Other than Livermore's ending which was well publicized, I don't think a lot of people know that Trader Vic blew up in the 90s... apparently by taking on too much risk than he could afford. Overall, I think 5pillars is right on, when you read the success stories, they have a high correlation with persistence in the face of adversity. I'd add that persistence should be accompanied by a willingness to learn from one's mistakes and redirect oneself along the way.
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What Does it Take to Make it Big?
- Thread starter aeliodon
- Start date
Other than Livermore's ending which was well publicized, I don't think a lot of people know that Trader Vic blew up in the 90s... apparently by taking on too much risk than he could afford. Overall, I think 5pillars is right on, when you read the success stories, they have a high correlation with persistence in the face of adversity. I'd add that persistence should be accompanied by a willingness to learn from one's mistakes and redirect oneself along the way.
Find a volatile stock like GOOG or CDE and daytrade it. It has patterns that are easy to spot and when they turn, you can churn these for daily gains.
1. really truly lenjoying and wanting to work in the market. not just wanting to get rich.
2. Willingness to dedicate your life to it
3. intese study every day for years
4. safrifice
5. ability to believe in yourself
6. Humility
7. self control
8. emotianal stability.
so hey....its EASY!
2. Willingness to dedicate your life to it
3. intese study every day for years
4. safrifice
5. ability to believe in yourself
6. Humility
7. self control
8. emotianal stability.
so hey....its EASY!
So how many are entitled to answer it???
I'm still not BIG enough to answer it.
I'm still not BIG enough to answer it.
Quote from dac8555:
1. really truly lenjoying and wanting to work in the market. not just wanting to get rich.
2. Willingness to dedicate your life to it
3. intese study every day for years
4. safrifice
5. ability to believe in yourself
6. Humility
7. self control
8. emotianal stability.
so hey....its EASY!
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9.)Not needing the money to live on so you only take high probability trades, and aren't desperate to close good trades early.
Here is how one guy made it big through the markets - to the tune of about $500 million a year. (Thomas Peterffy, Chairman Interactive Group).
http://www.iinews.com/site/pdfs/IIMag_InteractiveBrokers_Nov_2005.pdf
http://www.iinews.com/site/pdfs/IIMag_InteractiveBrokers_Nov_2005.pdf
Quote from midlifeguy:
Find a volatile stock like GOOG or CDE and daytrade it. It has patterns that are easy to spot and when they turn, you can churn these for daily gains.
If GOOG and CME (I'm sure you meant CME and not CDE) are so "easy" to trade, you should be banking well into 7 figures this year.
But....Since you're not doing anywhere near those #'s, you should relax with the "EASY" bullshit.