Is it possible to become rich by trading?

[ktm]

The answer is yes.

My broker, my fellow traders and those on the other side of my trades have become fabulously rich over the years via my charitable trading practices. Fortunately for you people, I still have more money to give away.

 

[Chris Mac]

But your profile says investor and trader for 10+ years.
By that logic if you started off with 10k, 10 years ago and doubled your money trading, shouldn't you be worth at least 10.2M?

I never said I was successful at start.
Took me years and years to understand that this was about ego, psycho and process.
Seems everyone is successful with you. "Make 2/3 years of salary in only one month".
Trading is "easy", "easy money" after months of trading, then buy real estate (wow).
And you are wrong. Trading is simple but not easy.
I only say a basic truth : if you are successful at trading, don't waste any penny and trade to compound. Because this is not gambling, but repeatable process. Period.

CM

 

[Visaria]

You have to define 'rich'. What is rich to one person is not the same for another.

You may also want to ask whether you want to become rich in the first place.

 

[Scataphagos]

if it is possible so why people choose to quit it?

Not impossible, but difficult.

You're likely starting with a small amount of money... which you need to compound at a significant rate over significant time. If able to do that and your account gets large enough that you can make a significant amount of money in one year, then getting wealthy can be in your sights.

 

[ElCubano]

You have to define 'rich'. What is rich to one person is not the same for another.

You may also want to ask whether you want to become rich in the first place.

Rich = Being unconditionally happy with the hand given to you at every moment in life. Everything else is just noise papa and death is the only one that teaches the above. Unfortunately that lesson is learnt at that moment for the majority of us. Peace.

 

[Visaria]

Happy means an emotional state. Research shows the main drivers of being happy are sex, sleep and food (not necessarily in that order).

Rich alludes to material wealth and is obviously what the OP is referring to.

 

[qxr1011]

if it is possible so why people choose to quit it?

seriously?

its a kindergarten age type of question

i am surprised how many those type of questions appears here...

to me it shows the level of the wannabes...

do not trade guys , do not trade,

just grow up first

 

[ElCubano]

Happy means an emotional state. Research shows the main drivers of being happy are sex, sleep and food (not necessarily in that order).

Rich alludes to material wealth and is obviously what the OP is referring to.

That's how I define Rich.

 

[Visaria]

Ahhh...ok. I meant amount of money.

 

[Buy1Sell2]

Wow!
This is really a bad site to get advise! Coming to conclusion very few folks actually trade and implement enough risk controls in their trading process. Seems like people are using small fraction of their money in trading.

My friend, once an equities trader risks 70%+ of his net worth in the market, you'll understand what that means. They begin to understand the power of real estate in terms of cross-building equity, leverage and tax deduction of depreciation and how it can be used in conjunction with trading.

I don't mean to be an arrogant dick. But your profile says investor and trader for 10+ years.
By that logic if you started off with 10k, 10 years ago and doubled your money trading, shouldn't you be worth at least 10.2M?

Please see my previous posts on uncorrelated asset classes in trading.

TROLL ALERT TROLL ALERT TROLL ALERT!!!