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; ersatz99 That is very cute, I would not expect anything less from those that choose to believe that they are ...

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Old Oct 18, 2004, 10:49pm   #41
Joined Oct 2004
ersatz99

That is very cute, I would not expect anything less from those that choose to believe that they are king of the hill. There are a few traders that make real money out there and they normally have one thing in common - the WILLINGNESS TO LEARN WITH HUMILITY.

Trader 333,

He accepts that some of his trades will cost him money and that he cannot be right all the time. Once his stop has been hit he views it that his strategy was wrong or that his assessment was wrong (in the end, they add up to the same).

As you well know, many of us will see a market/share falling and try to pick the bottom, he avoids that at all costs. He will only buy in such a situation when the market clearly turns in the other direction as opposed to forcing the issue.

One of his favourite sayings to me is that he is trying to take money from other people and he realises that they are not stupid or naive and more importantly, he is of the firm belief that a lot of traders out there are better equipped than he is (ie. more information available to them; better educated and have a better working knowledge of the financial markets).
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Old Oct 18, 2004, 10:51pm   #42
 
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Talking Re: Is it really possible to make money in this trading lark?

At this rate, in another 6 months, he will own the whole earth and everything on it!
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Old Oct 18, 2004, 10:51pm   #43
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Gotgold,

I am sure you would, but you forget that it is his private business and he does not need to prove anything to anyone but HIMSELF.
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Old Oct 18, 2004, 10:53pm   #44
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You forgot the rest........and all that dwell therein.
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Old Oct 18, 2004, 10:54pm   #45
 
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Old Oct 18, 2004, 11:08pm   #46
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GotGold,

You are a factor of 10 out it was £500 to £2M


Paul
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Old Oct 19, 2004, 12:46am   #47
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What doesn't quite tally is how this financial whizzo with so much experience managed to have only 500quid to trade with.After all these years was he struck by lightening and finally found the 'enlightened road to riches'?
It doesn't quite add up but since he's bought this lovely house in 'CASH' and a few Buy to let's as well......... it must be true.
I think he'll be selling his secrets shortly too so we can join the party of turning £500 into 2mill.
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Old Oct 19, 2004, 12:52am   #48
 
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Just think, with this rate of return you could make
£50,000 from a FIVER,
£5000 from 50p
£500 from 5p.
£50 fom half a pence!
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Old Oct 19, 2004, 1:06am   #49
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The fact that he used £500 as trading capital does not mean that that was his life savings. Besides, I think we are missing the point, he is not a genius and does not claim to be. He is an average joe that decided that he could win and gave it his best, sometimes, that is all the edge you need.

GotGold, why not try marbles or pebbles? Does it shock you so much that someone can go in search of a dream and find it? Broaden your horizon and you will find that life is only as hard as we want it to be.
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Old Oct 19, 2004, 2:17am   #50
 
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Thumbs down Re: Is it really possible to make money in this trading lark?

People wonder why so many new traders lose? Because they are truly this gullible. Anyone who believes this story needs to get his head checked. As others have pointed out, this man will soon be a billionare many times over in no time. Forex liquidity would not be a barrier for a long time. It simply does not add up.

400,000% return in 6 months? Is anyone here really gullible enough to believe such fairy tales? Wake up people, I mean really.


Quote:
Originally Posted by LION63
The fact that he used £500 as trading capital does not mean that that was his life savings. Besides, I think we are missing the point, he is not a genius and does not claim to be. He is an average joe that decided that he could win and gave it his best, sometimes, that is all the edge you need.

GotGold, why not try marbles or pebbles? Does it shock you so much that someone can go in search of a dream and find it? Broaden your horizon and you will find that life is only as hard as we want it to be.
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