One good trade
A couple of days ago I came to a very interesting thought: in order to achieve success and fame in the markets - you need to make only one good trade.
Of course, if you trade one S&P500 futures and stare at level2 all day long looking for a profitable pattern, you won't become famous. Even if you make 100 successful trades.
I'm talking about big trades that stay in history forever.
- Michael Bury and his prediction of the 2008 mortgage crisis;
- DeepFuckinValue and his GameStop stock options last year;
- Jesse Livermore and the crash of 1929.
The first was featured in the movie 'The Big Short'; the second became a Reddit superstar with several million followers; the third went down in history, lost all his money, wrote a book, and died in poverty.
But what if you take not one good trade, but one incredibly profitable year?
Larry Williams takes the stage. For many, he has become a real idol of trading. In 1987, he turned $10,000 into 1.1M. Wow, a fuckin genius!
After such a successful year, Williams wrote a book about his successes, shared a "secret" strategy and earned millions of dollars more from its sales. Pure genius.
But has anyone ever wondered: what happened next? A million turned into 10, 10 into 100, and then a billion?
Larry Williams lost his earned million the very next year because his "strategy" stopped making a profit. But no one cares about that - books are being sold.
Everyone has heard about the book by Larry Williams, but few people have heard about the book by William Gallagher calls 'Winner Take All', which reveals his "success". You definitely should read it.
And there, the scheme for obtaining this result is laid out very clearly. In short, at that time during the day, the exchange recorded all transactions to the broker's account. And after the close of trading, transactions were linked to specific clients. Larry played with two hands - for himself and the investment fund. This way he could make deals all day, and then at the end of the day choose which ones to keep for himself.
Moving on:
In 2003, Andrew Hall was nicknamed the "oil god". Thanks to his successful deal, CityGroup earned $100 million. An attempt to repeat the success by predicting the growth of oil prices in 2017 led to serious losses. Andrew Hall sold his hedge fund and went out of business.
Jim Chanos is the president of the large hedge fund Kynikos Associates, who gained fame after predicting the collapse of the Enron corporation in 2001.
Louise Bacon is a geopolitical player who was able to foresee in 1990 that Saddam Hussein would invade Kuwait. Bacon bought oil, shorted stocks and helped make his new hedge fund 86% that year.
And hundreds more similar stories.
All these stories have one thing in common — you just need to make one super-profitable deal to provide for yourself for the rest of your life. Someone has enough earnings, someone writes a book where they share secret checklists for achieving success, someone starts traveling around the world with seminars.
Therefore, you have three options to get rich in the financial markets:
- Work hard on your trading, increase capital and get investors;
- Put everything you have on the line, and if everything's fine, start monetizing your iron balls;
- Become an impressive telegram guru and earn millions without trading on the markets.
GL.
Of course, if you trade one S&P500 futures and stare at level2 all day long looking for a profitable pattern, you won't become famous. Even if you make 100 successful trades.
I'm talking about big trades that stay in history forever.
- Michael Bury and his prediction of the 2008 mortgage crisis;
- DeepFuckinValue and his GameStop stock options last year;
- Jesse Livermore and the crash of 1929.
The first was featured in the movie 'The Big Short'; the second became a Reddit superstar with several million followers; the third went down in history, lost all his money, wrote a book, and died in poverty.
But what if you take not one good trade, but one incredibly profitable year?
Larry Williams takes the stage. For many, he has become a real idol of trading. In 1987, he turned $10,000 into 1.1M. Wow, a fuckin genius!
After such a successful year, Williams wrote a book about his successes, shared a "secret" strategy and earned millions of dollars more from its sales. Pure genius.
But has anyone ever wondered: what happened next? A million turned into 10, 10 into 100, and then a billion?
Larry Williams lost his earned million the very next year because his "strategy" stopped making a profit. But no one cares about that - books are being sold.
Everyone has heard about the book by Larry Williams, but few people have heard about the book by William Gallagher calls 'Winner Take All', which reveals his "success". You definitely should read it.
And there, the scheme for obtaining this result is laid out very clearly. In short, at that time during the day, the exchange recorded all transactions to the broker's account. And after the close of trading, transactions were linked to specific clients. Larry played with two hands - for himself and the investment fund. This way he could make deals all day, and then at the end of the day choose which ones to keep for himself.
Moving on:
In 2003, Andrew Hall was nicknamed the "oil god". Thanks to his successful deal, CityGroup earned $100 million. An attempt to repeat the success by predicting the growth of oil prices in 2017 led to serious losses. Andrew Hall sold his hedge fund and went out of business.
Jim Chanos is the president of the large hedge fund Kynikos Associates, who gained fame after predicting the collapse of the Enron corporation in 2001.
Louise Bacon is a geopolitical player who was able to foresee in 1990 that Saddam Hussein would invade Kuwait. Bacon bought oil, shorted stocks and helped make his new hedge fund 86% that year.
And hundreds more similar stories.
All these stories have one thing in common — you just need to make one super-profitable deal to provide for yourself for the rest of your life. Someone has enough earnings, someone writes a book where they share secret checklists for achieving success, someone starts traveling around the world with seminars.
Therefore, you have three options to get rich in the financial markets:
- Work hard on your trading, increase capital and get investors;
- Put everything you have on the line, and if everything's fine, start monetizing your iron balls;
- Become an impressive telegram guru and earn millions without trading on the markets.
GL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.