It is a sham that Buffett has been lionized. We people do not have access to the "offers" he gets. Further, if current day Buffet lost 80% of his worth overnight, it would have no affect on his life. Meanwhile, an overnight loss of only 50% of your neighbors cool 2mil would be life-changing. Why do people compare themselves to him? Buffet has not done anything really great since...
lol. easily nake thousands in futures then why worry about anything else kid..come trade futures and make thousanda a day
Congrats on your sons success. The odds of succeeding in professional gaming are far worse than that of trading- with odds rated as low as 0.01% : https://kotaku.com/your-odds-of-being-an-eathlete-esports-is-rapidly-becom-1620528958 I'm curious - did you do your best to talk him out of being a professional gamer when you found out he expressed an interest in it? Did you tell him and his friends it was a terrible low percentage play and to not waste any time trying because there are much better higher percentage opportunities out there? It sounds like you are pretty happy for your sons achievements and have no desire to talk him out of his chosen profession, despite the odds against him that make trading odds seem decent in comparison. This is in sharp contrast to your opinions presented here that repeatedly tell people that trading is impossible or a low percentage play and that it shouldn't even be attempted. You are among the 1st to respond to anyone asking about trading to tell them it's pointless and to choose another path. You don't even give them a timeline to see if they have any skills- just immediately give up and move on. Did you apply this same type of advice to your son when you found out he had an interest in the ultra low percentage play of esports? Did you tell him and his friends to immediately stop and move on? Because it sure seems there is a large amount of hypocrisy going on here if it's okay for your son to pursue his dream in an extremely difficult venture and you cheer him on, while at the same time trying to extinguish the dreams of others considering trading, a far less difficult path than succeeding in esports. How does a person who continually preaches to everyone to give up trading because of its high failure rate come to cheer on a son who is in a field with a failure rate that is many times higher?
who are you calling kid? Are you older than me? haha. Please read my thread "Make some progress but so much more to go". My goal is $5k/day. Not there yet. I'm averaging over a thousand a day now. You gotta know what AVERAGE means in this context. Some days you might make more but then there are days you lose right? Or don't trade because of work projects. Or you are flat. To average $5K /day that means I need to have days that I'm up $10K. I'm far from that. Hopefully I can get there some day. I feel like I'm on that path. Let's see.
Think smaller. Adjust your targets based on the potential of what you can lose, not what you can win. That is my thought, anyways.
oh actually - behind the low success rate, the fundamental reason is the opportunity cost... taking on short term trading, spending 1000's hours on it, inevitably will - drain your energy that otherwise can be spent on pursuing a better career with greater pay potential; - erode your financial resources that otherwise can be used to accumulate shares. my son is 14 lol.... no opportunity cost here... at this age all I care about is that he is happy and grow up healthy... this gaming thing, yeah I know the odds... it still feels like hitting a jackpot lol because there is little credit I can take. btw at the moment Toronto is playing Florida https://overwatchleague.com/en-us/ my son's team just beat both of them this weekend in practice scrims, they also beat Chengdu and Guangzhou... so at this point odds are good for these kids to make the league... in his case he needs to wait till 18... and at that point the opportunity cost discussion will come up, like if the league is not a lock, then do you skip college to keep playing the minor leagues.
I made around $700 on NG and it's Sunday afternoon! Like clockwork. Could have been over $1K if I waited longer. I scaled out as it was going up. Not complaining. A wise man by the handle @Overnight told me once as long as one is positive on a trade then it's good. LOL. Also, one can't get MFE on every trade he wisely putted. Technically Sunday is counted as Monday too. So I can still keep my $1K+/day average going! woohoo!
Excellent! Now this is where your discipline comes into play. You made your money for Monday. Can you stay out for the entire rest of the day until 6PM ET Monday night? Let us watch. My advice on this is to pull a room 237. Stay OUT! I have had days like your's before. Made the goal on the night before the RTH. Take tomorrow off. Go have a Wendy's Frosty™. Just chill. You deserve it. But do NOT go looking into room 237 tomorrow. The temptation is strong. But stay OUT! You hear me, stay OUT! I will Halloran all over your ass. Stay OUT tomorrow. Heed this.