Can the average blue-collar person w/ high school education get rich thru Trading?

[Hansel H]

By the time you develop a 'gut feel' for the market you'll have blown out your account several times over.

I'd say the odds against you are staggering. After you've studied technical analysis for a year or two and tested it against the market on paper the odds against you might drop to merely huge.

I've seen so many really, really gutsy and educated traders go broke - including many right here on ET.

In any case you're coming into the market at a bad time - much too volatile for a newbie.

The race track is much easier.

Don't.

 

[vikana]

Possible "yes"; Likely "no".

Everyone I know that's successful in trading works extremely hard, questions everything every day, are comfortable with risk at some level, have a sound(!) statistical edge, and have the ability to get back up when sh** happens (which it does).

A related characteristic to questioning everything is to evolve your methodology continuously. I know of very few edges that have remained robust for long periods of time.

Everyone I know that's made serious money trading have those characteristics.

If you can sign up for those commitments, go for it.

 

[volente_00]

Quote from austinp:


Most fail because they think this is some kind of gambler's nintendo game. Trading is not any of that

I thought this was a gambler's atari game

 

[volente_00]

Quote from HATEtheRisk:


The only SECRET to WIN is, "you must never give up" just try it once more, once more, thats the difference of a winner and a looser. The looser gave up.

"The one defining characteristic of successful traders is their refusal to quit in the face of adversity"

 

[Random.Capital]

Quote from Longcat1982:

Can a person with a blue-collar career and salary be expected to get "rich" in his lifetime through Trading stocks?

Can? Yes.

Expected? No.

Most people who "never give up" do not outperform the average lifetime outcome.

 

[ElectricSavant]

I agree...

But its who you know also...I have made several friends here who have helped me out...

ES

Quote from Random.Capital:

Can? Yes.

Expected? No.

Most people who "never give up" do not outperform the average lifetime outcome.

 

[HATEtheRisk]

Quote from volente_00:

"The one defining characteristic of successful traders is their refusal to quit in the face of adversity"

and what have that to do with my quote ???

Absolutely nothing.....

 

[HATEtheRisk]

Quote from Longcat1982:



Can a person with a blue-collar career and salary be expected to get "rich" in his lifetime through Trading stocks? [/B]

No, but through Trading Forex.

Once you are rich, than you can trade stocks.

 

[Visaria]

I note very few people actually become rich doing anything. Apparently the percentage of households in the US who have a $1m net worth (excluding primary residence) is about 3%.

 

[newwurldmn]

Yes. That's what's great about this country. If someone is willing to take risk they can achieve great things. It's not entitled to them, and it generally takes hard work, ingenuity, and lots of luck, but success can come from anywhere.

In many other countries your life's opportunity set is determined based on which highschool or college you get placed in. It's much less so here.