LMAO really .. You cant even trade I read one of your post it reads. "I was never a consistently profitable trader. Lost money in 2000, 2001, 2002, 2005, 2007, 2008 and 2011". I knew it I could tell by your "broke" talk like I said in the just recent post LMAO. Yall make me laugh. I'm 4.5 years in and I became profitable by me 2.5 year mark consistently. You been loosing money for 7 years dummy. You should not and I mean should NOT be giving any advice to anybody on what to trade, what your doing or how. It only take 2-3 years to be profitable in trading. Yes for you trading peoples money would be a pain because people would be trying to kill you because you keep loosing it stupid. Go get your job back bro Trading isnt your thing LOL. You said it proud too, I quit in the year 2000 LMAO!!!!!
People definition of success is relative. So the first question: what is monetary success to you ( as we are into trading?) I'd assume if , for some really mysterious reasons, Bill Gates net worth came to say 500 millions$, I believe he'd feel like real, and I mean a real failure. Now, I can assume many people - even 2 condo owners- came to 500million$ in net worth would feel extremely successful. The second aspect is how quickly does one take to become successful? 'get rich quick'? 'get rich slow'? The third aspect is what does it take? what efforts does it take? The fourth aspect is what TYPE of efforts does it take? That is may be a key aspect often neglected. Here may the effort means BST has to get all his licences, move out from the US to see the world of high finances ( yep all the ultra wealthy are not all based in the USA), etc.
If your a successful trader you should be a multi Millionaire in 7 years You dont go from 2 condos to 500million doesnt work like that I don't assume so - no response Second aspect - look at someone your age and see how much money they make if its more then you then it can take that long - meaning it's about time. No one is smarter; it's about who spends there time better than then the other we all get 24 hours in a day. Who spends it the best it the question.
Buffet was always profitable trader, but it took him 30 years to reach his first million in todays' equivalent. From there, it went exponential - compounding. Nowdays, with all that is offered by modern ways of trading, I'd say a successful trader should become a multi-millionnaire in around 3 years. The emphasis here is on successful , as being a successful trader is not an easy feast. Obviously a 2 condos owner and a 500million$ networther have a completely different mindset. May be 2 condos owner has also a point: even if you do not feel like it - as desire to get rich quick, or to burn the steps - you might need to get your licences first.
No offence, just trying to help. I made enough and don't need to go back to 9-5 but thanks for the suggestion.
Buffett made his first million at 30 from 18 - 30. It didnt take him 30 years. He wasn't trying to make a million when he was 3 years old I said 7 years to give the benefit of the doubt - I was thinking 4-5, didnt want to seem over zealous Your networth or what you have doesn't dictate your mindset. Billionaires have the mind set of a billionaire before they actually achieve it. Success starts in the mind. Gold medal winners see themselves getting a goal medal before it happens. So the 2 condo owner could have the mindset of the 500mil$ networther but he doesn't. 2 condo man doesn't have a point of view. You as a person with a mindset of a 500Million$ networther can't expect a person with a 2 condo to "understand" why you think the way you think and the conversation is not about getting rich quick. I'm a trader that doesn't exist but then again it does. If you have read the book "tipping point" or listen to Jordan Belfort on that concept then you would understand to a degree; you can get rich quick I was already aware I have to get 1 license which is the series 65
sorry my mistake. Buffet started trading at age 11. So effectively that is 19 years, and not 30 years to reach his first million. > I'm a trader that doesn't exist but then again it does can you explain? I am a bit slow to understand and need things to be very explicit.
Thank you. Lots of folks at ET gave me excellent advice, ideas and I really appreciate the help. As to how successful I am as a trader, you folks don't really need to know and shouldn't care. If you think I am an incompetent trader, that is OK too. Best to you.