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Chatting with a 23-year-old Stock Trading Millionaire interview
"A stock trader or equity trader or share trader is a person or company involved in trading equity securities. Stock traders may be an agent, hedger, arbitrageur, speculator, stockbroker. Such equity trading in large publicly traded companies may be through one of the major stock exchanges, such as the New York Stock Exchange or the London Stock Exchange, which serve as managed auctions for stock trades. Stock shares in smaller public companies are bought and sold in over-the-counter (OTC) markets." - wikipedia
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To answer some of the questions people have:
1) How'd I have 20K saved up at 18?
I Bought and resold items off craigslist, primarily iphones. Worked two jobs and I was very smart with my money and frugal and barely had any expenses at the time.
2) How'd I have such a high credit card limit?
I opened a capital one credit card at the age of 18 and used it every month and after 6 months, I requested a credit limit increase and then opened a discover account and used it every month. (Many people here need to educate themselves on credit cards and how to get a higher credit limit and ways around it)
3) "Never take a cash advance and start trading. Worst trading advice"
First i didnt do a Cash Advance, I did a BALANCE TRANSFER with a 3% fee for 18 months. Basically, you pay 3% on the money you take as a one-time fee and don't get charged interest for 18 months. (look it up). Yes, I know what I did was risky, but at the end of the day, you need to take risks to get forward in life and from what I see most people here look at risk at a terrible thing. I believed in my trading strategy and it was working so I needed more funds to get over the PDT rule (need 25k+ in your brokerage). I took the risks I was comfortable with taking and worked out, no one needs to take the same risks.
4) "Trading is gambling"
Trading in fact isn't gambling. You need to learn how to read price action and purchase stock whenever theres a lower risk and high profitability in play. For people that know trading understand, for the ones that dont, theres things called Moving Averages. MACD, RSI, Trends, Support, Resistance and so much more that help you align your trades.
5) I post all my trades on my IG story (IG: umarashraf) including losses and show transparency.
6) I never said I took my total brokerage account from 25K to a million. As I got better, I funded my account with more money through jobs I had and then eventually was involved in other businesses and always kept funding my account and kept living expenses to a minimum.
This is to educate people on youtube that are starting out that anything is possible. You will need to take major risks and invest TIME into whatever you may wanna do. Don't let "youtube Trolls" discourage you by showing everyone who is "successful" is either a scam, or from a rich family. People put their own insecurities on others so don't let them bring you down. Good luck to everyone trying to get ahead in life, wish you guys nothing but the best :)
Is it a good idea making stock trading friends who might help you or its all gambling and luck? Obviously anyone here won't be here in comments section or actually it's good technic of sharing intelligence to profit... Plus say I have £500 how much could I make in a month.
If there any company that want to derail the dollar I'm here to tell you let play and the dollar would make me so much money I will be rich!!!! So if there anybodi want to play I'm nerd and I dont like when someone talk out of purposion....like they say save some cash and I ask what cash!!! ($)->dolllar.
This comment section is retarded. It's called 'chatting' for a reason and by the host asking basic questions it allows the average viewer to grasp what Umar is trying to say. Interviewers are rarely experienced in the field they are questioning, a prime example being a news reporter. It's simply his job to ask questions that provoke a response and allow the viewer to understand the topic of conversation.
He speaks about ratios and basically explains probability and is still in denial that it isn't gambling. Sure, if you are smart and make better choices then the luck is on your side.
It is the same for the best black jack players. But we still consider black jack gambling. He needs to stop being in denial and just accept it. Stocks is risky business.
Well I finally found some one who's legit and
trustworthy got payment within an hour and
got 2BTC it's the minimum price and goes up depending on how much you want. Contact @alvinspy on
instagram, or marcelo On whatsapp via +18068280062 and via mial :
[email protected] He also
does anything type of hacks. brillant guy.
If this guy had 20,000 at that age then he comes from a wealthy family or something. Good story but I'm not impressed, we don't all have 20 grand and less at that age, people with money have it a lot easier.
Anyone who follows this guy for stock advice needs to reevaluate their life, he makes money off YOU and the braindead teen or indian subscribers buying his courses. This man knows very little about investing. A monkey shooting darts at a stock chart will beat his portfolio, and this one is most likely a paper trading one. Please be advised.
the most fugazy dude I've ever seen! the funniest thing of all though is the reporter lol. This kid has no idea that he's being fucked with the WHOLE TIME and that the reporter has not actually believed one single word he's said so far.
This guy is most likely a millionaire from starting his company called StockMarketLab, which is where he likely makes most of his money from fees he charges to teaching people how to trade.
There are tons of people like this and on their Instagram they show off their amazing life so people sign up for their program. I see his pictures flying a private jet and going jet skiing in Dubai. The paradox is that most of their money is made by selling this program. What came first, the chicken or the egg?
Alex Pena by no means, I haven’t read it so I really can’t say, but it sounds like it’s probably a good book! I just thought it was funny how the interviewee repeated himself so many times in succession
This dude had literally nothing to back up any of his points. Literally just “I feel like it’s good”. Why will the market crash? “It’s extended”. Dude is just regurgitating CNN without any personal input.
Bro it is sooooo sad seeing how many people insulting the interviewer! like HOW DUMB CAN YOU GET!!! this "Millionaire" is an absolute scam.....but honestly was impressive in all of his responses. The interviewer literally just playing dumb to see how much he'll say and know when to tell him........
Yeah watched the beginning again he started trading when he was 18 then his first year wasn't that great and that's at least after the first 6 months when he lost everything, so fast forward he's a millionaire by 2012 and then 6 years go by to August 2018 and he's still 23?
+Collin Daniel he was already a millionaire, "gold went up last year". That literally has nothing to do with the fact that he's a millionaire. He never said he became a millionaire after gold prices went up. He just said that he made a lot of money last year. He was already a millionaire AND made a lot of money last year (2017). Gold prices going up last year have nothing to do with the fact that he became a millionaire in 2012 because he never stated he became a millionaire by selling gold last year. What's so hard to comprehend for you?
The Robinhood app is great. No trading fees! Right now you can get a free stock when you sign up. I got Sprint. There's even a chance of getting Apple. Use my referral code and we will both get a free stock! @t
The Tron Roadmap.
Follow us on Twitter , Facebook , Steemit , and join our Telegram channel for the latest blockchain and cryptocurrency news.
With an already existing user base of over 180 million, the opportunities for this Blockchain and cryptocurrency seem enormous. Also, it will likely not have to bootstrap and this is a deviation from the trajectory of most apps and platforms of this nature.
An outsider continues to steal the crypto spotlight.
Investors started telling CoinDesk in late December that Telegram was looking at doing some kind of ICO.
All that on top of promising super fast payments and micropayments using mobile devices, with negligible transaction fees.
With these announcements, fake sites quickly popped up claiming to be the place to buy grams. Confirming that one was fake in a tweet proved to be the closest Durov has come to a public confirmation of the crowdsale.
By mid-month, the idea that Telegram might raise its fundraising round even higher was reported by Bloomberg.
They come up with a lockup period that releases tokens after four waiting periods, the longest one last 18 months.
Finally, Telegram has apparently offered investors some kind of refund provision if it fails to deliver the TON platform by the end of October 2019, Business Insider reported.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The filing names Ton Issuer Inc. and Telegram Group Inc. along with the two individuals, Pavel Durov and Nikolai Durov, as related persons.
Apart from building on the extensive userbase Telegram has amassed, and serving as a medium of exchange with a native cryptocurrency called GRAM, the TON platform also aims to include smart contracts and decentralized services such as TON Storage and TON Proxy.
Leverage and Margin Explained.