How did you grow your account into a big one?

Discussion in 'Professional Trading' started by careless, May 14, 2013.

  1. luisHK

    luisHK

    I suspect in most fields even moderately succesful entrepreneurship could drive one to his 1st million pretty fast. If you're talking of employees, where I live (and afaik) only guys in finance make decent coin. Sales people on commission could make very good money in several fields as well, real estate springs to mind and doesn't require much formal education.
     
    #61     May 17, 2013
  2. luisHK

    luisHK

    I suspect you're wrong again, possibly chatting through dating websites rather than the street would work - not sure if you're unemployed or look like you just escaped from the ghetto, but I'd say odds are pretty good if you have a decent situation.
     
    #62     May 17, 2013
  3. garachen

    garachen

    Here's a partial list of the industries of people I know personally who have 7 figure income:


    Google exec
    employed software developer at HFT
    cement company owner
    roofing company owner
    con man
    real estate broker
    bank owner
    real estate property owner
    dermatologist
    author
    endodontist
    painter (fine art)
    venture capitalist
    logistics
    wooden pallet manufacturer
    paper cup manufacturer
    chemistry bench manufacturer
    sales consultant
    lawyer
    accounting partner
    trader
    hedge fund owner
    software entrepreneur
    wine distributor
    MBS trader
    geologist - specialty in finding gold deposits
    datacenter designer
    medical device manufacturer
    Green Day band members
    video wall specialist
    'lost' property recovery from survey errors

    The range of industries is pretty diverse.
    About 30% of them never went to college.

    If you don't know 5 people outside finance with 7 figure income (and don't live in North Dakota) I suggest you have not talked to enough 'girls'.

    How hard is it to meet a successful conman?
     
    #63     May 17, 2013
    nastazio151 likes this.
  4. indeed, many extanuating circumstances. entrepreneurship is quite risky if you dont have middle class parents, or dont have intelligence, all factors outside your control.
    also getting a girl is more complicated than numbers game. well it could work, but only if the extanuating circumstances are right.
     
    #64     May 17, 2013
  5. garachen

    garachen

    I agree there. If you are not intelligent there are a lot fewer options. And, as I mentioned before, most people overestimate their intelligence. Hard work and personality can be a substitute in some industries. But if you are both not intelligent AND lazy I'd suggest government employment or join a rock band entourage.
     
    #65     May 17, 2013
  6. garachen

    garachen

    Forgot one.

    If you are not intelligent, lazy AND disabled you can get a government job and not actually work and sue for it not being a 'disabled friendly' environment.

    I know a blind gov worker who was lazy as sin and made a few million going that route.
     
    #66     May 17, 2013
  7. i have met a few in my day. they are right up there with the best of your list in income and cunning. of course to earn in any endeavor your ethics gets tested and loses sometimes..but con men take it to a much "lower level".
     
    #67     May 17, 2013
  8. MrN

    MrN

    To get that kind of growth you usually need to reinvest profits in order to compound value. The hardest part here is not to get "gun shy" about continually re-investing (and risking) accumulated profits.

    I like your idea though. One of my sayings is that it is easier to get rich trading than it is to make your "living" from trading. I am not a big fan of "making a living" from trading unless one has a customer business or works for a firm.
     
    #68     May 17, 2013
  9. it's an interesting discussion and debate. Journeyman trader who gets in there everyday and grinds it out, or swing for the fences?

    what makes it more complicated is that every grinder who is still alive will always have a story about one big trade that saved their ass
     
    #69     May 17, 2013
  10. MrN

    MrN

    Oldtime,

    I like your basic idea but don't think it is or should be a matter of swinging for the fences vs. being disciplined. One can be journeyman-like in terms of discipline and routine even if seeking to compound value rather than "pay the rent". In fact, if you are to succeed do to something other than luck, it is critical.

     
    #70     May 17, 2013