For me it was in the heady days of "Posiedon" when a 20 cent share shot up to over $200 I made a tidy profit but exited out way to early.
But from then on I was hooked.Even when I did not have the money to invest (You could invest a minimum of $50 back then.) I used to keep a record of what I would have bought had I had the funds. They call it paper trading nowdays and I still do it.
Ultimately its to make money or is it?
So what was your reason?
white_goodman
12th-August-2008, 05:22 PM
i like the idea of creating nothing but owning everything :)
IFocus
12th-August-2008, 06:47 PM
Total unadulterated greed, thought I was going to learn the secret and make super fast bucks
korrupt_1
12th-August-2008, 07:32 PM
i wanted to make enough to pay for the weekly petrol bill... wasnt that greedy... about $50 only....
Fishbulb
12th-August-2008, 08:22 PM
i like the idea of working for myself
but not too hard
nioka
12th-August-2008, 08:58 PM
I didn't know I was one. I thought I was an investor. All of a sudden the tax man decided I was a trader and not an investor so I can say; "It crept up on me when I wasn't keeping my eye on the ball." and the tax man made me become a trader.
Actually this past month I'm beginning to wonder if it is a good idea. (Getting cut with falling knives.) :banghead:
sam76
12th-August-2008, 09:43 PM
I did it for the chicks.
nizar
12th-August-2008, 09:47 PM
I did it for the chicks.
LOL True story!
You and me both!
canaussieuck
12th-August-2008, 10:20 PM
You guys are hilarious!
I need an alternate career, thats why i started to learn trading as a profession. I intend to continue building enough capital, studying harder, gathering resources, and gaining more experience with a view to leaving my current work and trading full time to make a living.
Thats the plan.
Cheers,
CanOz
white_goodman
12th-August-2008, 10:27 PM
You guys are hilarious!
I need an alternate career, thats why i started to learn trading as a profession. I intend to continue building enough capital, studying harder, gathering resources, and gaining more experience with a view to leaving my current work and trading full time to make a living.
Thats the plan.
Cheers,
CanOz
thats the dream right there, retired at 30 would be great also
theasxgorilla
12th-August-2008, 10:58 PM
I did it for the chicks.
You must have seen the same flyer on the lamp post that I did. Is your's working yet?
kennas
13th-August-2008, 12:56 AM
Driving taxis was getting boring.
But, looks like I'll be back there soon.
white_goodman
13th-August-2008, 10:05 AM
Driving taxis was getting boring.
But, looks like I'll be back there soon.
well atleast petrol is cheap :)
finvik
19th-August-2008, 12:51 AM
thats an interesting question! never thought about it. but now as this question has come up i think i was naive when i got into this, i wanted to get rich quick n fast. but now i have been testing the waters for 4 years. and now i have dropped all the plans to get rich, i think i am not earning great, but iam ion the verge of recovering whatever i lost in the initial years. now my focus is to recover and then again............TRY TO GET RICH:banghead:
vik
Trembling Hand
19th-August-2008, 09:36 AM
An easy way to fund my expensive lifestyle "needs" of fast cars, expensive women and exotic holidays.
nioka
19th-August-2008, 10:14 AM
An easy way to fund my expensive lifestyle "needs" of fast cars, expensive women and exotic holidays.
Is it working out that way?
korrupt_1
19th-August-2008, 10:19 AM
An easy way to fund my expensive lifestyle "needs" of fast cars, expensive women and exotic holidays.
lol... i prefer exotic women and expensive holidays :)
lower maintenance... :)
Trembling Hand
19th-August-2008, 11:04 AM
Is it working out that way?
Of course. No one loses at this game. All you need is a a chart with 20 indicators on it, huge leverage, a know it all attitude and you are made.:cowboy:
nioka
19th-August-2008, 11:17 AM
Of course. No one loses at this game. All you need is a a chart with 20 indicators on it, huge leverage, a know it all attitude and you are made.:cowboy:
And I thought that only 5% came out ahead and that the other 95% were the losers that financed the 5%. For someone to win then someone else loses. I would have thought huge leverage and a know it all attitude was a guarantee of failure and make you part of the 95%, especially in a falling market. Glad to hear I'm wrong again.
sam76
19th-August-2008, 11:20 AM
You must have seen the same flyer on the lamp post that I did. Is your's working yet?
The answer to that question is ........
no
Trembling Hand
19th-August-2008, 11:24 AM
Bloody hell nioka. Glad to see you can also give a tong in cheek response all the seriousness it deserves :eek7:
bvbfan
24th-August-2008, 04:13 AM
To make money while I was at uni.
Had a knack so kept going.
Enjoy having your own hours too
happyjack
24th-August-2008, 03:59 PM
The answer to that question is ........
no
LOL Sam76 you took me right back there for a while
used to have an Auditor come up from Queensland, a couple of times a year, He would sit in the corner of the office beavering away, but periodically he would say, to no one in particular
" and the answer is ........ A Lemon,..............A... Lemon"
just like one of those very early radio quiz shows, and every one in the office would crack right up
gav
24th-August-2008, 04:00 PM
My parents put around $500 into a company so they could get cheaper fertilizer for the farm, back in the late 80's or early 90's. They didnt even look at it until earlier this year, thinking they could use that money to put towards their property as my Dad was forced into early retirement. That original $500 turned into $75,000 and it paid off the rest of their property.
BentRod
24th-August-2008, 08:20 PM
Great story Gav.
Was it IPL?(were they around then?)
grace
24th-August-2008, 09:52 PM
My parents put around $500 into a company so they could get cheaper fertilizer for the farm, back in the late 80's or early 90's. They didnt even look at it until earlier this year, thinking they could use that money to put towards their property as my Dad was forced into early retirement. That original $500 turned into $75,000 and it paid off the rest of their property.
Was this in Pivot? A Farmers cooperative taken over by Incitec in 2003.
skyQuake
24th-August-2008, 11:38 PM
Well the coin landed on heads...
gav
24th-August-2008, 11:47 PM
Great story Gav.
Was it IPL?(were they around then?)
Was this in Pivot? A Farmers cooperative taken over by Incitec in 2003.
Indeed it was. I guess mentioning my parents were farmers gave away the company in a way... I have watched my parents work their butts off their entire lives, getting up at 4am 7 days per week, then 5yrs before they plan to retire Dad got hit by a car and can now barely move. It has been heartbreaking, and if it wasnt for that investment, they may have lost the property.
I am a low income earner too, never really tried to save before - only make enough to pay the bills (my hobby of bodybuilding is quite expensive too). I now make a conscious effort to put away something every month, even if its only a couple of hundred. Trading with a small amount (compared to others), but hopefully I can make that grow
korrupt_1
25th-August-2008, 12:09 AM
Trading with a small amount (compared to others), but hopefully I can make that grow
Nice story Gav... I think the Australian people do not know really understand the hardship our farmers go through....
Good luck with your trading... may you find a $500 gem that turns into $75,000 yourself :)
Temjin
25th-August-2008, 08:50 AM
To be financially free and to accumulate enough capital. Yep, greeeeeeeeeed!!!!
Though the chick does not come into my equation. It's already quite easy to get them without $$$. :D
Seriously, trading is not my true passion. Building a successful business is my, but I haven't found the industry yet and to be realistic, i need plenty of capital to account for failing many times in the process.
brty
25th-August-2008, 02:08 PM
Hi,
That ain't workin' that's the way you do it
Get your money for nothin' get your chicks for free
:sly::sly::p:
Why else????
brty
white_crane
25th-August-2008, 10:03 PM
I need a challenge, this might be it.
Naked shorts
29th-September-2008, 11:22 PM
I started because when I was little, I asked my dad what a share was, he told me that it was a piece of a company and that I could buy that piece.
This sparked intrigue and I have been following the markets ever since.
Now I am saving for a ticket to space (http://www.virgingalactic.com/)
Sam Collins
2nd-October-2008, 09:06 AM
My father and grandfather have always been into shares, ever since I was old enough to understand what they are I have been hooked too, even though I'm still 19 and learning ALOT, especially with the current market, I hopefully one day can manage to do JUST trading or at least have it as a solid backup to my primary job. I love the thought that you can sit at home and make just as much in about half hour as some people make in a week......I have a long way to go yet though, I think its best to just sit and watch at the moment and play around with some demo accounts :)
I thought too that because I am so young, I have plenty of time to learn it back to front and get it right, plus I think its a good thing to be experiencing the market like this, instead of getting into it later in life when its a solid up or down market and alot easier to make money, important to know that it can bite you hard.
Grinder
2nd-October-2008, 09:45 AM
Had to find out what all the fuss was about. Now I know, would'nt have it any other way.
rub92me
2nd-October-2008, 12:18 PM
Because buy and hold stopped working a while ago...
virago
3rd-October-2008, 01:03 PM
To pay off my student loan with the idea of quick money, instead lost around 50% of the capital, now in a recovery mode.
acedrum
3rd-October-2008, 01:26 PM
I thought I could make some extra $$$ as I already work from home as a web developer, sitting in front of a few computers all day.
Read a lot of books on investing and trading while on the road in my days of being in a touring rock band.
Shrewd Crude
7th-October-2008, 04:43 PM
wow sam...
its good to see you into your shares and investment at such a young age...
ive been in 5 years now, and Ive never seen anything like this... now I know for next time... this time we even got the warning bells, and last year I did sell out, only to reenter and get stubborn on a really good stock about 10 weeks ago that is very speical but has been delaying because of timing of its projects have been delayed... this has allowed the market to kick it to 16c...
I have a student loan to pay, that I hope is not lost on the market..
still three quarters covered now...
:cool:
.^sc
MS+Tradesim
8th-October-2008, 01:37 PM
I started out the wrong way and by accident. About 8 yrs ago I got a phone call from Thailand - some brokerage offering to make me a fortune on FX if I sent them my money. No way was I sending money to some international cold caller. I'd never even thought about investing beyond "negative gearing on a house" prior to those phone calls. It did start me thinking though so I jumped online and found FXCM. Mucked around with some demo accounts, had no idea what I was doing, went live, blew my account and was hooked :D. I did have the sense to step back and think though. Started again, very small with aussie shares. Bought every book I could find, started the Holy Grail search and eventually discovered it in the "boring" bits: positive expectancy, risk/reward, money management etc.
But now I know I am a trader. It's not something I do. It's something I am.
cordelia
8th-October-2008, 02:11 PM
Last year my husband died suddenly without a will and no insurance leaving me with 1.5 million in debt....and three children in private schools....
My original occupation was a school teacher...no one has to be a rocket scientist to work out that a teacher's salary was not going to fund all that....and I hate teaching....
Fortunately I had my own savings which I had used investing/trading for a hobby really but I needed an income..I had around $60000 in my broking account. I decided to bite the bullet and trade for a living...
I put my three children into boarding school and did nothing else but focus on learning to trade....
I lost a lot of money to start with but have found my niche....
I only trade four or five stocks. I trade in and out of them often taking small profits.
Books are important but I found the best education was just watching the market and of course losing money......That really hurts
Most important rule for me is focus on protecting capital not on how much you are going to make....Without capital you can't trade.......
strudy
9th-October-2008, 05:32 PM
Many thanks for all your honest answers. It is surprising the different reasons that came up.
But one thing that is common is that we do it for the money or what that money can provide.
But I must admit I loved Sam's 76 answer is "He did it for the chicks.":)
nunthewiser
9th-October-2008, 05:49 PM
:D the market was the only place that would hire me:D
justasx
9th-October-2008, 07:09 PM
The share trading attracts me for several reasons:
1. It's a business which has no customers.
2. I love the mathematics behind it.
3. Uncertainties and risk management appeal to me.
4. I like taking control over my own financial future, or at least feel as if I have control :D
5. I'm a bit of a loner and there are few jobs out there for people like me. Team-work stresses me out.
6. It can be as lucrative as I want to make it; and did I mention no customer hassles ;)
I am not yet a trader but I am educating myself until I'm ready to become one.
OzWaveGuy
9th-October-2008, 07:13 PM
Last year my husband died suddenly without a will and no insurance leaving me with 1.5 million in debt....and three children in private schools....
My original occupation was a school teacher...no one has to be a rocket scientist to work out that a teacher's salary was not going to fund all that....and I hate teaching....
Fortunately I had my own savings which I had used investing/trading for a hobby really but I needed an income..I had around $60000 in my broking account. I decided to bite the bullet and trade for a living...
I put my three children into boarding school and did nothing else but focus on learning to trade....
I lost a lot of money to start with but have found my niche....
I only trade four or five stocks. I trade in and out of them often taking small profits.
Books are important but I found the best education was just watching the market and of course losing money......That really hurts
Most important rule for me is focus on protecting capital not on how much you are going to make....Without capital you can't trade.......
Great attitude and great to see you take the bull by the horns (no pun intended) - many people aren't able to figure a way out and become really lost and depressed. One thing I like about this forum are the many stories and insights that folks have shared with others in order to build success!
white_crane
10th-October-2008, 12:06 AM
Hats off to you cordelia! :bier:
Hope it goes well for you.
kennas
10th-October-2008, 01:35 AM
My brother has always been in finances and is currently GM of an analyst division in a stockbroking firm. I got back from Rwanda after service with the UN in 94/95 with a pot of gold and had to stick it somewhere. He signed me up to his stockbroking firm at the time on mates rates and encouraged me to buy GUD, GIO and LHG (LGL). They all went OK, and I was hooked. Now I'm full time investing/trading because I am unemployable. Considering buying a taxi though...
