blackcat, thanks for sharing your life story. And you probably could write a book in a few years 
-awais
-awais
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College student looking for advice
- Thread starter TNH
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steveny said:
Well, I can't argue with compound interest. What i can argue with is that the VAST VAST VAST majority of college grads make a SIGNIFICANTLY increased yearly salary vs. a high school grad. And by significant, i mean avg high school grad makes lets say 30-35k a yr somewhere(a guess), vs. college grads usually START at 30-35k a yearand proceed to upwards of 40-60k.. no, i don't have any hard numbers, but every time the newspaper has some bar graph it shows a huge disparity in college grad vs. high school grad earning potential....you might say big deal, 35k vs. 40k, but that's 15-20% more..and anyone making 35k a year will tell you, 5k is a LOT of money.. so i think 4 yrs of no money vs. 4 years of making 8-12 bucks an hour isn't that biggadeal in the long run...
Here is the deal on me. I got out of high school in 1995, when to work for Digital in IT, then HP, Compaq, Back to HP, CNN Center, BellSouth, Arthritis Foundation, Mirant, and now currently a Bank. Grass is always greener on the other side right? Here is what I have learned for ME anyway. A job is just that a job, before I left Arthritis Foundation I started thinking about the stock market a little before 1999 I did not know what a "Dow" was lol. Then I went to NSXPo 1999 here in Atlanta, I talked to a person by the name of Derek Lenerd, he day traded and was good at what he did. I though it was a great idea because at the time I was working as well as starting my IT company. The company went good but I do not like to hire / fire / get on people's ass it's just not me. Well he lived about 150 miles from me so I got canned from Arthritis Foundation and said what the hell and ran my business and drove up to SC a few times a week. Well Derek was a good trader I though hell he made over 8 million in 3 years, had a Panos racecar, NSX like mine, and a VERY nice house. Well come to find out he started loosing money, then he started forging stock certs and selling them, next thing I know he was in Club fed and gone for a LONG time. Well I was crushed because I lost my mentor. Well the next job Mirant, I am working in IT still and killed the IT company and started trading again, I was loosing all I could put into the market every extra $ went to the market and I lost it all, I spent all my time and NONE with my wife. Then I find someone who trades futures on the Internet. I showed him some of my work and he said he would help me but don't tell ANYONE what he is going to show me. I said okay, well the next 6 months I work my ASS off over 1,000 e-mail and 100's of phone calls about trading the e-mini. The strategy was easy the hard part was getting the feel. After about 6 months of treading water I started to make money, I was SO damn excited I showed everyone at work I was making money, the said if I trade anymore I am gone. They were fine when I was loosing but people don't like to see other do well. I ended up getting a severance package from Mirant and traded 9 months making VERY good money I wanted a house but they would not give me a loan unless I had a job. I could buy the house in cash but did not want to do that I was looking to better my credit. Now I work because it get's me out of the house and I still love IT, Oh I also gained about 80 pounds sitting at home and would not leave the house for weeks and to me when I am at home and work at home it seems I am always at work. Anyway I now trade 20 es contracts and make over 700k a year, best year was right at 1 mill. Taxes suck. Last thing I drive a 28k Evo, and live in an 112k Town Home that is worth 149k, wife is going to be a doctor and in med school. I do not wish to keep up with the Jones's I like my money stacked high
peiserg said:
I guess it is a problem with my perception. For some reason I can not see spending all that money on a degree just to get a an average job. If I were to spend 50-100K on an education it better get me a job paying at least 200K to start with a huge sign on bonus so I could catch up on savings that had to be put on hold while I was getting the degree.
From Money magazine Feb. 2004 page 7:
Hypothetical example for illustrative purposes only and doesn't represent the performance of any security. Assumes annual $3,000 contributions made on January 1, each year beginning at the age of 20 through age 70. Missing an annual $3,000 contribution at age 20 and beginning at age 21 results in $151,962 less at age 70. Assumes annual rate of return of 8%. Assumes annual tax-deferred compounding in an IRA. Final account balances are prior to any distribution, and taxes may be due upon distribution.
I came from very humble beginnings. Growing up we did not have anything. No phone, hot water, car, refrigerator, sometimes no electricity. Using my head and my hands by the time I was 24 years old I was running a 7 million dollar business with no degree. I started this business by picking up dog crap at local rental properties when I was 14 years old. When other kids my age were playing soft ball I was planning my future.
My girlfriend is 24, just graduated with a degree in speech pathology. She owes 40K in student loans. Around here she will start off at 30-35K and continue to make the same until she gets her masters degree which will cost another 30K.
I am by no means saying that an education should be passed up. As a matter of fact one of the reasons I worked so hard is because I wanted to help pay for my sister's education.
You're such a pimpPsycnosis said:Anyway I now trade 20 es contracts and make over 700k a year, best year was right at 1 mill. Taxes suck. Last thing I drive a 28k Evo, and live in an 112k Town Home that is worth 149k, wife is going to be a doctor and in med school. I do not wish to keep up with the Jones's I like my money stacked high
-awais
I think you should me my MENTOR!Psycnosis said:lol thanks man! Today was KICK ass 2 good trades, short @ 10 and long and short again
-awais
Maybe down the road, let me finish 1st Also if you did not get that 1147 short you were sleeping right at 12:30, also look at 1143 nice support to get long off of. I am going to say this I have had over 40 trades without a looser it's in the feel man.
Also if you did not get that 1147 short you were sleeping right at 12:30, also look at 1143 nice support to get long off of. I am going to say this I have had over 40 trades without a looser it's in the feel man.O-Ace said:I think you should me my MENTOR!
-awais
Want me to call you?Psycnosis said:Maybe down the road, let me finish 1st
Btw, I slept in and didn't trade at all today. Had too much work to do last night and today.-awais
No calling to it man, Just get a feel for the market and run with it. In all honesty some of the stuff I call I am right about 80% or better also I no longer use the Pivots they just screw with me and have been offered to run multi million $ hedge funds, but they can stick it and do there own damn work. In the market there are givers and takers or knowledge what are you? The reason I got the mentor I have is because I look at things at a different angle, you know the Bill Williams books I talked about reading? I use them 100% opposite of what he does, sounds funny right but it works. Find what works for you and use it over and over and over until there is no excitement left then you can have as much money as you want. *I* feel there is no need for anything over 100k a year for the life I live, the reason I do this is just so I can quit anytime and if I need it if someone in my family gets sick or needs money or something. You’re a smart guy work you ASS off I did for 3 years. One last thing, not everyone in the market can make money, I have known people that know WAY more then me and they just can NOT pull the trigger on the trade and lose everyone....
O-Ace said:Want me to call you?
-awais
Guess I'll have to learn without a Mentor
where is the ending or does it still on-going? okay, where do i sign up?
Psycnosis said:Here is the deal on me. I got out of high school in 1995, when to work for Digital in IT, then HP, Compaq, Back to HP, CNN Center, BellSouth, Arthritis Foundation, Mirant, and now currently a Bank. Grass is always greener on the other side right? Here is what I have learned for ME anyway. A job is just that a job, before I left Arthritis Foundation I started thinking about the stock market a little before 1999 I did not know what a "Dow" was lol. Then I went to NSXPo 1999 here in Atlanta, I talked to a person by the name of Derek Lenerd, he day traded and was good at what he did. I though it was a great idea because at the time I was working as well as starting my IT company. The company went good but I do not like to hire / fire / get on people's ass it's just not me. Well he lived about 150 miles from me so I got canned from Arthritis Foundation and said what the hell and ran my business and drove up to SC a few times a week. Well Derek was a good trader I though hell he made over 8 million in 3 years, had a Panos racecar, NSX like mine, and a VERY nice house. Well come to find out he started loosing money, then he started forging stock certs and selling them, next thing I know he was in Club fed and gone for a LONG time. Well I was crushed because I lost my mentor. Well the next job Mirant, I am working in IT still and killed the IT company and started trading again, I was loosing all I could put into the market every extra $ went to the market and I lost it all, I spent all my time and NONE with my wife. Then I find someone who trades futures on the Internet. I showed him some of my work and he said he would help me but don't tell ANYONE what he is going to show me. I said okay, well the next 6 months I work my ASS off over 1,000 e-mail and 100's of phone calls about trading the e-mini. The strategy was easy the hard part was getting the feel. After about 6 months of treading water I started to make money, I was SO damn excited I showed everyone at work I was making money, the said if I trade anymore I am gone. They were fine when I was loosing but people don't like to see other do well. I ended up getting a severance package from Mirant and traded 9 months making VERY good money I wanted a house but they would not give me a loan unless I had a job. I could buy the house in cash but did not want to do that I was looking to better my credit. Now I work because it get's me out of the house and I still love IT, Oh I also gained about 80 pounds sitting at home and would not leave the house for weeks and to me when I am at home and work at home it seems I am always at work. Anyway I now trade 20 es contracts and make over 700k a year, best year was right at 1 mill. Taxes suck. Last thing I drive a 28k Evo, and live in an 112k Town Home that is worth 149k, wife is going to be a doctor and in med school. I do not wish to keep up with the Jones's I like my money stacked high
www.avidtrader.com it's slow at night, join the free chart.
He's MIA. Haven't talked to him in a month or so. He rocks tho! On good days, banks $40-50K+Psycnosis said:
-awais
Lets not go therePsycnosis said:What about on bad days
-awais
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