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Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.
JM Keynes
Can you help answer these questions from other members on NexusFi?
I would say he is trading two lots because that's what he is comfortable with and he charges a small fee because he is not dependent on this fee for his main income. The posting helps him in that it makes him accountable and disciplined and he likes to help people.
Those suggesting to trade successful with 100 lots and charge high fees for subscriptions or courses, often flashing an exclusive live style, are the ones to avoid but attract the most people, or maybe I should say suckers.
Yes. Learn from people who are proven and have won legitimate trading contests. Traders like Mark Minervini (Won 2 Contests), Oliver Kell (Won 1 contest), and John Netto (5 years of Profitable Audited Broker Statements).
Stay far away from scammers who claim to have won fake trading contests (contests with no 3rd party auditing) and traders that have verified unprofitable trading records like Vinny Emini who sells Algobox.
very very few actually make money...even the majority of knowledgeable traders online are only putting up a front to satisfy their ego. I have discovered these two truths concerning profitable traders:
1. They were professionals within the financial realm for years before doing their own thing. These people spent a decade or better in the professional world being mentored and disciplined by real OGs...discovered their niche/edge...and simple exploit it on a daily basis as an independent. the majority of your profitable traders come from this category...good luck taking money from these guys.
and/or
2. They made their money in some other business and can only afford to trade big because they are literal millionaires before even starting. This is more common than you might think...I know a guy who lost $1.5 million before becoming profitable...he had owned a car dealership and among other smaller businesses then sold out for big money. these guys made their money in more favorable methods before turning to trading...they did not become wealthy via trading. "Im a millionaire trader"...but they were millionaires before even opening a brokerage account.
the fact of the matter is...if you are a retail trying to build your fortune VIA TRADING...the odds are so incredibly stacked against you it is painful to discuss. I would venture to bet that the 95% failure rate for traders is low. actual noob retails with no prior knowledge of the industry starting out with their get rich quick dreams of making it in the market...99.9%.
there is no such thing as easy money...and I think trading is among the hardest money to be made.
If 99.9% are not making money from trading, that means 100 out of every 100,000 are making money. Right? Which means there are around 144 people making money right here, on future.io.
When I say making money, I mean making a living. And I wouldn't be surprised if there were only 144 people here that are consistently profitable enough to do it for a living.
