said by rradina:Let's not call this "making" money. This is wealth transfer. It's being transferred from someone stupid enough to buy a crap stock to someone else gambling with their money.
This will
really date me but when I was in high school one of my classes played a hypothetical stock market game. They gave us each $500 and we were allowed to buy and sell each day based on stock market reports. I started out with a (then) quality blue chip stock -- General Motors. It was expensive (~$30/share) and it didn't vary much from day to day. I ended up losing money. Then I recognized that I needed more shares if I was to make quick money. So I bought Braniff and Pan Am (both barely had their head above water...) for ~$1 each. The price of their stock would fluctuate an 1/8th on almost a daily basis. I bought a bunch, held it until it would go up and sell it. When either went back down, I would buy it again. I ended up winning but the teacher didn't much care for my strategy. She didn't exactly say I was a crook but she frowned on my tactics.
Uh, those tactics are winning tactics by most day traders. If you made money, then you should win the game. If she really didn't like that she probably didn't like the idea of anybody shorting stock either, lol.
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