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Ended my gambling career (for now) on a high note - jackpot handpay to end 2020. My thoughts and ramblings as a now-retired gambler.

Warning: long rambling stories ahead. I am bored and waiting to get through my first day back at work since before Christmas. You've been warned!
I've been going to the casino pretty regularly for the past few years. Before that, I played occasionally. I exclusively play slots. I view it as a night out - first with friends back when I brought $50 and played penny denom minimum bet spins and prayed to win $20, and then eventually shifting my mindset to playing higher bets and denominations. I hit my first jackpot handpay a couple of years ago. I hit $3700 on a $27 bet on a Geisha machine. I've hit a few other jackpots here and there, culminating with my biggest jackpot ever this past summer. I hit $12K on a $50 bet on a Pompeii slot machine.
Well, the long story short is that I have fallen out of love with gambling. I have somehow managed to have a positive ROI on gambling. I track my withdrawls and win on a spreadsheet. To put it bluntly: I have been extremely lucky over the past few years. I know that slots are not a viable way to win money in the long run, so I made a decision a few months ago to "retire" from gambling at the end of 2020.
I went to my local casino last Wednesday. It just so happens when I hit a jackpot that I usually do it within the first half hour or so I'm at the casino. Well, it happened again. After going up $600 or so on another slot machine (I don't remember the name), I went to one of my most hated/favorite old school slots - Zeus dollar denomination. One of my worst moments in all of gambling was a few years ago. I got a bonus round on the Zeus dollar denomination on max bet of $45 a spin. I was BEYOND excited. I've seen Youtube videos where people have won tens of thousands of dollars in that exact scenario. Much to my shock, I won nothing. In that game, you don't win anything for triggering the bonus. So I actually *lost* $45 on getting the bonus. I cashed out and left immediately.
Anyway, last week I hit a modest $4500. It was exciting...but not as exciting as I thought it should be. I was cool, calm, and...detached. The wins didn't mean much to me, and the losses mean absolutely nothing. My wife and I are in the EXTREMELY fortunate position that losing $500 or so every week or two at the casino is affordable. I'm not ignorant to how lucky we are to be in this position.
After getting paid out, I played a bit longer. But that hand pay drove home the realization that I had a few months ago: it was time to stop gambling. If I can't get pumped about a big win like that, and if I'm not even phased a little bit by losing, it's just not worth gambling any more. I used to go for entertainment, but even now gambling doesn't provide that much.
As I sit now, I am up roughly $18K over three years of slots. Not bad, but not life changing. Enough that I bought my wife a Burberry and Louis Vuitton handbag on separate occasions. The rest if stashed in savings or in an investment account somewhere. But I am 100% committed to being done. At least for 2021, and probably longer.
If anyone is interested in hearing my thoughts on how to win...I don't have any insight to share. It's luck. I got lucky. I know I got lucky. The usual tropes about setting win and loss thresholds is good advice. Sometimes I chased payouts and hit them. Sometimes I chased and lost. But I managed to hit more than miss, and for that I'm lucky. And thankful.
Anyway. I don't have a major takeaway or anything. I don't have many people I can talk about this with in my personal life, so I figured I'd share a bit of my story here.
If you do gamble, please do so responsibly. Good luck, and try to have fun. If you're not having fun, it's probably not the right way to spend your time or money.
EDIT:
I just wanted to say to anyone who reads this in the future that I appreciate the nice responses and PMs from people. It's nice to share a positive experience with others! I sincerely hope that if any of you choose to play in the future, you choose to do so responsibly. Gambling can be a hugely problematic lifestyle for some people. Stay safe. (end of preaching here).
I also want to take a second to address some comments from some people about slots being skill based. This is 100% false. The concept of slots being skill based in any way is demonstrably untrue with three seconds of reasonable thinking. If we accept that there is a hypothetical slot game which is based on skill and not pure luck, what are the consequences of that? First of all, this information would leak out. There would be no way to contain it. If one person can solve the system, another an as well. Subsequently, someone would write a book on the subject. Think about all the poker and blackjack strategy books out there. These are games where skillful play can increase your odds of winning. Last I checked, there aren't any books or Supersytem-level analyses from prominent individuals willing to stake their names and reputations on publishing a "slot technique" book. There's a reason for this. And also - think about this: casinos still carry blackjack tables for a reason: they still have an edge to win. If there is a surefire way for individuals to win when playing slots, casinos would 100% for sure take these games out of circulation. Casinos are not in the business of giving away money. Any claim there is a foolproof way to win money playing slots does not make sense when critical thinking is applied to the circumstances.
Slots are not like card games. Finding and playing only games where there is a "must win by" progressive is not the same thing as skillful play. That's more akin to something like card counting in blackjack. Many people who design slot machines and engineer the software behind the scenes have posted on Reddit and elsewhere that wins are based on random number generators running behind every spin. There is literally no skill involved - you win or lose each spin based on pure random luck.
I am saying this because there are a number of people who come to this subreddit to look for ways to cheat the system and get easy money. I see posts like this fairly often, and I'm only browsing this subreddit occasionally. Gambling is not, and should not, be a way for anyone looking to make a quick buck. If you're looking to get an edge playing slots because you need to pay bills or make a quick buck, you are already in serious trouble. Do not buy into the delusion that you can get an edge or guarantee a win. People saying this are snake oil salesmen who do not care for you or your well-being.
Anyway. I'm going to stop monitoring this post. I'm still open to receiving PMs or messages, but I've had my fun with this so far. I could do with fewer trolls, but this is the internet. I knew what to expect. Bon chance, everyone!
submitted by Creepy_Zucchini6387 to gambling [link] [comments]

I think it really needs to be said that for any new character, especially 5 stars, high levels of skepticism and scrutiny should be the default.

The negative reaction to Zhongli is thus, good. This is how it should be. But this goes for all banners, past and future.
If someone tries to convince you a new 5 star is underwhelming, and someone else tries to convince you they're the hypest, the best, OMG, so good, I'm so lucky to have them! What you should do, is consider the price tag. While this is effectively all just a casino, there is some monetary benchmarks we can use. You are guaranteed a 5 star after 90 pulls, though most people due to soft pity starting at 76 will probably get it sooner, like 80ish. So let's say for simplicity, it takes 80. That's 12800 gems. If you buy the 100 dollar gem pack for the first time, you are given the "bonus" of double gems, which comes to 12960. However, unless you already got a non-event 5 star on the event banner, you actually only have a 50% gamble to get the proper character. You'd need enough for pity twice to guarantee, but a subsequent purchase of 100 dollars yields only 8080 gems. What this means is, basically, anyone trying to sell you on a new 5 star, may as well be trying to sell you on an over $200 digital purchase for a single character (and even if you have the 100% event character pity primed and ready it's still a 100+ dollar which is still outrageous, let's be real). It might cost less, but, you shouldn't assume it will. This is a casino, you're gambling. What it takes to assure the content you want, is over 200 dollars.
If someone came up to you and tried to convince you to just splurge on a 200 dollar little...micro-DLC in a game, you should really meet them with the utmost skepticism.
It's also important to realize when someone says this character is kinda meh, and someone else says this character is GREAT, these are not equivalent statements in their weight. One is trying to get you to spend considerable money and/or resources, one is cautioning you to refrain or strongly think about before proceeding. If you listen to the one with a negative opinion, the consequence is that you won't go for the character for now, and...they aren't going anywhere any time soon, the banner is up for awhile, plenty of time to think and learn more. But, if you listen to the positive opinion, and you go for the character, you can't take that back. If you don't get them, or you do and feel underwhelmed, or disappointed, you just lost out, and there's no undoing that, there's no refunds in a casino.
So keep that in mind. And this imbalance is also very well known, I assure you, by Mihoyo, and any gacha dev. You should be suspicious of glowing praise of a new character, because who stands to gain from that? Who gains, if a new 5 star is the new hotness, everyone wants them, gotta have them? Mihoyo does. It directly correlates to them making a lot more money. So ask yourself, hey, why does this random person on the internet, want so badly for me to try and get a 200+ dollar character? Could they actually be...an imposter among us?! It seems pretty sus. The same is even more true for youtubers. It's no secret they can and do receive kickbacks from companies, and not all of them will necessarily be so easily disclosed through clumsy in-game mail on stream...
People trying to sell you on a 5 star character, may have an ulterior agenda, one that does not have your interests in mind at all. Even if that agenda is simply to be contrarian or zealously defend a lower tier "underdog" character, as some are simply predisposed towards doing out of bias.
So, please be careful, and skeptical, for now and in the future. They are very valuable traits to have, for all things in life.
submitted by Lunesy to Genshin_Impact [link] [comments]

I am 36 years old, make $66,900, live in Portland OR and work as a Data Coordinator.

Section Zero: Background
Hello all, happy hoildays! I stumbled upon this subreddit not long ago and have enjoyed the commentary and experiences everyone's shared. Wanted to add another perspective from a mid-30s first-gen American. I've had some missteps regarding careers and finances, but I feel like I'm in a slightly better place now. I tried YNAB in the past but I wasn't consistent enough with it. These days I use Mint to monitor my finances and have a "Finance Friday" each month to review all my accounts and spending. I currently live with my partner TJ and his dog RR. We do not combine finances, but he has been unemployed since March. I have helped him with some bills and basic necessities here and there until he finds his next job or career.
My current financial goals are to just maintain a status quo and not get any debt until pandemic times are over. Then I will focus on a house remodeling fund and savings for taking care of my parents.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances? My parents taught us about money from a frugal perspective. They are immigrants who worked in food service/factories. There was always this “save save save” mentality. Even when they started their own small business, we saved like there was no tomorrow. In high school, my calculus teacher bought us all “The Millionaire Next Door” book and had us read it as an assignment - that was my first structured introduction to finances.
Did you worry about money growing up? No, there was always food on the table and a roof over our heads. I knew that our extended family would support us if needed.
Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it? Yes. My dad didn’t finish the high school-equivalent in their country, while my mom did finish high school, but no college. My older and younger siblings took a different path in life after high school. I am the first and only in my family to graduate from college. My parents covered all tuition for my two bachelor degrees with the agreement that I support them fully during their retirement and send them gifts/extra money whenever I can. I feel very lucky and privileged that they were able to provide that education for me.
At what age did you become financially responsible for yourself and do you have a financial safety net? 24 when I went on a work holiday abroad. My family was always available to help when needed, but the experience abroad helped me stand on my own feet. As an adult, I also inherited that “save” mentality and put a lot of my earnings towards savings. I didn’t date until my 30s, lived frugally, didn’t go out to eat/hangout with people, shopped thrift stores, and had very few hobbies. I am starting to “live a little” now though.
Do you or have you ever received passive or inherited income? Aside from the tuition, my parents have helped with a down payment for my first house and living costs during periods of unemployment.

Section One: Assets and Debt
Retirement Balance
If the place I was working at offered a 401k, I would always contribute up to the company match. I started my IRA in my mid-20s and would try to contribute the yearly max. I've stopped that the past 2-3 years though. My Other Brokerage is some play money, but I got tired of staring it and switched to index funds. I haven't contributed anything to it in a few years.
Equity if you're a homeowner
Purchased my first home for $382,000 with 20% down, right before lockdown earlier this year. Perfect timing, right?? I plan to live here until my retirement. My parents contributed $15k while I used most of my savings for the rest.
Savings account balance: $3,073
Checking account balance: $7,800
Credit card debt: I charge everything on my credit card for the points, then pay it off each month using my checking account balance.
Student loan debt: Traditionally no student loan debt as mentioned in Section Zero.

Section Two: Income
Income Progression (listed as gross income with cost of living area):
High School
College and first “career” job
Mental health break
College (again) and second “career” job
Third “career” jobs

Main Job Monthly Take Home:
Monthly Net (paid bi-weekly): $2,758
Deductions:
Side Gig Monthly Take Home:
No side gigs at the moment, but I am thinking of signing up on Upwork.com and doing Excel/data entry projects to help pay the mortgage.
Other Income: TJ’s friend will be staying with us for a month in January, who will pay rent of $800 including utilities. Depending on how that goes, we may take on a roommate in the spare bedroom long-term.

Section Three: Expenses
Mortgage - when I bought the house, the plan was that I would charge TJ a portion of the mortgage costs as “rent”, but since his unemployment I am now covering it all myself.
Regular Monthly Payment: $1677.57
HOA: $30/year
Retirement contribution: Nothing additional than what's been mentioned.
Savings contribution: I used to do $50-100/month, but since COVID I’ve stopped contributing to my savings account.
Investment contribution: None at this time.
Debt payments: $100/month towards TJ's credit card balance of $2,307.
Donations: $10-20/month, usually towards Omaze or Planned Parenthood.
Utilities:
Cellphone: On my parents plan.
Subscriptions:
Gym membership: Pre-COVID I did Orangetheory for a year. I started to pick up free exercise equipment from Craigslist this year, so we have a small garage gym now and utilize YouTube exercise videos instead.
Pet expenses: $10/month. TJ has stockpiled some Costco canned dog food before unemployment, but once that runs out I will likely cover the costs. We also started to make homemade dog food to help supplement.
Car insurance: $460 every 6 months. Car is paid off.
Regular therapy: I will start in the new year. Not sure what the costs are yet, but I will use my HSA to pay.
Vitamins/Medications: $20/month
Groceries & household items: $75/month
Miscellaneous (eating out, house purchases, gifts, etc): $100/month

Section Four: Money Diary
Monday
6:30am Neighbor starts up their truck. We joke that it's our natural alarm clock. They idle for about 15 minutes before heading off. I go back to bed.
9am My real alarm goes off. I put the electric kettle on for some morning tea. While it's boiling, I do my morning routine: drink glass of water, take synthroid, use bathroom, brush teeth, quick shower. I then make tea - Jasmine Pearl English Breakfast with dark forest mix. I started ordering loose leaf tea in large amounts back in March instead of small bags or single serving packets. Seems more economical since I drink it daily. I let the dog out into the backyard so he can do his morning routine.
9:30am I go through my daily tasks for work. They entail checking processes and reports to make sure they ran successfully overnight. I then answer some emails and catch-up on Slack channels.
12pm Lunch is leftover roast chicken and quinoa from Saturday. I heat it up in the instant pot. Love that thing! Almost every meal of ours involves the instant pot. We hardly use the stovetop. We then walk the dog to the business park across from our neighborhood. There's a very short trail that runs along a drainage creek by the business park. It's quite muddy, but has a nice woodsy feeling. Over the summer, we saw sumac trees there as well. Free sumac spice!
1:30pm Department meeting on Zoom. Our director announces his resignation on the call. Everyone is shocked! Layoffs were announced for next year but this was not a part of it. I think it's a good move for him and he doesn't have to have this worry of layoffs over his head.
3pm I meet with an engineer from another team and talk about a data source they are in charge of. He helps me out in understanding it and we identify most of the fields that I need for a project I’m starting.
5:30pm I check in with my partner. He's been watching LinkedIn tutorials on internal recruiting, job coaching and general computeoffice skills. It's a career change that he wants to make - something where he can talk to and help people. He doesn't have a bachelor's, only an associates, and hopes these tutorials will get him a leg up in the job search. I sent him some entry level HR admin roles the other day and remind him to apply. I then heat up leftovers: homemade chana masala and rice. I add some butter and coconut milk to thin it out, so there's enough for both of us.
10:30pm I take some magnesium, vitamin D and Airborne. I say goodnight to the dog who sleeps in the office. Then I say goodnight to TJ. He sleeps in the spare bedroom on weeknights due to his snoring keeping me up. I'm a light sleeper while he is a pretty deep sleeper.
Daily total: $0
Tuesday
9am I check Reddit Secret Santa. My match seems like a really good person. Not sure what to get, but most likely will purchase something off their wishlist. I wish I was more creative with my gift giving.
11am Meeting with business stakeholder. She submitted a few changes to an existing data process about a month ago. I make the change while on the call and have her test. Success! Marking it off the todo list. I love when we can finish things directly on a call.
12:30pm I come out of my office to make lunch. I notice my partner is not home. I check my messages and see that he's stepped out to pick up a few things. I ask for celery, carrots, and kombucha. $17. I make a quick charcuterie board for lunch: Costco salami, cheese, homemade hummus and Triscuits. It's a simple, fast meal that’s always in our rotation.
2pm My partner is back and we take the dog out for a walk and quick round of disc golf at a nearby park. We mask up and play only a few holes. Disc golf is a pretty frugal activity, you only need 2-3 discs to get started. TJ remarks that my throws are getting better, but then again they weren't great to start with. We talk about Christmas/Birthday gifts on the way back home since he was born on New Years Day. He mentioned snowshoeing but asked to not spend that much. I'll do some research!
5pm I think about personal career projects. Should I put up a portfolio of projects somewhere? I decide to try and pull some Yelp data. There’s not a lot of data points that I was interested in. Regardless, I tinker with it for an hour. TJ asks if I'm hungry. I said not so much, but felt thirsty. Maybe some ginger soup tonight?
7:30pm Dinner is served - ginger carrot soup made in the instant pot. We eat some rice crackers with it. Lately I feel like we've been eating more vegetarian dinners. It definitely helps stretch our food budget. We end the evening by finishing Fargo season 3 on Hulu.
Daily total: $17
Wednesday
1:30am I'm woken up by the dog. He's been sneezing a lot and wheezes at random intervals. TJ doesn't have the money for a vet visit but I've offered to pay as long as he calls to make the appointment. I give the dog some coconut oil, rub his belly until he seems better and go back to bed.
7am Garbage day. We usually put it out the night before but I forgot. I get up to go, but TJ handles it. I think, at least. I'm too sleepy to pay attention and go back to bed.
9am I wake up and rinse some dishes that have piled up and put them into the dishwasher. We both grew up in households that had a home dishwasher, but forbade from using it. It was drilled into us that hand washing saves more water, unless you had a restaurant/industrial dishwasher. I think with modern home dishwashers, that's changed, so I wanted to try it out with our dishwasher and monitor the water bill. Don't have any dishwashing pods or powder, so I put some OxiClean in it.
12:30pm I overhear TJ on a call with a recruiting agency. It seems to be going well, lots of laughing. I heat up some taco lasagna that I freezer meal-prepped last month.
2pm Collaborate on a project at work with an engineer. My manager put me on this project since I was asking for an assignment on a more technical team. I'm learning tidbits here and there, but I don't feel like it's structured enough.
5pm I do an Orangetheory-At-Home workout and try to break a sweat. It's not the same as going to their studio.
6pm Charcuterie for dinner. Our fridge is full of store-bought and homemade pickles that go super well on a charcuterie board.
Daily total: $0
Thursday
7am I wake up tired. The house has been feeling more cold, which woke me up a few times. We keep the temp at 72F during the day, at night around 68F since we thought the bedrooms keep the heat in pretty well. My mistake!
9am I do my usual morning routine and login to work. My team mostly spends the morning sending each other emojis.
11:30am Lunch today is mini quiche, frozen chicken and veggie entree, and hot dogs. Not the most cohesive meal, but it fills the belly.
12:30pm TJ heads out to his mailbox that's 30 minutes away. He is still waiting on his tax return and a 401k withdrawal. His taxes had to be filed by mail for some reason, then the IRS office shut down due to COVID. So he wanted to see if it arrived yet at the mailbox. He also takes the dog to the vet's urgent care on his way. They didn't have any regular openings available until the end of the year, and the dog seemed to be getting worse. I give TJ $40 to mail a gift package to a friend in France and also reiterate that I'll cover the vet bill when he gets it.
4:30pm I pay some bills, my favorite activity (not)! Sewer bill: $59.44 (billed every 2 months). Geico bill: $459.60 billed every 6 months. Then I follow up with my mortgage officer over email. I had sent her some documents for a refinance quote last week, but haven't heard back. Rates keep dropping, so I'm told, but what does that really mean? I do some research on realestate.
5pm TJ messages me and says he'll be back for dinner. I ask him to pick up some Popeyes via drive thru since we both don't feel like cooking today. Popeyes is currently our fancy “going out to eat” food. $24.17 for a 4pc dinner meal and a 2pc dinner meal.
Daily total: $583.21
Friday
8:30am Busy morning at work. My phone is buzzing with emails and Slack messages. I try to answer them while I make tea.
10am Zoom Department happy hour. We reminisce about our director and then play those Jackbox party games. Some of them are hard!
11am TJ asks if he can make me anything for lunch. He suggests savory oatmeal, quick and easy. I tell him that I really appreciate him making meals/doing chores/etc without me prompting. We've been having conversations about "house project management" and mental load because I did most of the chores or I had to continually remind/tell him to do it. I'm really happy to see us progress on this front. I decide to work through my lunch break so I can end the day early. I don't often do that, but I'm ready to get the weekend started.
2pm I check on TJ in the spare bedroom and ask if the dog has been fed yet, since he was nipping at my feet. I notice something off about TJ and ask how he is doing. TJ is depressed about his personal life, career, finances. He doesn't know what to do, spends half the day meditating and reflecting on past trauma. I've been prodding him to get a therapist but he is confused about his insurance. He makes an appointment with a primary care doctor first. I feed the dog some homemade dog-friendly beef stew.
4pm My mom swings by the house (but doesn't enter). She currently works at a school who distributes free USDA food boxes since March. There's often many boxes leftover that would go to waste, so she will grab a box for us. Onions, potatoes, beets, turnips, eggs, cheese, butter, frozen veggies and frozen chicken. She also brought her vintage pasta maker. I asked last week if she ever used it these days and her reply was “no, feel free to have it”. I love pasta and noodles and figure it would be great to make it ourselves as a frugal hobby.
8pm We catch up on Mandalorian and watch silly Youtube videos before heading off to bed.
Daily total: $0
Saturday
9am I open up my web browser and look at Craigslist and NextDoor for free stuff. I've been scouring for free landscape rocks, pegboards, and wood for house projects. I had this grand ambition to redesign our backyard. It faces our neighbor and currently the fence is pretty low. They can see into our kitchen and bedroom and we can see them. But y'know, COVID and going from dual income house to single income means it all has to be put on hold. So I've been looking for free items in the meantime. Over the past months, I've gotten planter pots, plant cuttings, a raised bed, stepping stones, all from free listings. I don't see anything worthwhile so I go and make some tea.
11am I look at Amazon and make some purchases for Reddit Secret Santa. A foodie kit, DVD of their favorite movie, and some cute pens for their writing hobby. $54. I hope they like it!
12pm TJ heats up leftover stir-fry for lunch for us. I put on some Binging with Babish and we watch how to make pasta. We have a plan - TJ makes the pasta, I make the sauce. Perfect date night activity at home. We watch some more videos on pasta and noodles to educate ourselves.
4pm I start prepping veggies. Big batch of onions, canned tomatoes, ground beef and butter in the instant pot. Meanwhile, TJ works on the pasta by following Babish's instructions.
7pm We gorge on fresh made pasta and bolognese sauce. It's so good! We end up watching Fargo.
11pm Usually I'll be in bed by now, but it's a Saturday and not tired yet (probably because of all that pasta). We play some Kirby's Dream Course on the Switch.
Daily total: $54
Sunday
10am Quick walk around the neighborhood with the dog. He's on a new routine now with the medicine he's taking. It seems to be helping his breathing issues.
11am The pasta maker and flour is still out since we didn't clean up yesterday. There's some old pie crust in the fridge so I roll it out with the pasta machine for mini quiches. (Sally's Baking Addiction blog is my go-to place for her all-butter crust and quiche recipes btw). TJ helps by mixing up the eggs.
3pm I play some Genshin Impact (GI) on my phone while TJ plays Starcraft in the office. I don't usually play gacha games, but the Zelda BotW-style of GI appealed to me. A gacha game is a game with randomized characteitem boxes that you use real-money to purchase a “pull” or to spin the wheel. I know the gacha parts of the game can be a real money sink if you get addicted to them, it’s almost like gambling. My main team is Fischl, Bennett, Barbara and Noelle. I level up to AR 22 and look up free-to-play tutorials for the game.
6pm There's some leftover pasta from yesterday, enough for both of us. I throw in some roasted beets to round out the meal. We watch more Fargo while eating. Almost done with Season 3!
10pm I find a tour operator who offers a small, socially-distant snowshoeing tour up on the mountain. I reserve for two people - this will be TJ's Christmas/birthday gift. $75. Off to bed for another workday.
Daily total: $75
Weekly Total: $689.79
Section Five: Reflections
Aside from the car insurance bill, this was a typical week for me, COVID or not. We make the majority of our meals at home and usually splurge on drive-thru/delivery once every other week. I may have overspent on the Secret Santa gift, but I don't often give gifts out to friends. It's not something our family does either. For TJ’s Christmas/birthday gift, we usually talk upfront about costs. I’ve gifted him fancy restaurant experiences the past 2 years, since we can share that experience, but obviously can’t do that now. Snowshoeing is a nice change of pace.
The conversations with TJ this week have given me thought on how to approach him differently about finances and working together in a relationship. I’m still unsure about the future financially, particularly as my parents near retirement age and that TJ has pulled out his 401k to pay his debts. I don't know if I can support both my parents and TJ together, so I am finding ways to upskill and/or side hustles without becoming a workaholic or bogged down by stress.
Writing this money diary was also the first time where I really paid attention to my past income and current income. I might be contributing too much into ESPP that could go towards the 401k or mortgage instead? I also seem to have been underpaid for what I did in past jobs, even in a LCOL area.
submitted by throwaway_md_182481 to MoneyDiariesACTIVE [link] [comments]

DraftKings (NASDAQ: DKNG) - Deep Dive Research - Part 1

TL:DR
Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:
  1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
  2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.
As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
submitted by Historical-Comment36 to SecurityAnalysis [link] [comments]

My 1 Year Anniversary of Full Time Day Trading. 3 Years In The Business. What I Wish I Could Tell Myself Years Ago.

This industry has a lack of transparency so I'm more than happy to say I will provide lots of that throughout this post with screenshots. There are LOTS of imgur links to back what I say so it's not just words on a post expecting you to just believe what I'm typing.
This post I suppose is "Part 2" my post back in April, "After 2 years of Daytrading. 7 months full time. Here's my advice". I'm doing this to update everyone who came/comes across this in the future. Yes, it is possible. No, it won't be easy. You will pay homage to the rite of passage into this career. I'll also provide some examples of styles of trading so for the newer aspiring traders, there will be some things I rarely see discussed on forums. So here's to 1 year of Full Time Day Trading

TL;DR - You'll become desensitized to trading. Stubborn to other strategies (There are biggebaddemore lucrative strategies. Don't chase them. Why fix what's not broken? I know what works for me and I'm content with it. No strategy is better than another. It's a personal choice. ). Losing individual trades won't faze you, they're inevitable. Profiting certainly feels better. After a while, you won't be as enthralled to trade every morning, it'll become just another part of your day). Trading is just managing your money through a statistic and the medium to execute it is trading on your platform. Think: "If. Then. Because". Your trading plan should be that black and white. Ask "Why" for everything you do and use. If you can't answer it with documented results, drop it.


I get a bunch of messages all the time from people asking - . Out of those who follow me and chat me seeking further tips through my previous posts. I'll be answering the FAQ's and addressing things I see frequently in this sub as far as trading axioms
Disclaimer: I won't sugarcoat anything. I'll share my experiences and add pieces of advice I'd give to those who are currently experiencing the same thing becoming a full time day trader and what day to day life is like, the occasional distress, (DRAWDOWNS). Some of you follow my Twitter for the past few months where I post my daily watchlists with a snippet that reveals my DayTradingBuyingPower. I do this not to brag but to demonstrate that the account does yield growth, I pay myself, and there are days where the balance does not move because there was no edge. I also do this since nobody else shows their account performance. (Yes. You, Mr. YouTube gurus and wannabe gurus).
We do this for income, the numbers on our accounts are real. Treat it as such. Get your initial capital out of your account THEN try to "Scale your account" with your profits AKA The Market's Money.

I'll go over:
•FAQ's that I get in my inbox (I'm still welcome to further questions if I don't answer here)
•Decision Fatigue (You will experience this)
•The previous year (2019-2020) of ups and downs
•How to use my watchlists that I post on Twitter in the morning to your advantage
•The pivotal moment that changed my trading career (NFLX 10-17-19)
•The road to becoming a full time trader. (It won't be fun unless you're handed the money)
•You'll have a better grasp of my strategy (Between ProTip 4 and 5. ProTip 8.)

There are 10 "ProTips" throughout the post that I wish I could tell myself years back and I'll periodically throw them in here as the post goes on. I make posts long in order to segregate those serious about this business and those who will just become another statistic in the failure rate of this business.

At the end of this post, I'll go over the frequent questions I receive such as: (Answers to FAQ at bottom of post.)
  1. "How do you prepare for a trading day?"
  2. "What would you go back to tell yourself?"
  3. "Books?" (The most abused question, but I get it. I could start a public library with just trading books I bought over the years)
  4. "What is your background?"
  5. "What is a normal day for you?"
  6. "How did you discover your strategy?"
  7. "What did you do/How did you get started?"
  8. "What is your % return?" (Not a fun question since a trading account is not an index or investment account. Intraday traders do not measure performance in %. Most are measured in "R".)
  9. "Is enough to start trading?"
  10. "Why do you need so many monitors"? (This one is rarely asked but I do see it discussed on platforms and people trading on mobile phones love giving flack to anybody who trades on multiple monitors. Hint: Everyone's different. Whatever works for the individual. There are no rules in trading. The only rule is that it works.)

My story:

Background:
I heard about daytrading during the 2008 crash while in high school. We all want to make more while working less. I entertained day trading from time to time but always realized I never had enough money. Horrible mindset because I could have still researched WHILE saving money to put into my trading business.
2015 - I opened my first trading account with Scottrade while in the Marines. Apparently if you have a net worth of over $1,000,000 you can get out early (Biggest rumor ever).
I frivolously bought crap penny stocks. In short - I was a hair away from gambling. What made it NOT gambling was the fact that at least I owned something tangible (Securities of a company) and anything can happen. Buy low sell high was my strategy. Didn't work obviously. No idea what I was doing. I'd buy and hold hoping to wake up to the stock price being way higher and it never happened.

ProTip #1 : If you hold a trade overnight... It is not daytrading. Stop turning into an investor because you can't admit a minor defeat.

2017 - I started taking this business seriously while working in the oilfield as a Logistics Planner (If you're wondering what company since I am asked this from time to time, Google: "World's largest oilfield services company").
No kids, girlfriend/wife or financial obligations. I worked 10AM - 7PM CST and would trade the open from home for roughly 1 hour. Later I was offered to be a Data Analyst... Only downside was... I couldn't trade since I had to be at work now at 8AM CST during the market open. In the moment of signing the offer letter, I was bummed thinking, "No more trading,"
That wasn't the case though. You can still build your trading business with a 9-5 and while never making one trade. The data is there.

ProTip #2 : We all see the same data. It's there forever. Many strategies show their edge both live and in hindsight the same. (Especially if you trade patterns). You CAN build your business as a trader without even taking a trade. You CAN build your strategy while working a 9-5. Just because you're not trading, does not mean you can't build your business through research. You won't know how you'll react to the losses but at least you can diagnose the raw data with a large enough sample size for assurance and confidence.

If you have a 9-5 and want to go fulltime into this business. Stay for a bit, save, live so far beneath your means that it is almost miserable, (depending on your expenses, area you live, family etc) and get a few hundred sample sizes of your strategy! And for your PTO/days off... trade the open. I sacrificed my vacation days to trade.
After 2 years in corporate America, eating cheap food, never going out, saving relentlessly, I made the decision to just do it and resigned. I went straight into the ring of fire known as trading. That was on: September 23rd, 2019
"" (Sound familiar?)

When you hear these types of comments.. your response should be: "Nobody put the time I put into this. The 90%+ who fail, don't have it all written out, computerized backtests, manual backtests, statistics, SOP manuals, JUST like the job I have which is a business, I'm just another cog in their wheel. I'll just be wearing all the hats in my trading business. Instead of Oil&Gas, it's just for trading". One thing I see here a lot is people saying to trade X amount of months/years or make X.

ProTip #3 - Think in man hours, not calendar. Example:
Trader A puts in 1 hour of study/work/research everyday for 1 year. (365 Hours)
Trader B puts in 12 hours of work every day for 4 months. (~1,450 Hours)
Trader A lives in a major city while Trader B lives in the middle of nowhere. (Think cost of living)
2 totally different living expenses and 2 different calibers of dedication. I'd put my money on Trader B because he put in more man hours. (~1,000 more hours on the clock to be more exact).

ProTip #4 - Have a cushion in your account AND your personal bank account. Having a strategy is great but you won't know entirely if you can fulfill and execute your plan until you experience the ups and downs both short and long term. A strategy is constant over long periods of time... there will be days, weeks, and perhaps a month here and there where you aren't making much money. We hear all the time, "Trade like a casino". Casinos don't make money day after day but the odds are in there favor over the long haul.

Month 1 of full time trading was great:
Immediately after going full time, the first month (September 2019 to October 2019), I did super well. Business as usual. No stress. Everything going as planned. No turbulence. At least not like I had ever experienced...

The 2 prerequisites I had before resigning was:
  1. Show consistency in returns. Consistent Sharpe Ratio.
  2. Make a 4 figure trade (I achieved this while short 100 shares on ROKU September 20th, 2019 and even made a victory post if you scroll down my profile's posts.)

First life-changing trading lesson learned as a full time trader:
That money printing spree ended on NFLX October 17th, 2019. Less than 1 month of being a full time trader. Deviating and going against my plan I actually made $500 in a matter of 4 minutes. If you follow my watchlists on Twitter, I always trade with the direction of the gap. If I notate, "Long Watches" that means I will only trade it IF (and only IF) I see a long biased pattern. Likewise I will only be looking to short my "Short Watches". Plenty of times I'll call out a ticker and it immediately goes the other way. No harm no foul because there was no long biased pattern to confirm my thesis.
On 10-17-2019, I went against my plan and it worked.. NFLX gapped up to resistance and I went short when it tanked off of a short pattern.(This is known as fading). The market gave me a free lunch and then some. So now I'm walking on air in my mind:
"I'm an absolute unit"
"I'll do it again and clear another $500 to make it a 4 figure day before 9:30AM Central"
"Should have quit my job way earlier being this good."
Within 30 minutes of the open. I gave all $500 back. Yes I wanted to trade it back. Never have I had the desire to smash anything but I do understand those who do! Yes I stood there and felt like each passing second was wasted opportunity. The next 24 hours were long!

ProTip #5: It's circumstances like that that help you in the long run. FunFact: I never once deviated from my plan since. Not ever again.

"I could have paid for my groceries and electric for the month after 4 minutes of trading if I just took the free pass the market gave me" I felt dumb but in hindsight, I'm glad at what happened. It was this exact instance that married me to my strategy/business plan. The next day and the 7 trading days following. I didn't make 1 profiting trade. My longest ever drawdown - 11 straight trades. While researching I found out this was Decision Fatigue (I'll go over this shortly below)

Put yourself in that situation...
You have bills and your income is strictly trading. I don't care how much a robot you think you are or how strongly you believe in probabilities, when you were in an office less than a month ago making almost 6 figures sitting in an air conditioned office knowing direct deposit is on its way every other Friday no matter how well or poorly you performed at work.. Now you're in the hot seat. Its a bottomless feeling. Now all of your friends and families words are ringing in your head.
But just like a boxing match.. you gotta take a hit to get a hit. Win some, lose some, shake hands and get back to normal life. Water under the bridge.
Mind you:
•No guaranteed direct deposit every 2 weeks.
•No more medical/dental insurance.
•401K retirement is no longer being matched.

11 trades is nothing. You only require ~5.5 trades at 2:1RRR to make it back OR 3.5 trades at 3:1RRR. It's nothing especially in your research because you can easily just scroll a little more and see, "Oh that's just a drawdown. No big deal". How will you react in real time? Will you buckle or choke? But the thing is, I was skipping trades out of fear and JUST so happened to be picking all of the unsuccessful ones. (Decision Fatigue)
Think about those 2 weeks of being in a drawdown. Half of the month. You're not just stagnant, your account is bleeding slowly but surely. Next time you're looking at your spreadsheet/backtest/predictive model/research.. try to put yourself in those days of drawdown. It's not just 11 boxes of red with "-1R" or "Loss" in them. The screenshot above on Imgur is just a recent example.
Think about your daily routine, going to the gym, hanging with friends, grocery shopping, cooking, going to bed, waking up, doing a routine, then losing again.. and again.. and again. Try to think of life during those 300+ hours (Weekends too) of, "I haven't made money. I've lost money. And I still have bills. After paying them, I'll be closer to my set Risk of Ruin".
Here's a lesson you won't learn before going fulltime but I'll do my best to emphasize it here:
Pick a strategy. And stick with it. It can literally be anything. Don't spread yourself thin watching 20+ tickers and be a jack of all patterns/tickers. Be a master of 1 pattern and master of 1 circumstance. There's this real thing called "Decision Fatigue" which explains exactly why what happened.. happened. The article explains that the 2 outcomes of this mental strain known as "Decision Fatigue" is:
  1. Risky Decision-Making
  2. Decision Avoidance
Sound familiar? Does it kind of make sense now? As a new trader you have YouTube, Facebook, StockTwits, Twitter, "gurus", books recommended on Amazon, all throwing their ideas/strategies around, the market has opportunities littered all over.. Decision Fatigue is inevitable for the unprepared. Decision Fatigue happens in every profession. If you mess up at your 9-5, its just a blunder, your paycheck will remain the same. Just a slap on the wrist and move on. With trading, you make a mistake.. it's less food on your table, lights don't stay on, and/or water isn't running. That pressure adds up. No wonder so many fail...
The signs of Decision Fatigue:
•Procrastination.
•Impulsivity.
•Avoidance.
•Indecision.
When you find what clicks with you AND its either statistically or performance proven, have the courage to risk a healthy sum of your capital into it. There are strategies/patterns/styles of trading littered all over the internet:
Very broad example:
"IF circumstance happens THEN "Execution". Stoploss is XYZ. Target is XYZ. BECAUSE over a series of Y trades, I will make $X,XXX.xx".


ProTip #6 : Strategies are all over the internet. It's your account/money, backtest it. People share their strategies here all the time and although I don't agree with them because I know what works for me, it's something to chew off of for you newer traders. YouTube is a harbor with people who give just enough info to figure their style out. You will lose trades. Sit for some screen-time and pay homage to the edge that you discover. All in due time.

Insert key metrics and find correlations. This is how you create checks and balances to create/formulate a black and white trading plan. When I first started doing this, my spreadsheet(s) had so many columns it was annoying and would kill my desire to continue working. You'll find things that are imperative and some that are unimportant. For a lack of more colorful terms: "Throw stuff at the wall and see what sticks" Trim the fat. Rinse and repeat.

Here's some things I used to remind myself of and perhaps it'll ring some bells for you:

Surrender your capital to your edge. If you truly accept the risk and trust your proven edge, losses don't feel like anything nor do profits. Although we're not here to put on losing trades and yes it does feel nice to profit. I still from time to time will excited when I hit target after a series of multiple profiting trades depending on my mood.
If you're nervous or your heart starts beating quicker when you hear the sound effect of a trade getting entered/filled. Be honest with yourself and ask yourself if you're truly accepting the risk.
Things you can't take to the bank:
  1. RRR.
  2. Win-Rate
  3. Number of trades.
  4. "This one great trade that I hit target in less than 30 seconds and I got filled better than expected"
All of these are integral metrics. But you're trading to make money. It's up or down, green or red, profit or loss, TRUE or FALSE. So with that said, find what works flawlessly and is easy to follow. Checks and Balances. Then allocate a good sum of risk into it. I read it here all the time, "Don't risk too much" and that's great and true for new traders. But don't sell yourself short. Push yourself over the edge and admit that you know your stuff. Think of Trader A and Trader B. If you've put the time in.. don't sell yourself short. You've built enough courage to learn a business so many fail at. This business has such a negative connotation. But remember that not everybody can handle meritocracies and that's exactly what the market is. Don't try to be the best, just work harder than everyone else and the output of your input will be relative.


ProTip #7: YouTube trading ads from gurus... they're subconsciously making you think you're a novice trader. It's in their marketing. They study marketing psychology. The EASIEST things to sell:
  1. Health
  2. Wealth
  3. Happiness
People that are desperate for those things are the most vulnerable and these "Traders" marketers are fantastic at portraying all 3 of those things at once.


ProTip #8 (Broken record alert) : Write a business plan. Your strategy shouldn't take longer than 4 sentences to explain to another trader. When you have a plan that's proven through a statistic and WAIT for it to happen, you feel 100X better taking the trade. You don't even care too much when it results in a loss. Because that was your plan, you accept it much better, and you know it was just an expense for a winning trade.


Want my strategy? "I scan for stocks with a market cap of over 250M, 10k shares premarket, gapping to support or resistance, priced over $10, and I look for a pattern biased to the direction of the overnight gap. It isn't rocket science. Check my Twitter, look at the dates I posted, and you'll notice the gist. Yes this is an edge but not the entire edge. How fast can you sift through 15 time frames? How long does it take you to fill out your order ticket? Your Fibonacci time extensions with 5 EMA's and Bollinger Bands aren't helping you. They're lagging. If they work for you, great. In my experience, they hindered my visibility.


Pro Tip #9: Yes statistics are highly applicable to trading. Patterns do work. All patterns do is tell you WHEN to enteexit, and how many shares. Humans will never think differently of money. Be the frontrunner of the market's emotions. Nobody remembers the indecisive leader. Risk taking is a commonality amongst leaders. Trading requires courage and it's O.K. to show a bit of confidence as long as you also have the humility to admit when you're in a bad trade. (Notice how I didn't put, "wrong". You're only "wrong" when you deviate from a proven strategy.)


ProTip #10: Risk management is 24/7. I've never heard anyone mention this but think about it a little bit. Having financial obligations can become stressful regardless of how you earn your income but its far more stressful while running a business. Not just any business, but a business where you can go to work on your A-game, do every single last thing right, trade without emotion etc... and still walk away with less money than what you came to work with. Meanwhile somebody who JUST started trading made a 4 figure profit not knowing what the heck the difference between ETB, HTB, or NTB. Think of it like this, a JV high school baseball player can hit a homerun off of an MLB pitcher once.. but how will he fare at the end of the season? Traders don't predict stock prices, traders predict the outcome over hundreds of trades. People chat me asking what TO do rather than what NOT to do. You don't learn labor intensive jobs or how to fly a plane by what to do.. you learn what NOT to do to stay alive.

That's all I have. Once you have a trading plan underway and you're executing it, you don't have much time when your hobbies are cheap but I still do respond to chats/messages. I do get asked from a previous post when I'll build a website and to answer that: I'm learning how to build a site on rainy days. Can't put a definitive date on it. I will say that its coming, if you don't give up on this business in the next year or so, you'll see it. What I plan on putting on there:
  1. RiskReward Calculators
  2. Position size Calculators
  3. EV Calculator
  4. Dictionary with examples
I just don't want some generic WordPress site. I want my website to be stellar and a great resource for aspiring traders. Something I didn't have learning this business. I want it to be something I'd consider a staple in a trader's resources. Perhaps one day it will be referenced on this sub frequently.
FAQ:
  1. "How do you prepare for a trading day?" I get behind the computer about 20 minutes before the bell. Reason being: "If you study long. You'll study wrong". If the chart isn't grabbing my attention and gets me excited, then I flick to the next ticker. I don't even know the companies I trade half the time nor do I care about a news report some journalist wrote. Also there is no magic news outlet that lets you know about "Major events that affect stock prices". If there was, I wouldn't be here because we're all subscribed to the same edge nor would I be trading my style.
  2. "What would you go back to tell yourself?" Get more data. Save a little more, your hairline and sleep schedule will thank you. Take only perfect trades and don't feel forced to trade. There will be days you don't touch an order ticket. And days where you are busy and have tunnel vision. Next thing you know its time to shut it down for the day.
  3. "Books?" - I try to humble myself when answering this but off the cuff, they're all mediocre. Andrew Aziz's was ok, definitely get it, it's only a few bucks on Kindle. Just don't expect it to give you strategies BUT it will give you ideas. If you're brand new, it is good as it will teach you the common vernacular of a day trader. Mark Douglas was interesting but his YouTube seminar recordings are much better. No book, Facebook group, YouTube channel is going to be the end all be all perfect strategy. Expect losses. Don't be a one hitter quitter after suffering a few tiny losses/paper cuts. Stick to it. Most books will help you familiarize yourself with the common vocabulary amongst traders and will hint ideas. It's your job to formulate the strategy and template for research.
  4. "What is your background?" I was a logistics planner for a major oilfield services company. Later I then became a data/buyer analyst so yes, data analytics/research was a 2nd language for me entering trading. I did have that upper hand and did shave off months if not years for me.
  5. "What is a normal day for you?" I'm always done trading after 10:30AM Central. I will hold onto a trade until right before the bell if it hasn't hit either target or StopLoss by the time I leave the house but it is absolutely closed in entirety by 2:55PM Central. After I trade, I enjoy the day. No I'm not riding around in my Lambos posting IG/Snapchat (I have neither) stories of my profits with my private jet waiting on a runway trying to sell an $7 eBook or a $100 membership (HINT HINT). I grill/cook, read, workout, ride my motorcycle, attack my other sources of income (small businesses I'm building), hit the driving range, shoot guns, etc. I live in Texas. Life is cheap and fun here.
  6. "How did you discover your strategy?" I bought TradeIdeas premium, went through all of their computerized backtesting patterns, tested them. Then did what I mentioned earlier... Tried to find correlations in metrics. It distilled the trades to a strict criteria and here I am. I post on average 4-5 tickers on my watchlist. 7 max. I do not like spreading my attention thin across multiple tickers. I do not recommend buying TradeIdeas, it does have lots of bugs.
  7. "What did you do/How did you get started?" Was a data analyst, was good at research and applied it to trading. My incentive was, "I could have made more money trading rather than sitting in 2+ hours of roundtrip traffic and 9 hours in an office. The data is there. Everybody sees the same charts all over the world. There are ways to make this possible"
  8. "What is your % return?" (Not a fun question since a trading account is not an index or investment account. Intraday traders do not measure performance in %) I trade to make money AND pay myself, so my equity curve will look like a small loss or small gain after I pay myself. % return? I measure my account's performance in Sharpe Ratio and Risk Units. My Sharpe Ratio is ~1.85. While I yield roughly .8 - 1 R per trading day. Some weeks I make 10R. Some weeks I lose 2R. Yeah one week I might make $2,500. But the next week I might lose $300. The following week my strategy will yield $0 and the last week I might make $1,000. Some weeks suck. Some weeks are great. But overall. Just shy of 1R per trading day. Some days I'm super busy taking trade after trade. Some days I'll shut it down after 5 minutes without even filling out an order ticket. Some days I won't even see the open because there is no edge for me.. Keywords... "For me".
  9. "Is enough to start trading?" Depends on where you live. Are you restricted to PDT? If not then how much are you obligated to expenses? I live in Texas. Things are cheap here. If you live in NYC or The Bay Area your expenses will be astronomical compared to mine. A $30,000 account is totally doable for a single Texan with low monthly expenses. Now if you're in California or New York? I'm sure you'll fall below 25k if you have 1 bad month. Also depends on if you have other sources of income or a full/part time job. I encourage every trader and aspiring trader to have multiple sources of income, don't rely solely on trading. Not just for the sake of mitigating pressure but also for sanity. If you have a family to provide for, I don't know what that's like, you never know when Little Johnny is going to randomly pick up Trombone lessons for a school program/play while little Suzie needs transmission work in her car because a simple solenoid went out. $1,700 later.
  10. "Why do you need so many monitors?" I use 3 for trading. The 4th is for music. The other 2 are useless while trading. That's for trading though. When I made the decision to go full time, I knew I was about to go off the chain with research. And sifting between spreadsheets, a platform to see multiple timeframes for a pattern to backtest. My attention span is short, I'll lose my train of thought before I open the other tab to input data. But the main reason was for research. It's such a time saver and is a headache repellant when doing research while everything is laid out in front of you. Now that I have a system. I'll most likely be treating myself to 2 ultrawides for Christmas.
As always, thank you to everybody who takes time out to message me and letting me know some people read these and show appreciation. I would say, "Good luck" but there is no luck in trading. Just statistics. Remember that!
In conclusion: Yes. Full time trading is possible, depending where you live/monthly expenses and obligations. You're more likely to become a profitable trader than a professional athlete. There is a level of uncertainty each day, perhaps each week, doubtful each month, and definitely not each year. If I ever want a raise, I just consult my business plan and financials, then decide if I can handle it mentally. If you have medical issues, get a part time job for the benefits. If you're healthy, just be careful.

All the best!
-CJT2013
submitted by CJT2013 to Daytrading [link] [comments]

DraftKings (NASDAQ: DKNG) - Deep Dive Research - Part 1

TL:DR
Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:

  1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
  2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.
As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
submitted by Historical-Comment36 to investing [link] [comments]

Investing in ETFs

A couple of weeks ago, I posted a comment in response to a question about ETFs. This question comes up very often; usually two or three times a week. Maybe more than that. Several people suggested that it be "pinned." I obviously cannot do that, however if a mod wants to pin this, feel free to do so. I did make a few modifications and additions to that comment and for those who haven't gone back to see the changes, I thought I'd post it again here. Hopefully, this helps people who are interested in an investing approach that is either made up of ETFs or that includes ETFs as a part of their portfolio.
______________________________________________________________________________________________________
QQQ - This one uses the NASDAQ 100 as its benchmark. Obviously it's an Indexed, non-managed ETF. XTF used to rate this one as a perfect 10.0 out of 10 rating, but recently dropped it to 9.9 out of 10. It has one of the highest rates of return over the past 10 years of any ETF. It does tend to be tech-heavy, especially with the FAANG +M stocks. (Facebook, Apple, Amazon, Netflix, Google and Microsoft). Other top holdings include TSLA, NVDA and ADBE. (The rating dropped recently when the portfolio of the NASDAQ 100 was re-balanced).
VOO/SPY - VOO and SPY are non-managed funds indexed to the S&P 500 Index. These funds are very popular on this subreddit, for good reason. They are well diversified, broad market funds investing in mostly US stocks. XTF rates these funds at 9.6 out of 10 because their return on investment over the long term is somewhat tempered by some of the blue chip stocks in the funds. But those stocks also help reduce volatility relative to some other ETFs. These are solid investments, but keep in mind that in the top 10 holdings there will be a lot of crossover between these funds and other broad market funds that hold US stocks like QQQ, VTI, VGT, VOOG and SPYG. There are differences, of course, as well, but you always want to know where those duplications exist.
IWF - This is a Russell 1000 Growth fund. It is one of my favorites that doesn't get talked about much. It does have a lot of crossover with the other funds mentioned above, but the mix is slightly different. Other funds that use the Russell 1000 Growth Index include RWGV and VONG. I would describe this fund as more aggressive than VOO/SPY, less volatile than QQQ. VONE and IWB use the Russell 1000 Index as their benchmark. SPYG and VOOG use the S&P 500 Growth Index for their benchmark and would be similar (but not identical) to IWF, VONG and RWGV.
IWM - for someone looking to diversify a little bit, this is a great fund to look into. This fund is a non-managed, indexed fund that uses the Russell 2000 index as its benchmark. The big difference between the Russell 2000 index and many of the the other indexes is that the Russell 2000 index looks at small and mid-cap companies, rather than large-cap companies. Thus, there is zero crossover between this one and the funds mentioned above. While this fund will move up and down with the market, it is often less volatile than the market overall. If you look at the charts, this fund has under-performed some of the other funds over the past few months while the market has been very volatile in an upward direction, but in a crash, this fund would probably outperform the rest of the market. It has a 9.0/10 XTF rating.
VXUS - Vanguard Total International Index Fund ETF - top holdings include BABA, Tencent, Samsung, Taiwan Semiconductors, Novartis, Toyota. This is a broad market fund investing only in companies overseas. I'm not generally bullish on foreign markets, but this one is a very solid ETF with some companies that are likely to do extremely well for the foreseeable future. XTF rates this one a perfect 10.0 out of 10.
EEM - iShares MSCI Emerging Markets ETF - This one is going to have a lot of crossover with VXUS. It is an Emerging Markets ETF with a lot of focus on China. It includes Alibaba, Tencent, JD.com, along with companies like Samsung and Taiwan Semiconductors. This one should be a solid performer as long as our trade relations with China remain normal.
EFA - This is another international ETF, but here the focus is mainly on more established companies in Europe and Japan. This is a Large Cap ETF that includes companies like Nestle SA, Roche, Toyota, Novartis and AstraZeneca.
Sector fund ETFs:
ICLN/TAN/FAN - These funds are clean/renewable energy ETFs. ICLN is more broad while TAN focuses more specifically on solar energy and FAN specifically on wind generated energy. I think renewable energy companies are the future. There is no crossover in the top holdings of this fund with the top holdings of QQQ and most of the other broad market funds. Also, these are global, not just US based companies. QCLN and PBW are also renewable energy funds, but they also contain a lot of TSLA, NIO and W.K. H.S. in their top holdings making them "electric vehicle" funds, as well. No problem if you want to add that, but you'll find a lot of Tesla in some of the funds mentioned above.
ARK group of funds: ARKG, ARKF, ARKK ARKW, ARKQ, PRNT and IZRL. These are managed funds investing in companies that invest in disruptive companies in their respective industries. Most posters on this subreddit are bullish on these funds. They are aggressive growth ETFs, but should be considered somewhat risky and volatile.
XL series of funds. Similar to the ARK series, these tend to be more aggressive growth funds, however these are passively managed indexed funds with various benchmarks that usually are overloaded in the better companies within a sector:
CLOUD COMPUTING: WCLD, SKYY, CLOU, BUG and XIKT. Of these WCLD has the best 52 week performance. Top holdings in WCLD include ZM, PLAN, CRM, CRWD, ZEN, WDAY, TENB, PCTY, DDOG, BL. Many of these are likely to also appear in QQQ, however, they would be in very small percentages as the Cap on these companies is much smaller.
Aerospace and Defense: XAR, ITA, PPA
Real Estate: VNQ, FREL, SCHH, IYR, PSR, BBRE
Transportation: FTXR, XTN, IYT, RGI, JETS
Oil/Energy: IYE, FENY, VDE
Consumer Staples: FSTA, VDC, IECS
Media/Entertainment: IEME, PBS, PEJ, IYC
Robotics, AI, Innovative Technologies: THNQ, ROBO, XITK, SKYY, GDAT
Semiconductors: SOXX, QTEC, QTUM, SMH, FTXL
IT: FTEC, VGT, IWY, IGM, FDN
Cyber Security: HACK, CIBR, IHAK, BUG, FITE
Consumer Discretionary: FDIS, VCR, IEDI, JHMC, IYC
5G, Connectivity: FIVG, NXTG, WUGI
Self Driving EV: IDRV, DRIV, MOTO
Gaming/Esports: NERD, HERO, ESPO, GAMR, SOCL
Casinos/Gambling: BETZ, BJK
Online Retail: IBUY, EBIZ, ONLN, CLIX, GBUY, BUYZ
Utilities: IDU, VPU, FUTY, RYU
Health Care: FHLC, VHT, IYH
Medical Devices and Equipment: IHI, IEHS, XHE

Other Unique ETFs, non-sector based:
CHGX: US Large Cap Fossil Fuel Free ETF
VIRS: Biothreat Strategy ETF


A nice portfolio might look something like this:
20% - Broad market US fund such as QQQ, VOO or IWF
20% - VXUS - International
20% - IWM - Small/Mid-cap broad market fund
10% each in four sector funds of your choice
I'm not a financial expert or advisor and this is not financial advice, just an opinion from a random internet person. I do own shares in several, but not all of the funds listed above, including QQQ, IWF, some ARK funds, ICLN, VXUS, etc.
__________________________________________________________________
Edit: In one of my previous edits, I accidentally erased a bunch of the sector funds. Please feel free to comment with your favorite sector funds and let me know if I forgot to add back some that I had before.
submitted by ixamnis to stocks [link] [comments]

Today I quit gambling. Any tips on withdrawal and duration?

Hello. I lost about 100k in the last 10 years gambling online.
On the one hand, I'm ashamed, disappointed, and regretful.
But on the other, I'm free from being enslaved by this behavior that isn't accepted societally, and can be argued by most to be a complete waste of time.
Right now my word doesn't mean anything; the amount of time it will take to repair my life at least one year, but the future is really bright without any intention or thought or planning to gamble ever again, not even in a real casino. From my point of view, since the purpose of gambling is supposed to be for 'fun,' and the reality of the behavior is you will lose everything you own, including your soul otherwise, there's no point. The thought of putting money you already have down on the outcome of a card flip is retarded to me, there's nothing fun or entertaining about it. I can get that same sensation playing an online multiplayer video game without being involved in a sketchy behavior that most people frown upon,
Last night I tipped a live dealer my entire balance, 1,000 because something disconnected in my brain's conduits while I was playing blackjack. The back and forth up and down winning and losing clearly exposed itself as a waste of time, and all I could think about was the time and money I wasted gambling. I would have a lot of money in my bank account right now, and probably be close to retiring from a career in 5-10 years if I never got involved with this behavior. Well, a lot more than money would be different in my life right now, best not to focus too much on the past and on the future and present now.
The behavior ruins lives, it gets people addicted, and quite frankly even if you were a billionaire and could sit there 24/7 playing, why would you bother? The time element is the biggest thing for me, I can earn that money back in a few years working. All that time and energy I spent 'trying to beat the game' could have been saved and used on something else. Even playing video games would have been a better use of time, because at least at the end win or lose I'm not filled with worry, self loathing, and all the emotions that lead to premature death and health problems.
I plan on studying, reading, watching movies, television, eating healthy, exercising, and playing video games to help my brain heal. It's not the loss of money, but the loss of time and accepting and admitting to myself that yes, I wasted ten years of my life. Yes, I wasted it gambling over the internet, like an autistic. It almost feels like I can't live with myself holding these memories, but instead I should use these disappointing and horrible memories as a foundation to do good things for myself and future.
submitted by Ok-Department-2579 to problemgambling [link] [comments]

Casino Verification Onka

The Unlawful Internet Gambling Enforcement Act of 2006, or the UIGEA, had, the bottom line is, prohibited banks and payment processors from processing transactions that will correlate to online gambling. It has not just complicated loading accounts, but additionally withdrawing. While USA online casinos have continued to work, they've had to utilize payment processors that will circumvent these restrictions. Sadly, the UIGEA wasn't even set to go into effect until December of 2009, thought the implications of the legislation had drop out that could be nothing short of catastrophic for several online gambling companies, especially those who relied heavily on the United States market.

The UIGEA had hamstrung lots of the operations around the globe that utilized the American market to be able to stay ahead in profits, whilst keeping losses to a low. The implications ran deep, damaging many companies operating these casinos. Not merely had some of the larger, publicly traded online casinos taken a significant hit to the purchase price per share, which in turn hurt the shareholders of the companies, but additionally cost the businesses profits from the United States Market. PartyGaming comes in your thoughts specifically, though other large gambling firms had taken a hit. Additionally, many executives in charge 카지노커뮤니티 카지노검증 온카 of several of the online casinos, including Anurag Dikshit, one of many early founders of PartyGaming, have been indicted and fined because of their involvement in online gambling - despite the fact these companies have been based outside of the United States. Payment processors had also been significantly impacted, as many of these financial companies had taken a blow from federal persecution, which, in some cases, amounted to countless countless dollars in seizures. Sadly, the UIGEA had not even been invoked in many of these seizures. Rather, the Wire Act of 1961, a law that were passed years before the Internet was even beginning to develop into what we see today.

Regardless of the laws that had begun to inhibit online casino gambling, many online casinos continued to just accept USA players. While several of the bigger brands of online casino have been stripped from the United States market, numerous others had remained steadfast inside their dedication to delivering casino gaming to the American market. Though there are online casinos still operating in the USA, the choice has become limited. To be able to concentrate on a limited market, online casinos accepting American players had to offer a service of higher quality. That having been said, those online casinos have had to outclass the older kinds of casino software that had removed themselves from the American market.

There are three major brands of casino software which have yet to cease operating within the United States. These brands have no intention on leaving the American market, and still out perform those who have left USA players high and dry. Real Time Gaming, or RTG, Rival Gaming, or just Rival, and Odds On, also called Vegas Technology, are the three kinds of casino software still accepting Americans. Each carries its own unique features, though they universally out perform those individuals who have left the United states behind, including Microgaming, Playtech, and others. While some of the individual casinos operating under these brands have do not quite happy with the contention of the United States government, nearly all of them continue to provide USA players with high quality casino gaming.

Casinos powered by RTG are one of many superior three. Real Time gaming has brought high quality gaming to players through the entire United States. Their superiority comes through the digital eloquence of the games. Rather than delivering tired, bland tables games and slots, they've taken steps to ensure each player will relish the smooth graphics and action of the casino. Real Time Gaming casinos supply their players with enough diversity to keep entertaining, as well as huge bonuses because of their players. Casinos outside of the United States, particularly Microgaming casinos, will more often than not flunk when it comes to bonuses. Through integrated security, these casinos beneath the RTG brand also remain the absolute most secure.

The 2nd brand of casino gaming comes through Rival Gaming. Rival Gaming has generated and subsequently distributed a unique number of games. These games, the Interactive Slots, have brought a complete new amount of entertainment to slot games. As opposed to the standard spinning of the reels, Rival has raised the bar to the pinnacle of casino gaming. Their table games have also been a big success, bringing in players who seek simply to play cards, dice, and other table based casino games. Though players outside of the United States may take pleasure in the Interactive Slot, there is no international online casino that blocks American IP addresses that offers anything remotely similar to the power and selection of the I-Slot.

Finally we come to Odds On. With Odds On Casinos, players are entitled to utilize one of many original kinds of online casino software. Odds On has revolutionized the way in which games are played, particularly slots. The Odds On bonus slots have brought countless thousands of dollars to their winners. Additionally, these bonus slots are backed by the large, multiplayer slot tournaments which have become a selection for several gamers across the world. The size and popularity of those tournaments are almost exclusive to Odds On. Slot tournaments provide players with the ability to enjoy slot gaming without an overwhelming financial risk, while providing easier usage of large winnings. Though other kinds of casino software will periodically provide players with the chance to enjoy slot tournaments, none is going to be as versatile or commonplace as those found through Odds On - proving once more online casinos accepting USA players are superior to those found open and then European players.
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Choosing the Best Sportsbook

Sports betting is essentially the act of placing a wager on the overall result and predicting sports results. The likelihood of sports wagers varies widely by culture, with a majority of bets being placed on sporting events that are won by a certain margin. Sports betting can take place on a single event such as an NBA or NFL game, a Formula One race, or any other competitive sporting event. In many cases sports betting can also take place on non-competing teams and/or players in order to handicap the competition.
Gambling has long been regarded as an acceptable form of gambling by many people, including many law makers. Gambling comes under the heading of sports betting in the United States law because the US government recognizes that it can generate revenue for its citizens through regulation of sports betting. Many states in the US have legalized sports betting, although they generally do not include online gambling, lottery bets, or other non-regulated forms of sports betting. Internet gambling is illegal in most states, but Las Vegas is the only city that openly promotes sports betting by allowing online bookmakers to participate in the LVAC Sportsbook Select program, which is used by hundreds of bookies across the country. The US State Department does not recognize online gambling, however, and individuals caught participating in this activity can face serious criminal charges.
In Las Vegas, a sportsbook allows customers to place bets on a variety of different sporting events, including basketball, football, baseball, tennis, golf, swimming, horse racing, and skating. The odds at which these wagers are placed are based on the sportsbooks' understanding of each sporting event and the probability of that event occurring. In order to place a successful bet, the gambler must be able to understand the odds on the game or event. The odds at which a bet is placed may vary significantly from bookmaker to bookmaker. In order to place a profitable bet, the gambler must use all available information, including the odds, to make his or her best bet.
With so many sports betting options available today, bookmakers have made it possible for bettors to enjoy their favorite recreational activities while still earning money. There are literally thousands of sites on the Internet where bookmakers allow bettors to place sports bets. Many of the sites feature daily, weekly, and even monthly payouts. The terms and conditions for placing sports wagers on such sites vary, but most include the following basic information: the name of the bettor, his or her credit card or e-mail account information, the wager amount, the date and time of the game, whether the game will be played in an online casino or on a television set, and whether or not the game will be played in more than one game. In addition, bettors must read carefully over the terms and conditions and follow all instructions provided.
Some online sports betting websites offer betting programs that include a variety of different games, including college football, baseball, basketball, soccer, tennis, and NASCAR racing. These programs also typically include a schedule of games for the different sports involved. Most bettors must register at the website in order to place a bet. Others must join a VIP program, which allows them to place larger sports bets that would not be eligible under regular rules.
Online sportsbooks also allow bettors to look up current news and odds for sports events within their books. This information allows them to place bets based on news and odds. The best sportsbooks can offer a wide range of information and provide updates on game scores and odds for millions of sports events. Before making a bet, it is important to find out if the website and the bookmaker have good customer service, because in the end, it is you who will have to keep track of your winnings or losses. And most importantly, do not forget to check if the site and the sportsbook can actually produce the numbers you're looking for; that way, you won't get stuck paying too much for sports betting odds.
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Enjoy The Game And Earn Money At The Same Time

The casino is a new addition to the list of online casinos in Las Vegas. You are basically allowed to play this casino via the use of your credit card. But in case you would like to play the slot machines in a more secure manner, you can get help from a guide that will give you tips on how to beat the odds. The Jokers is one of the hottest slots at the casino and many players find this one of the easiest slots to play. It doesn't take a genius to figure out that if you are on a budget and can't afford to spend a fortune playing slots, then the Jokers is the best option for you. There are two types of slots that you can choose to play at the Jokers; the progressive and the straight.
The slot game is considered as the most popular of all the slot games available on the internet. It is the closest in nature to land-based slots. If you are familiar with the mechanics of the land-based slots, then you will be able to understand what the slot game entails. When you play the joker games, you will not have the opportunity to make mistakes while playing the game. This is because there is a limit on the number of bets that you can make while playing the game.
When you place your bet, you will have the opportunity to win a jackpot of $10k. This means that the odds of winning are almost 0.1%. If you play the joker123 slot machines in a proper manner, you can almost ensure that you will hit the jackpot. There are many things that you need to keep in mind when playing the slot joker games online. One of the most important tips is to ensure that you read the instructions carefully before you start gambling. You need to learn about how the joker games work before you get into the act.
There are many people who do not understand why they should not indulge in these games when they are offering huge jackpots. In fact, many experts suggest that playing these slot machines is one of the best ways for you to earn some extra money. Playing these games online will allow you to experience the thrill of gambling without having to leave your home. In fact, you can play your favorite joker games all by yourself and you can earn money while you are enjoying your favorite activities.
You can find a number of online casinos that offer slot joker123 slot machines. However, you need to make sure that the online casino that you choose offers this slot machine for free. There are some online casinos that provide free slots but you might not be able to access them. You need to carefully look for online casinos that offer joker games for free so that you can enjoy your favorite slots games without spending any money.
Once you find a reliable joker game slot website, you can start playing the slot games on the website. You can also use the feature of the chat to interact with other players who are also using the same gambling platform as you. This will help you learn more about the different gaming platforms and choose the one that is suitable for you. In fact, it will also help you find a reliable online casino. After you have found the right online casino, you can start making money while enjoying the most enjoyable casino game.
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Playing Buce Line with the Link Joker, Bermain Slot Machines, and Buce Line Catatan

The Link Joker is a very tricky slot machine that can be spotted by the thick yellow line that stretches from the center of the reel's handle to the base of the machine. When this yellow line starts to stretch out, it indicates that you are about to hit on a jackpot. Just like other slot machines in the Malaysia market, the Link Joker has two different coins that can be reeled in for maximum jackpot rewards.
You can find the Link Joker in many casinos in and out of Malaysia. If you are looking for a fun and fast way to earn money while staying in the comfort of your home, then playing at one of the many internet casinos in Malaysia or even outside the country can be a great choice for you. While most slot machines have a fixed duration for when they will stop paying out winnings, the Link Joker has a random duration as well. Playing at the right time and having loads of luck on your side can definitely help you increase your chances of hitting it big time. To make your gambling experience more exciting, here are some tips for you to add to your success:
- Be open to different possibilities. As mentioned before, the Link Joker has an unpredictable duration when starting to payout. There are a number of people who think that they can always rely on the rule that says the longer the machine has been running, the more likely it is that you'll hit it big. This is not true, however. As a matter of fact, you can try to predict when the machine will be winding down so that you can play longer and try for more combinations. Try searching for rehabs itu and plan punyagur punyaga online so that you will have better chances of choosing the correct numbers as well.
- Know the game. It is important for you to know how the game works before you start betting so that you can create your strategy beforehand. The basic principle of the game is for you to choose three numbers from the top of the ticket and then wait for the joker to come out. The joker will then flash and then reveal the winning combination when three numbers are chosen by you from the top of the card. In order for you to know which combinations will come out, you need to consult with the game operators and bettors so that you can find out which numbers the game will choose randomly.
- Play with the normal deck. Although this may seem like an easy option, it is not because many people make the mistake of playing with regular decks that are found in casinos. You can choose to play the traditional four-decked mahjang or kalak that you find in casinos or you can also choose from the many new designs of the traditional deck that you can find in online casinos like the link joker123 slot machine and the serta just slot machine.
- Play the four-Deck System. Since the number of players in the game will be bigger than the usual three players in the normal slot machines, you should consider changing your denomination. If you have friends who are very good in playing the traditional bermain slot secure and you think that they might be useful in beating the Machines, then you can choose to play with the traditional four-deck system instead. While the chances of winning big jackpots in the traditional system will be lesser compared to the new one, it still has its share of faithful players who can really give the buat kalian and serta judi slot machines a run for their money.
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