I totally agreed! For most people(that's 99.99%) should not try to learn trading. Get a job/career that they love and put money into 401K and low cost index fund. In 20-30 years, retire with a few millions. Having read Market Wizards I and II and been at it(trading) on/off for a very long time, I'm not sure if the invested time and money was worth it. I'm just beginning now to be consistently profitable. I had huge gains and huge losses. Ups and downs. Tripling of accounts followed by blow ups. Only now I have gained some consistency and making decent money. And even then I wonder if it's all worth it. Only because I have deep passion for markets and figuring things out that I'm willing to put up with that. During the entire time, I had/have a full on career that paid decent and continue to upgrade my skills. Only in the very beginning did I tried to do full time trading without much success because I was a bright eye bushy tale noob. One of the most interesting and inspiring interview I've come across is with Dan Zanger. The guy that turned $11K into $18M in 18 months. Yes, it was during the super bubble era of the late 90s and he rode the tech and dotcom bubble with max leverage. It wasn't all luck though. He had been trading since 1976. Read the article below: http://chartpattern.com/articles/stocks-comm-2003.pdf He started trading in 1976(way before most of the people including myself here on ET were around) and gave all of his profits up to that point back in 1991! So 15 years of profits gone. Then he finally learned his craft and when the internet bubble came in 1998/1999 he turned $11K to $18M in 18 months. Yes, those were crazy times. But as they say luck is opportunity meeting preparation. Yes, he was lucky to have caught the biggest stock market bubble in history, but it was only after 22 years of hard work(1976-1998). The point I'm trying to make is not the money made. But once you got your technique down and fully integrated your thinking then money in the market will come fast and furious. But the question is are you willing to pay the price? For Dan Zanger, it was 22 years of gains, losses, and endless heartaches. For most people, the answer should be NO! Life is short. Do what you are good at and destined to do. That's a very very long tail bet at payoff.
I hear you but I don't like working for other people, so I'm willing to take the risk. I hate 401k's and I personally don't think the market will go up forever. Trading is not that hard if you have the right strategy. After that you just have to follow your rules. Yes it might take a long time to be successful but that's the same with any industry.. I really don't care if another person blew 15 years of profits. That only tells me that person has some inner issues. Anyway, I hope you find success with your trading..
Yep. That was my point. As long as you are willing to pay the price and constantly learning and improve, then you'll get there. What is the end goal of your trading? To make millions per year? Dream BIG and achieve BIG. If the goal is to make only $100K/yr trading then there are much easier and less stressful way of making that money. Good luck!
I knew you were Chinese given the 888 in your username. Interesting to find a Chinese guy that hates China so much. Did the red pill have you buying kneepads to worship your white managers? @dozu888
use a little higher resolution thinking and everything will make sense. during these trade war events I have many discussions with friends in China.... nationalism brain washing running full steam over there.. and this is what I tell them - what is 'China'.. there are actually 2 groups - the average citizen and the interest group - the ruling party... I still have family and friends there, average citizens.. and in this trade war their interest actually aligns with President Trump! imagine if the markets open up, the average people will get better products and services at lower prices, while the zombie state owned enterprises will no longer suck blood.... but this of course jeopardizes the ruling party's position... a party that represents the complete opposite of the Western ideology and way of life. so, it is impossible to love or hate China, without defining what the object is.
also - nothing to do with the 'white' manager... don't buy the fake news media... the Dems have nothing going for them and they just knee jerk play the race card. it's about the ideology... I'd have no problem if Thomas Sowell or Ben Carson were the president... but lucky enough we are blessed to have Trump... so, MAGA!