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hi how can i become a millionare like alwaleed bin talal...??
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Nirmala | Is it a myth that average people can become milionaires by buying and selling shares ? |
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Nathan
 |
My answer to this question is mostly yes. This question has sort of a catch 22 element to it. If you are making millions, you are no longer average because average investors make average returns. In the semantic sense, there are no average investors making millions, only above average investors do that.
If you consider someone who buys a lottery ticket for a dollar and then win's $200 million a successful investor, then no, I suppose it is possible for the average investor to become a millionaire. For example, during certain market conditions, such as the late dot com bubble, there were many anecdotes of average investors making fortunes (and later losing them). Even if you had no idea what you were doing, and invested a substantial sum of money in any number of dot com stocks you could have made huge very huge returns. |
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IncomeInvestor
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Hi, Nirmala,
Yes, it's a myth. It's possible -- but it's NOT "average."
Studies of brokerage customer accounts show that customers who trade stocks the most often, show the most decline in their account values.
However, it's only HALF a myth!
What do I mean by that?
Many "average" people have become millionaires by buying -- and holding NOT selling -- stock.
The earlier you start, the better.
The more stocks you buy, the better.
Take advantage of retirement accounts.
Invest for dividends -- and reinvest the dividends. 97% of the historical advantage of stocks over other types of investments has come from reinvesting dividends, not from waiting for "growth" stocks to grow. |
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A nobody
 |
No myth, it's reality,
Like anything else, if you work hard and learn all you can about securities, the markets, the rules, the fundamentals and technical aspects of securities you can do it.
But before you trade, beside all this knowledge you'll need to have your own trading rules and guidelines, you need to understand money management and most importantly you need discipline.
I was fortunate enough to learn the basics of trading/investing while in elementary school, so that by the time I entered college, I had sufficient income, a good knowledge of finance, economics and accounting.
In America, everything and anything is possible, you just need to want it bad enough and be willing to work at it yourself. |
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Max Power
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Not a myth but neither is the fact that you can loose a lot of money to , buying stock in the hope its prise will rise is a gamble some you win some you loose , |
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src50
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Yes. |
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raysor
 |
Yes of course! |
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Rafaman
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It is possible, but unlikely.
You would have to be very, very good at following market trends and predicting which shares are likely to rise and fall, or you would have to be very, very lucky.
In order to make millions you would have to invest substantial amounts, which for an average person would mean all your savings and maybe a second mortgage. And you would have to keep buying and selling different shares to maintain a consistently high returns on your investments, rather than buying a whole lot of something secure but slow to increase in value (big companies like microsoft).
Having invested everything you own in risky ventures, if your shares then went down rather than up in value (fairly likely for an inexperienced person juggling lots of shares) you would be absolutely shafted. |
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kaligirl...xxx
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yes, of course this is possible... many people do this, well not many. but many do this inhoes of becoming rich. it all depends on the way you invest and the how much luck you have really. But yes it is possible. |
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ivor Biggen
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A myth I think not.
I have now generated £6 trillion in the last week.
Unfortunately my mother woke me up and now I'm penniless again. |
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Neil B
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it is very true. |
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Mingeth
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Yeah sure...put everything you've got on Northern Rock...what you gonna spend your first million on? |
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Aaron
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I was going to answer this question with something pithy, a simple, "no, it's not a myth."
But after reading 'A nobody's' answer and realizing it was everything I wanted to say, what was the point?
Best answer here. Choose it. |
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love u
 |
what shares are these,?? |
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.
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this is insider information and im not willing to 'share' I.T. with you, sorry.... |
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Sahara
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Yes. Investing is tough. You need to understand the market and how it works. It's not easy or quick. |
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Matt G
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Well...I started trading in the markets when I was 18 and am now 22 and retired. So...maybe it's possible:)
Learn technical analysis and trading psychology. Anything is possible if you believe it is.
If you believe it is a myth that people make a lot of money in the markets, look at the price action today and tell me if you think money can be made. |
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