One trade

[TheUnknown]

Here is the question.

Since talking to many successful people that have made a lot of cash from the markets, all have had different strategies to the riches. Most have made significant some of money by risking. Do you believe with ONE trade you can set yourself up?

 

[So_Cynical]

Yes of course it can be done but...

 

[skyQuake]

Lets put it another way.

Would you like the nugget of gold or the hand of midas?

 

[pixel]

Lets put it another way.

Would you like the nugget of gold or the hand of midas?

How would you eat if you had Midas' hand?
Better think twice before you wish for "majick"

In reply to the initial question: Trading/ Investing is a profession like any other.
Just like you won't be set up for life by building one house, you need to work on increasing your capital steadily. Doesn't mean you can't get lucky: "One Powerball..." and all that. But that's not what this topic is about.

Let's break it down into different case studies:
Case 1: You have a smallish sum of money and want to live off the proceeds for the rest of your life.
Take too much risk, and you're wiped out. Put all your money on a "safe bet", and chances are you're wiped out too, possibly at a level just before it takes off. Chances of success are about on a par with the Powerball. So, you're best advised to play it safe, trade a spread of "good" prospects, and hopefully beat the bank interest.

Case 2: You have a small fortune, enough to live a modest life just from bank interest or safe-haven dividend-paying shares. If you're really smart (and modest), you won't have to work any more. Just take an endless holiday. But in reality, you'll want to increase your net worth. And in that case, your attitude: GREED! - will most likely help you take too much risk and continue to reduce your small fortune, until you're back to Case 1.

Case 3: You have inherited or otherwise acquired some obscene wealth. Think Bond, Packer, Murdoch... In that case, you won't likely be able to stop trying to make more and more. But unless you're Paris Hilton, you'll have benefited from a reasonable education that has set your mind on working (or playing) hard to keep increasing the family fortune. You may not always succeed, but you're unlikely to put your entire fortune into a single project, hoping to overtake Bill or Warren.

Summary: Many of us may dream of that one elusive 100-bagger that sets us up for a life of luxury without work; but in reality, the odds are stacked against it.

 

[Eddyy]

Damn I wish if I can put my wife in the stock market
And my mother in law as well