Trading for a living OR Trading for a fortune

[eagle488]

I think your reading too much into this. Just look at this chart of unemployment claims, it is very telling.

http://www.briefing.com/Investor/Public/MarketAnalysis/Calendars/EconomicReleases/claims.htm

When unemployment claims are at their lowest, then suddenly there is a sudden rise. Look at what happened in the late 80s. Everyone had a job and was feeling comfortable and then there was a sudden rise in unemployment claims.

This chart is over the course of years and its not quite at the low yet. However, it does suggest we are getting to a point where there might be an unusual spike. I would start to get worried when it reaches the low it hit in 1999-2000.

Im not worried about a housing crash or a stock market crash. It only gives rise to opportunities.

Quote from Mvic:

I don't doubt that the US will see some very hard times ahead given the fiscal irresponsability of the past 6 years. The US comptroller is going around the country saying that in order for the US to meet its obligations taxes are going to have to DOUBLE. Each man woman and child's portion of the national debt is $156K, up some vast amount since 2000. Where is the driver that will allow us to grow our way out of this mess? Earnings and margins are at record levels with not a lot of upside left after a few years of significant cost reductions and lay offs. productivity growth has slowed and probably peaked. The government and many large corporations have huge unfunded health and pension liabilities that will come to bear in the next decade and US demographics will add additional pressure on the tax base.

Yes it can get very bad, but no signs of it being imminent yet.

This year looks more like a repeat of 2004 to me and at the moment everything points to a strong finish to the year. If the pattern repeats we should see signs of weakness in this bull around the end of Dec, but maybe not. For now the high probability trade is on the long side.

 

[eagle488]

You know what an IBM selectric is. Tell me real quick without looking on Google. You probably dont know, do you... Its a typewriter that was invented in 1961.

I was taught to type on that machine in a high school classroom. It was actually a class. In that room, it was filled with these things. In order to pass the class, you had to type at a certain words per minute and with a certain accuracy. Now with an old fashioned typewriter, you cant just go back like you can on a computer. So in order to pass that class, you needed to type something without looking at the keys and the teacher used a stopwatch.

Over the years, I have used many different variations of computers, typewriters and keyboards. Apples, Commodore 64s, 8086, 80286, 80386, 80486, Pentium, Pentium II, Pentium III, Pentium 4, and now I have this AMD dual core.

I can type real fast and dont have to look at the keyboard. Maybe if they taught you how to type in that manner then you could actually write something long and drawn out.

As for owning multiple properties and stocks, I have news for you Nik. Life doesnt suddenly end after 30. Just be patient and calculating. Over time you will get there too.

As for time management, organize yourself to a point where you can manage multiple things at once. I once worked for two account executives at a REIT a long long time ago. One guy, came in at 6am and didnt leave until 6pm. He worked his ass off and it always seemed like he was on the phone. The other guy came in at 9pm and left around 2-3pm. The guy who worked his ass off made less money, while the guy who was never around made a lot more.

Quote from traderNik:

Wow! Amazing that a man with that type of business interest would post here 600 times in 60 days!!

 

[scriabinop23]

i think most of the people (whether jealous or just annoyed) here find it unbelievable that you own 33 properties, etc. considering that you are telling everybody and posting in the way you do.

Now I would get a real kick out of you proving everyone wrong and posting your name publicly, as well as links to all of the properties on the New Jersey property tax website. I think that would be pretty impressive, and shut some people up. Until then, its unarguably likely bullshit.

 

[madmunny]

im here trading to make it so that by the time im 40 i never have to do another minute of work unless i chose to!....does that mean make a fortune....no....it means my house (maybe 2 of them), cottage, 2 vehicles and my kids colledge tuition is already paid for. If after all that i have a couple million kickin around that allows me to improve my golf game to a par golfer that would be great.....really really reall great!

 

[socalpt]

I chose trading because I am sick of getting kicked around in the work place. With so many opportunities to make money in trading, I am now seeking gold at the end of the rainbow.