From $5000 to Trading for a Living. Is it possible to?
- Thread starter MarkWin
- Start date
Well, maybe not so much those strappy ones, with 5" heels ...
Well, maybe not so much those strappy ones, with 5" heels ...
If you ever go to a black church in the South, 2:1 odds that the preacher is wearing alligator shoes!
Most likely those are faux alligator shoes, alligator print shoes.
Alligator/crocodile shoes can get pricey, specially if they are Gucci or some other high-end European label.
More than half of Americans don't even have $1,000 saved up in their bank accounts.
A significant number of people are virtually on the constant brink of bankruptcy god forbid they have a serious expense of some sort.
Black people, specially in the South, are poor.
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Preachers, in the South, are not poor - even in small churches. Those dudes are riding in style and the shoes are real; just like the car they drive and house they live in.
And just for fact checking purposes, my black friend Chevelle retired at 40. CPA for the Home Shopping Network.
Google TD Jakes. Dudes got more money than you! Bet on that!!
-------------------------------------------------------------------------------------------------------This - exactly.
To say more or less the same thing at much greater length (my forte), it's perhaps possible for someone who ...
(i) is already familiar with all the details and practicalities of both risk-management generally and specifically trade-management s/he's going to need, and is in this sense more or less an expert to start with (that's a really tall order, because statistics and probability are counterintuitive subjects to most people, but it could be achieved by someone with all the appropriate education in the first place, who then practices on demo for thousands of hours, before starting);
(ii) has a genuine, proven edge that lasts (this implies having all the skills to develop, identify and analyze it);
(iii) has real patience and discipline, realistic expectations of what's achievable and over what time-scale, and few-to-no emotions around financial matters;
(iv) has enough to live on without withdrawing anything from the trading account until after it's built up a lot; and ...
(v) has many years over which to achieve it.
But take away any one of those five preconditions, and no: it's almost certainly not going to be possible.
Xela, That's a brilliant master class assessment.
Should be required reading for every trader with a small account.
Everything is possible.
Positive experience.
In 2008 crisis, I move all my poftfolio to one stock. Citibank.
At this time I bougth the stock 3 times, with an average prices of USD 1.8. It was a inverse split on time 10:1. So this price is equivalente to USD 18 today. Now the price is USD 68.
I broke the rule of a diversify portfolio, but it works. Another bank collapse will be catastrophic was my thought at this time.
Negative experience
I used part of the gain to a long position of NUGT.
Due to crash, I believe gold price will be solid. I was wrong.
I invested about USD 15,000 in NUGT. My ego said, one day it will come back to his price. Finally, I lost almost all this money.
Positive experience.
In 2008 crisis, I move all my poftfolio to one stock. Citibank.
At this time I bougth the stock 3 times, with an average prices of USD 1.8. It was a inverse split on time 10:1. So this price is equivalente to USD 18 today. Now the price is USD 68.
I broke the rule of a diversify portfolio, but it works. Another bank collapse will be catastrophic was my thought at this time.
Negative experience
I used part of the gain to a long position of NUGT.
Due to crash, I believe gold price will be solid. I was wrong.
I invested about USD 15,000 in NUGT. My ego said, one day it will come back to his price. Finally, I lost almost all this money.