what really makes money in real life?
- Thread starter coolweb
- Start date
What makes money?
The intelligence to recognize an opportunity and the ability to capitalize on it.
The intelligence to recognize an opportunity and the ability to capitalize on it.
Opportunity is what really makes money in life ?... I agree to a large extent.
The key is what do you do with this realization ?....
Do you keep taking shortcuts and easy ways to look for opportunities?
Or do you sit around relax and wait for opportunities to find you ?
You do neither.
You work hard to you put yourself in as many situations as possible to receive or create the opportunities.
The key is what do you do with this realization ?....
Do you keep taking shortcuts and easy ways to look for opportunities?
Or do you sit around relax and wait for opportunities to find you ?
You do neither.
You work hard to you put yourself in as many situations as possible to receive or create the opportunities.
Coolweb,
Your post has to do with making money then just making money in the stock market.
And to go along with this here is my opinion:
IMO People make money in this world by taking advantage of others and of situations. The strange thing is that this practice is pretty accepted throughout the world.
... Well the taking advantage of others is sometimes frowed on but if you can mask that with it to look like 'typical business practices' then its fine. And the taking advantage of opportunities is seen as first come first serve.
Can you think of a situation where the above isnt true?
I cant
- The 18 year old working for mcdonalds making 6$ an hour. the company is taking advantage of this person so they can make more money - the 18 year old needs a job so its a opportunity for mcdonalds. When the 18 year old is working he 'steals' a hamburger during lunch. He takes this opportunity to stick it to the 'man'.
- I just read yesterday about how someone in the U.K. took 10million£ from people saying he could get better exchange rates for currency exchange then what is listed. (Basically he took this opportunity and took this money from people - he didnt try to exchange any currency he spent the money). The sad thing is this must not be that frowned upon since he only got 4 1/2 years for it.
- Hospitals and doctors often take advantage of people with their healthcare; people have a strong need to want to be healthy when they are sick (vulnerable) - there is great opportunity here;so they can charge an exorbant fee for their services.
- Also yesterday I just read that the person in charge of Microsofts xbox devision sold 6million~(figure might be slightly off) worth of stock before news came out that microsoft would have to spend 1.12 billion on xbox repairs.
So what does all this tell you? ...
It tells me that it doesnt matter what you do to make money; if you invade another country, steal money from a little old grandma or take advantage of someone with cancer as long as you 'appear' to be doing the above in a politicaly correct way then the opportunity is yours for the taking.
... Quite Sad
Your post has to do with making money then just making money in the stock market.
And to go along with this here is my opinion:
IMO People make money in this world by taking advantage of others and of situations. The strange thing is that this practice is pretty accepted throughout the world.
... Well the taking advantage of others is sometimes frowed on but if you can mask that with it to look like 'typical business practices' then its fine. And the taking advantage of opportunities is seen as first come first serve.
Can you think of a situation where the above isnt true?
I cant
- The 18 year old working for mcdonalds making 6$ an hour. the company is taking advantage of this person so they can make more money - the 18 year old needs a job so its a opportunity for mcdonalds. When the 18 year old is working he 'steals' a hamburger during lunch. He takes this opportunity to stick it to the 'man'.
- I just read yesterday about how someone in the U.K. took 10million£ from people saying he could get better exchange rates for currency exchange then what is listed. (Basically he took this opportunity and took this money from people - he didnt try to exchange any currency he spent the money). The sad thing is this must not be that frowned upon since he only got 4 1/2 years for it.
- Hospitals and doctors often take advantage of people with their healthcare; people have a strong need to want to be healthy when they are sick (vulnerable) - there is great opportunity here;so they can charge an exorbant fee for their services.
- Also yesterday I just read that the person in charge of Microsofts xbox devision sold 6million~(figure might be slightly off) worth of stock before news came out that microsoft would have to spend 1.12 billion on xbox repairs.
So what does all this tell you? ...
It tells me that it doesnt matter what you do to make money; if you invade another country, steal money from a little old grandma or take advantage of someone with cancer as long as you 'appear' to be doing the above in a politicaly correct way then the opportunity is yours for the taking.
... Quite Sad
That could be the saddest commentary I've ever seen on any board. Some people look at the glass half full or half empty. You don't even see the glass.
People are paid what they are worth. They are not being taken advantage of in any way, shape, or form. It's supply and demand, plain and simple. If you want to get ahead in the world you have to prove your worth. I might pay you 200,000 per year if you could prove to me you were worth it because of the amount of business you could bring in.
The name of the game is to develop SKILLS that are worth something. Flipping burgers is not skill that deserves to be paid a high income, but if that burger flipper decides he wants more out of life than a 7.00 an hour job he may work from within McDoinalds and become a store manager or regional manager, or possibly own his own store. Life is about people's desires, and the amount of work they are willing to put in to achieve those goals or desires..
All of your example are about amateurs not professionals.
In 1991 we use to charge $3000 for a cell phone and $2.00 per minute and my partner and I got very rich but many cellular company's today still make 100's of millions.
Your post should read how do you win the lottery not how to make $ in real life.
In 1991 we use to charge $3000 for a cell phone and $2.00 per minute and my partner and I got very rich but many cellular company's today still make 100's of millions.
Your post should read how do you win the lottery not how to make $ in real life.
Quote from coolweb:
Do you think its skills ? luck ? or opportunity in trading?
People always tell people on elitetrader, to just work a little harder, you've only been working 3 years trying to figure out trading , Many people took 10 years. I see this all the time and I realize how wrong it is.
-----------
What really makes money in real life?
OPPORTUNITY.
What is OPPORTUNITY?
When money flows freely, During the gold rush in california, with a shovel , you can take the train to CA, and start digging and make a fortunre. Thats OPPORTUNITY.
Take a shovel, and head out to california right now, Try digging, Can you make a $1?
You can't! Regardless of how hard you work.
Because there is NO OPPORTUNITY.
-------------------
Take for example year 2000 , When the market was flying, everybody you knew turned $5k into $500k.
My own parents who were blue collar who couldn't even understand MACD turned $30k into $750k.
I ask them today, they can't etch out $2.50 from the market these days.
It has nothing to do with skills, it has everything to do with OPPORTUNITY.
-----------------------
Take for example, someone buying a seat on NYSE back in the days, once you have the OPPORTUNITY to scalp orders, you make money with 0 risk.
If you didn't have opportunity or an extreme edge , you can't make shit.
Look at the NYSE scalpers these days, are there any left? Maybe 2 out of 10.
--------------------
So what I present to you is, should you be looking to break the code or should you be looking for opportunity?
The people who lost all their money in the stock market in 2002, then went into real estate can tell you the same thing.
---------------
the best trades, don't they always go your way immediatly?
Did you have to fight for the money?
Did you have to sweat bullets?
Never. Once you sweating, you know its going to shitters.
------------
In business, What makes money quickly means there is a MARKET for it.
If you can sell the thing instantly, it means theres a market for it.
If you are selling sand to some guy in arizona, Can you sell it ?
Is there a market for it?
How hard will you work to sell 1 grain of sand? I'm sure if you actually found the method, you can make millions.
Maybe there isn't a market for your trading. Maybe the market is taken by blackboxes all around the world.
Maybe your liquidity isn't really needed.
------------
Would you rather be the searcher for OPPORTUNITY or the person who tries to etch out blood from stone in eternal struggle.
Just some thoughts for people to think about.
Maybe it'll give you another perspective in trading/business and struggle
In regards to the OP's initial post..... it's very easy to explain, a rancher once told me this:
"Making money is really a very easy thing to do. It's keeping the money that's the hard part."
As I have found to be true here at ET over the year I have joined, there are many smart people out there. That's the problem, too many people think they're smarter than the market and in the end, well that's their undoing.
Your post hits at a critical point, KISS principle. Every successful person I have ever met has told me that they really don't think of themselves as any smarter than the next guy. In fact when people get REALLY SUCCESSFUL they usually give the credit to the smart people they have working for them. The really successful people that I have come into contact with always say they like to hire people smarter than them. Why not? Get your money's worth.
They all also say that the one biggest thing that set them apart from the herd is that they seized an opportunity and ran with it. It seems that once you have done this with some success, it just gets easier and easier to do.
Risk/Reward. Just about any intelligent person (notice I didn't say educated) can give you that little element of the key to success, but only a few actually ever embrace it and finally get to balls to run with it.
Opportunity is a very weary traveler. He knocks on many doors and finds very few people willing to let him in.
Good Luck!
"Making money is really a very easy thing to do. It's keeping the money that's the hard part."
As I have found to be true here at ET over the year I have joined, there are many smart people out there. That's the problem, too many people think they're smarter than the market and in the end, well that's their undoing.
Your post hits at a critical point, KISS principle. Every successful person I have ever met has told me that they really don't think of themselves as any smarter than the next guy. In fact when people get REALLY SUCCESSFUL they usually give the credit to the smart people they have working for them. The really successful people that I have come into contact with always say they like to hire people smarter than them. Why not? Get your money's worth.
They all also say that the one biggest thing that set them apart from the herd is that they seized an opportunity and ran with it. It seems that once you have done this with some success, it just gets easier and easier to do.
Risk/Reward. Just about any intelligent person (notice I didn't say educated) can give you that little element of the key to success, but only a few actually ever embrace it and finally get to balls to run with it.
Opportunity is a very weary traveler. He knocks on many doors and finds very few people willing to let him in.
Good Luck!
Quote from coolweb:
Do you think its skills ? luck ? or opportunity in trading?
People always tell people on elitetrader, to just work a little harder, you've only been working 3 years trying to figure out trading , Many people took 10 years. I see this all the time and I realize how wrong it is.
-----------
What really makes money in real life?
OPPORTUNITY.
What is OPPORTUNITY?
When money flows freely, During the gold rush in california, with a shovel , you can take the train to CA, and start digging and make a fortunre. Thats OPPORTUNITY.
Take a shovel, and head out to california right now, Try digging, Can you make a $1?
You can't! Regardless of how hard you work.
Because there is NO OPPORTUNITY.
-------------------
Take for example year 2000 , When the market was flying, everybody you knew turned $5k into $500k.
My own parents who were blue collar who couldn't even understand MACD turned $30k into $750k.
I ask them today, they can't etch out $2.50 from the market these days.
It has nothing to do with skills, it has everything to do with OPPORTUNITY.
-----------------------
Take for example, someone buying a seat on NYSE back in the days, once you have the OPPORTUNITY to scalp orders, you make money with 0 risk.
If you didn't have opportunity or an extreme edge , you can't make shit.
Look at the NYSE scalpers these days, are there any left? Maybe 2 out of 10.
--------------------
So what I present to you is, should you be looking to break the code or should you be looking for opportunity?
The people who lost all their money in the stock market in 2002, then went into real estate can tell you the same thing.
---------------
the best trades, don't they always go your way immediatly?
Did you have to fight for the money?
Did you have to sweat bullets?
Never. Once you sweating, you know its going to shitters.
------------
In business, What makes money quickly means there is a MARKET for it.
If you can sell the thing instantly, it means theres a market for it.
If you are selling sand to some guy in arizona, Can you sell it ?
Is there a market for it?
How hard will you work to sell 1 grain of sand? I'm sure if you actually found the method, you can make millions.
Maybe there isn't a market for your trading. Maybe the market is taken by blackboxes all around the world.
Maybe your liquidity isn't really needed.
------------
Would you rather be the searcher for OPPORTUNITY or the person who tries to etch out blood from stone in eternal struggle.
Just some thoughts for people to think about.
Maybe it'll give you another perspective in trading/business and struggle
"success is where preparedness meets opportunity"....i think OPrah may have said this..Opportunity can hit you square in the head and you still wont make diddly squat unless you take the bull by the horns...alot more people had the chance to make money in the RE and Stock market and they just didn't...I love the post..you are square on the money...peace