LOL At Those Who Try To Get Rich Trading

Somebody starting out with $10K capital and a brokerage account thinking its a fast track (10 years) to private planes, 6 figure vacations and mansions. The only people who make millions trading are the ones who:

Have millions already through inheritance or other ventures and make a decent return on the millions they have.

Trade other peoples/companies millions and make a decent return on it and take a commission or fee.

1/10,000,000 trader who takes thousands to millions such as dan zanger, michael marcus etc.

Most guys in their early 20s do no have access to hundreds of thousands/millions to start a proper retail trading account so they start with 5k, 10k, 25k etc and hope to make it big.

The odds are stacked heavily against them but with 25k you could start a real business with real potential to turn 1000s into millions or even billions as experienced by some real life people.

You can get funded millions with a mildly successful business but try get your 20% per year trading operation funded and see what happens.

Your business can generate passive revenue.

You can sell a business for multiples of revenue.

There are far more millionaires created from businesses than there are from investors/traders but then again its much more difficult for someone to create an organisation and sell a product/service than to click a few buttons and make/lose money.

 

You mean I'm not going to get my heli from my 150 dollar forex account?

 

Think people are not actually attempting to make millions, rather build a little capital

 

Fundlord, you're one of "those" people. How many posts have you made about failed strategies and failed attempts at trading? Alot.

If a trader can't generate a 50% return on a two thousand dollar account, they won't be able to do it with a 50 thousand dollar account or a 500 thousand dollar account.

Getting funded with OPM probably isn't that difficult if a trader can demonstrate a consistent, multi-year record that beats the market. But that's just a guess.

 

It's not about starting capital.

Trading and starting your own business is the same exact thing. If you have the right business idea, you can turn thousands into millions. If you have the right edge/trade strategy, you can turn thousands into millions.

Some people have it, and some people don't. And luck has a lot to do with it. In business, you can fail with the right idea/product because of other factors beyond your control. In trading, you can fail with the right trade/strategy because of other factors beyond your control (black swan).

 

At least one of the great deliberate misleaders, JH is no longer posting and took his sidekick with him (last time I looked).Be thankful on behalf of new 'traders' at least

 

I run a small business, 20 years in, pays my way, get me a millionaire no chance, looking at profit 30k usd per year. A business is also not easy and 99% of them fail just like trading.

And if you think making educated guesses on market direction, can ever be a business your also wrong, that is all your doing trading wise, thats all it will ever be.

That being said made $300 in approx 90mins, am i happy, yes, do i need millions not really, could i make more with more time and focus, defo, does making more mean i can make even more, defo to.

So don't rule out trading as a primary or just additional income source.

 

Over the last years I see a repeating pattern in the threads on ET.
Threads that are dead are replaced by new ones with exactly the same kind of postings, so bringing old wine in new bags. Value is zero and we make eternal rounds around subjects without any use (like trend following, making millions from nothing, snake vendors…, price action, MS making killings...), repeating the same things over and over again.
I see more and more posters that help reanimate threads, maybe paid by people who have financial advantages from it.… If the trendfollowing thread is dead again for the 2 millionth times, Marketsurfer makes an offensive statement and the circus starts over again.
I was more or less addicted to ET. But the fact that I almost never post anymore, almost read nothing, and surely do not contribute anymore, proves that things got real worse on ET. I kicked off from my addiction, which was not easy but became easy. Why it became so easy? For the reasons I explained before.
To survive a website should be interesting and innovative. Two things that I miss for a long time already. Also, a few posters terrorize other posters, inthis way contributing to the actual situation.
About this specific thread: what’s the use? Or you get rich or you don’t. That’s all. And even if somebody does or doesn't’t, what’s in for you? Will it change your profitability? Will it make you rich or poor? Those who became rich will never tell you how, and those who are poor will complain all the time and will dream that somebody will hand them over the holy grail. But at the same time they are convinced that you cannot make money in trading. So why are they still here discussing this? They already know the holy truth.

 

It is a lack of knowledge. Really, in finance, if you are ignorant, it is much better to be an ignorant skeptic than someone who is ignorant and gullible. The ignorant and gullible are out there in another education/ chat room/service getting sheered while those who have already been burned or too cheap to pay for anything are left on ET to whine and complain.

It is much harder to make money now than it was 10-15 years ago and it shows in the postings. Now you have more smart money HFT and less retail dumb money in the market. Its naturally harder. Only those that have stepped up their game are surviving in this environment.

 

You're absolutely right - it's very unlikely that someone starting with a 25K account and no experience will end up with a multi-million account. Whether they would be better off starting another business instead is debatable. There are no short cuts to wealth; just hard work and/or luck. There are more business millionaires, but then there are more people starting businesses, and plenty of people who fail at that. I think the one year failure rate in say the restaurant business and trading is pretty similar - both probably attract people who think it's much easier than it really is ("I've eaten in a restaurant. I cook at home. How hard can it be?").

However I don't much like the tone of your post (you do know what "LOL" means I assume). I feel pity about those who are misguided and believe the mass array of salespeople on the internet telling them they can make $$$ or £££. But I certainly don't LOL at them. Instead I do my best to educate them and tell them what is possible.

If I was to post saying "LOL, nobody can expect to be as successful as me - I started with a large account and tons of experience - don't even think about it peasants", I'd personally find it pretty offensive. Having read a few of your posts its not clear to me that you are in a position to brag. Which makes your post not offensive, but just a bit weird....

GAT