Is it possible to become rich by trading?

Neuroway said:
Ditto, DaveV. Perhaps the person who asked the question should ask first: "Is it possible to become rich by being an employee?"
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You should ask many of the retired aerospace engineers in SoCal. Many retired as millionaires because of their pensions. They can take lump sum > $million payout. Or ask any Google employees, I know employee #300, Google told he they could not afford to pay market rate so paid him small salary + stock options. He retired after 5 years at age 30 never have to work again.
 
No need to ask! I believe you! So we know for sure that it's possible to become rich by being an employee. But we still don't know if it's possible to become rich by trading, though. All right, gotta go now. Please do excuse my wicked sense of humour, ironchef. :cool:
 
You can become reach almost in every sphere if you really want to. As the practice shows, there are rich and successful traders here. That's why it's a good opportunity to become rich.
 
How much money does it take to be considered "rich"?

"According to research by American bank Charles Schwab, that benchmark has risen, and you now need at least $2.4 million to be considered wealthy.

In its survey of Americans aged 21 to 75 the bank asked how much people felt you needed to be considered "wealthy," and found that people believed that having $1 million only makes a person "financially comfortable" rather than well-off.

Though there are now a record number of millionaires in the U.S., according to the Spectrum Group’s 2017 Market Insight report, they still only make up around 10 percent of the country's population.

The $2.4 million required to be considered wealthy is 30 times the $80,000 net worth of the average American household, according to the latest figures from the U.S. Census Bureau."
 
InTheMaking said:
I do every sort of RE deal except for get a single-family residential and get tenant for a 1 yr lease. This is akin to buying 1000 shares of IBM and getting rich from the 3 to 4% yield.

There are much more interesting RE deals through Apartment investing using OPM (syndication), land deals and parcelize it. If you know the Dallas market, not all parts of Dallas has had appreciation. There is several mispricings for both land and properties in certain pockets of our city. Same as there are mispricings with stock when there is panic selling. With stock, I have to buy whatever the market gives it to me at. With RE, I can negotiate and certain cases do more creative deals.

Anyways, we should connect up. Do you attend any of the local Option Traders meetups?
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Lived in TX for about 6 months+ visit some. As far as options+ real esate , i saw KBH again , in IBD news paper/option article,; some time later, NOT in a hurry, i sold it-plenty liquid LOL+ true.:caution::caution::D
 
Yes undoubtedly forex can provide opportunities to its stakeholders to become rich. But it is not a matter of cup of tea. It is not that a trader can earn money just by involving random forex trading. Rather, for becoming successful, each trader requires a great deal of knowledge, skills and expertise along with a strong intellectual ability to select the best trades for him and he should have the psychological capacities to handle any state of affairs. Forex traders have to hold serenity and persistence so that they can handle unfavorable situations.
 
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