what opportunities were there to make 1000 to 5000% and how do you identify them in real time? did you make such trades?
Thanks everyone, all the responses are really constructive! I don't have any strong disagreements. Basically, the idea is to put a ceiling on your income level so you are not able to spend more. It's kind of like forced savings account, except it's a forced highly speculative account. So it forces you to live within your means while having that "lottery ticket" payout possibility open, but the odds should be much better. The reason I put this under psychology section is because I was thinking - If I have had accumulated 500k by the end of the year, will I really take an all or nothing 2:1 bet with that sum of money? I will probably chicken out, withdraw the money, pay the taxes, buy some sh*t, and go back to the race That's what most people end up doing no matter what excuse they use to justify it.
I listened to the first 2 minutes. Some of the wisest words I have ever heard. that PP Bucket guy might be richer than all of us combined.
Indeed. It's classics. Ageless perspective. Like in The Richest Man of Babylon (1923). @cruisecontrol you can start here : https://www.elitetrader.com/et/threads/kirk-2020-lows-1-for-a.357839/
Laughs. Why ? I wish more folk have heard of this. Meanwhile most young men, wondering through life, aimlessly. No goals. No vision. The ,,gas station on the corner" reminded me of newwurld's choice to buy that small bis. Whatever looks meaningful to you.
Actually you need to constantly live at a very high level of consciousness to be a good trader. Well above, anger fear desire/greed etc Using the chart below, most people live below level 200, but you need to maintain at least level 350 to be a good trader. And as a trader you have the time to work on yourself and go even higher up the scale.
Oh, I am not laughing at what he is saying, all good. It's just the way he speaks reminded me of this guy.