Can the average blue-collar person w/ high school education get rich thru Trading?

Discussion in 'Professional Trading' started by Longcat1982, Sep 20, 2011.

  1. By the time you develop a 'gut feel' for the market you'll have blown out your account several times over.

    I'd say the odds against you are staggering. After you've studied technical analysis for a year or two and tested it against the market on paper the odds against you might drop to merely huge.

    I've seen so many really, really gutsy and educated traders go broke - including many right here on ET.

    In any case you're coming into the market at a bad time - much too volatile for a newbie.

    The race track is much easier.

    Don't.
     
    #21     Sep 21, 2011
  2. Possible "yes"; Likely "no".

    Everyone I know that's successful in trading works extremely hard, questions everything every day, are comfortable with risk at some level, have a sound(!) statistical edge, and have the ability to get back up when sh** happens (which it does).

    A related characteristic to questioning everything is to evolve your methodology continuously. I know of very few edges that have remained robust for long periods of time.

    Everyone I know that's made serious money trading have those characteristics.

    If you can sign up for those commitments, go for it.
     
    #22     Sep 21, 2011
  3. volente_00

    volente_00

    I thought this was a gambler's atari game


    :)
     
    #23     Sep 22, 2011
  4. volente_00

    volente_00



    "The one defining characteristic of successful traders is their refusal to quit in the face of adversity"
     
    #24     Sep 22, 2011
  5. Can? Yes.

    Expected? No.

    Most people who "never give up" do not outperform the average lifetime outcome.
     
    #25     Sep 22, 2011
  6. I agree...

    But its who you know also...I have made several friends here who have helped me out...

    ES

     
    #26     Sep 22, 2011
  7. and what have that to do with my quote ???

    Absolutely nothing.....
     
    #27     Sep 22, 2011
  8. No, but through Trading Forex.

    Once you are rich, than you can trade stocks.
    :D :D :D :D
     
    #28     Sep 22, 2011
  9. Visaria

    Visaria

    I note very few people actually become rich doing anything. Apparently the percentage of households in the US who have a $1m net worth (excluding primary residence) is about 3%.
     
    #29     Sep 22, 2011
  10. newwurldmn

    newwurldmn

    Yes. That's what's great about this country. If someone is willing to take risk they can achieve great things. It's not entitled to them, and it generally takes hard work, ingenuity, and lots of luck, but success can come from anywhere.

    In many other countries your life's opportunity set is determined based on which highschool or college you get placed in. It's much less so here.
     
    #30     Sep 22, 2011