Is anyone getting rich out there?

The original poster's attitude towards others sucks, but the man's got a point. :mad:

Looking at myself - I do trade in a "shitty apartment" and dont even have an LCD monitor. I am not a millionaire and dont live off of the market. I know some millionaires but they did not make their money in the markets. ALL the traders I know lose money.

So the man speaks the truth. It hurts --- but he speaks the truth. :eek:
 
everyone has to start off from somewhere.

Quote from svrart:

The original poster's attitude towards others sucks, but the man's got a point. :mad:

Looking at myself - I do trade in a "shitty apartment" and dont even have an LCD monitor. I am not a millionaire and dont live off of the market. I know some millionaires but they did not make their money in the markets. ALL the traders I know lose money.

So the man speaks the truth. It hurts --- but he speaks the truth. :eek:
More...
 
So, just as my first thread that started this topic pointed out, again it seems like all of you guys are losers and here is why:

1. You all sit around on your computer and insult me and others for no reason other than it makes you feel better about losing money every day

2. About 1/2 of you can't afford LCD monitors, let alone a bankroll. This is why you go to prop firms, because they will stake you and perhaps make you feel like you have legitimized your career...they give you biz cards and a place to go every day

3. Most of these day-tradng firms are now out of business, meaning you all went broke.

4. If I had made a lot of money trading, I would not waste my time on these stupid boards, I would be on my boat banging bitches

5. check out this guy's loser set up. He trades in a closet and can't even afford a desk. See the attachment below....hoe can I listent to guys like this when clearly they are not making any money, Yeah they don't have a boss, but they live in a closet by themselves.....its like "Shawshanke Redemptio" in there....pathetic

6. You all state the obvious, which means you must all be wrong. Read books, it takes 5 years to start making money, you will go broke a few times, blah, blah blah. Someone tell me something I don't know
 

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ftrade,

With all due respect to everyone else, you speak the truth. Only by judging what you have said so far. you are aggressive but you are willing to learn. You have a vision and aim high. You may already know a lot more about trading than you show... and you have touched a very sensitive spot here and no wonder you are getting flamed for that by many. But you don't need to insult anyone imo. I know a couple of traders that when they started trading 8 years ago, their work stations and apartments looked pretty bad but now they each own several fully paid high end properties in a few states.....
All that said, rather than getting defensive reading all the replies in this thread, try to pay attention to what they each say and read in between the lines! Keep the 5% ratio in mind, not everyone who posts here is successful, "yet"!! so it is your job to interpret what they say and why they say that!
Since you have come this far, you may owe yourself to give it a "calculated" try at least, imo!

Good luck!
 
ftrade is absolutely correct! The stock trading gig is fast becoming obsolete as there is NO more money in it. Most of you guys are pennying each other to death and the only ones who'll survive in the end are the brokers. Where's the dough? Show me the money! So what if somebody's got 20-30-40 monitors.
The average returns/profit from trading in most of these markets are PATHETIC! Especially considered against what many people could be earning at a decent job.
 
Risktaker:
I agree with you. What you say confirms what I believe has been true for a while now. Retail traders are very unlikely to make it. Rather than go into the reasons why (again) let me just say that this is why I suggest new traders go slow and get proper training. Even those of us with a lot of experience and a track record have difficulties making a consistent living. How can a new trader hope to make that leap without taking the time to get their skills together.

Just for laughs, ftrade is a young guy, maybe he like sports. Perhaps he likes to watch pro basketball or baseball. My suggestion, just to get a feel for what it is like, is that he takes the effort to find a pro (lets say an NBA player for example), and go up to the guy and say "hey, I am really interested in becoming a pro like you.... I think I can learn to play on your level right away.... how about teaching me or showing me what it is like to play in the NBA?" I would pay to see that one-on-one game. Or better yet, he should go find Randy Johnson and ask him to pitch a little "batting practice". Do any of you really thing the guy would be able to get a bat on the ball? We all know what the outcome would be don't we, yet here in this arena, people get all pissed off because we suggest that he take time to learn how to play this "game".

You know it is always possible that Fftrade could be the trader's version of Kobe Bryant, but it is not likely. Also if you look into this phenomena closely, you see that these young guys who make it right away are often the sons of famous athletes. Kobe's dad played in the NBA, Junior Griffey's dad played for Cincinnati. Barry Bond's dad played for the Giants, etc. They were all raised in an environment that made it possible for them to succeed. On top of that they were born with exceptional talent. We don't have a clue as to who this guy really is? Was his father a famous trader. I doubt it. Lets get real here.

People have given plenty of advice, good, bad and in between. Now it is a matter for the "gods" to decide.

See you,
Lefty
 
Quote from risktaker:

ftrade is absolutely correct! The stock trading gig is fast becoming obsolete as there is NO more money in it. Most of you guys are pennying each other to death and the only ones who'll survive in the end are the brokers. Where's the dough? Show me the money! So what if somebody's got 20-30-40 monitors.
The average returns/profit from trading in most of these markets are PATHETIC! Especially considered against what many people could be earning at a decent job.
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Plenty of money left in the stock trading gig, regardless of the pennying black boxes and other crap out there. The fact is, the excess returns have gone by the way side, but I still believe that a trader can make 10 to 12% on capital fairly easily. Now, turn up the leverage, and you can still make a very good living.

Let's say you can't get 10 points, let's say you can only get 5 pts, trade a 1mm portfolio and you are still making 50k year. That is still greater than the average salary in SOCAL. Best of all, you get this for about an 1 1/2 work, 5 days a week, no boss, no holidays. How can you beat that?

As long as there are markets, there will be profits to be made.

Good trading to all!

MIke
 
What?
Do I understand you correctly? Tie up $1M to earn a measly $50K/year?!

Might as well "invest" the money somewhere and proceed with a career, something more rewarding.


Quote from mschey:

Plenty of money left in the stock trading gig, regardless of the pennying black boxes and other crap out there. The fact is, the excess returns have gone by the way side, but I still believe that a trader can make 10 to 12% on capital fairly easily. Now, turn up the leverage, and you can still make a very good living.

Let's say you can't get 10 points, let's say you can only get 5 pts, trade a 1mm portfolio and you are still making 50k year. That is still greater than the average salary in SOCAL. Best of all, you get this for about an 1 1/2 work, 5 days a week, no boss, no holidays. How can you beat that?

As long as there are markets, there will be profits to be made.

Good trading to all!

MIke
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