Would you quit after you have made $1Mil?
- Thread starter xtrader99
- Start date
I make that in a day you piker...hehe just kidding 
Why stop at a million...then what would I do if I did not trade?
Michael B.
Why stop at a million...then what would I do if I did not trade?
Michael B.
Forget about CDs and Bonds. Go with the Vanguard Wellington fund. It made out just fine through the tech crash and has given an average yearly yield above that of the money market and bond funds. 5% isnt going to cut it when you factor in real perceived inflation. The Wellington has done over 12% this year and in bearish markets still does pretty well since its balanced with bonds and large cap value stocks. Vanguard also has a tax managed balanced fund which would be a little bit kinder to you when April rolls around but the Wellington seems to have fared the best through bad times.
As for "quiting" entirely, why? Why stop there? I enjoy this, its not work to me.
If you want a more relaxed lifestyle, there are ways to invest the cash into a diversified portfolio of obvious long term plays and go from there. Like over the summer, we could have put our cash into large quality companies that we know would have accrued in value until September.
So the million dollar value play is this. Every July look for beaten down equities and distribute the million accordingly. By Christmas, if you did it right, you should see a 20% return or more. $200,000. Thats a respectable amount of cash. Then take that cash and hide it away in the money market until next summer. Then choose again.
As for "quiting" entirely, why? Why stop there? I enjoy this, its not work to me.
If you want a more relaxed lifestyle, there are ways to invest the cash into a diversified portfolio of obvious long term plays and go from there. Like over the summer, we could have put our cash into large quality companies that we know would have accrued in value until September.
So the million dollar value play is this. Every July look for beaten down equities and distribute the million accordingly. By Christmas, if you did it right, you should see a 20% return or more. $200,000. Thats a respectable amount of cash. Then take that cash and hide it away in the money market until next summer. Then choose again.
I know quite a few traders who have made it to 1 mil.
Sometime for better and sometimes for worse, but not a single one of them stopped there.
Sometime for better and sometimes for worse, but not a single one of them stopped there.
I don't know about everyone else, but I don't consider a million to be a lot of money these days.
In Australia, a nice house in the inner suburbs will cost you a million. Nothing amazing just a four bedroom with a backyard and a garage.
So after you've bought a house, what are you going to live on?
Runningbear
In Australia, a nice house in the inner suburbs will cost you a million. Nothing amazing just a four bedroom with a backyard and a garage.
So after you've bought a house, what are you going to live on?
Runningbear
Up until I got to what you posted, I was thinking the same thing. That a million dollars is really not all that much today. Remember years ago people always said how it would be great to be a millionaire?...well that was when a huge mansion like house cost $200-300K....Where I live in New York, damn cottages cost over half a mil today. And property taxes alone are like having another damn mortgage payment with them being so high and increasing each and every year.
But to answer the OP question, if I had the ability to make a million in trading, I would most likely keep trading and set a goal to make 2 million faster than I made the 1 million.