I was recently talking to an old friend a few weeks back. Anywho, I’ll give the background. He was my bestfriend during elementary school and we didn’t keep in touch afterwards, just Facebook from his college years. So he basically had/has no idea of my current lifestyle. Right now he’s in a top medical school and wants to be a heart surgeon. Anywho, I told him I was a currency trader. The first thing he asked me was… “Can you make enough money from that to not work another job?” I found that to be a really ridiculous statement. By the time he’s a practicing heart surgeon, I’ll be making over 10,000+ times him.
In my opinion the profit potential for a single trader can go above $100B a year. There are at least 500 traders richer than Bill Gates. There are at least 300 traders that make at least $10B a year. The thing is, most people don’t seem to understand or comprehend the potential of trading. There are several reasons for this. For one thing, the 500 richest people off trading all keep their wealth a secret. They don’t hold their money in public assets that can be verified by Bloomberg and Forbes. People are very misled about the real net worth of the best traders out there. They think of George Soros and Buffet as being the top, but there are actually many more richer and better traders than them that keep their wealth a secret.
I find trading to be the most underestimated skill in the public. Not many people understand compounding interest. I find like 99% of the people in the public fall in this category. They all think linearly. You make $200K this year, next year you make a little more like $210K. Not many people seem to realize that you can turn $1,000 into $8.6T compounding at 10% monthly over 20 years. Anywho, I have been calculating compounding interest since the age of 9. I remember one day I woke up when I was 9 and decided to compute how long it would take to turn $1M into $1T at 30% interest yearly. I used a calculator and put down all the numbers, year by year in the notebook. I was amazed at how quickly you could get to a trillion. I told myself someday I’ll do it. Now I’m more sure than ever in my life that I’m going to be the world’s first trillionaire.
Another huge reason why trading is underestimated is because 99% of people who get into trading don’t get anywhere with it. Finding a highly successful trader is far more rare than finding an attorney or doctor. People just think of all the people they know who tried trading and didn’t get anywhere. For some reason a lot of people get the idea that people go into trading because they fail at everything else. Thats far from the case. I think trading is the hardest skill out there. Not many people appreciate the skill it takes to achieve above market returns. Its the most competitive game in the world.
Anyways, to sum it up. Trading is the number one skill by a far margin. No other career comes anywhere close to it. Programming, medicine and law don’t come anywhere close. I’ve recently seen a lot of buzz going around about how programming is the number one skill. Lol, what BS.