system 7 tickets expired worthless ;)
Similarly, I can say I made $50K during one day trade. Impress the panties off you.
What I didn't tell you is I also lost $200K in 4 other trades during the same trading day...
Or I could spin I made $500K trading for 2021! Conveniently leaving out I lost $1 million the previous 3 years...
Without disclosing context, half-truths are one of the best snake-oil techniques to pool wool over bei kambings' eyes :)
Hoseh liao! Now can re-invest for $5M this Friday!
ReplyDeleteCW,
DeleteYup, will recycle part of the winnings and make another $50 bet for this Friday's Toto!
Those who are less attuned to risk management or position sizing may throw all the $510 winnings back...
That's how most newbie traders give up most of their big winnings back to the market.
Easy come; easy go.