Trading is Not a Get Rich Quick Scheme

Asad Dossani
One of the first finance movies I watched was Boiler Room. This film tells the story of a man who joins a corrupt brokerage firm. At this firm, they swindle their clients out of money by selling them fake stocks.

The senior partners of the brokerage firm are extremely rich as a result. They drive around in Ferraris and flash their wealth at every opportunity.

Movies like Boiler Room, while highly entertaining, do not accurately describe most traders. There's a common misconception that if you're a trader, you must be very rich.

The reality is different. Trading is not a get rich quick scheme. Instead, it takes hard work and years of practice to generate a steady income. And in the process, there are drawdowns, crashes, and periods of difficulty.

Even the traders who have done very well take time to get there. They've had to struggle and learn the hard way just like everyone else.

New traders are often surprised to learn this. Perhaps this is due to misconceptions about what trading is all about; likely fuelled by finance-related movies.

I like to think of trading as a business. A business has revenues and costs, just like trading has profits and losses. Businesses start small and grow over time, just like trading capital. Businesses face recessions; traders face drawdowns. Sometimes businesses fail, and sometimes markets can wipe traders out.

And as there's no magic formula for a successful business, there's no magic formula for trading either.

If you work a full-time job, think of trading as your part-time business. One with opportunities and risk. Our goal is not to get rich quick. Our goal is to build a successful business over time.

How long have you been trading? Share your views in the Club or share your comments here.

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7 Responses to "Trading is Not a Get Rich Quick Scheme"
mmkayastha
06 Dec, 2015
Will wait for reaction to my earler comment and then write.Like 
MMKAYASTHA
06 Dec, 2015
Need no comment.i have been buying and selling for last 40 years.i have learnt that lalach buri bala hai..One should invest only in stocks which have a track record and good management and build up his portfolio in few stocks over a period.one should not buy a large qty in the first instance and go on buying as and when market is down which is a nature of the market. Never enter to margin buying and future and option which is a game of rich people. Some one wrote correctly Rich invest and balance spend and poor spend first and what is left invest.. There is no mantra to become overnight rich. Future cannot be predicted. Only you may say on the basis of past data.If it was possible one will become super rich. It is true sound investment can give good return but book profit and buy same if there is a fall in price .It is better to switch to some other scrip in which you have investment. I have learnt late but one can start. Equity market purchase can give good retturn but one has to have a benchmark of profit he will like to earn to meet the inflation and future expenses on health family ie education etc.Like 
Nalin jain
03 Dec, 2015
Hello I fully agree to your point it is very difficult to earn in this trade and takes times to learn. Yes it should be treated as full time Business and with in a professional way. Please guide me. Thanks.Like 
R S Narayan
03 Dec, 2015
In the initial stage trading is betting or gambling. Later after entering the ring one and experience trading can become a business or profession Do not allocate a part of your earning or salary for trading, Enter in to the trading ring only if your losses does not affecct your normal standard of living There is no shortcut or theory in trading. There are factors beyond one's comphrehension in the bourses, for eg rigging, insider information, group forming cartel to rig the share price of a company etc I am in trading for the last 35 years and in the initial stage my few profit session use to be wiped out by one session with heavy losses. Now with my experirnce and certain tools inmy armour the overall position is positive,though there are loosing session.Like 
mr.saber abdulsalam mohamed elfaidy
01 Dec, 2015
saberelfaidy@gmail.comLike (1)
venkata narayana
01 Dec, 2015
I have been doing trading since 2 years, I did not gain much or loose much,because I did not invest lot of amount. But now I want to take trading as a profession and want to do full time, it is for me like a full time job, there are hard times I know but I love trading and it gives pleasure while doing and learning. Please help me to get there and become a successful trader.Like 
Harish Nayak
01 Dec, 2015
Trading is to make those traders & greedy operators rich.Like 
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