Is it really possible to make money in this trading lark?

This is a discussion on Is it really possible to make money in this trading lark? within the First Steps forums, part of the Reception category; Originally Posted by anley your example is idiotic because with hindsight it's possible to make around 100 million % over ...

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Old Oct 20, 2004, 2:28pm   #97
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Quote:
Originally Posted by anley
your example is idiotic because with hindsight it's possible to make around 100 million % over about a decade.
The example I gave was designed to show how it is possible to make seemingly huge percentage gains in a short time. It would not be possible over an extended period.

The facts used in the example derive from personal experience. I adjusted the figures to more closely represent the amounts offered in this thread as my own experience involved an initial purchase of £50000 on margin.

If you look carefully at the example, you will notice that from the time of the purchase the share price actually only rose 120%. I have had several shares do that and more within a 5 week period.

You may have inadvertantly misunderstood my stance on this matter.

Rgds.
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Old Oct 20, 2004, 5:27pm   #98
 
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how much more absurd can it get?

Another take on the facts
-----------------------------------

1) His "friend" has been trading since the 80's (a real pro)
2) He had his own office, had a clerk and secretary, made a lot of money in the markets
3) He then loses it all in real estate during the biggest real estate bull market of all time when any moron buying real estate made money
4) Now he only has 500 in starting capital??? pi*s poor broke, doesnt know when to cut losses apparently.
5) He then gambles a 400,000% percent return in just 6 months in the most rigged scam around: spread betting. Not only that, he manages to do this without the spread betting houses shutting him down like casino's do to card counters.
6) Lion said: "For those that think my friend will possibly go broke, do not hold your breathe..." But we already know he lost it all in realestate during the huge real estate bull market??
7) The icing on the cake... he makes 400,000% percent, and what does this genius gambler do? Thats right, he buys more realestate because he hasnt learned his lesson. LOL!

Anything sound fishy here? Naaaah... its all true, trust me. This story is water tight, cant you tell? You guys just dont have any imagination and are doomed to fail.

By the way, I dont care if you dont believe me, after all, my other "friend" with a whole 5 posts showed up to collaborate my mr millionaire story.

These internet boards where people pretend to be real traders just crack me up
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Old Oct 20, 2004, 5:49pm   #99
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Longshot Kindly Make One Constructive Comment Pertaining To The Original Topic
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Old Oct 20, 2004, 6:11pm   #100
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Great post Longshot.

Makes perfect sense to me.
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Old Oct 20, 2004, 7:00pm   #101
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Marketgeeni, its hard to take you seriously since you presumably never went to school.Once you learn in which order an 'i' and an 'e' are placed in a word, I may change my mind.
Vorpal, since your tale did not start with 500quid, its irrelevent.No one disputes that its possible to make loads of money, just that to do it in 6 months with £500 is somewhat hard to fathom.
Anley's point on the 500quid as starting capital is the one that puzzles me.Spot on Anley!!
As for those who have intimated that us disbelievers are probably not good traders, I can only laugh.I'd put myself in the top 2% of uk private CFD traders and that's not in ROCE but in pounds and pence having spoken at length with both gni , etrade and Ig Index on the subject.
Apologies if I choose not to be taken in by this wonderful tale but I'd rather live in the ''real world.''

Last edited by nobrainer; Oct 20, 2004 at 10:15pm.
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Old Oct 20, 2004, 7:16pm   #102
 
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the original topic

Yes its possible to make consistent money in the markets. But don't be fooled, it is incredibly tough. Think about the competition. The markets are very efficient, but not entirely. There are full time traders out there with millions of dollars of research capital available to them. They have teams of PHD math wizards and teams of programmers available to them to look for market edges. Here you are, a lone trader, with limited resources, limited time, and far less capital trying to find the edges before they do. Get the picture? This game is very tough, and probably tougher than anything you have ever tried before. If you are dedicated enough, work extremely hard, are fairly bright, have some skills that can help, like math/programming/creativity, etc, then you have a shot at it. But if it takes you several years of study and system development to find your first system that works, dont be surprised. For most people, there are far easier ways of making money than trading. Thats the cold hard reality. The road ahead for a brand new trader is a ver long one. If you dont have a passion for this, and are only in it for the money, you will probably fail. Lastly, there are exceptions to every rule
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Old Oct 20, 2004, 7:21pm   #103
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marketgeeni,

My question was genuine, if you are able to make that kind of money in that timescale what reason is there to try and make even more money ? Maybe it is greed ?

As for attempting to slate me, well that is up to you but I have helped many many people on these boards in almost every area of trading and hopefully you will consider doing the same ?


Paul
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Old Oct 20, 2004, 7:38pm   #104
 
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[QUOTE=There are full time traders out there with millions of dollars of research capital available to them. They have teams of PHD math wizards and teams of programmers available to them to look for market edges.[/QUOTE]

Good point Longshot666 and because I am new to trading, I am going to try to follow what those guys do

AB
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