Marc Cuban on Day Trading

I dont understand why you bring this up. I agree with you that health is more important but that wasnt why I responded to your post. You emphatically said that "NONE WERE TRADERS" when looking at the Forbes list. I'm merely saying that there are MANY degrees of wealth, you dont have to be a multi billionaire to have great success in your field. If you are a very good independent trader who makes 7 figures year in and year out, you are doing very well, not to mention freedom, flexibility, no boss to deal with etc etc.

To me, I dont care what Cuban says on this matter. Most people fail in any endevour that is rewarding financially, the fact that many fail at trading is no surprise.


Quote from myminitrading:

It all depends on what your use to, for me, shoot I can have a wonderful life just being healthy, thats the real gift being healthy.

No amount of money can buy great health. You ask a super rich person who is ill and in poor health if he would give away all his money to be healthy he would say hell yes.
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mde2004

Larry craig is a legend in his trailer park in Idaho also. Cuban is a total jerk. He reinforces the saying that brains are not needed to make money. Money does not make the man.
 
Quote from Steve Tvardek:

I dont understand why you bring this up. I agree with you that health is more important but that wasn't why I responded to your post. You emphatically said that "NONE WERE TRADERS" when looking at the Forbes list. I'm merely saying that there are MANY degrees of wealth, you dont have to be a multi billionaire to have great success in your field. If you are a very good independent trader who makes 7 figures year in and year out, you are doing very well, not to mention freedom, flexibility, no boss to deal with etc etc.

To me, I dont care what Cuban says on this matter. Most people fail in any endevour that is rewarding financially, the fact that many fail at trading is no surprise.
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You also don't have to have all your capital gains from trading, opportunities are out their, I am bidding on foreclosed property here in Dallas today.

I just look for opportunities, the financial markets are one of many places to look.
 
By your own admission you arent a very good trader, no wonder you agree with him. If YOU cant do it, no one can!

Quote from mde2004:

I agree with Mr. Cuban, a legend around town where I am from.
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I agree with steve tvardek.

Cuban speaks like an smart ass who think that he can speak of everything because he have some millions, but in the end, she knows shit about this.
 
Quote from Sethaholic:

QUESTION: How much time do you spend day-trading?

MARC CUBAN: None, zero. I think only idiots day-trade. Over the last 10 years the business of trading stocks has been very specialized. There is more professional brainpower and money applied to picking stocks than ever before. Anyone who thinks they can beat the market day-trading over the long term is just waiting for their luck to run out.

http://www.midasoracle.org/2007/08/24/marc-cuban-on-day-trading/
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Marc Cuban sucks . His team (dallas mavericks ) has an all star starter line up an they choked 3 times going to the NBA finals/semifinals .It takes good leadership to win a championship not having the one of the highest payrolls and still cant win a championship. He must be a real idiot!!!!!!
 
Quote from Sethaholic:

QUESTION: How much time do you spend day-trading?

MARC CUBAN: None, zero. I think only idiots day-trade. Over the last 10 years the business of trading stocks has been very specialized. There is more professional brainpower and money applied to picking stocks than ever before. Anyone who thinks they can beat the market day-trading over the long term is just waiting for their luck to run out.

http://www.midasoracle.org/2007/08/24/marc-cuban-on-day-trading/
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Obviously, when you're a billionaire why would you want daytrade?
 
I doubt that day trading retail style is the optimal vehicle to be able to fly around Europe in your own jet. Most of those if not all, made their money in a different way. They never took the time to learn and understand day trading, so they look down on it. Also, with such a high rate of failure who could blame them.
Having said that, I think it is possible to make a nice living day trading. A reasonable goal once you learn the ropes and come up with solid plan and an edge, you could on average make 1K/day, which translates into 200K a year ( excluding 2 months off at various times during the year for vacations). Making that kind of $$$$ will certainly put one in the top 5% in the US. Would many want more? Most definitely, but the abovementioned figures are very decent and would undoubtedly allow one to have a high quality lifestyle.
 
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