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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 :)
can somebody or some one show me the best/right direction towards being sucessul in the market pls..... Any advice, suggestions, links or support shall be taken on board and apprectiated....also like to wish the best for everyone thats trading.
ppl are missing the point he made... everyone is saying it is impossible that he made continuous profit...he never said he made continuous profit...he told that if u make trades u will have both profits as well as losses but u have to make sure ur profits are greater than ur losses
I was motivated to start learning i even bought a couple of books, finished 3 of them, charting, stocks introduction, stocks for dummies etc, then i opened an account on ameritrade , made a deposit of $5k, started looking for what i think are good stocks .stocks like ONEOK Planet 13 ACB and CLOUDERA caught my attention because of the volume, projection revenue , recent acquisitions etc but then i was like what am i doing? i started questioning myself, how tf i am going to make any profit and compete against millionaires and pros that even own a Bloomberg terminal or whole firms that will be ahead of me all the time, like any good information i may find, some one will find it first, i dont know.. i was really motivated but then... i dont know what to do.
This could have been a much better interview. Umar is like this rare gem, open dude, willing to answer questions. It should have been longer, with way better questions being asked. And allow him to delve, instead of cut him off and ask another question right as its getting good.
And plug their stuff better. I had no idea Umar teaches this stuff. It's not clear from the interview
If you're investing in stocks, going in blind is a gamble.
If we're talking about real gambling, going in blind is a MAJOR risk factor... but after understanding the combinatorics, strategies, and tricks of the trade, you can figure out what game is worth your time and how often should play your hand.
Of course, you can't always beat natural disasters or a little bit of luck (that x% chance of somehow losing), but the fun is in succeeding after successive attempts.
A really disappointing interview.
Umar was fine and answered what was given but the interviewer asked some poor questions and failed to follow up on some interesting points Umar was making As an example, he didn't ask Umar what his specific trading methodology was. I still don't know having watched it. You can tell the interviewer does not have any form of trading background. He also lacked any sort of enthusiasm.
The only insights I got were due to Umar's answers.
If the value of its currency hold declines below the floor, the holding is liquidated to ensure that the business doesn’t lose value. I am with Bprimes and using stop loss order to protect my money. A stop loss order protects the value of a business’s currency holding by establishing a floor on an acceptable exchange rate. This floor represents the maximum the business is prepared to lose on the currency trade.
I lost a lot when i tried investing myself. Maybe i wasn't smart enough but what worked for me was to allow a pro trade and i get a great percentage of profits weekly/monthly. Best decision i took all thanks to Shelby Alvani
The stock market crashes every 9-12 years. That's why he is saying its extended. The last three stock market crashes happened in 1987, 1999-2000, and 2008. it happens almost every ten years now a days.
No secret. Just wait for another Great Recession, buy 52 week low never higher, wait 5 years or until you double or triple and sell. Not rocket science. Now repeat. Good Luck if you believed him or me you will need it. 😜
I've actively traded for years. If you've traded for years then you know this guy is a real trader. He says things that only real traders will experience. He may lose all the money he talks about, but I HIGHLY doubt it. He is very wise. Coming back to this video and seeing he called the crash that we have just experienced is proof. Great Call. (at the time this video was posted Aug 2018 DOW Jones was 26,000, it crashed to 21,700 in late December and DOW posted a 1000 point intraday drop in that time frame) keep investing Umar!
Trading binary options changed my life, are there traders here, do you want to be financially elevated contact Mr Greg Only serious traders, he will help you. feel free to contact him on his [email protected] com
To be honest anyone, almost anyone could have made money in stocks over the past 8 years,the government ballooned the market up,and people pumped up gold after the recession,low interest rates fueled corporate growth and low fuel costs keeps it going..try making money in a year.
Another great video, you always make it so simple. You've motivated me to start my own YouTube channel about my Stock Trading Journey, new videos posted daily. Please check it out guys, would love your feedback and support!
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.