Has anyone here made themselves "rich" or wealthy by trading?

[tech/a]

$328 k 2003 - 2007
All documented on Radges " The Chartist " under
The Techtrader thread.

I know Sir O pulled $300 k in one trade because it cost
Me $500 to Joe to find out !

To trade and make 250k particularly in this market you need to be very very good at it.
I don't trade full-time --- don't want to and don't have to.
In a bull market such as the period 2001- 2008
You could do it with around $100k with a compounding system returning 30 % ish.leveraged with margin
But 750k with nothing more than a 30 % return on a discretionary method ( stocks )

Trading 5 - 10 futures contracts you'll need around 100 k ish depending on what your trading --- but that is way way way in the future.

 

[Steve C]

$328 k 2003 - 2007
All documented on Radges " The Chartist " under
The Techtrader thread.

I know Sir O pulled $300 k in one trade because it cost
Me $500 to Joe to find out !

To trade and make 250k particularly in this market you need to be very very good at it.
I don't trade full-time --- don't want to and don't have to.
In a bull market such as the period 2001- 2008
You could do it with around $100k with a compounding system returning 30 % ish.leveraged with margin
But 750k with nothing more than a 30 % return on a discretionary method ( stocks )

Trading 5 - 10 futures contracts you'll need around 100 k ish depending on what your trading --- but that is way way way in the future.

Thanks Tech - I had a feeling you were one of the "profitable" ones - please excuse the ignorance in my question but is "techtrader" a system of trading? I can't find much on google.

 

[young-gun]

Thanks Tech - I had a feeling you were one of the "profitable" ones - please excuse the ignorance in my question but is "techtrader" a system of trading? I can't find much on google.

I think he means this:

https://www.aussiestockforums.com/forums/showthread.php?t=982&highlight=techtrader

 

[tech/a]

Techtrader is also in Radges book " Unholy Grails "
Pages 103 to 107 from memory.
Not the best system in the world but did the job.

 

[bullet21]

Techtrader is also in Radges book " Unholy Grails "
Pages 103 to 107 from memory.
Not the best system in the world but did the job.

just started this book today, read Adaptive Analysis a while ago as well. Look forward to seeing what it has to offer.

 

[Julia]

A good quesion to be asking, Steve C. And the knowledgeable people on ASF are probably the right ones to be asking it.

Most people must dream about the big 'strike', otherwise those Lotto tickets would never sell.

It would be interesting to know what proportion of the population actually buy these. I've never bought one in my life. The odds are dreadful.

I read a news article a while back about all those 'penny dreadful' stocks that are now worth mega-bucks because they were lucky enough to dig the right hole in the ground

Maybe remember that for every one that turns out to be a raging success there are probably a dozen or more which will lose your money.

To trade and make 250k particularly in this market you need to be very very good at it.
I don't trade full-time --- don't want to and don't have to.
In a bull market such as the period 2001- 2008
You could do it with around $100k with a compounding system returning 30 % ish.leveraged with margin

Even without margin, you could double your money at least annually for many of those years.

 

[Julia]

I can only think of 1 ASF member that may fit that category.

Would you necessarily know? Most people don't divulge their level of affluence or otherwise.

Great post - cheers mate, I guess the main difference for me is I now have a mortgage so free capital is even more limited, I guess it's better to play with 3k and lose it all then 20k with my current level of knowledge though.

Happy trading!

Good luck with achieving the sort of goals outlined in your initial post if you're 'playing with $3K'.
Ditto $20K.
Just imo of course.

 

[springhill]

Maybe remember that for every one that turns out to be a raging success there are probably a dozen or more which will lose your money.

I wish the odds were that good!

 

[prawn_86]

Would you necessarily know? Most people don't divulge their level of affluence or otherwise.

Nope, no idea. But as i said, i can only think of 1 that may fit the category. There may be many more (or none)

 

[springhill]

This is pure speculation, but YOUNG TRADER was really active here while the boom times were huge, and found alot of specs that did really well.
What happened to him? I enjoyed reading his posts.

 

[CanOz]

This is pure speculation, but YOUNG TRADER....

No pun intended hey Springhill!!

YT was a good speculator indeed. I recall he returned for a while and then left again. Good fella...

CanOz

 

[skc]

It would be interesting to know what proportion of the population actually buy these. I've never bought one in my life. The odds are dreadful.

What you are buying is not the probability of winning. You are buying the hope of winning which lasts somewhere between 2 hours to a week (should you buy earlier). Cheap thrills really.

Lottery has been called taxation on the poor for this reason.

As to people wielding $20k and hoping to make it rich... the odds are probably better than lotto on paper when you look at the rise in share price. But I bet you most people with only $20k will not be able to hold their position 'till $10m. They will sell at $5k profit and proceed to chase another lotto stock and lose in the longer term.

The proverbial "bottom draw" stock usually refers to those which the share price has crashed, as opposed to one that has gone up 500% but with another 20x to run.

 

[Judd]

It all depends. Some have a very uncomplicated life and are quite happy on, say, $30k-$35k. For others $250k will not sate their wants.

I neither know nor care about them in that regard. I am content with my situation.

 

[craft]

I consider myself financial secure and independent as a result of investing. Only average jobs up to the age of 30ish when I started to concentrate fully on investing/trading. Not sure exactly how much was saved from jobs and what was investment return in the early days. I saved hard from salaries and I retained all investment earnings to build the capital base initially.

Yearly cash flow now is greater than the capital I went full time with.

I have not invested other people’s money and I have received no gifts or inheritance, I have no investments apart from personal property outside of share. – being where I am is a result of saving hard initially and hitching those savings long term to quality companies and reinvesting the dividend stream. A big help was the ability to live of a second wage in our family until the income stream from investing become big enough to sustain those expenses.
No sports car. Compounding is Key and the future cost of a sports car is unjustifiable to me. (Obviously I’m not rich enough yet)

So there you go – My story so far is financial freedom at least is possible at a reasonable age. Preparing this response to your question makes me feel like I have an ego problem but how else do I convey the message? Given the difficulty in answering the question I doubt you will get a lot of affirmative responses to your question if there are successful investors here. If my level of disillusionment with forums is representative then they are probably transient contributors at best.

I think the amount of hours and level of dedication I have put into investing should have made me successful if directed towards most other careers, so investing is not a windfall way to make big money with no effort. I just chose investing because its what I liked and what seemed to come most natural to me. Looking forward, Investing is very scalable and compounding is powerful but the risks are real. My desire to continue investing is undiminished so my story is unfinished and the ending is uncertain.

 

[springhill]

It all depends. Some have a very uncomplicated life and are quite happy on, say, $30k-$35k. For others $250k will not sate their wants.

I neither know nor care about them in that regard. I am content with my situation.

You are only happy when you are giving someone the old "chicken wing" hey Juddy

 

[Steve C]

I consider myself financial secure and independent as a result of investing. Only average jobs up to the age of 30ish when I started to concentrate fully on investing/trading. Not sure exactly how much was saved from jobs and what was investment return in the early days. I saved hard from salaries and I retained all investment earnings to build the capital base initially.

Yearly cash flow now is greater than the capital I went full time with.

I have not invested other people’s money and I have received no gifts or inheritance, I have no investments apart from personal property outside of share. – being where I am is a result of saving hard initially and hitching those savings long term to quality companies and reinvesting the dividend stream. A big help was the ability to live of a second wage in our family until the income stream from investing become big enough to sustain those expenses.
No sports car. Compounding is Key and the future cost of a sports car is unjustifiable to me. (Obviously I’m not rich enough yet)

So there you go – My story so far is financial freedom at least is possible at a reasonable age. Preparing this response to your question makes me feel like I have an ego problem but how else do I convey the message? Given the difficulty in answering the question I doubt you will get a lot of affirmative responses to your question if there are successful investors here. If my level of disillusionment with forums is representative then they are probably transient contributors at best.

I think the amount of hours and level of dedication I have put into investing should have made me successful if directed towards most other careers, so investing is not a windfall way to make big money with no effort. I just chose investing because its what I liked and what seemed to come most natural to me. Looking forward, Investing is very scalable and compounding is powerful but the risks are real. My desire to continue investing is undiminished so my story is unfinished and the ending is uncertain.

Thanks for sharing the above craft - so your strategy was more long term investement's rather then "trading" as such?

 

[Judd]

You are only happy when you are giving someone the old "chicken wing" hey Juddy

Yep. Marinated for two hours in a soy, honey, grated ginger, crushed garlic and sesame seed sauce. Baked in oven until cooked and then served on a bed of Asian salad. Delicious.

 

[skc]

I consider myself financial secure and independent as a result of investing. Only average jobs up to the age of 30ish when I started to concentrate fully on investing/trading. Not sure exactly how much was saved from jobs and what was investment return in the early days. I saved hard from salaries and I retained all investment earnings to build the capital base initially.

Yearly cash flow now is greater than the capital I went full time with..

Without wanting to know your age... how many years did it take take to achieve this?

Yep. Marinated for two hours in a soy, honey, grated ginger, crushed garlic and sesame seed sauce. Baked in oven until cooked and then served on a bed of Asian salad. Delicious.

Add in the rinds of lemon for some zest.

 

[craft]

Thanks for sharing the above craft - so your strategy was more long term investement's rather then "trading" as such?

I’m not sure nor care where the differentiation between trading and investing officially sits. But my focus is the difference between what I perceive the value of the business to be and the price. Concentrating solely on the price action is not my thing.

So you can call it investing if you wish and long term is my objective but I don't get to dictate that either.

 

[craft]

Without wanting to know your age... how many years did it take take to achieve this?

10 years investing/saving.

10 Years full time concentrating on lifting the return, as that provided more long term bang/time then continuing with a wage.

It's only in recent years that the investment returns have been asked to cover living expenses. The second wage in the family was important to let me initially concentrate full time on investing.

I'm 41