Just sold my business for $250k
- Thread starter Rob Johnson
- Start date
yeah.. trading is easy for you,but you can't define trend on chart i've provided..
http://www.elitetrader.com/vb/showthread.php?s=&postid=3492303#post3492303
when you jupm in trading, the clock set back to zero.
if you already successful in other business, then better stay at what you are good at.
trading looks easy. particularly look at those charts.
you may think "o ya, if I buy here, how much I will make; if i sell here how much I will make..."
that is illusion. you need vision toward the future, not the after-fact chart.
can you tomorrow's chart? NO, you can not.
just like other business, though time and space is not critical here, most business needs time to build up, also space to run. in trading, winning lottery kind of things happen everyday, you may build up quickly overnight or a couple of trades, and you are multi-millinoaire.
but there are other issues: how about if you lose? how do you handle it, keep digging? or how about you win, and you will not give back profits, what kind of profit protection stragtey you will use?
suppose your account size 200k, then you somehow make it into 500k, the additional 300k, how do you handle it or protect it?
you said you sold your business, and get 250K, the things is like your profit, now you want to risk the $250k profit while not protect it!
if you already successful in other business, then better stay at what you are good at.
trading looks easy. particularly look at those charts.
you may think "o ya, if I buy here, how much I will make; if i sell here how much I will make..."
that is illusion. you need vision toward the future, not the after-fact chart.
can you tomorrow's chart? NO, you can not.
just like other business, though time and space is not critical here, most business needs time to build up, also space to run. in trading, winning lottery kind of things happen everyday, you may build up quickly overnight or a couple of trades, and you are multi-millinoaire.
but there are other issues: how about if you lose? how do you handle it, keep digging? or how about you win, and you will not give back profits, what kind of profit protection stragtey you will use?
suppose your account size 200k, then you somehow make it into 500k, the additional 300k, how do you handle it or protect it?
you said you sold your business, and get 250K, the things is like your profit, now you want to risk the $250k profit while not protect it!
Trading is the "hardest easy money" you're ever going to make.
Trading the markets requires a specialized skill set. Once you "get it", seems easy. Ain't easy "gettin' it".
Trading really EZ:
Holy Grail:
Buy low, sell high, don't lose money!
Ur set!
Holy Grail:
Buy low, sell high, don't lose money!
Ur set!
For $100,000 I can show you how to trade a $100,000 account. Plus, we can have weekly chat room talks and even live phone conversations. I'll do youtube videos and even a chart on a blog so you can see what happened and what I thought after it happened. I only spent about $11 on my website, but trust me.....I am a super great trader!!!!
Ask a barber if you need a haircut. 99% will say "yes". So now you ask "traders" or "educators" if you should trade? LOL
since 90% lose, it's important to fade every advice you get from every "educator" you ever meet.
Ask a barber if you need a haircut. 99% will say "yes". So now you ask "traders" or "educators" if you should trade? LOL
since 90% lose, it's important to fade every advice you get from every "educator" you ever meet.
LOL! Closer to the truth than most would want to admit.
Rob, can you become a competent dentist in 6 months?
6 years is probably more reasonable. After college that is.
Stick with what you know. Anyone who has built/owned/run/sold multiple businesses knows its a minimum 10+ hrs day at least 6 days a week to accomplish such a thing.
Expect no less commitment in becoming a profitable trader.
Anyone who tells you otherwise is: lying, an ignoramus, or trying to sell you something.
Good health to you and your family.
Bottom line is this...
It can take a year or five for you to figure out how to trade profitably.
In contrast to running businesses you should be able to determine or estimate profitability prior to opening the business. In other words, as you probably know, you should have pre-orders or an estimation of demand prior to making a huge investment.
If you can't demonstrate profitable trading with a micro-account or generate pre-orders or demand then you are just gambling.
It can take a year or five for you to figure out how to trade profitably.
In contrast to running businesses you should be able to determine or estimate profitability prior to opening the business. In other words, as you probably know, you should have pre-orders or an estimation of demand prior to making a huge investment.
If you can't demonstrate profitable trading with a micro-account or generate pre-orders or demand then you are just gambling.
Constant profitable trading is one of the most difficult and stressful proffessions out there.
Although if you can call yourself a pro trader and grind out a living of it, it is very stressfull very often.
When i started to build up strategies, i thought i will make every day 3-5 trades for each 10-20pips and leverage up until infinity.
Now, i ended up, being a swing trader and its like playing chess, a very slowly chess game. And if i do the wrong thing, i lose money.
This is very stressfull and the only true reason for what i hate my trading, for costing me so much time and nerves.
But on the other hand, every other job i could do, would be worse, especially the money i would earn.
Making money is never easy.
You might think about putting your money into a save interest haven, for 5% a year, for example in Australian Dollar, with offshore banking. = Zero risk and safe 5%. Its not much gain on 250k, but better than nothing.
for example:http://www.expat.hsbc.com
or if you would accept some risk, than you can put your money into a hedgefund.
for example from this fellow here: http://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=27611
He will be the new George Sorros in hedge fund performance.
LOL
Good luck
Although if you can call yourself a pro trader and grind out a living of it, it is very stressfull very often.
When i started to build up strategies, i thought i will make every day 3-5 trades for each 10-20pips and leverage up until infinity.
Now, i ended up, being a swing trader and its like playing chess, a very slowly chess game. And if i do the wrong thing, i lose money.
This is very stressfull and the only true reason for what i hate my trading, for costing me so much time and nerves.
But on the other hand, every other job i could do, would be worse, especially the money i would earn.
Making money is never easy.
You might think about putting your money into a save interest haven, for 5% a year, for example in Australian Dollar, with offshore banking. = Zero risk and safe 5%. Its not much gain on 250k, but better than nothing.
for example:http://www.expat.hsbc.com
or if you would accept some risk, than you can put your money into a hedgefund.
for example from this fellow here: http://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=27611
He will be the new George Sorros in hedge fund performance.
LOL
Good luck