Is trading only a hobby or job for the rich?

qxr1011 said:
love is great !

but 300 lbs woman that loves ballet will never be a ballet dancer ...

so before everybody is talking about fire and love I would just recommend to get on the scale.... :)
More...

Just like the mathematical inept sooth their losses by preaching and staring at charts ( so easy even a caveman can do it) their time is long past.

I think i remember that Baron wrote a brilliant post awhile ago about how traders need to morph into programmers etc to survive todays market.

surf
 
lucysparabola said:
lol ^ I worded my post very precisely.

Surf, one guy, and a slew of others anecdotally from him. (riskarb). I'm on the path. Two more years and I can call myself wealthy as f*ck.
More...

For the most part those guys are complex derivative traders with non-retail level access, extreme intelligence, and a mind for risk analysis. Thats a whole other ball game from the typical chart prayer.
 
Surf is right to make big money you need to bet big unless you have boatloads to start with.

The downside is you lose 100% of your money the upside is unlimited.
 
marketsurfer said:
You need to understand you could lose it all when you start out-- yet the potential is there to make a huge profit.
More...

I don't quite agree "losing it all" has to be a probable option, though its always possible. A simple (yet not fool proof, it is a trade off) way to avoid blowing up your initial stake is to make a distinction between initial capital and accumulated gains. So for example you could risk a small fraction of contributed capital, and a larger percent of accumulated gains that is closer what the trader views as optimal for growth. It is not going to work for "income" traders but it can help a trader who does not mind serious volatility yet does not want to lose their initial stake.
 
MrN said:
I don't quite agree "losing it all" has to be a probable option, though its always possible. A simple (yet not fool proof, it is a trade off) way to avoid blowing up your initial stake is to make a distinction between initial capital and accumulated gains. So for example you could risk a small fraction of contributed capital, and a larger percent of accumulated gains that is closer what the trader views as optimal for growth. It is not going to work for "income" traders but it can help a trader who does not mind serious volatility yet does not want to lose their initial stake.
More...

Yes you are correct when talking about capitalized traders. But remember, this thread was focused on a self described "poor" trader. I would guess this means a very small account making dividing initial capital and gains impossible on numerous fronts. surf
 
I'm a hobby trader who is slowly growing the account to get to a full time position when required in a short enough period of time to make it a viable if not risky option lol

So yes from a small account in 10 years you can hack away at it and get to full time amounts.

Time and energy is the main issue or lack of, I should be making $300 easy per day most days on the side, but yeah.


Go for it, it's fun trying better than paying WOW!
 
You must log in or register to reply here.
Back
Top