Re: [RT] Livermore and bucketing an order

["ira" <mr.ira@xxxxxxxxxxxxx>]

A bucket shop sells worthless paper to the unwary 
and has no risk of the stock going against him as it is usually so obscure that 
there is little or no volume other then that generated by the bucket shop.  
The real bookie, like the true professional trader and the real professional 
gambler does not take unlimited risk.  They play probabilities which is a 
form of limited risk with unlimited profit potential.  Now the real 
smart bookie uses what is known as Cross Betting and no matter who wins he can't 
lose.  The real trader knows how to use all of the tools, options, futures 
and stock in order to limit risk from zero to infinity and come out with a 
profit.  Really large traders use arbs with little to know risk and make 
very little on large volume for a large total.  Like everything else, there 
are thousands of ways to play the game and those who understand how to play it 
will come out with the cash.  Someone stated a long time ago.  If you 
took all the money in the world and divided it equally among the entire 
population that those who are wealthy now would be wealthy again and those that 
are poor now would return to being poor.  I believe that he did exclude 
those who were rich through inherited wealth. Just a cynical response. 
Ira.
<BLOCKQUOTE 
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  xinos@xxxxxxx 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Friday, January 03, 2003 3:35 
  PM
  Subject: Re: [RT] Livermore and bucketing 
  an order
  <FONT lang=0 face=Arial 
  color=#008080 size=2 
  FAMILY="SANSSERIF">       I have also read 
  the book.  Fun wasn't 
  it?            A 
  "Bucket Shop" wasn't a true broker in those days, who relayed your order to 
  one of their men on the floor of the exchange.  They were exactly like 
  today's sports bookies who take your bet, taking the risk themselves, instead 
  of lining up two bettors on each side of the 
  wager.             
  Dan Nicholas; San Diego To 
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