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; I have read through most of the posts on this thread and frankly it has been most amusing, thanks everyone. ...

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Old Oct 20, 2004, 10:07am   #76
Joined Apr 2004
I have read through most of the posts on this thread and frankly it has been most amusing, thanks everyone.

Now to more serious business,

I am a freind to lion63 and also a freind to who i will describe as mr million, i can confirm that what lion 63 has said is not exactly accurate, to be more accurate mr million turned £500 into 2.36m in six months not 2m and susequently has averaged £600 000 a month since then .

It is said that one can only reach as far as they can see, mr NOBRAIN ER, mr LONGSHOT ,mr BOY
and mr GOT GOLD , if you cannot even beleive that a thing like this can and has happened then u can
never really ever attain such success.

I suggest that the fabulous four start asking the right questions and stop trying to impose their mediocrity
on others. The fabulous four reminds me of three years ago where the winner was the man who lost the least , guys i suggest you wake up and believe things are happening in the markets and contrary to what the fabulous four are saying, people are making huge amounts of money. Try not to listen to people like the fab 4 who only believe that one must start with vast sums of money before you can be called a trader , if that is the case let them keep the title trader ,one must start with what they have ,work hard and it will surely grow.

FAB 4 , open your closed minds ,beleive and aspire for more and that is the only time you will acheive your potential.


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Old Oct 20, 2004, 10:44am   #77
 
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Quote:
Originally Posted by marketgeeni
I have read through most of the posts on this thread and frankly it has been most amusing, thanks everyone.

Now to more serious business,

I am a freind to lion63 and also a freind to who i will describe as mr million, i can confirm that what lion 63 has said is not exactly accurate, to be more accurate mr million turned £500 into 2.36m in six months not 2m and susequently has averaged £600 000 a month since then .

It is said that one can only reach as far as they can see, mr NOBRAIN ER, mr LONGSHOT ,mr BOY
and mr GOT GOLD , if you cannot even beleive that a thing like this can and has happened then u can
never really ever attain such success.

I suggest that the fabulous four start asking the right questions and stop trying to impose their mediocrity
on others. The fabulous four reminds me of three years ago where the winner was the man who lost the least , guys i suggest you wake up and believe things are happening in the markets and contrary to what the fabulous four are saying, people are making huge amounts of money. Try not to listen to people like the fab 4 who only believe that one must start with vast sums of money before you can be called a trader , if that is the case let them keep the title trader ,one must start with what they have ,work hard and it will surely grow.

FAB 4 , open your closed minds ,beleive and aspire for more and that is the only time you will acheive your potential.


marketgeeni
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Old Oct 20, 2004, 10:46am   #78
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juanbyte Good day

Could you be so kind as to share some of your strategies with me .
I look forward to hearing from you

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Old Oct 20, 2004, 11:04am   #79
Joined Dec 2003
If this guy (who made the millions) was such a hotshot to start with, why did he start with such a pikey amount of money (£500)?

This thread is so funny, and you always know when you've got some chav on the ropes because they start talking about how much money they've got or how many cars/properties etc they have.
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Old Oct 20, 2004, 11:10am   #80
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anley

He did not start out even remotely thinking he would make those kind of numbers
he just wanted to trade and make money .

Its time we got past this now and sought out how we can help each other.
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Old Oct 20, 2004, 11:20am   #81
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Why is this Mr Billion character sharing all his personal financial details with his friends right down to the last £1.

Does he call you round for a drink and then just drone on and on about how much he's made, how rich he is and no doubt how poor and useless you all are. Does he then get his bank/trading statements out and give you all a copy to take back home with you? Talk about insecurity.

I don't know anybody who shares these kinds of very personal details with anyone. Also you should all realise that when most people talk about money they've lying. The clever ones (who make it) will always lowball you and the stupid ones (who don't make it) will normally always tell you how much they've got etc.

Bottom line, never believe anyone for financial looks can be very deceiving.
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Old Oct 20, 2004, 11:27am   #82
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That is obviously what you would do as you seem to be so narrow minded and petty. Get a life and think of something more constructive. Call yourself a trader? You cannot see the big picture and that is why you are filled with envy. Would you like to see his statements in order to pin it on your wall?

I wonder if you have ever had a successful month.
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Old Oct 20, 2004, 11:29am   #83
Joined Dec 2003
Was there some form of specific aim where this discussion was going ?
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Old Oct 20, 2004, 11:34am   #84
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Chump

There was, until as usual a few selfish individuals decided to go off on a tangent and get shirty about it. Why they feel there is a need to hijack threads or make silly contributions is beyond me, but they are exercising their rights.
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Old Oct 20, 2004, 11:49am   #85
 
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Is it really possible to make money in this trading lark?

Maybe it would be useful if the name-calling came to a halt and this thread got back to it's initial purpose.

Perhaps this would help to move things forward. In my experience, name-calling only serves to make those who do so feel better about themselves.

Examples of successful traders could be used to highlight the possibilities/opportunities that are out there. Of course these are open to interpretation, as has been shown. There is nothing wrong with a healthy dose of cynicism, but to know there are guys out there who are doing very well from their trading starting with what may be considered a small investment may show a beginner that it can be done.

All the best with your trading.
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Old Oct 20, 2004, 11:54am   #86
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Thanks Sarah M

Intelligent Imputs Are Always Apppreciated
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Old Oct 20, 2004, 11:59am   #87
Joined Oct 2004
Maybe, just maybe. The original post by Kazza raised a number of issues of varying importance ie.

Risk/reward
Capital requirements
Types of trades
Stops & limits

It is the way one views and applies these and other factors (not listed), that determines the amount of money one makes. It is important to bear in mind that our comfort levels (in respect of risk tolerance) are different so whilst one trader may be happy to risk 10% of his/her capital, another might feel that it is not prudent. Secondly, many traders do not believe in compounding based on the sound principle that if a few trades go wrong one is back to square one and in some cases nursing losses.
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Old Oct 20, 2004, 12:08pm   #88
Joined Dec 2003
Hahaha

Yes, let's get back to what this thread was really about which is 'Is it possible to make money etc'

Not, 'it is possible to turn £1 into £1million (or make 1000's%) in a few months and anyone who dares to question this ridiculous statement is a loser who has no faith and imagination - Trading afterall is not hard all you've got to do is buy things that go up'.
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Old Oct 20, 2004, 12:25pm   #89
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do I hear a new career calling me ?...how to stop a thread with one sentence.... LOL

Is it possible to make money etc..? Yes

can I make money etc? ........possibly

will I make money etc ..? .....maybe

can I be guaranteed to make money ..? .....no
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Old Oct 20, 2004, 12:29pm   #90
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The claims made previously are not as outrageous as they first appear. Having read the thread I would like to offer an explanation as to how it can be achieved.

A distinction needs to be made between a) someone starting with no positions open and b) someone already in a leveraged positionÖwhich is going wrong.

The trader in the latter example could be in the following position:

The trader decides XYZ shares, currently trading at £1 are going to fly when their results are released in 2 weeks.

He purchases £500,000 worth of shares in XYZ, margined at 10%. This requires a deposit of £50,000. This margin can be secured using CFDís or spread betting in the UK. (I havenít actually spread bet so the example relates to CFDís)

On results day XYZ announces two major news items, firstly, a six month delay in production due to supply problems and secondly, the securing of a major new contract worth £XXXX.

At the opening XYZ drops 9.9% as the public panics and sells in response to the warning of a delay. At this point the trader receives a margin call as his account now shows a credit of only £500.

At the same time the smart money is sitting and watching, waiting for this panic selling to abate, realising that the second announcement has far greater significance to XYZ in the long run.

Once the selling has exhausted the smart money enters, resulting in a percentage gain at the close of 20%. Our trader now has his initial deposit of £50,000 + £100,000, from the 20% gain. Total £150,000.

Over the next 3 weeks others digest the significance of the good news released with the results and push the share price up by another 100%. Our traderís position is now worth £1.2m.

At this point our trader decides to close the position realising a profit of £1.15m before interest and commissions.

This entire process has taken 5 weeks to unfold. During this time the traderís low point was reached on results day where his account, shortly after the open, showed a credit of only £500, 3 weeks later it showed £1.15m an increase of some 230,000%.

My inference from Lion63 posts is that his friend has been trading since the 1980ís so I donít believe he turned £500 into £2m from a standing start but instead accomplished this feat by some variation of the above.

Longshot666 seems to be approaching this from the position of; £500 cash in an account, with no positions on to £2m+ in 6 months, which I agree appears incredible.

In conclusion, maybe itís a question of semantics.

PS: SarahMís contribution would be even more plausible if it was a variation of the above and because of the leverage involved in options.


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