How To Make Big Money

[charliechan]

well i actually made just £13k in the end as i couldn't hold my nerve long enough and closed out too early, shame and i have learnt from it. .

so much for your balls of steel that you quote about above eh james-1,234

 

[james1234]

yes true, and a valuable learning experience but reality is most would have closed sooner than i did as no one knows exact top or bottom. But still outperformed most and was proven correct trade based on pure common sense trading. Now watch gbp/aud kick ass while you over complicate, put in time and effort and still make jack.

 

[-oo0(GoldTrader)]

postion trade

Good Job James!

closed out too early, ... I should have compounded

Nothing wrong about taking Profits.

i went long gbp/aud for a postion trade ... have a wide stop ... 3 months. I may even compound the profits.

Do you think you could post a chart?

The pattern is that when a commodity consolidates within a fairly clear trading rage for 9 months or more, if it breaks out of that consolidation it is highly likely that it is a legitimate move.

That is called a box-break out, elementry. Do you care to show us a chart?

Stop is already @ BE as I see no need whatsoever to have this costing me a dime...either it works as a stand alone trade or it doesn't.

Let your profits run.

 

[Vladd297]

Commodity charts

Yes sorry, I forgot to post some pictures of what I was talking about. Here are two commodities that formed the ~9 month consolidation breakout with a legitimate move.


Cocoa: broke out in the middle of 4th quarter 2001
http://www.peacefultrading.com/wp-content/uploads/2009/09/Cocoa.gif

Canola: broke out beginning of 2nd quarter 2002
http://www.peacefultrading.com/wp-content/uploads/2009/09/Canola.gif


I find that commodities have a higher tendancy to have legitimate moves if you look at the larger time frame (couple of years). I always keep a close eye on commodities that thin out and tend to consolidate for a while for that same reason

-Vlad

 

[profit13]

The big money is made in actual commodities. Because it is the safe money. If most in the gold community had focused on gold, silver, food and energy in a buy pyramid to zero, you would have had more money now, to buy the juniors stocks at the time they should be bought, that time being now.

 

[forexius]

I should expect that we all got into this business because we want to make BIG money, i got into it because the possibility to make a lot of money in a hurry, well 3 years later and I haven't recouped the total cost of my investment, both financially and through the time i have devoted.

well I got into this because I want to make big money like livermore, martyn schwartz etc. these guys accumulated vast sums of money, and althought they followed very sound principles to risk and money management I can't help but wonder that, relatively speaking they must have been hitting it heavy.

regards to all for your thoughts

Well, you know what everyone says who has made trillions on the stock market: whatever you do, don't be a daytrader.
Daytraders don't make wealth. Its not traders but investors who make real wealth. Investors don't hop around on the market in quick moves like video game players. Some of them merely make a handful of moves a year to scoop in the real big winners - waiting for the right moment, rather than trying to force a moment out of nothing-coming.

I think the problem most traders have is that they don't have a consistent plan they follow. They have nothing to visualize to get there. They just sort of wait for unrealistic and huge profits in one scoop and while waiting for that, take too many risks and lose more than they gain.

And last but not least: DON'T seek to work for boring and uninspiring companies like FUTEX (=) - even if they call themselves Trading Company. Don't get blinded by the mere title if you sense they will likely just bring you down and sidetrack your inspiration and drive. Your days should be more interesting and motivating than just watching paint dry...

 

[forexdiscussion]

Hi,

I choose forex because I want to make CONSISTENT money instead of BIG money. You can win big money like double your money in short time period but you also can loss in short time period. In forex RISK is the king, so tread RISK first and foremost!!!

 

[AlexLutiera]

Hi there!

I think making big money could be quite hard, but, if you have the guts and skills on making investments, and doing business. That might help on slowly raising your profits, and help you make money!!
Some business minded person, may think of starting doing an investment or make a franchise of a shop. People would make a business, and see their capital. An investor, or a businessman's objective on making business, is earning profits. Risk is also a part of business. Risk could be one of the things they may encounter, especially when they get losses.

Nowadays, making big money is not impossible, but still hard. In order to earn money, you should work hard for it! Have patience, and should be able to make a good decision which could help on the progress of the business.

 

[safvan]

Day trading is hard. Its better to swing or position trade. I have always made money in trades that have lasted more than one day.

We do need day traders. Without them there would be a liquidity shortage in the market and it would be hard to get in and out of an instrument.

 

[TakeYourProfits]

Have you read Confessions of a Window Cleaner... er... I mean Reminiscences of a Stock Operator. Yes, he was "hitting it heavy". He also went completely bankrupt twice in his life because he hit it heavy.

For every Jesse Livermore success, I bet there are 19 Jesse Livermore failures (that's 95% failure, right?) who went bankrupt and never came back to the market (and probably lost their wife and got a job in McDonalds at the same time). That is why we have to practice good money management.

dont forget he also put a bullet through his head at the end of the day...

 

[Oniy8]

Its the question of your highest applications of your market strategy techniques! Simply you can buy when the short term moving average crosses above the long term moving average depending closer observation of current market movements.

 

[fitzgeral]

through big capital we make big money when capital increase then the profit is also increase so the money is automatically increase.

 

[neil]

through big capital we make big money when capital increase then the profit is also increase so the money is automatically increase.

Google translate has a lot to answer for

 

[Coleen]

Hello, everyone. I see there is a concern to make big money, but there is also a concern not to lose much. So the result is whether you get or don't get some profit while trading. Then how much does it depend on analysis or forecasts in making big money or lose them?

 

[neil]

Hello, everyone. I see there is a concern to make big money, but there is also a concern not to lose much. So the result is whether you get or don't get some profit while trading. Then how much does it depend on analysis or forecasts in making big money or lose them?

Neither

 

[D70]

What kind of questions are these!!

Time for some paedo porn to get a ban.

 

[rsh01]

C/o Glitter, saville, king?

What does UK Pop TV in the 70s and 80s remind you of? Paedos, obviously.

 

[jimbo22]

I bet Gary Glitter is kicking himself, he didn't let jim'll fix his PC.....

 

[rsh01]

I bet Gary Glitter is kicking himself, he didn't let jim'll fix his PC.....

....Add pete townsend to the list. But remember pete was only downloading images as part of reaearch against paedos.