I honestly CAN recommend that anyone develops, or follows up an interest in trading..

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Black Swan

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Reasons to be cheerful, parts 1,2 and 3;

Reason one; how many businesses (and that's what it is) can you start from such a low capital base? I've lost count of the individuals I've known/met that have (bright eyed and bushy tailed) set up businesses that have taken 4-5 years of trading to just break even but mostly failed. And who wins, a few employees (temporarily) and the tax and vat man, your principal job during the failure has been unpaid tax collector for the revenue...mug...

Look at the past 7 years of ridiculous unsustainable hubris and we can all pin point businesses that are on respirator or will die. Can *we* ride out the next ten years and more importantly profit from it, coming out the other side winning? Too fookin right...

90% of new businesses fail, don't buy into the meeja 5hite re. self employment, it's incredibly hard to make a niche work, equally hard raising the risk capital; unless you're Nat Rothschild who has just raised 750ml to *buy up* mining assets...and that's another thing, wanna borrow 50K to set up another 5hitty cafe on your high st? Banks'll lend it to you if you hock the homestead. Want 500K line of credit to play markets? You may be surprised at how seriously the great and good of the city will give your plan an audience and the introductions 'they' may help you with, particularly if you reckon/can prove only 10% if it will be risked. Tell me another legal business were the upside is limitless? Assuming capitalism doesn't eat itself...;)

Reason two; you can really be in this game for less than 5K with no overheads, no obligations, no pressure, other than the self inflicted pressure to perform. Stop moaning re. the price of the spreads, the clunky platforms, the spikes, the whipsaws...FFS spreads on cable were 20 pips 10 years ago, and you didn't have broadband and free state of the art platforms and charting packages, and suites of forums to increase your knowledge exponentially. It is unfookin believable what we get for free and the oportunity this represents. And with that 5K you can make consistently a grand/two grand a month after a year or two of *learning*. That's not fireworks, but again I've known multi million T/O businesses never make a dime before having the plug pulled and as they go the collateral damage can be significant..

Reason three; the freedom, the creativity, the intelligence spike, the being there at the event horizon of business on a daily basis, the lack of risk (if managed), the contest, the intellectual curiousity...
 

charliechan

Experienced member
1,008 119
Reason 4: Personal responsibility and freedom. You can trade from anywhere in the world (yet I still live in London - why?.....). Assuming you are the only 'employee' of your trading business you can achieve massive rewards without the need to employ others who may screw up.

Trading is an (almost) infinitely scalable business. If you can trade a 1lot position, there is no reason why you shouldnt be able to trade a 100 lot given time.
 

spinola

Established member
614 137
Yeah rocking post BS ! I wrote a bit in the other thread on benefits to conventional biz.

I know 2 former accountants who opened a retail outlet a few years back and it's being wound up soon. They use to work in it on the odd day, specially when they realised this new biz won't exactly be paying 30-50 k in the first year each.

So they go off trying to juggle jobs to meet the overheads they've committed to, freehold, rates, power, staff, etc.. These clowns even paid £500 notes for a stall once, one day, middle of the field pissing with rain and they thought they could knock premium product in a farmers field !! ? They made JACK !

I take more interest in their biz, but do they listen ? do they F**** !


I tell them , guys retailing and xmas it's the busiest time of the year, why not get some xmas adds in the windows and offer presents, to passing trade, I mean you want to give some f***cker a reason to get out of his warn car and be bothered to look right ?

2 years at least I tried to get them enthusiastic about THEIR own kin' business , and at Xmas, when they were telling me THEIR shop was very quiet at that time of year !!!

FFS , f***king ell' even I was mad ! I'd be in the shop window dressed in my santa suit , tuggin at me whazza, saying, "Come get some, it's Christmas !"

Did they listen ? did they eck ! Their hearts aint in it, thing is I don't think it ever was, even from the get go.

Anyhow they are taking a loss, and closing down soon.

Dumb F***s, they deserve to be brutalised in retail , with those attitudes. I'm happy as I wont have to listen to their bleats about how trades not going , etc etc....

Yipppppeeeeeee !

Ohh guess what ? They want to start another business !! You know, doing something , punting out a bit of bankrupt stock, somewhere, somehow !

F*** me ! here we go again !



I appologise for any perceived offensive language, but these two accountants, who really should know better, P!SS me off with lack of being to see what needed to be done. I just don't get . They should be experts at detailing costs and communicating the results !!! ??

Jesus they've been stuck in a 4 year positional trade the wrong side and forced awareness has just struck home to them, and they haven't liquidated their position yet !

spinola, I'm mad as hell, and it's not even my biz !
 

0007

Senior member
2,307 607
My suspicion is that Black Swan & all those who recc'd post #1 are part of "The 5%". The power of positive thinking? :D
 
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Black Swan

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Reason 4: Personal responsibility and freedom. You can trade from anywhere in the world (yet I still live in London - why?.....). Assuming you are the only 'employee' of your trading business you can achieve massive rewards without the need to employ others who may screw up.

Trading is an (almost) infinitely scalable business. If you can trade a 1lot position, there is no reason why you shouldnt be able to trade a 100 lot given time.
That's it! Good point...

Reason 4

wtf can't we aspire to taking our swing trades off the deck of a (sailing) yacht? What other business can you actually genuinely visualise that happening if you follow your business (trading) plan? You can see those potential profits each and every day in the market/on your screen/charts...There it is, take it...:)
 
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Black Swan

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My suspicion is that Black Swan & all those who recc'd post #1 are part of "The 5%". The power of positive thinking? :D
I have a different angle on that much over-used pma (positive mental attitude) mantra, I used to say it to lads in sales; "be positive, be mental and have attitude..."
 

N Rothschild

Legendary member
5,296 603
"90% of new businesses fail, "

90% of new traders fail, it not more. so whats your point?

And people who think they can become rich from trading a 5k account are deluded.

As for no overheads, who you kidding?

i pay 2k a month for my platform and thats just the start. no pressure? yer ok..

as for all the "free" stuff out there. there is a reason its free, its total guff. think i pay 2k a month for the comedy value?
 
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0007

Senior member
2,307 607
I have a different angle on that much over-used pma (positive mental attitude) mantra, I used to say it to lads in sales; "be positive, be mental and have attitude..."
I think the common perception of "pma" puts cart before horse - no amount of pma will make you a successful trader if you have a crap system and no discipline. But, if you can start trading successfully then your pma will flourish [and then some expert management guru will tell you that "it's all in the mind" and pma can achieve your wildest ambition].

I suggest it's a bit like the military culture: take a bunch of dissillusioned, underconfident and hopelessly dis-organised blokes - give them decent training & start with some small successes, and before long you've got pma derived from discipline and doing the right thing right.

The amazing thing about trading is that you can be wrong so many times and still be successful. You'd never get away with it in a normal job. And having made a wrong decision you can back out before the chickens come home to roost. Beats real work any day of the week.
 

price777999

Established member
577 29
Mr N Rothschild , why is it impossible for a 5k trader to make it ? why you always ruining my dreams ?
 

BSD

Veteren member
3,819 984
Of course it is very possible.

Richard Dennis started with all of 400 bucks remember your history lessons people, and went on to turn that into hundreds of millions ?

Jesse Livermore started with nothing and became what in todays money would have been a Billionaire. (And yeah yeah I know he blew up a couple of times and later shot himself but he also suffered from clinical depression yada yada !)

Our very own TWI here who is at a hedge fund now and started out at a prop firm wrote this about the returns his colleagues were generating:

Many people think if you make 20-30% a year that you are doing brilliantly well. Many here will make 50-100% per month. It is not a methodology you could apply to large amounts of capital such as fund trading but for individuals accounts it cannot be bettered.

Or remember this incredible guy here who is still doing very well from trading his own account:

55000 % in ONE month !

Lot's of things are possible if you open your minds and align the forces of teh Universe behind you !

Of course only few are chosen while many feel called, but that's the same everywhere, and that's not to say it can't be done, the evidence is clearly there that it can be done.
 
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