Share your Rags to Riches stories

lawrence-lugar said:
If you give $5K to two groups of people....one to launch a website, and the other to start trading...

It's more possible to become an overnight (so to speak) success in trading, than it is to run a website. Sure, anybody can launch a website for virtually nothing...but for it to produce income...that's another story. It's much easier to produce income from trading.

A website earning "$5 million plus annually" in advertising is a very ...elite club, no pun intended. $1 million or even ...500K is still a Very elite club... I highly doubt ET is anywhere near this after been running since 1997...

...a trader with $5K in 1997...would be basically rich right now -- assuming, he or she knows what she is doing.o_O
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Lol! ET makes/made those numbers on a monthly basis.
 
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iamnewuser911 said:
I want to do it on my own :D

I agree that everyone is different.

Did you disable PMs?

My aim is 3 years. After 3 years I should have the first million lol...

Sorry if I sound annoying..

Any important things I should watch out of? I know to not over leverage and do stupid things like that. It just seems extremely slow at first because of my capital size, but I want to be consistent for a few weeks/months before risking larger and larger. It is kind of boring though, just waiting for setups every day.
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"It is kind of boring though, just waiting for setups every day."


In my humble opinion, great trading can and will be very boring at times. A major part of the game is discipline. Those with discipline will wait.....and wait....and wait......then strike when it's there. At the end of the month I don't care if I do 5 trades or 50. This thinking is not for everyone and believe me sitting and waiting day after day can be brutal at times. But you have to do it.

Now I am not saying that guys who do a ton trades a day can't make it. But in my experience the ones who over trade really don't get too far. Then when you figure in costs they are making much less.

From what you wrote you seem to be on the right path. Good luck man.
 
Scataphagos said:
"Congratulations"? Shoot, she's the lucky one! :)

I met her on a park bench. (You know, kind of like Aqualung.) She had a Husky puppy and a bottle of gin. I was defenseless.
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Lol! I met my Dr on elite trader. I bet no one can match that! How creepy, but it worked!

surf:)
 
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ktm said:
Like RabidTrader said a few pages back, there's little incentive to open up when you get attacked.

There are a number of guys here that have done quite well over the years. Some aren't as active here or come and go to ET in spurts every few years. I've drifted away for lengthy periods myself.

I've made and lost vast sums, ran a fund and was in the top 10 in the world (total return) for a few years. After a sizable downturn, I closed it and sent funds back. There are a few others here that I know personally - that are amazing traders and make as much they want most years.

If you're looking for incentive, there are plenty of stories out there...but you have to make your own. Patience and persistence are really the two key traits that I think are most needed to reach real financial independence. You need a workable edge, the persistence to tweak it to be reliable and the patience to grow your own money organically into a large pile.

There is so much money out there in the market just lying around waiting for someone to take it.
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To the best of my knowledge ALL of the ET trading true success stories are from prop shops. Maybe i am wrong??
 
I am not KT of KTM.

I took opm just as a natural progression of growth. It was fun for a time, but I will never do it again. The people were fine - I didn't have any pestering types or anyone that wasn't good to me along the way. The issue was the giant personal burden of losing their money. I just never want that feeling again - ever.

I've never really had a feeling or definition for success in the markets. I've always kinda felt like I have this relationship with the market that will run my entire life. Like any relationship, some years are better than others but as long the market is here and I'm here - we're going to do this dance for many years to come.
 
ktm said:
I am not KT of KTM.

I've never really had a feeling or definition for success in the markets. I've always kinda felt like I have this relationship with the market that will run my entire life. Like any relationship, some years are better than others but as long the market is here and I'm here - we're going to do this dance for many years to come.
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That's poetic.

Eminem has a song called 25yrs to life - it's about his relationship and love for music. It reminds me of this sentiment...and of what you get if caught trading on inside information.
 
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