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Anyone here successful?

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aniBeasts

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Can someone here put their hand up and honestly say that they made money trading?
I am really getting over being sucked into these $5000+ courses.
I have been to a number of free webinars/seminars SITM, Optionetics, HUBB, yourtradingroom... etc. and always seems there's one better than the other. I have been luckily thus far as I don't have $5000 to spare.
Is there anyone who started with as little as $500? (all that I have left from my original $3500 after dodgy TLS shares + bad recommendations from blueskyreport (maybe a bad time I got into the market).
 
Yeah, I'll put my hand up and say that. Call it beginner's luck which will eventually expire or raw innate talent, but I fairly consistently make profits on my trades (with some exceptions, of course). On average have done very well, at least so far. I've been trading since 2008, so not all that long, still under three years.

I have not read any books or taken any courses. I never paper traded. I started out with a little under $2,000.

Something any wise trader or investor of any kind will tell you (and so will I, not that I'm necessarily wise) is that everyone is different and what works well for someone else may not work for you.
 
It depends on how you define successful. I am also a beginner, only been doing this for 30 years, yet there is always something new to learn.

I make money out of trading fairly consistently, yet if I used only $500 to trade the way I do I would go broke very quickly. You need to start saving and get a decent grubstake to start. Using $500 will see brokerage eat your money very quickly, or a CFD provider snaffle your lot.

Personally i think you need to add a couple of zeros on the end of your starting amount to be a part time trader.

brty
 
It is a long time now since I've made a trade under $5,000 because of the brokerage issue, but I don't think you need to avoid making a trade or two of $500-$1,000 when you're starting out. Even if you don't make money on it, you can learn the basics of how it's all done. For someone like me who wanted to learn by doing it rather than reading books and doing the theory to death, it was good to make my first trade quite a small one.

You certainly don't need to add "a couple" of zeroes to the end of $500 to get started, and I don't think there is a problem with getting started the way I did, with less than $2k to your name. You don't have to escalate quickly, you can even just buy $1k worth of shares and sit on them for a few years if you really want to. Nothing wrong with that at all.
 
I've changed my style in shares recently from trading to investing. I used to sell out at around 10 - 15% or cut my losses at around 2-3% it was quite successful but I tried out deep value investing in the small/medium cap of the ASX and I have never looked back.

Personally I believe that the smaller caps have little to no insto coverage (market cap too small to be bothered to invest in for 99% of instos and sophisticated investors), so if you can buy something worth a dollar for 60 cents, then sell it at 80 cents you'll be able to make money relatively quickly (how I'd describe my style of investing/trading).

I don't trade a system or any set values, like real mining projects or factories etc, each company is different and has quirks and certain traits, and thus should be treated as unique. This understanding of small companies that most people couldn't be bothered reading about is my "edge".

That all being said I tried very short term trading for a while, and blew up, yet I'm ridiculously successful thus far with deep value investing (longer time frames are also less stressful). Perhaps you simply need to try out different systems and methods. Like the companies being unique as I mentioned earlier, people are also unique and we all require different styles to invest.

To say you'd need anything above 10k to start out is ridiculous, even holding 100% of your portfolio of 5k in one share is feasible imo (not advisable depending on individual circumstances etc) but it's possible to make a beginning at that.

 
All my life I've had no problem in being successful at being unsuccessful.

Others who are also unsuccessful setup shop persuading them they can make them successful and sure enough they're unsuccessful as well; would you believe it?

Basically guys, if you look around for others to wave a magic wand and make you successful, you remain unsuccessful. Worse of all is being temporarily successful as you might even fool yourself into believing it.

If you want luck then put a few dollars on the lotto each week. I do it and never win but it doesn't matter that much.

If you've lots of time invest widely and don't go for high risk. If you can double your money every 10 years and add savings to it you'll get rich slowly.

In my position time is running out and I take high risks. Like many I have good pension funds and other assets to fall back on - I've done the high risk pain bit and it's not worth it.
 
Fully agree wirh Noirua I have been doing this for ten years now i sometimes trade and sometimes take a longer investment frame it depends on the unlocked value i see in the share I have only had two losses although several did not go as far as i expected In both cases they were shares i had bought at what i considereda low price but they were taken over before they got to the stage that i had got back my brokerage . Every time i go topurchase i ask myself can i afford to lose this money if the answer is no i dont buy

I have never done any courses just jumped in naively admittedly timidly at first then refined my system over the years
 
In my position time is running out and I take high risks. Like many I have good pension funds and other assets to fall back on - I've done the high risk pain bit and it's not worth it.
Click to expand...

?????
 
tech/a said:
?????
Click to expand...


It make you wonder does it not?

I thought trading was about learning, and improving.
Developing a trading plan, money management etc.

Its like learning a new language, relative to crowd decisions and indecisions.

Learning the market, takes time and effort.

When it is done well, it is mentally stimulating.

In Valentino Rossi's book " he says there is no such thing as luck, only good and bad decisions." With good decisions you stay on the bike. He ought to know as he was more off it, than on it when he started.

If you win the lotto you are not lucky. It was a good decision to buy a ticket!

I get a kick out of seeing a Doji at the end of the day on a chart. Because the crowd do not know what to do, buy or sell.

Anyway for those who gamble on the market. Good luck!
For those who are trading the market for a profit . GOOD DECISIONS!!!!!

Cheers.
 
$500 is an amount that is hard to turn into $5000 but not impossible. The first question to answer is "are you prepared to lose it". The next question is how much effort will you be prepared to make and the third is how much patience do you have. All these are equally important.

Assuming you are prepared to lose it, you must be prepared to do more research to invest that $500 as you would to invest $50,000, simply because you can not spread the risk. Patience comes in straight away because you will have to make up brokerage before you start to show a profit.

So my suggestion is to pick a stock, do a lot of research and ,if you convince yourself it is a goer then invest and watch what happens. Research doesnt stop after you buy but you must keep up to date and decide whether to "hold em or fold em" daily.

Good luck, (you make your own luch in this game most of the time).
 
I have been successful so far. I have been doing some analysis and reading, but I am sure it's to do with right place right time.

Put $9500 in, took $11500 out in 4 months. Ended up putting it into ASX just before it went into a trading halt and gained 25% because of that merge.

I guess this is nothing but dumb luck, but I am learning how the media/other factors and announcements influence a share price.

I don't really care about the loss factor, if I hit $0 tomorrow I wouldn't be too affected as I'm young, no kids mortgage or commitment yet.
 
To the OP, just about anyone can be successful at anything now-a-days, with so much information out there anyone can self learn, practise + repeat.

If you are asking yourself,

Is it possible?, work on yourself, not others.

when you change your thinking to

I know it is possible, how do I make it work for me then you are a step closer.

I have been doing this for 10 years now, and following my heart around the word learning about the different markets as I go AUS-UK-EU-US-JPN-AUS.

I have promised myself if I ever believe I have figured IT out then I will cash in my trading accounts and head for the exit.
 
I am trying my hand at this now...

My portfolio went up $1000 just yesterday so hopefully this trend continues...
 

If you only have $500 all you have to do is save $100 a week for 5 weeks and you will double your money.

If you have onlt $500 your biggest problem is your personal money management, and becoming a succesfull trader will not help solve your poor money habits.

I suggest focusing on spending less than your earn consistently every month, build up a capital base in an index fund. If then over time you become more educated you could start to invest your own capital and maybe put a portion into some trading operations.
 
I have been moderately successful after starting trading 9 months ago
I cant to the paper money find it boring no thrill of a win or sort out a loss

I did start by joining a Subscription to a news letter which the advisor was up 80% plus on share last year

I copied a few of his tips but brought in too high (not knowing that share can change dramatically from day to day and week to week). That's how new I was !!!

So took a step back started to read more on shares looked at charts ( which I am still taking all this in) and joined this web site and a few others. I read the shares on here from the first post to get an idea of the Company and the Company's long term prospects. This can take a while but well worth the effort

I only put in from 1k to 6k per company. I need to spread the loss if they do go down. This is how I learn

I have a Building Company, Property, and an Accommodation rental property in a Wine area in Qld.

Now I am up 18% ($7000) and still learning

So I can loose but I am a bad looser and will always come back till I take a Win.
This is long term for me.

Hope this has been some help for you

James
 
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I have also never paid for a course however I would be very happy to pay to spend an afternoon or a lunch with some of the respected posters on this site. The assistance I have recieved on PM's has been very overwhelming.
My advice, find your stock, read the entire thread, ask questions of the knowledgable posters( you'll soon work out who they are), respect what they say as well as research, research, reseach.
I also agree that an hour or two per day reading through a forum on a particular share will teach more than a book.
And yes, you can start with $5000 and make a decent earning in 12 months.

Currently enjoying and holding AUT SEA MHM
 
And yes, you can start with $5000 and make a decent earning in 12 months
Click to expand...

What in your view is a decient earning on $5k in 12 mths?
 
tech/a said:
What in your view is a decient earning on $5k in 12 mths?
Click to expand...

All I can give you are my experiences and stocks I've worked with. I'm sure there are many more experienced traders with better info but here goes.
$5000 of AUT 12months ago approx 30c today $1.33ish, therefore $5000= over $20000. A similar number for MHM and SEA I've only had for 1 month but are up 18%.
Fortunately I was able to start with a bit more than $5000 but I'll stand by my claim that a decent earning can be derived from a 5k start.
We havn't even started talking about how the real smart guys would have bought and sold in the troughs on the way up.
Now, do you want me to describe the flip side. PLA and UNX= lost big-time but from information gained on this site was able to bail out and put into successes.
Cheers and thanks to all posters.
 
nunthewiser said:
turning 5k into 500k like everyone else does here,

cmon mate you should know this
Click to expand...

Just fish'n as you know.

Ive got the sneaky suspicion that our friendly assassin is hinting that you can earn a living from $5k.

Hopefully I'm wrong and he is suggesting with the right $5k investment a good return is possible.
Id argue that losing the $5k for most novice traders is more likely.
 
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