I'm the 99%, but I back the 1% because I'm trying to get to that 1%.
Are you the 99%?
- Thread starter peilthetraveler
- Start date
Hmmm
http://www.financialsamurai.com/2011/04/12/how-much-money-do-the-top-income-earners-make-percent/
That is a lot of money.
http://www.financialsamurai.com/2011/04/12/how-much-money-do-the-top-income-earners-make-percent/
That is a lot of money.
Oh wow...I didnt realize the top 1% was only $380k per year. I thought it was over $1 million.
I'm with you on that one.
This makes me wonder, if you're part of the 99% trying to get to the 1%, can the 1% screw you? Ehhh...maybe once till you catch on. maybe that's the problem with the 99%, they keep getting the shaft day after day.
I know this guy, hardly speaks any english. Worked for GE 30 years and retired. I would guess he has high 6 figures of ge stock he has been buying since he started working there. ya think he is a 99%?
I have averaged enough to put me just over the bottom of the barrel of the 1% barrier (380k) for 3 years of earnings, but im scared shitless every time i hit a draw down that day trading will cease to be profitable, as i have seen many changes in the industry which have put alot of people out of business.
I am currently about 100k underwater from my high level mark in august for this year, and every time i go through this kind of drawdown I am scared that I'm going to have to go start looking for another job. I am the furthest thing from "rich" a person could imagine.
Right now i am at the precipice, if trading continues to work for me for a few more years, i will have nothing to worry about, if trading all of a sudden ceases to be a viable option over the next couple years i will be unemployable, as i will be in my mid thirties with no work experience, and only a bachelors degree in commerce to fall back on.
This is something I worry about constantly, and it is a problem that no one on the left ever seems to think of when they make the decision to tax the shit out of anyone who made a few dollars in the previous taxable year. No one ever gave me a dime, and i dont expect it, all i ask is that the government stays the fuck away from me while i try to enrich my own life, beyond that i will live with the consequences my own life created for me. (good or bad)
I am currently about 100k underwater from my high level mark in august for this year, and every time i go through this kind of drawdown I am scared that I'm going to have to go start looking for another job. I am the furthest thing from "rich" a person could imagine.
Right now i am at the precipice, if trading continues to work for me for a few more years, i will have nothing to worry about, if trading all of a sudden ceases to be a viable option over the next couple years i will be unemployable, as i will be in my mid thirties with no work experience, and only a bachelors degree in commerce to fall back on.
This is something I worry about constantly, and it is a problem that no one on the left ever seems to think of when they make the decision to tax the shit out of anyone who made a few dollars in the previous taxable year. No one ever gave me a dime, and i dont expect it, all i ask is that the government stays the fuck away from me while i try to enrich my own life, beyond that i will live with the consequences my own life created for me. (good or bad)
You have to put another iron in the fire.
It will make your trading better.
I made money daytrading for a 5 to 7 years but then I got married expenses went up and trading got more difficult.
I could not tolerate much drawdown... so I had to do something else.
Had I had another iron in the fire. I would have just traded less for a while until my style work well again or I could tolerate a bit more drawdown.
I went down about 15,000 off my high and quit daytrading. (it was also the time wasted... as I was still profitable before commissions.)
Now I work my butt off. Make good money, but hardly have time for swing trade.
It will make your trading better.
I made money daytrading for a 5 to 7 years but then I got married expenses went up and trading got more difficult.
I could not tolerate much drawdown... so I had to do something else.
Had I had another iron in the fire. I would have just traded less for a while until my style work well again or I could tolerate a bit more drawdown.
I went down about 15,000 off my high and quit daytrading. (it was also the time wasted... as I was still profitable before commissions.)
Now I work my butt off. Make good money, but hardly have time for swing trade.
I think most of the 99% believe there is no way they can ever be in the 1% unless they hit the lottery which is why they always have this "us against them" mentality.