Financial traders,who makes the money??

Hi all,long time lurker here.

Ultimately I'd like a decent liveaboard,but as we may have noticed it takes a fairly decent amount of moolah to have something like that even if starting out "cheap".

Have seen many ways to be frugal with boats,and have noted them as well as I seem to have a decent amount of common sense.

I've noticed mentions of gold prices,traders etc and am hoping there is someone on this site who is a financial trader who can give me some advice about money making.

Thanks to all.

 

Not to be a smart *** but earn more than you spend, keep bills low, save 10% or more of your earnings and using caution diversify where where you put the surplus. Make compound interest your friend not your enemy.

 

run drugs in a concrete sub

 

In America Goldman Sacks the most of it.

 

In the US regional banks are really beat up just now.
If you can sort the decent banks from the losers you might come out OK.

 

http://www.boatdesign.net/forums/op...n-liveaboard-cruising-yachties-26558-150.html may start you on the road to reading and learning - - expect to commit something in excess of 4 hours a day reading and some more time researching and 'book-marking' in your favourites section of your web browser some 100 to 200 links that you monitor daily.... Pick a discipline you feel you will have an interest in learning more and more (not just in your country - but GLOBALLY from global sites)... Avoid "mainstream media" as they are mostly asleap at the wheel and do not have a clue what is happening...

Run a dummy account, and when you can honestly report to yourself reliable gains - you are almost ready to commence the initial truth and loose most of your pot... - Timing and dispassionate decision making is the key... An ability to cope with high stress levels and remain cool, calm and collected, so dispassionate and logical decisions can still be made... - NOT AS EASY AS IT SEEMS....

My first 12 months was good - to March 2009, then the timing chain broke and ignition and injection were all over the place (unanticipated external consequences of US market manipulation via the FED for internal USA issues)... But I am still set to score very nicely - it is all a matter of timing and what the market does when it is ready to do it - whatever "it" will be....

I would be inclined to avoid paper-money and ETF or any other kind of leveraged action as the losses can be HUGE and less profitable than a generous casino...

 

I am a currency,options,small cap resource,and index (S&P & Dow e-mini) trader who retired at 32,travelled for 2 years,got bored and returned to trading part time.I trade when I want or when the market suits me.
It's not about the money anymore,it's the challenge and thrill of watching the account roll up.

Stay away from alarmist (mostly) BS websites and such.
Stay away from most web forums,just full of wannabe traders posting incessantly.Stay away from eBay sellers with the latest get rich quick garbage.
Use Youtube videos.
Learn price action,fundamentals,and candlesticks.
Use google,and sign up for free newsletters on a special trading email.Just google-emini newsletter,options newsletter,etc.
There are many different e-trading devices,bonds, futures,options,commodities,currencies,etc etc etc

BUT the failure/break even rate is maybe 85%,for many reasons:lack of discipline,not enuff starting capital,greed,poor money management,and/or just plain lack of brain power.
BUT thats how it is for everything in this world.
A working guy trying to start and learn (working when markets are open) is very difficult.
And I have zero interest in wasting my time mentoring people who expect the golden key,won't listen,and end up blaming me for their failures.

If you PM me and tell me what you do for a living-then I may decide to,at best,email you a few links.

Oh,as opposed to what others may say there are many great ETF's and leverage is a great thing if used wisely.

IF you can make it work,it is wonderful.I have made more in an hour or four (many many times) than what most people make in an entire year,if you need something to aspire to.

 

West is right.... and you can lose more money in a hour than most people make in a year. I trade forex, stocks and everything else. Would be careful right now.
Even selling short can be risky if no one on other side. Keep most of your money in cash. Gold is dumb. Find a job that makes you a little money to leave on. Trying selling stuff on ebay that you get dirt cheap. Got buddy buys old Boston Whalers for $300 and sells for $1500. He does 2 a month. Safer than online trading, better asset protection, no one trying to scam you...

 

Well md, if on FX with the slippage and whipsaws,many open contracts,and poor money management one can get nailed I agree 110%.
I retired from FX this summer,18 hours a day burnt me out.

And in options,as u know it's easy and cheap to get a little insurance anyways.

As for ES and Dow minis,I have almost nil slippage trading 20-40 lots on ES and 100 lots on Dow...of course I'm a little crazy but he could start on options for not a lot of $$$ and maybe Dow minis.

Regards