** Bop **
C ya
** Bop **
C ya
What happened to this thread???
Calm, everyone, please…
It is not worth fighting like this…
The OP can choose to do whatever he
wishes with his $30 after hearing both
arguments,namely that growimg that
amount is possible but highly improbable
(unless you already know what to do), but
also that it would be better to save up a
larger capital while getting consistent
results on a demo/simulation account.
If I may add something for newer members
(@LisaTrades ) is that there is a search function
and if you also scroll down a few pages on the
beginners’ questions section you eill see a lot
of similar threads on this topic: for some of
us older-serving forum members who
occasionally drop by on the beginners’
section it can be despiriting to see how
many people ask the same question,
sometimes as a one-liner, without
seemingly looking at previous tnreads
So while we should not be off-hand
and never put a newbie down, you
can see how this dynamic emerges.
While there are some people who
are entrepreneurially-minded and are
successfully able to get a great ROI in
any walk of life, including in trading,
it is good to give some sort of reality
check to anyone who thinks that if you
had a few weeks of good demo trading
you are ready to compound your way to
millions… This is like the Brexit debate,
where experts who produce reports on
the negative financial impact of a no-deal
scenario are called pessimists,fear-mongerers,
and nay-sayers, while the other side offers no
concrete plan except dreams and hope.
We must warn newbies that have no plan
that optimism alone is just not.enough…
Peace to all.
I keep walking away from this accursed thread and yet I keeped getting pinged by people who want to spar. Hence the whack-a-mole.
It’s a crazy day we live in when telling someone they need to learn how to trade before they can make money as a trader and making 1000’s % returns is not realistic, becomes a contraversy.
That’s alright, I will just sit back and watch the show.
@LisaTrades sorry if I mentioned you specifically,.it was actually acknowledging your contribution not me patronising you in any way (let alone on Brexit).When I said ‘you’ can use the Search function it was meant as ‘one’, in the generic sense, not as you specifically.
I think the OP is happy with our replies and can make his own mind up. We can just leave it at that.
@LisaTrades You are right, of course, nobody can say that they know everything, that would be arrogant.
I hope that we have all learnt something on this thread, if anything about the nature of civil debate
@krugman25 Yes, unfortunately there is a millionaire myth attached to trading that attracts people to it… Some people on BP are actually successful in that they are profitable, but as I said many times before the definition of ‘success’ is up to each one of us, it should not just be about making millions but about achieving your goals.
I am successful at being a stay at home dad, my daughter is two and.a half, and I was here from her birth: it has been the most successful thing that I have done in my life. Nobody pays me, and I am not a millionaire for it but I am successfully raising a child. That is also what success can look like
This thread made me look back to my own first ever post on BabyPips, back in 2013:
I had already done a few months of demoing and tried to explain what I had been doing, what worked and what did not.
It was nice to look back on that first post in light of what I now know and recognise that some things get easier,and others never do.
You are correct. From experience, there is no trading plan that can turn $30 in to $500 in three months. You can’t sustain a trading plan with that kind of capital. there too many factors and uncertainties; you need more equity to survive those.
I think this thread has way too many variables to actually give a verdict.
It is 30$ to 500$ achivable? Yes it is but it is improbable. Will OP be able to do it? I honestly don’t know but we know that 95% of traders lose so i will just go with the odds and believe that he can’t do it.
You risk more you make more, go on a demo with 1:500 leverage and just go all in every trade. You actually may achive this goal in just one day but it is improbable because you only need to lose once.
2.5k to 300k in 8 months? It is possible but improbable. I understand why @krugman25 is pessimistic, he is just playing the odds.
Petru
Welcome @LisaTrades, seems I missed a good pickle of a discussion here, huh?
Anywhos, looks like you’ve sussed out the keyboard warriors
Perhaps you can open a new thread and show us these gains - now that would certainly end the pipedream mentality. You’d also win the award for the first member to do so in the history of BP.
Other members “say” they have shown proof of results backing up such claims, but I don’t count screenshots as anything - and i’m sure you don’t either.
I’m polishing this as we speak ready to hand to you.
Oh man what happened to this thread. #thatescalatedquickly
But good to see a new user though, welcome @LisaTrades! Hope to see more of you around here. I do agree with your point re: tone of the feedback. I think a lot of the time, that is the cause of the many problems that have gone out of hand around here.
I see both sides in this discussion, the difficult thing to do when these things get heated is to keep the snark level down. Some people have their “boiling points” but the important thing is not to stay there.
Anyway, happy weekend to everyone!
Thanks to @LisaTrades for sharing that with us. I hope this one time posting on here won’t put you off completely and for ever in the future (in terms of posting again).
As @purtle said, we all need to be vigilant with our own ‘boiling point’ and try to take a deep breathe before writing/posting. Happy weekend to all!
I really want to thank you all for your contribution especially @PipMeHappy, @LisaTrades, @krugman25 @purtel etc.
Am the OP you all are always referring to, I never met to cause any dispute between members of BP. And @LisaTrades am gonna PM you, hope you don’t mind.
What I will do is just trade with my $30 and let it grow little by little using the best way possible. I don’t really care if I achieve such goal or not but what I really concerned about is becoming profitable. I’ve done a lot of studying and will still continue studying while I trade live.
Once again thanks to you all.
And as for @krugman25 you express your thoughts aggressively lol. At first I felt bad. But I not any more, because what I got from your reply was a point to be considered.
It will depend on your trading ability. Whether you want to make a profit of $30 to $500 you can earn that profit if you can manage your funds efficiently. For those traders who have better financial ability to bear risks can think of earning money by investing in large trading lots.
I am glad to see this as that’s been my goal all along. I do hope to see you around the forums more in the future.
If you are willing, do start a journal here.
@chimexpresh Thank you and I wish you all the best in your journey.
In terms of arrogance, it is not per se a negative trait: check the arrogant tone of successful trader and founder of ThinkOrSwim, Tom Sosnoff, in this interview:
He is a super-successful trader and entrepreneur, and yet the way he says that only trading options is worthwhile is a bit arrogant - he is saying that no other way is worth a sh*t, basically. Now, is he a failure, a non-learner? Not at all: the very get-up-and-go attitude he has is the very thing that gave him the personal success that makes him sound arrogant in that interview.
So Peter Honey’s quote is not universally applicable if you consider people like Sosnoff…
Sorry Lisa, I am trying to make a wider point, and kind of trying to reflect on when a bit of arrogance is healthy (as opposed to destructive)…
Also it is important to note that what some people deem arrogance is actually confidence. If you are Tom Sosnoff, who has been an options trader for decades and sold a trading software (ThinkorSwim) for over 600 million dollars, you are probably quite confident and knowledgeable.
He is wrong that options are the only profitable way to trade, but he is correct that they are one of the most profitable ways to trade.
@krugman25 Sosnoff did indeed sell ThinkOrSwim for $606M… He is a trading legend.
I am no apologist for bullying or demeaning behaviour, but of course we as a society seem to tolerate some of this more from outwardly successful people because it is part of the package…Of course you can be nice and approachable even as a successful person: look at the Dalai Lama! So there is a fine balance between being pushy to further one’s goals but also being graceous with people generally (even those who oppose you)…That is the hardest thing of all, getting that balance right.
It’s possible but not worth the time. Anyway, risk still would be involved.