Achieve Financial Independence at all costs

[trader1913Participant 1577]

My first red-pill book, ‘The Pook and the Mill’, taught me an important lesson about freedom. In the book, the author talks about ‘The Way’ which is a predetermined path in life that has been set-up for men; go to university; get a 9-5 job; get married; buy a house; have 2 kids; climb the corporate ladder; raise your kids to do the same as you; retire at 65 and live off your pension.

I accepted that I must avoid ‘The Way’ at all costs; because it is a life of servitude and humiliation. And through much introspection I found it clear that avoiding ‘The Way’ required financial independence. Live in the woods, have several passive income streams, run your own business, invest in the stock market, there are many ways to gain financial independence. But, whatever you do achieve financial independence at all costs.

When I first started moving towards financial independence I did not really know what it was in concrete terms. However, thanks to my progress in trading the markets I came to know. I can pay the bills in a few hours of work, I can choose my own working hours, I am my own boss, I don’t have to deal with c~~~ co-workers (no drama, no false accusations, no freeloading), I am not a wage slave I am a FREE MAN.

I know many on here are normal men with normal jobs, but I cannot overstate the power of financial independence. When I worked in a 9-5 job I could feel my male spirit being eroded away. Any ounce of fulfilment, creativity, self-worth would be gone if I worked there long term. Learning to trade the markets felt like discovering MGTOW again for the first time; it took a lot of hardships and de-programming but it lifted a huge weight off my shoulders.

[It’sallbsParticipant]

This sounds very much tome like you are trying to draw people in to then sell them a bit coin of forex trading platform.

Are you an affiliate marketer?

http://www.leavemeansleave.eu

[trader1913Participant 1577]

It’sallbs wrote:

This sounds very much tome like you are trying to draw people in to then sell them a bit coin of forex trading platform.

Are you an affiliate marketer?

Haha, no my friend I am just another MGTOW. There are many ways to gain financial freedom. Besides I don’t even trade in the forex markets!

Financial independence helps tremendously with ghosting. I make money in the markets by riding market movements, I am part of the crowd. Some people make their money doing odd-jobs in self employment, others run their own business.

I try to minimize the c~~~-impact on my livelihood; MGTOW is very important for survival in this hostile environment for men.

[UnbelievableyetnotParticipant 512]

[Anonymous 1]

OP – could you recommend any books or documentation that would be useful for someone to get into trading?

Did you always trade independently?

Or any advice you could offer for someone looking to get into trading (someone being me)

Much appreciated.

[trader1913Participant 1577]

Anonymous wrote:

OP – could you recommend any books or documentation that would be useful for someone to get into trading?

Did you always trade independently?

Or any advice you could offer for someone looking to get into trading (someone being me)

Much appreciated.

I’m going to give you a beginner’s guide to day trading.

1) How much money do you need?

Don’t pay attention to those stories of starting with $1000 and turning it into $1 million. You need a huge amount of luck to do that. If you want to make day trading your full time income then you’ll need $10,000+ to open an account at a good broker, you can also day trade part-time if that’s what you want. Ideally you want $25,000+ because US law puts restrictions on your trading unless you have that much, but its not the end of the world if you don’t. You’ll also want to be able to support yourself for at least 1 year with no trading profits, either through savings or making money in an unconventional way, you WILL lose money when you first start trading. Part-time day trading is good in this respect; you don’t have any pressure to make money because you have other sources of income ie. freelance, personal business etc.

Start small ie. $500-1000 and build up, assuming you use the full $10,000 you can make 5-10% a few times a week and more than that once or twice a month. Obviously you won’t make money with every trade but you should be able to get a living wage + a bit of saving from that. If you have more money and/or are a quick learner then you can make more than most professionals quite quickly.

2) What do you need to know?

Trading is 10% analysis and 90% psychology. Learn basic technical and fundamental analysis and youll have enough know-how to become a millionaire in the markets. I am a very technical trader and use fundamental analysis as a cherry on top rather than the main-course. Some people do the opposite it depends on you.

https://www.amazon.com/Technical-Analysis-Dummies-Barbara-Rockefeller/dp/0764540440/ref=sr_1_3?ie=UTF8&qid=1486936653&sr=8-3&keywords=technical+analysis+for+dummies

The first 180 pages of that book should be sufficient for technical analysis. Im not sure if there is an equivalent for fundamental analysis because I don’t use much fundamental analysis but there probably is. Once you’ve got to grips with basic analysis most of your learning will come from trading the markets.

3) How do you know which stocks to trade?

Trading stocks like GOOG and AAPL are a waste of time because they are not volatile. Look up those tickers on Yahoo Finance and you’ll see that the price and volume traded on these stocks is very static. Compare those charts to a stock like BNTC (something I’ve made money on recently) and you will see a clear difference. More importantly stocks like GOOG are what big hedge funds on Wall Street trade, they have billions of $$$ versus your small amount of money, they will almost always beat you. You find stocks by creating watchlists, all the stocks on my watchlist have recently had an explosion in price and volume. I use Yahoo Finance and a market scanner provided by my broker to find these stocks.

Over time you’ll get a feel for what stocks to trade and not to trade. This is very important as a day trader because day trading is about finding an edge. You want to trade the markets as a reflex so it’s important to find a specialty within the stock market. I see many stocks I can trade everyday but only a few make it onto my watchlist; they are the stocks which are part of my specialty; where I have an edge over other people investing in those stocks.

Obviously there is a lot more to trading than the above, but this is a good introduction. If you wanna take trading seriously then I’ll be happy to answer any questions you have.

[Anonymous 1]

@trader1913. Thank you for taking the time to come back to me with that response. I’ve read your reply a few times and I’m sure it will take a few more to take in and act on it.

I have a decent amount of capital but do realise it’s going to be a bumpy ride to begin with and I know I won’t be uprooting any tree’s early doors.

Cheers for the amazon link, I’ll have a look. I can see this must take a lot of discipline and patience.

Can’t be for everybody.

+1

[trader1913Participant 1577]

Anonymous wrote:

Thank you for taking the time to come back to me with that response. I’ve read your reply a few times and I’m sure it will take a few more to take in and act on it.

I have a decent amount of capital but do realise it’s going to be a bumpy ride to begin with and I know I won’t be uprooting any tree’s early doors.

Cheers for the amazon link, I’ll have a look. I can see this must take a lot of discipline and patience.

Can’t be for everybody.

+1

No problem. My favourite book on trading is ‘reminiscence of a stock operator’. Once or twice a month when I have a trade that makes me big $$$ i read that book to remind myself of my trading rules, I usually get through about 100 pages every time but its such a good book that I can read it over and over again. You can get a PDF copy online with some searching.

Also, you can follow @modern_rock and @mrockrulez on twitter. He’ll teach you a huge amount about trading. Much more than ‘GURUs’ that charge you huge amounts of money to tell you simple things.

[Anonymous 1]

trader1913 wrote:

No problem. My favourite book on trading is ‘reminiscence of a stock operator’. Once or twice a month when I have a trade that makes me big $$$ i read that book to remind myself of my trading rules, I usually get through about 100 pages every time but its such a good book that I can read it over and over again. You can get a PDF copy online with some searching.

Also, you can follow @modern_rock and @mrockrulez on twitter. He’ll teach you a huge amount about trading. Much more than ‘GURUs’ that charge you huge amounts of money to tell you simple things.

I’ll check this out too. Priceless to get no BS advice.

Thanks again.

[It’sallbsParticipant]

Remember Joller you will be up against bankers, city types and a whole load of sharks and you can end up owing considerably more than you put in.

I would advise extreme causion.

http://www.leavemeansleave.eu

[Anonymous 1]

It’sallbs wrote:

against bankers, city types and a whole load of sharks and you can end up owing considerably more than you put in.

I would only invest what I could afford to lose, nothing more and I’m not looking for some fortune teller to tell me they have a sure thing. Thanks for the heads up though.

trader1913 wrote:

Trading is 10% analysis and 90% psychology

Trader – would you mind elaborating on what you meant by pyschology in this context?

Also, do you ever pay subscriptions to sites offering tips? I’m guessing you don’t and from what I’ve gathered this isn’t a strategy for success.

[trader1913Participant 1577]

Anonymous wrote:

Trader – would you mind elaborating on what you meant by pyschology in this context?

You will understand more about psychology once you start trading the markets but ill try my best to explain it. Trading psychology is about controlling your emotions, when you first start trading you will experience a set of emotions before, during and after a trade.

Before a trade you will either feel anxious or excited, human emotion is very sporadic so you can feel anxious or excited in similar situations because of what happened earlier that day. When you feel excited you will find yourself thinking very brashly and without detail. When you feel anxious you will find yourself over-thinking and without any confidence. You want to achieve a mental state in the middle of these two before a trade, the best way to do this is to write down a PLAN before a trade of what you want to do (risk, reward, time-frame etc.).

During a trade you will almost always feel fear; you will go through a million what-if scenarios and every minute will feel like an hour. What will often happen is that you will exit the trade far too quickly because of this fear. There are two ways to solve this fear; first is to gain more experience in the markets; second is to take profits along the way. Instead of selling all your shares at $5, sell 1/3 of your shares at $4.50, another 1/3 at $4.75 and the final 1/3 at $5. Taking profits when the trade is going in your favour will allow you to follow your PLAN much better.

After your trade you’ll feel one of two emotions. If the trade went well you’ll feel like you do after a really good nut (I’m not sure which is better a good orgasm or a good trade, maybe that means I’m addicted to trading haha). And you’ll try to one-up your good trade the next time you trade. If the trade went badly you’ll start to question every part of your own existence, you’ll probably want to quit but if you persevere you’ll understand that losses are a part of trading. The emotions you experience after a trade are probably the toughest to manage, it’s something only the person feeling the emotions can solve.

I just remembered that investopedia have a fantastic simulator where you can set-up up a fake account and trade on a 15-minute delay system. It won’t replace trading in the markets but it can definitely save you some money by making mistakes in a simulator.

http://www.investopedia.com/simulator/

Anonymous wrote:

Also, do you ever pay subscriptions to sites offering tips? I’m guessing you don’t and from what I’ve gathered this isn’t a strategy for success.

NEVER EVER pay for subscription services. 99% of them are pyramid schemes.

If you have skype (you can make a throwaway account in a few minutes) then you an add me on skype and throw as many question as you want in private. It’s a lot more convenient than the forum as well.

[Anonymous 1]

Ok that’s given me more an understanding of the pyschology involved and also why you recommended ‘reminiscence of a stock operator’ – I started reading that at work and have to say it’s been an enjoyable read so far and a bit of a page turner which I didn’t expect. I also ordered your other recommendation off Amazon – 2nd hand for £2, can’t argue with that.

I’ll check investopedia – looks like a decent way of getting to grips with trading, but I imagine the learning curve doesn’t really begin until you’re trading with real capital.

trader1913 wrote:

NEVER EVER pay for subscription services. 99% of them are pyramid schemes.

Noted. I only ask because another trader on MGTOW mentioned a site called ‘Motley Fool’ which offers yearly subscriptions for trading tips.

trader1913 wrote:

If you have skype (you can make a throwaway account in a few minutes) then you an add me on skype and throw as many question as you want in private. It’s a lot more convenient than the forum as well.

Thanks, I may well take you up on that. I wasn’t going to ask anymore questions on this topic – people may get the Ike if I keep bumping this topic to ask questions about day trading lol.

Thanks man.

[trader1913Participant 1577]

Anonymous wrote:

Thanks, I may well take you up on that. I wasn’t going to ask anymore questions on this topic – people may get the Ike if I keep bumping this topic to ask questions about day trading lol.

Thanks man.

No problem.

My skype name is Trader1913 MGTOW, i’m always looking for people with different perspectives of the market. It helps remove any bias I have.

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