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Chatting with a 23-year-old Stock Trading Millionaire interview
"A stock trader or equity trader or share trader is a person or company involved in trading equity securities. Stock traders may be an agent, hedger, arbitrageur, speculator, stockbroker. Such equity trading in large publicly traded companies may be through one of the major stock exchanges, such as the New York Stock Exchange or the London Stock Exchange, which serve as managed auctions for stock trades. Stock shares in smaller public companies are bought and sold in over-the-counter (OTC) markets." - wikipedia
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To answer some of the questions people have:
1) How'd I have 20K saved up at 18?
I Bought and resold items off craigslist, primarily iphones. Worked two jobs and I was very smart with my money and frugal and barely had any expenses at the time.
2) How'd I have such a high credit card limit?
I opened a capital one credit card at the age of 18 and used it every month and after 6 months, I requested a credit limit increase and then opened a discover account and used it every month. (Many people here need to educate themselves on credit cards and how to get a higher credit limit and ways around it)
3) "Never take a cash advance and start trading. Worst trading advice"
First i didnt do a Cash Advance, I did a BALANCE TRANSFER with a 3% fee for 18 months. Basically, you pay 3% on the money you take as a one-time fee and don't get charged interest for 18 months. (look it up). Yes, I know what I did was risky, but at the end of the day, you need to take risks to get forward in life and from what I see most people here look at risk at a terrible thing. I believed in my trading strategy and it was working so I needed more funds to get over the PDT rule (need 25k+ in your brokerage). I took the risks I was comfortable with taking and worked out, no one needs to take the same risks.
4) "Trading is gambling"
Trading in fact isn't gambling. You need to learn how to read price action and purchase stock whenever theres a lower risk and high profitability in play. For people that know trading understand, for the ones that dont, theres things called Moving Averages. MACD, RSI, Trends, Support, Resistance and so much more that help you align your trades.
5) I post all my trades on my IG story (IG: umarashraf) including losses and show transparency.
6) I never said I took my total brokerage account from 25K to a million. As I got better, I funded my account with more money through jobs I had and then eventually was involved in other businesses and always kept funding my account and kept living expenses to a minimum.
This is to educate people on youtube that are starting out that anything is possible. You will need to take major risks and invest TIME into whatever you may wanna do. Don't let "youtube Trolls" discourage you by showing everyone who is "successful" is either a scam, or from a rich family. People put their own insecurities on others so don't let them bring you down. Good luck to everyone trying to get ahead in life, wish you guys nothing but the best :)
+drunkenfr YOU SOUND LIKE A SALTY AND BITTER LOSING TRADER. IF YOU DONT THINK YOU CAN GET RICH THEN YOU ARE RIGHT ABOUT "YOUR TRADING". DONT ASSIGN YOUR DEFICIENCIES TO SOMEONE ELSE. ONLY THE TOP 2% OF THE PYRAMID SURVIVE IN TRADING. THE REST LOSE ALL FUNDS OR GET DISCOURAGED IN THE FIRST 5 YEARS AND NEVER RETURN. FOR THOSE WHO CONTINUE TO LEARN, APPLY STRICT DISCIPLINE AND RISK MANAGEMENT ITS 100% POSSIBLE.
The man said "I put all my 20k into a trade".... Man said "I was young"....bruv even a newborn would be smart enough not to put 20k into a trade their first time because it is 20K!!! (Unless you are a rich, spoiled asshole who gives no fucks)
Thank you very much for your videos on trading, she helped me a lot.
I have a question to ask you, I am Muslim and I am interested in trading for 2 years, I am passionate now and I would like to evolve.
I come from Paris and there is a basic information that I can not find.
I would absolutely trade Islamic stock indexes that are in accordance with my religions, there is some such as:
Dow Jones Islamic Market (DJIMKT); FTSE Shariah all World (FSAWRD); S & P500 Shariah (SP500S); MSCI AC World IS (MSACWS); Jakarta Islamic Index (JII) and Bursa Malaysia EMAS Shariah (KLSI).
My question is: Which broker offer these stock market indices so that I can trade them?
Because I did not find any broker at the European level who offered one of these indices.
I thank you in advance for your answer, I wish you a good continuation!
If he didn't even know why Gold was on such an uptrend how is it not gambling to keep buying and buying? Clearly worked out for him but couldn't something unforeseen easily happen and drive the price down? (I literally know fuck all about stocks so be gentle)
I went from 300 to 550 in about a week from day trading and I haven’t took any courses and I’m not especially skilled in stocks but if you keep risk low and choose good stocks you should be able to double the money in your account every 2-6 weeks depending on how things are going for you but if you are careful you should be able to build a good income overtime. I don’t know that much about higher money trading so this is mostly for below 800, from my experience
Total noob, never done any hands-on investing before, at all. But what I always wonder about is: if everyone has access to the same information (same graphs and indicators), how can you make money unless you're just better than everyone else? Maybe you can't. Maybe you can? Can a noobie who's paying attention to the trends actually make any money at this? I would think so. There's sometimes a false narrative about capitalism being zero-sum. (No, Mr. Trump, it's not.) I would think that even a beginner who's paying attention could make money, because capitalism is fundamentally generative: investment leads to real gains, not just for one party but--if there is open cooperation and competition--for all parties. Sorry, just rambling.
NOT SURE WHAT YOUR POINT IS BUT YOU OBVIOUSLY DONT TRADE FOR A LIVING. THE BEST AND MOST FAMOUS (AND RICH) TRADERS ALL HAVE A STORY ABOUT BLOWING UP THEIR ACCOUNT. SOME LOST 50%, SOME UP TO 100%. THERE'S A MENTAL ASPECT TO TRADING THAT CREATES THIS DOWN SPIRAL. I ALWAYS LOVE IT WHEN SOMEONE WHO DOESN'T DO IT FOR A LIVING USES THEIR "LOGIC" TO TRY TO LOOK DOWN ON SOMEONE'S STORY. GO LOOK UP JESSE LIVERMORE. HE GAINED AND LOST M/BILLIONS 2X IN HIS CAREER.
Another scam this is BS. You do not turn 20-30k into a Million trading in 3-4 years. Anybody who says that is a liar. Only way thats possible is if you dump the entire 30k into weekly options on a stock that has a sharp move. You would have to do that a couple times also. These guys are all scams
Have you got any videos on where a complete beginner to bitcoin or other crypto currencies would start? Or links to videos which can help? I'm tempted to put $2,000 down on trading crypto but I wouldn't know where to begin
Listen I know these paki guys on IG flexing their momma and daddy money! He makes a decent living selling courses to chumps on Instagram people that watch this video he makes one course and sells it for like 300 or 500 $ and only 1% of people will actually become successful from it. This guy gave the most vague answers maybe he got lucky on JC penny he gives shitty advice and beats around the Bush with the answers.
LMAO to all the salty comments. He's a millionaire so obviously what he's done has worked for him. If you've been 'trading for 10+ years' and you're not a millionaire, that's not his problem. 'He got lucky' - yeah all the millionaires just got lucky. Also, he's a normal human like the rest of us, how do you expect him to 'speak like a millionaire'?
7:50 "Margin is when you borrow the broker's money"
Stock trading professional, self proclaimed millionaire, do not know anything about the stock market.
Funny how the more they supposedly gain in the stock market, the less they seem to know about it.
he is a pathological liar. he does not know what the fuck he is talking about, i get the interviewers strategy and i can tell he does not believe this narcissistic child pretending to be something hes not. but what he is is a predictor preying on people that are gullible.
*Hello my fellow traders, the problem with FOREX TRADE is not that it is a scam in itself. However, when someone who is not knowledgeable tries to trade binary options, he/she will definitely lose money. The problem is that people are very anxious to make money and they don't take the time to learn the business. There is no luck in trading binary options it only works perfectly with the right strategy. Talking about the right strategy i have the winning strategy, my teachings and skills have been able to uplift so many persons. Contact me for more guidance at [email protected] or Whatsapp : +14422433874*
Brokerage fee amount by transaction value 1.
Trade online and settle your trade to a CDIA or CommSec Margin Loan 2.
Trade online and settle into a bank account of your choice.
Share Trades over the Phone 3.
CommSec Share Packs online 4.
CommSec Share Packs over the phone 4.
Trades requiring settlement through a third party 6.
1 For GST rounding reasons, the final brokerage fee may vary from the stated or expected brokerage fee by a couple of cents.
4 Normal brokerage will apply when a stock acquired through CommSec Share Packs is subsequently sold.
5 Amount per share will be noted as brokerage on each confirmation issued. There will be no substitution should a stock have a trading halt placed on it.
6 Includes third party Margin Lending, and where the Commonwealth Bank exercises its rights under the loan Terms and Conditions.
Other fees may apply. Please see the CommSec Financial Services Guide.
Open a CommSec Share Trading Account.
Buy and sell shares using a CommSec Share Trading Account with our cash account - with it you can seamlessly settle trades, transact and earn interest.
Buy and sell shares using a CommSec Share Trading Account with your existing bank account.
Frequently asked questions.
Shares held with another broker.
For the transfer to be successful the name and address registered on your issuer holdings must match your CommSec account.
Your request will be completed within 72 hours.
Shares held with the share registry To transfer shares held with the share registry into your CommSec Trading Account you need to complete an Issuer Sponsored Holdings to CHESS Sponsorship Transfer Form.
Your request will be completed within approximately 48 to 72 hours of receipt.
When you have bought and sold shares on the same day and the next trading day, your payment may be partially or wholly offset. For more information refer to the New Client Guide.