Finally Joined the Forum

[Makaveli7]

Hey everyone,
The Millionaire Fastlane was one of the best business books I've read but for some reason I didn't join the online forum until now.
Here are some things about me:
- Started my own copywriting business as a 19 year old in college. (Now in my early 20's.)
- Traveled to 5 continents.
- Background in Internet Marketing, Email Marketing, Funnels, Sales and Persuasion.

The plan is to continue to live frugally in my small college town while I get enough capital for my next "big move."

I've saved up enough from my copywriting business and plan to use that money to consistently but conservatively make money on the stock market for the next 18 months or so.

(For some reason, the stock market makes sense to me, there are predictable patterns and as long as one manages risk carefully and follows a plan without getting emotional or falling into loss aversion bias, the account will grow over time.)

I chose the stock market over copywriting because it fits my ideal schedule more (9:30am-4pm Eastern Time)

The dream is to smoke fat cigars, drink good whiskey and drive a Rolls Royce Wraith painted red and black.

For now, I am going to live frugally, train Brazilian jiu jitsu and MMA (I love it) and continue to grow my account in the stock market.

When the capital breaks over barrier of entry, I will enter the real estate market, maybe sunny California for something.

Glad to meet you all.

(Below a pic of my copy of the Millionaire Fastlane .)

 

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[MJ DeMarco]

Great intro, welcome aboard my friend!

 

[Everyman]

Cool notes. This is why I think paper books are better than e-versions.

For some reason, the stock market makes sense to me, there are predictable patterns and as long as one manages risk carefully and follows a plan without getting emotional or falling into loss aversion bias, the account will grow over time

Can you share, if not a secret and without any details, what your plan is (e.g. day trading etc etc etc...)?

 

[Makaveli7]

Cool notes. This is why I think paper books are better than e-versions.



Can you share, if not a secret and without any details, what your plan is (e.g. day trading etc etc etc...)?

For sure brother,
Focusing on a handful of high-percentage set-ups and managing risk to 5:1 ratio. For example, I'm willing to risk and cut loss at 1% of the portfolio's value for a potential of 5% profit. If I lose 3 trades for -3% and profit for 1 trade, I'm still up 2% from the total, as a rough example.

Most people don't follow/have a plan for managing risk so they end up losing money because they get emotional. Look up Loss Aversion Bias.

TD Ameritrade thinkorswim platform lets you trade paper money (simulated money) so you don't have to risk real money at first.

It's working out so far and if I do the same thing with real money, I will profit.

And the plan is to not stay in it for the long haul (5, 10, 20+ years), because like MJ said this is not the Fastlane.

As soon as I have my start up capital for real estate, I'm out.

Feel free to reach out if you have any other questions.

 

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