Derby List Last 200 Messages

[WESTON, ALLAN F via Derby]

Ed DeRosa writes:

>12% commissions... never had a chance

Listers,

Could have been zero commissions and it still would have failed.

The main fallacy is that the exchange is a betting platform.

It is not.

It is above all a trading platform. Where the main reason for trading is to make money, not to have money on the winner.

New Jersey bettors never fully comprehended that fact and refused to trade. I was all buy and hold betting on straight wagers. 
It took me a while to understand what the exchange actually is. (thanks Dave)

I made money on trading in and out of markets, not my handicapping prowess.

My wife (who goes with me sometimes to Monmouth) was amazed that I would make money and the horse I loved lost.

Gotta change my mindset back to picking winners instead of making money trading horses on the X.

You can never go home again.

Allan
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