Interview with Millionairemind

Re: Interview with Millionairemind

Postby millionairemind » Sat Mar 13, 2010 7:01 pm

Cheng wrote:Going for another child soon? :lol: :lol: :lol:


Cheng bro,

We had the kid only because of my mum. Remember that's Y I asked you if you were lonely growing up as a single child. ;)

We practice China's ONE CHILD policy. :mrgreen: :mrgreen:

mm
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Interview with Millionairemind

Postby la papillion » Sat Mar 13, 2010 8:58 pm

Hey mm,

nice to learn more about you from this interview :)
An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return - Benjamin Graham
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Re: Interview with Millionairemind

Postby BlackCat » Sat Mar 13, 2010 9:54 pm

Congratulations for escaping from the rat race!
I wait until there is money lying in the corner, and all I have to do is go over there and pick it up.
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Re: Interview with Millionairemind

Postby dabback » Sun Mar 14, 2010 7:59 am

millionairemind wrote:
Cheng wrote:Going for another child soon? :lol: :lol: :lol:


We practice China's ONE CHILD policy. :mrgreen: :mrgreen:

mm


Me too!
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Re: Interview with Millionairemind

Postby millionairemind » Sun Mar 14, 2010 8:18 am

haha Dabback, join the club. :D

I think the gahmen gave up on people like us ;)

Welcome again to Investideas :D

How about an avatar?
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Interview with Millionairemind

Postby dabback » Sun Mar 14, 2010 8:33 am

millionairemind wrote:haha Dabback, join the club. :D

I think the gahmen gave up on people like us ;)

Welcome again to Investideas :D

How about an avatar?


Soon I haven't decided wat to put!
Didn't know you swim... maybe take the wifey and kiddos out swimming with clive soon? :D
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Re: Interview with Millionairemind

Postby lithium » Sun Mar 14, 2010 6:37 pm

It's encouraging to see someone can retire in his thirties! Hopefully I'm lucky enough to join you in a few year's time ;)
"Play Great Defence, not Great Offence "
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Re: Interview with Millionairemind

Postby millionairemind » Sun Mar 14, 2010 7:19 pm

lithium wrote:It's encouraging to see someone can retire in his thirties! Hopefully I'm lucky enough to join you in a few year's time ;)


You see me too up liao, Lithium bro.

I am not really "retired" :D

Just embarking on another path that provides me a commodity that money cannot buy - TIME. ;)
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Interview with Millionairemind

Postby lithium » Sun Mar 14, 2010 8:50 pm

HAHA MM, then you should be a super trader! Who can consistently earn a living by trading!

May I ask what is a good expectation of return % per annum from trading? I'm trying to figure out how much capital is needed be a full time trader. ;)
"Play Great Defence, not Great Offence "
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Re: Interview with Millionairemind

Postby millionairemind » Sun Mar 14, 2010 9:16 pm

L bro - I have made so many stupid mistakes, you will laugh when you learn of them. :D

I can't really say for certain the %tage return one can expect consistently. There are good years and so-so years.

As for the amount of money to REALLY start, I guess one has to have enough money set aside for a couple of years of living expenses and then you can use the rest for trading.

One good year can really wash out all the bad years and allow you to make several years of living expense. ;)

The most important is to always cut losses short. Avoiding a major bear market like 2008 with your capital intact is already half the battle won.

If you need $100K to live on yearly, then you better have at least $1MM before you contemplate trading.

If you need only $40K to live on, perhaps you can start considering when you have $500K.

Paiseh, all I am trying to say after all these words is it depends ;)
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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