***my First Post***
- Thread starter I Trade 4 Money
- Start date
I Trade 4 Money,
Are you Brian Hunter?
Are you Brian Hunter?
Dead wrong!
The more I think about the money the worse I trade. When I focus on the process and staying disciplined the better I trade. Setting a realistic goal is possibly the most important thing a trader can do. When you set a goal that is unrealistic you will try to beat the market instead of taking what it gives you. I'm not saying you won't make a million by 30 or 200,000 by 2008 but just because you've read the success stories of a number of successful traders you need to realize that they paid their dues and were willing to sacrifice a lot to get to that point. It's a marathon not a sprint, take a little every day and that will become a lot in the end.
Quote from I Trade 4 Money:
Hello. I would like to take this time to introduce myself. I want a lot of money. I'm 24 and I want to be a millionaire by the time I'm 30 and over 10 million by the time I'm 40. I have no debt. I currently trade with the 23,000 that I have in my Scottrade account. Just 2000 more and I get 4:1 leverage. I could use the 6000 I have in my bank account to get that stupid 4:1 SEC rule requirement, but if I can't make 2000 with 23,000 with 2:1, quite frankly, I don't deserve that 4:1 leverage. At this point in my life, I would consider myself a "loser" for a lack of a better word. I still live with my parents (lame excuse #1: Want to save every bit of money I have so my trade account get's bigger and bigger). I have no car (lame excuse#2: Same as lame excuse #1). I have no girlfriend (lame excuse #3: Same as lame excuse#2). My first goal is to turn from a loser to a winner. In order to do this my first target goal is to have at LEAST 200,000 in my account by the end of 2008. You may ask yourself, how in the hell I'm going to make that kind of cash in that short of a time period. One word my friends: LEVERAGE. As soon as I increase my 23,000 account to 30,000, I'm going to get a loan for 30,000. Since I have good credit, I can get a loan for less than 8%. Put that 30,000 with my other 30,000 and now I have 60,000 in my account. With 2:1 leverage that's 120,000. If have enough experience to scalp by then, I might decide to use the 4:1 leverage. By that time, I obviously need to find a better platform than Scottrade, one that has low transaction costs for high volume traders. You guy's got any suggestions for any good platforms? Anyways, that's my plan for the time being. I'll give updates from time to time. Thanks for reading.
man, i wish i had your age, but my experience lol
edit, get the hell outta scottrade and go to interactive brokers or something
In the process.
ever since i became a profitable trader i have basically never ever thought about money.
if you think great traders trade for the money ur dead wrong. If you take some time and talk to succesful traders ull learn one thing: none of us do it for the money, we do it cause we love it and cant think of anything mroe we'd like to do. I bet if i offered some of the traders in ET 50k a yr trading or 70k a yr in a job, a good majority of them would choose trading even if it pays a little worse cause every day when they wake up theyll look forward to it.
btw i was an investment banker before i became a trader. I earned twice as much before as i do now, but im triple as happy. Do what u love, not what pays you the most, money is great but it doesnt make you happy.
if you think great traders trade for the money ur dead wrong. If you take some time and talk to succesful traders ull learn one thing: none of us do it for the money, we do it cause we love it and cant think of anything mroe we'd like to do. I bet if i offered some of the traders in ET 50k a yr trading or 70k a yr in a job, a good majority of them would choose trading even if it pays a little worse cause every day when they wake up theyll look forward to it.
btw i was an investment banker before i became a trader. I earned twice as much before as i do now, but im triple as happy. Do what u love, not what pays you the most, money is great but it doesnt make you happy.