Where would you rather work? Ferrari or Aston Martin?
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.MASSHOLE.
Active member
13092042:Lucky. said:
God you are worthless.
Aston Martin isn't Italian either. It is British.
I won't even address the whole why does a company need a mechanic.
And HC8H, I don't think anyone would blame you for making that choice. Someone in my town has one and it is sweet sounding and just all around pretty.
.MASSHOLE.
Active member
So what did you do to afford this car? If you don't mind me asking.
H8CH
Active member
Hard work - is the easy answer.... but im a bit older than the main demographic here, in my early 30's.
I'm an Engineer, work in oil and gas.... but more importantly, work for myself as a consultant. Basically have my own company where i'm the sole employee and product.
On top of that - learn how to trade FOREX... so then Engineering becomes the way to butter the bread to make the sandwich so to speak...
"start building your dream, before someone else hires you to help build theirs"
I'm an Engineer, work in oil and gas.... but more importantly, work for myself as a consultant. Basically have my own company where i'm the sole employee and product.
On top of that - learn how to trade FOREX... so then Engineering becomes the way to butter the bread to make the sandwich so to speak...
"start building your dream, before someone else hires you to help build theirs"
H8CH
Active member
13097002:H8CH said:
oh and by the way - start early, making money is not as hard as people would have you believe. It just takes time, discipline, a PLAN and dedication... and realistic expectations. There is no overnight success formula... aim to save some cash, then start to learn how to turn that cash in to more cash, passively... take 1% here, 1% there.. it soon compounds nicely. I know 25 yr olds who are well and truly retired, whom started adjusting their mindsets and attitudes to money when they were in their teens. Most people quit though because they don't see the bigger long term picture.
Losers quit when they fail, Winners fail until they succeed
.MASSHOLE.
Active member
13097002:H8CH said:
13097025:H8CH said:
Interesting. Making it work as a consultant, especially in that industry, at your age seems difficult to someone with little knowledge of the industry.
FOREX trading is definitely interesting but difficult especially in this day and age again to someone with little knowledge or experience in the area.
Did you end up reading any books or articles that spurred on the FOREX trading?
RusselCrowe
Member
13097330:tronned said:Congrats to C on his v12 vantage. Doing us proud without a doubt.
here is a shot from work today. Oil pressure issues on this puppy today.
Youre job doesnt look cool or exciting...
H8CH
Active member
13097066:.MASSHOLE. said:
First off - your reply was instantly negative... you use the word difficult in your first two sentences. Of course, things can be difficult - but you need to be confident, and approach things with an attitude that promotes success. Doing what I do is just the same as being staff somewhere, only I get paid more, and I am free from the BS. You need the confidence to do it, but for sure I have had to step outside comfort zones regularly - and so should you.
My approach is my approach, and everyone will be different. I laid the foundations to success when I was in my mid- late teens... I then looked for the career path that would provide the most $, and most adventures - being paid to travel the world while young. That experience then helped me to get to where I am today in engineering... it's all just experience. If you're not getting it, move... never be afraid to quit, move etc if you're not getting what you need in return (talking experience, not money - money comes later).
Forex trading is simple.... but it's not easy. It's simple, because learning the basics of trading, strategy, risk mgmt. etc is simple. The hard part is implementing it - day in, day out... and remaining very disciplined. You need to remove all emotional attachment to money. It comes and goes.... you lose... often. But, you need to mentally condition yourself to the bigger picture - the law of large numbers and how to use your edge in a market to profit over the long term.
How many times do you see a Casino manager shut down the casino when someone win's a million bucks on a slot machine, or takes 150k off a roulette table? never. Because they are always playing the edge - it's the cost of doing business, and they will still be hugely profitable.
I know traders who lose 75% of the time, and are still profitable. That kind of pattern is hugely emotionally tough to deal with, so you need to be very focused, disciplined, and practice strict risk management.
The key is to simply make more money on winners, than you lose on the losing trades. There are ways and means to do that... but 90-95% of people won't have the emotional ability to stick at it - or they expect a huge return in a short period of time - then become disinterested when they can't turn $1000 into a million over night. If it was that easy, we'd all be multi millionaires right?
Imagine if you could take 1% a week out of the market. that's over 50% a year. If I went down to the bank and asked for a savings account with a 50% interest rate, they'd laugh at me.
once you can consistently take % profit from the market... you have the keys to whatever you want in life. The next thing is just building trading capital. Trading a $1000 account will take you a long time to become a millionaire. But if you can make consistent returns, then build up your capital to 10, 20, 30, 50k.... well then you're off.
Lots of good resources out there, and lots and lots of scams. Babypips.com is a good place to start for some free basics.
13098063:H8CH said:
Glad everything worked out for you. I have a very similar mind set and started planning for my future financially speaking in high school. Picked the Investment banking career path and am doing quite well for myself.
That being said...congrats on the car. Shes a real beut....but for someone who is still pretty young to spend that kind of money on a car is pretty dumb since you preach saving / investing so much. That 150k+ could be a lot more at your projected returns when your 50.
Though I need to criticize your FX trading preaching. 99% of people lose money trading forex. Its insanely difficult to get constant returns for average joes. Hell, the FX guys on the desk a couple floors down from us always say how hard trading fx really is. I really find it hard to believe you have accumulated all of this wealth from fx trading and making a constant % return WHILE working as an engineer but maybe I am wrong. Engineers are some of the smartest people I have met.
.MASSHOLE.
Active member
13098063:H8CH said:
Thanks. It is certainly interesting as a rising college senior to hear some experiences from someone relatively close in age.
How often do you spend time trading/checking stocks/investments?
H8CH
Active member
KravtZ
You're right - it would be pretty dumb wouldn't it. For someone who is apparently financially savvy, you clearly haven't heard the acronym OPM. You should look into that. It's a mantra the richest people in the world live by.
FX is tough for most people, but not because it's hard to do, but because it's hard to make consistent returns, mostly due to lack of discipline. Like I said, you need to understand the law of large numbers and the long game. But thanks. I've averaged 40%/annum over the last 3.5yrs. But I could never teach someone else.. My trading mindset is unique to me-same with everyone.
It's also a second income-it takes me about 20-30 minutes a day to manage open trades, look for new positions. I swing trade dailies and weeklies, shortly after the previous day close. I don't day trade - because like you said, I don't have time- it's click and forget income. Maybe in the future I'll do some day trading... Who knows. I don't like working.
I also own property, and have various other investments.
Anyway-back on topic... I'm not hijacking this thread.
You're right - it would be pretty dumb wouldn't it. For someone who is apparently financially savvy, you clearly haven't heard the acronym OPM. You should look into that. It's a mantra the richest people in the world live by.
FX is tough for most people, but not because it's hard to do, but because it's hard to make consistent returns, mostly due to lack of discipline. Like I said, you need to understand the law of large numbers and the long game. But thanks. I've averaged 40%/annum over the last 3.5yrs. But I could never teach someone else.. My trading mindset is unique to me-same with everyone.
It's also a second income-it takes me about 20-30 minutes a day to manage open trades, look for new positions. I swing trade dailies and weeklies, shortly after the previous day close. I don't day trade - because like you said, I don't have time- it's click and forget income. Maybe in the future I'll do some day trading... Who knows. I don't like working.
I also own property, and have various other investments.
Anyway-back on topic... I'm not hijacking this thread.
