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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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Of course, I understand what's most important for my livelihood is to consistently upload interesting content for you that doesn't suck. It's a blessing to make videos for a living and everything you've done for me thus far, even if this is the first video of mine you've ever clicked on, (and especially if you've scrolled down this far in the description!) is much appreciated. I will always be grateful for your viewership. For these reasons, you're the goat.
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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 :)
getting good profit in future trading, you need to measure from the support line to the mid-peak or break line. Then take this measurement and repeat it up starting from the penetration level. To learn how to do this concept I recommend you use and learn Blended Model strategy by Dmitry vladislav.
I never do this. However, I feel it will help more than criticize the channel. Some of the people that your interviewing are fantastic but , your tone and delivery (in my opinion) is horrific. The unrelated questions like, have you done any “shady shit” ??giggles giggles... I’m sorry this is public. But, change your monotone delivery and the interviews will simply be amazing. Some times as I watch I ask myself dam man why does he sound so down on the video?? But I also know everyone has their own personality and perception of their own output. With this being said, this is only to help you, I hope it doesn’t come across as hatred or some negative bs. In contrast, the audio and the resolution quality is fantastic !!! For real awesome job man. Hope to see more videos soon. Happy holidays and a great new year !!!!
Unfortunately these guys got lucky a couple of times, and are selling courses now. I didn't research him, so I don't know what his situation is. But that is pretty much what most of these guys do in a nutshell.
As someone who recently graduated with a degree in finance and will be working for an IB, I can confidently say this guy has essentially no fucking idea what he’s talking about. Direct case of sheer dumb luck... do not trade on margin with his level of knowledge and for god sakes do not open up a credit line to fund your account lmfao
For best trading its take time to come with good strategy, for more info and guidance feel free to write me, and let see on how we can recover all your lost, you can write me via whatsapp +12348158423, and be careful there so many many scammers, so be very careful
ok As I am so new to the trading business. (I am researching before starting) I have to learn what is" Insider Trading, and Penny stocks". what are those and why is it bad to do? I heard that it is illegal. So I need to understand what in fact it is.
This guy is a fraud. I know people that try and day trade and they lose overall. To get from 2k to 1 million in a few years? BULL CRAP!!! This guy doesn't even sound like he knows what he's doing. I believe he has been trading but there has to be more to the story.
The fact that he could not explain why gold went up (because interest rates are rising), was a very clear indicator he is full of shit. He may have gotten lucky but he will lose it.
The only thing I agree with is an inevitable bear market in the near future.
Besides that’s, fuck this guy for faking the funk, I’ve been trading for years and nothing is that easy.
Also this interviewer is just as fucking stupid “hmm hmm hmm” doesn’t know shit.
Liked this interview really a lot! Really glad, that crypto also was mentioned! I think crypto will play a huge role in the future and I also think he is right, that bitcoin wont be the "big" one at the end. Imo Bitcore will play a huge role in the future. Great project (faster than bitcoin and lower fees) combined with a great team.
Well I had my suspicions, but it's clear he's not a successful trader, he just plugged his Instagram, he's willing to "help" with any questions, and he contacted the interviewer lol he is full of shit, trying to sell something . Asshole
this guy is really not my type but 18 minutes in and i am starting to feel attracted, he seems really humble, smart, present and down to earth which is not only rarely to see in a 23 year old dude, but especially in one with cash. thanks for the interview, i have been pretty interested in stocks and am hoping i can make some money from it by the time i'm 23
I really appreciate the answers but the questions were really bad, I mean the guy had to answer more than what was asked every single time. Next time please have someone with the knowledge of markets to do the questioning. Thanks!
I follow Umar on instagram. You can make money in the market. i literally turned $200 into $900 in less than a week. i made this money because i was on the right side of the trade at the right time. There a lot of ways to make money in the market. You have to educate yourself and learn. I don't take UMAR course but i like his posts. Current status i lost all $900. I lost becuase i wasnt educated and that first trade was out of pure luck. i am currently learning on my own, i have a couple mentors, and everyday im testing out strategies on paper trade and i will return to the market when i can get my consistency on point. which i believe is the main problem with many traders. Just my 2 cent opinion, and i believe we shouldn't bash anyone hardwork if you havent done what he/she has accomplished.
He's referring to a de-centralized currency as a whole is the way of the future; however, buying and selling bit coin currently isn't worth it. He said he dabbles in day trading, so he'll probably buy some shares when information comes out about it's potential rise.
I don't think anyone would mistake about trader & broker. Just because he is not "white" and he is so young, they think he won't be a trader. they are looking down at him. If he's mid-aged white man, no one would think he's a broker.
Although foreigners may now invest in A-shares, there is a monthly 20 percent limit on repatriation of funds to foreign countries.
Performance of A-shares.
Since its inception in 1990, including a major reform in 2002, the index has seen great fluctuations. Overall, however, it has grown along with the Chinese economy. The years 2015 to 2016 were a particularly difficult period, with a 52-week performance of -21.55 percent as of July 20, 2016.
As China grows from an emerging market to an advanced economy, there is substantial demand for Chinese equity. Stock exchange regulators continue efforts to make A-shares more broadly available to foreign investors and have them recognized by the global investing community.
In June 2017, the MSCI Emerging Markets Index announced a long-awaited decision it would add stocks to its index. According to CNBC, MSCI will add 222 China A Large Cap stocks to its benchmark emerging markets index gradually beginning in 2018. The MSCI website reveals the stocks it will list include the Bank of China, China Merchants Bank, Guotai Junan, Ping An Insurance, according to a document on Tsingtao Brewery, SAIC Motor, Suning Commerce and Spring Airlines.
Current Dividend Preference.
Participating Preferred Stock.
Convertible Preferred Stock.
Cumulative preferred stock includes a provision that requires the company to pay preferred shareholders all dividends, including those that were omitted in the past, before the common shareholders are able to receive their dividend payments.
Non-cumulative preferred stock does not issue any omitted or unpaid dividends. If the company chooses not to pay dividends in any given year, the shareholders of the non-cumulative preferred stock have no right or power to claim such forgone dividends at any time in the future.
Participating preferred stock provides its shareholders with the right to be paid dividends in an amount equal to the generally specified rate of preferred dividends, plus an additional dividend based on a predetermined condition. This additional dividend is typically designed to be paid out only if the amount of dividends received by common shareholders is greater than a predetermined per-share amount. If the company is liquidated, participating preferred shareholders may also have the right to be paid back the purchasing price of the stock as well as a pro-rata share of remaining proceeds received by common shareholders.
Significance to Investors.