Do you know a successful trader?

[charttv]

We all hear the stories about how hard trading is and how few succeed. But what about the success stories?

If you have a story of success or know of a successful trader, please share that story with us as I could do with the inspiration.

How did you/they start? What was your/their general approach? How long did it take you/them to become competent? What have the rewards been?

Yes, I know I could just re-read one of the Market Wizards books but I thought it would be nice to hear of home grown stories that I can relate to better.

 

[quinny]

hi charttv,

I'm no long term investor/trader by any means though I have been involved with the stock market for the past 8 years or so. However, since you want inspiration I thought I'd share my recent experience with you.

Back in october 2005 I bought three stocks - PDN, SEL and DMP. At that time I came up with a formula to pick stocks. I can't remember exactly what it was but something like "see which ones have had a price drop and will probably go back up based on their past performance". I worked for a stock broking company then so I could easily view and group all sorts of data to work out what I wanted. Unfortunately I no longer have that ability.

However, those three stocks all went up a lot within 5 months (esp. PDN, over 120%). I wish I had used more money to put into it but I had so little to work with and am trying to slowly grow it.

Since that time, my starting cash was about $6,600 and now I have about $10,500. I am only still holding PDN though and have bought EXT.

Just a tip I picked up. Back a few years I thought PDN was too high a price to buy at 0.80c! Now it's around $5. So I always think these great returns are out there.

I am not recommending any of these stocks, this is just relating what I have done and the returns I have gotten so far. Please be aware that not everything will deliver a great return and I lost a lot of money before I made those small gains.

And there are a lot of successful traders out there, but I always think the best way to guarantee making money in the stock market is to be a broker and collect brokerage.

 

[wayneL]

..... but I always think the best way to guarantee making money in the stock market is to be a broker and collect brokerage.

Or sell trading courses

 

[It's Snake Pliskin]

Old renee was the man of the moment back a few years.

I don`t think there is a definitive answer to this. How amany variables affect it. Too many I think.

Tech is a good trader,

what about Joe Blow though. Do tell. Joe I like you you are good guy.

rederob and bloveld can you trade chapsters? That is the question.

Bobby is good as is happytrader and julia your not bad either. Prospecter you are pretty and bullmarket you are .........................hey I won`t get there pally.

moneytree is generous and wayne y L yo are the man.

chart tv you have some good stuff keep it up man.

Nick the man of the moment go you good thing.

 

[macca]

Hi Chart TV,

I note that you haven't been on this forum long, if you take the time to read this and other forums, you will notice that some of us have been around a while.

Back in the days of Stock Central and a few others since, the same people keep bobbing up, still trying to help other people achieve their goals.

Most of the old hands are successful by their own measure, not looking for 100% a month, quite happy to repeatedly murder the ASX each year

The funny thing is we repeatedly see newbie posters come on and rave about fantastic new indicators caled the RSI or the stoch or some completely new name that does the same thing

I appreciate that you have been involved in the industry, but you would have been dealing with people who follow broker rec's, we don't do that

Naturally, the way the market has been lately, darts have been as good a method as any, but the patient traders always seem to survive the bad times to be here for the good times.

Even the famous traders have lean years, here in Oz before CFD's, in a bear market it was enough to survive, waiting for the bulls to return .....

 

[RichKid]

We all hear the stories about how hard trading is and how few succeed. But what about the success stories?

If you have a story of success or know of a successful trader, please share that story with us as I could do with the inspiration.

How did you/they start? What was your/their general approach? How long did it take you/them to become competent? What have the rewards been?

Yes, I know I could just re-read one of the Market Wizards books but I thought it would be nice to hear of home grown stories that I can relate to better.

Nick's Radge's book 'Everday Traders' is quite good, as are the Masters of the Markets books- all Aussies, some big names, some unknown.

Also, there are some other threads here on success and what it constitutes, some people think they are sucessful with only a short track record. I'm not successful yet, still have to recoup lots of losses so no happy stories from me I'm afraid...another reason not to take tips from my posts.

I reckon WayneL could write a great autobiography!! Go for it Wayne! and include those great cartoons you have as well....maybe you could have a big teddy bear on the front to set it apart from other trading books....