Enter with $200 and actually have a shot? LOL. I know people who have started side hustles for less than $1,000 and quickly have businesses who pay them $1000-$1,500 monthly retainers...and if you know what you're doing (not everyone does), it's a lot more profitable and scalable than day trading. The Market Wizard stories of someone taking a $500 account to $500K are from decades ago and even then were one in a million.
Young guy wanting to start trading
- Thread starter muenster
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Enter with $200 and actually have a shot? LOL. I know people who have started side hustles for less than $1,000 and quickly have businesses who pay them $1000-$1,500 monthly retainers...and if you know what you're doing (not everyone does), it's a lot more profitable and scalable than day trading. The Market Wizard stories of someone taking a $500 account to $500K are from decades ago and even then were one in a million.
What? I don't believe they do. But watch the CME Group intro video ..absolutely cringeworthy. Trade futures from home all day and have a wealthy, easy life. Of all the people who have attempted that, a tiny, tiny fraction has been successful.
trading because you do not add value, will not make you 'rich'.
and unfortunately that appears to be impression, that most who enter trading, have.
it does not matter what you trade: cars tables chemicals or financial instruments......they are all the same...you do not deserve a lot of money for the work that is put in
but i have seen many who do well enough considering the effort they put in....
and unfortunately that appears to be impression, that most who enter trading, have.
it does not matter what you trade: cars tables chemicals or financial instruments......they are all the same...you do not deserve a lot of money for the work that is put in
but i have seen many who do well enough considering the effort they put in....
yes of course
that is true of any business or money making activity.
all businesses are the same
few succeed
you seem to have something against trading....but that is your prejudice....
Ross Cameron traded $583 into $1M in 500-something trading days, and not decades ago, either. Of course, he was no beginner. Look him up on youtube.
success comes to anyone in any field if they are persistent.
this is not easy or even impossible sometimes because to be persistent you need money and most run out of that and so have to give up.
it happened to me many times with my financial market trading and many other businesses
this is not easy or even impossible sometimes because to be persistent you need money and most run out of that and so have to give up.
it happened to me many times with my financial market trading and many other businesses
There is no edge buying or selling options. It is all priced in. Hedging doesn't work for us retails, we make money only if our opinion is different from the market's and we are right.
To trade where the market might be wrong, you may want to go where few people trades.
I'm basing this edge on CBOE data, which is one of the most established edges out there. Granted, it's a small edge, and most traders can't exploit it. But a few have, with very well-structured trades:
https://blog.optionsamurai.com/be-an-option-samurai/the-edge-in-selling-options/
This is different than a directional edge like "buy a stock index on short-term dips in a bull market...sell on short-term strength." Some of those strategies had a small edge, but have been publicized and traded so much that it's gone. Short-term corrections like Feb. 2018 (where stocks fell almost 2 straight weeks without a small rally) can erase months/years of small profits...similar to very simple options-selling strategies.
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No, it's not a prejudice, it's a clear distinction you're not getting. Go back and read the entire thread. Enough due diligence (researching your business idea and market), discipline and patience can give you a pretty good shot starting some businesses and almost any salaried career. You can have all those things with trading (and be very smart and well-capitalized) and your chances of long-term success are still very slim. I've done both and know the probabilities aren't the same.