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; Longshot Kindly Make One Constructive Comment Pertaining To The Original Topic...

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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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Old Oct 20, 2004, 9:26pm   #105
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You see when people make intelligent posts like nobrainer and longshot they deserve credit because it's obvious they know what this game is about.

But when people come onto any message board and make ridiculous claims then they should expect to be shot down in flames and derided. Of course there are exceptions to every rule but to state you or a friend makes 1000's percent in short periods of time (as if it's easy), well personally I prefer to live as nobrains says in the 'real world'.

PS. Marketgeeni, repeat 10 times before you go to bed and also first thing in the morning;

i before e except after c
i before e except after c
i before e except after c etc etc
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