Shopping Chat

The cracks I've been discussing in this market which indicate the rally may be tiring has yet to develop into a full blown gaping hole as buyers continue to step in and support this market on any dip. The bottom line right now is that there is zero follow through on days of weakness and that has kept the indices firmly above the 20 day moving averages. Heck, we still don't have 3 consecutive down days since the rally began! The somewhat sideways action over the past few weeks has worked off the overbought conditions, so I have been a bit more aggressive on the long side in recent days, but am locking in profits quickly and setting tight stops. At the same time, I've been shorting with leveraged ETF's and a few individual plays when the S&P gets closer to the 875 level which has been key resistance. It's tricky up here.. no question.

There are compelling reasons to believe this market will move higher and compelling reasons to think it will move lower and soon. Let's look at both..

Bullish reasons:
- market remains in up trend and above 20 day moving averages
- market still looking for the positives (case in point today on GDP - not focused on headline number but underlying consumption number)
- Nasdaq breakout from double bottom base
- Dow cleared downward trend line off Oct, Jan and April highs today (by a hair)

Bearish reasons:
- no significant correction after V shaped recovery
- S&P continues to close below 875
- The Q's are right at resistance of the 200 day moving average on the daily chart
- Jim Cramer remains as bullish as ever (oh c'mon we all know now Jim is a contrarian indicator!)
- there are still big economic problems to work through

Lots of conflicting signals right now that indicate the end of the rally may be near but few MAJOR signals of that yet. What I'm looking at for tomorrow is how this market reacts to the move today. Remember that the trading action the day after a Fed move is often the opposite. I'll be keeping a close eye on that S&P 875 level which this market has had a heck of a time with (at least on a closing basis) as well as that 200 day moving average in the Q's around 34 (there was a bit of a reversal at that level today). IF, we follow through on today's strength and the S&P and Q's clear resistance I will continue to look for short term day and swing trades on the long side and would probably close out some hedging as well.

Given the resiliency of this market we can't rule out a move to the 200 day moving averages for the major indices which would occur around S&P 950, Dow 9000 and Nasdaq 1780. If we don't take out the 20 day moving averages quickly over the next few days a run to those levels becomes much more likely. The 20 day moving average levels acting as support are 1650 in the Nasdaq, 8000 in the Dow and 850 in the S&P.

To close out tonight, I'd like to discuss one trade idea and that idea is First Solar (FSLR). After the bell today the company smashed estimates, doubling revenues and more than tripling profits. This all at a time when the overall economy and solar industry struggling AND before any stimulus package catalyst takes effect. Very impressive. So impressive that I did something I rarely do and that's make a trade after hours. I alerted my Gold members to the earnings report and the long trade alert in FSLR at 165.13. Tomorrow I'm looking for it to get back above the 200 day moving average for the first time since last August. I certainly wouldn't chase it tomorrow particularly given the run this market has had but on any pull backs it will offer the opportunity to get in on the kind of company that will be a leader for many years

by Jason Alan Jankovsky

As we have discussed before, this discussion forum is to explore the psychology behind the success or failure to trade successfully. As most traders with any experience know, the ability to “call “ the market is relatively easy in comparison to getting properly positioned within the market, and taking the most amount of money from your observation; that is where the real work of lasting trading success really lies. All of us have found the actual bottom or top of a significant move but failed to capitalize on that opportunity for one reason or another.

This month, I would like to address one of the more common trading errors. Everyone has made the error of overtrading at some point and many continue to make this error despite knowing they have this problem. Just knowing you have a propensity for a trading problem is half the battle but more importantly, you need skills and tools to correct your trading error. One of the more critical skills to develop in my view is to stop and confront the problem of overtrading.

Overtrading is a symptom of a deeper psychological problem which I like to call attachment to results. All traders have a certain degree of results they are pursuing in the markets; that is not the problem. The markets exist to exploit inequalities (real or imagined) in the supply and demand of something or financial instruments. It is a good thing to see an opportunity and assume the risk for the potential that is there. Once that action has been taken the only question is whether or not that inequality you perceived is an actual event that is unfolding over time. Between the time you execute for an entry and the time you liquidate for an exit; the markets will be moving. That movement is where the issue of attachment to results translates into your personal results.

Attachment to results can actually be expressed two ways depending on your personal psychology and trade method. The first way is holding losers and the other way is overtrading. We will discuss the issue of holding losses at a later time but the net effect on your equity is the same whether your problem is holding losses too long or you overtrade. Attachment to you results is the bedrock problem behind either overtrading or holding losses. In the case of overtrading, it represents the psychological need for immediate results (or positive results) without the corresponding willingness to allow time to pass. I think it is safe to say that a certain amount of time is required for any trading style to generate a gain and the unwillingness to let the required amount of time to pass comes out in the markets as constant execution over some timeframe.

If you use an hourly timeframe to pick your points of entry it is safe to assume that more than one hour must pass in order to determine if your executed trade has potential as you see it. Should the market move against your position that is to be expected, it is unreasonable to assume you will “buy the low” or “sell the high” every time you trade. As the market moves, if you are attached to your results, that movement means something to you. It is personally helping or hurting your equity. As your account balance changes from open trade equity, your focus narrows down to how this is affecting you personally. Most traders with this problem now seem to forget the high degree of study, preparation and thought they invested into picking that spot to execute. For some reason, the long-term fundamentals are forgotten, the technical studies are re-evaluated in real time, the protective stop order might be moved and the limit order to take the gain is moved closer to the market. Or any number of things. Then this trader executes to exit the market. Prices remain near their entry or advance. Attachment to results now says “You are missing it! You were right!” and this trader now executes again for an entry. As prices return to the first entry price, this trader again has a small open-trade loss; again the trader’s attachment says the trade is not going to work. This process may repeat itself several times over a short period of time, especially if the market is advancing in the intended direction. The problem is not the market price action; the problem is the attachment to results imposed by the trader creating an urge to action that is not consistent with normal ebb and flow of most market action. The trader has failed to allow time to pass and let the market do what it is going to do. During a major price advance or decline that was properly observed, this trader has small gains or even net losses when his just sitting tight for a period of time would have resulted in a nice gain.

Solving this problem is a factor of learning patience as well as adapting your thinking to better fit with the market you trade. I have observed from working with many developing traders that if they have the problem of overtrading, the simplest solution is to impose a new set of rules on their execution that allows time to pass. I have a very common sense based method that I would encourage you to try for yourself. Simply turn your screen off; the assumption here is that the market will do what it will do whether you watch it or not. The problem is not the market price action, the problem is attaching meaning to that action and executing. If you can’t see the price action, you can’t execute. So the first thing we do is impose the rule: After you execute you have to turn the screen off for at least one bar of your time frame as a minimum.

In most cases, several bars are needed to either confirm or deny a trade potential is developing so often the trader must sit in front of a dark screen for several hours. The market is still moving, but in this case, the stop is also still where it was originally placed, the limit is still where it was placed and the trader cannot reevaluate the trade nor do anything except wait. During this time I also require the trader to write out in as much detail as possible exactly his hypothesis for the trade. This keeps the trader focused on the critical thought required to do the trade as opposed to how the tic-by-tic price action is affecting his equity. After enough time, this self-imposed isolation develops into patience to let the trade work. At some point, the trader will no longer need to be “in the dark” and he has the skill to simply sit still and let the trade work.

Next month we will talk more about attachment to results as it comes out when you hold losing positions. In the meantime, if you have a tendency to overtrade; try this method. I think you will be surprised at how fast you learn to let your trades work

Do you want to trade stocks for a living?
I do not trade for a living.

I get emails from traders wanting to start a trading business. They want me to tell them how to trade for a living. My standard answer is this:

"I don't trade for a living and I don't have any kind of a stock trading business. Sorry I can't help you."

And then comes the usual reply...

"Why don't you do this full time? Don't you want to quit your job?"

And then it hits me...

This person is sick and tired of his "job" and wants to do something that he loves to do - trading stocks! I currently own a small business (not related to the stock market) and believe me - one is plenty! I don't have the desire that this person has because I don't work for someone else. I work for myself.

I can understand the desire to want to trade stocks for a living. I used to have a "job" and to be quite honest - it sucked!

A Job Versus A Business
Having a "job" is the worst method of generating income and the most inefficient way to make money.

Why you ask?

Because your salary is based on time. You can see the problem right away. There is only so much time in a day! In order to make more money you have to invest more time. This makes you miserable, tired, and cranky!

Some other problems associated with having a job..

You can never get paid what your really worth.
You have to work long hours to make someone else wealthy.
You can't make more money unless you beg for a raise.
You have no freedom.
You have no leverage.
And the number one problem? You have to work in order to make money.

Yep. I can see why so many people want to trade stocks for a living!

Now let's look at owning a business. Time is no longer a factor. How much time you spend running your business is up to you. You get paid for the value that you provide to your customers. This is usually in the form of a product or service. If you trade stocks for living, then you are providing liquidity to the markets. This is very valuable. Without traders, the stock market wouldn't work!

Now let's look at the benefits of having a business:

You get paid what for what you are worth.
You get paid to make yourself wealthy.
You decide how much money you want to make.
You have freedom.
You have leverage.
And the number one benefit? You do not have to work in order to make money. You can put on a trade, type in your stop loss order, and go fishing. Assuming the trade goes in your direction, you will make money without working.

As I type this on my computer, I am making money with my current business, even though I'm not doing any work there.

Another thing to consider...

When you own a business, you can get paid over and over again for a one time effort. Let me explain: Let's say you decide to trade stocks for a living. You buy a stock on Monday. This will be a typical three or four day swing trade. When the stock moves in your favor, you will continue to make money over the course of several days, for just that one time effort you put into it on Monday!

This is the same way with any business.

So, when you go into work tomorrow to that dreadful day job, tell your boss that you would like to get paid over and over again for the effort you put in last Monday. He will laugh and think you are crazy! But, HE will get paid over and over again for YOUR efforts!

Doesn't seem fair does it?

Trading Stocks For A Living
Well, I hope I haven't upset you by the above comments. But hopefully it will inspire you to make a change.

Like I said at the beginning. I do not trade stocks for a living but I am observant. I own a business so I can see what other professional full time traders do to make a living.

There a several things that I know you MUST do before you begin a trading business:

You must eliminate all of your personal debt.
You must be well capitalized.
You must have a logical trading system.
You must follow extreme money management rules.
This is true for most any business. You have to have your ducks in a row before you even begin.

But there is one major problem that I can see if you decide to trade stocks for a living. This is no small problem either:

Drawdowns.

You WILL have drawdowns. Every professional trader goes through periods where they lose money. Anyone that tells you otherwise is a liar! How will you deal with this?

How do professional traders deal with this? The answer is right in front of you but I bet you never noticed it.

They teach others to trade, sell books, and create a myriad of other products and services related to the stock market. They create multiple streams of income to compensate for the harsh realities of draw downs.

Think about it. Look around the internet. Every one of them has a product or service to sell. There is nothing wrong with this if what you are selling is valuable and helpful to other stock traders. That's what a business does. It sells value. If it succeeds, then it becomes a total win-win situation for both the business owner and the customer.

Heck, you don't even need a product or have to sell a service to make money on the internet! I know of a couple people who make a living selling other people's products. Not only do they make a living but they make a very nice living.

Check out some of these success stories from the company that I use to build this website. Yes. They make a living from their website. You'll be shocked but inspired.

Anyway, back to my point. If you want to trade stocks for a living you would be wise to come up with other ways to make money to compensate for drawdowns. A LOT of professional traders do it. Very smart.

In Conclusion...
Like I said in the beginning. I do not trade stocks for a living.

The thought of staring at a computer screen watching candles form on a chart does not excite me! But, I wanted to write this page to give you some perspective on it from a business owners point of view - without the hype.

Do not start a trading business just because you want to quit your 9 to 5 job.

Do it because...

YOU LOVE TO TRADE STOCKS!

I certainly do.

Source===> Swing Trade Stock

Have you ever ditched your trading plan? If not, you should read this anyway because you're most likely lying. If you have, why do you think you're so "unfaithful"?

Do you blame it on your personality? Temporary insanity? Or an excuse that its' just part of trading?

You might actually be right. Thare are many factors that could contribute to your lack of discipline.

Depending on your personality, background, training, and experience with the markets, you may have trouble controlling your tendency to act on impulse


For some, impulsivity is in their blood. They have trouble concentrating. They are easily bored. They look for quick thrills for relief. For others, impulsivity is related emotional weakness. Some people have so much trouble controlling their emotions that they react impulsively out of frustration.

Temporary setbacks are inescapable when trading. When the extremely emotional trader encounters one of these setbacks, he or she becomes overly distressed, and may close a position early, or in a fit of frantic, make a major trading mistake that can only be fixed by closing the position.

No trader is perfect though. Any trader can act impulsive at times. Research has shown, for example, that when people are tired, they have difficulty concentrating. As much as your conscious mind cares about sticking to your trading plan, your unconscious mind thinks, "Who cares? I just want to get this over so I can chill out." Your psychological resources have been exhausted. When you push yourself to the limits, you'll have trouble concentrating on your trading plan and obeying it.

Other traders may be impulsive because they lack experience. You can't expect to stick with a trading plan when you don't what the hell you're doing. If you're new to forex, you'll lack confidence and feel uneasy You'll start hesitating to pull the trigger. You won't want to risk your money because you don't have that strong belief that your plan will produce a profit like seasoned traders display.

Trading plans must be clearly defined and easy to follow. When you have a n incomplete trading plan where important parts are left unclear, you'll have trouble following it. A trading plan should consist of clearly defined entrance and exit strategies. Signals that indicate how the trade is going are also important. Don't underestimate the importance of clearly mapping out a trading plan. You can't stick with a trading plan that you can't follow.

The winning trader is the disciplined trader. Disciplined traders stick with trading plans. They don't act on impulse. It's essential that you identify the reasons you find yourself trading on impulse. It could be your personality or it may just be situational, but whatever it is, you must gain awareness of these factors and resolve them. Once you control the urge to act on impulse, you'll trade more profitably.



Source : Babypips.com

Felix Dennis, publishing tycoon, has written a guide to becoming a multi-millionaire. All you need is thick skin, cunning - and a work ethic

It also helps that I am writing while sipping a very fine wine (a Chateau d’Yquem 1986, if you really want to know), nibbling on fresh conch tidbits, ensconced by a window with one of the most beautiful views on earth.

Across the valley, far, far below me, palm trees fringe the fishing boats and yachts nodding in the harbour. Beyond the bay to the west, a turquoise sea ripples out to a purple and pink horizon, heralding another glorious sunset.

I am in Mustique, a tiny island in the Windward Islands of the Caribbean. More specifically in my “writer’s cottage”, a study-cum-library some distance from the main house, built solely for one purpose — to permit me to write whatever I please in peace and quiet.

All of this, as if you needed me to remind you, costs money. It’s what you get, if you want, when you’re rich.

You’ll be suggesting next that it will improve my sex life.

People who grow rich almost always improve their sex life. More people want to have sex with them. That’s just the way human beings work. Money is power. Power is an aphrodisiac. Money did not make me happy. But it definitely improved my sex life.

Just how quickly can I become rich?

I have known it done inside five years, but there are very few “short cuts”. Knowledge learnt the hard way combined with the avoidance of error, whenever and wherever possible, is the soundest basis for success in any endeavour.

The bottom line is that if I did it, you can do it. I got rich without the benefit of a college education or a penny of capital but making many errors along the way. I went from being a pauper — a hippie dropout on the dole, living in a crummy room without the proverbial pot to piss in, without even the money to pay the rent, without a clue as to what to do next — to being rich. And I am certainly no business genius, as my rivals will happily and swiftly confirm.

Yet the odd thing is, I’ve ended up far richer than most of my rivals.

How rich are you, anyway?

I don’t know. Nor does any rich person know. I haven’t cashed in all my assets and I’m not certain what they will fetch. Let’s say $400m-$900m (£215m- £483m) of net worth before tax.

Five homes. Three estates. Fancy cars. Private jets. (The jets are always rented. If it flies, floats or fornicates, always rent it — it’s cheaper in the long run.) Thousands of acres of land. Art on the walls and libraries stuffed with first editions. Bronze statues littering up the garden. Chauffeurs, housekeepers, financial advisers and other personal staff coming out of my rear end. Oh, and thousands of bottles of fine wine in the cellars. Never forget the wine.

Less the debt, of course. Around $30m (£16m) of debt. Rich people always have a certain degree of debt. Apparently it helps to reduce taxes. I’m not so hot on the bean-counting side. But I can’t fly the jets or drive the Rolls-Royces or Bentleys either. I never had the time or the inclination to learn.

Honestly speaking, what kind of people get to become rich?

An interesting topic. There is a confidence that radiates from first-born sons and daughters. Not in all the cases but in too many for it to be a coincidence. A similar confidence is to be observed, more often than not, in people who are rich, no matter whether they were born with it, inherited it or acquired it through their own efforts.

You can see it in the way they walk into a hotel or restaurant they have never visited before. In the irritating disposition of rich women to haggle in an Oxfam shop over a designer dress — unlike any working-class woman, who would be horrified at the thought of doing any such thing, even though she perhaps needs the discount while the rich woman does not

You can see it, too, in the way the children of the rich appear to assume that the world was created entirely for their sole benefit. Money brings a kind of insouciance with it. It is among wealth’s least attractive characteristics.

Whatever qualities the rich may have, they can be acquired by anyone with the tenacity to become rich. The key, I think, is confidence. Confidence and an unshakeable belief it can be done and that you are the one to do it.

Tunnel vision helps. Being a bit of a shit helps. A thick skin helps. Stamina is crucial, as is a capacity to work so hard that your best friends mock you, your lovers despair and the rest of your acquaintances watch furtively from the sidelines, half in awe and half in contempt.

Becoming rich does not guarantee happiness. In fact, it is almost certain to impose the opposite condition — if not from the stresses and strains of protecting it, then from the guilt that inevitably accompanies its arrival.

If I had my time again, I would dedicate myself to making just enough to live comfortably (say £30m or £40m) as quickly as I could, hopefully by the time I was 35. I would then cash out immediately and retire to write poetry and plant trees.

Making money was, and still is, fun, but at one time it wreaked chaos upon my private life. It consumed my waking hours. It led me into a lifestyle of narcotics, high-class whores, drink and consolatory debauchery. As a philosopher might have put it, all the usual dreary afflictions of the seeker after wealth. ()

These afflictions, in turn, helped to undermine my health. But like an old, punch-drunk boxer, I couldn’t quit. It’s no excuse, but making money is a drug. Not the money itself. The making of the money. This sounds like so much hooplah, but it’s true.

Nobody believed that exercise could prove addictive until science stepped in and discovered endorphins. And making money, I assure you, is a hell of a lot more of a rush than jogging.

Up to just seven years ago I was still working 12 to 16 hours a day making money. With hundreds of millions of dollars in assets I just could not let go. It was pathetic. Because whoever dies with the most toys doesn’t win. Real winners are people who know their limits and respect them.

Eventually I found a way out. I handed over day-to-day control of my businesses to younger and mostly smarter boys and girls. I cleaned up my personal life.

I began doing what I wanted to do — not what I felt I had to do. After all, what did I have to prove? Except, perhaps, to myself.

IT IS possible that you will avoid such mistakes when you get rich. I hope so. One thing is for sure: “the usual afflictions” are no reason not to make the attempt. There is no reason on earth why financial success should lead to personal catastrophe

If you wish to be rich, however, you must grow a carapace. A mental armour. Not so thick as to blind you to well-constructed criticism and advice, especially from those you trust. Nor so thick as to cut you off from friends and family. But thick enough to shrug off the inevitable sniggering and malicious mockery that will follow your inevitable failures. Not to mention the poorly hidden envy that will accompany your eventual success.

Consider carefully this shortlist:

If you cannot face up to your fear of failure, you will never be rich.

The truth is that getting rich means sacrifice. And it isn’t always you that’s doing the sacrificing. This is not a calling for the faint-hearted. There is no shame in turning away. After all, if everyone was prepared to make the necessary sacrifices, who would be left to work for my own companies? Quite apart from sacrifice, there is a last brutal truth to be confronted. After a lifetime of making money and observing better men and women than me fall by the wayside, I am convinced that fear of failing in the eyes of the world is the single biggest impediment to amassing wealth. Trust me on this. ()

If you shy away for any reason whatever, then the way is blocked. You will never get started. You will never get rich.

Fear of failure is almost certainly the reason that you have not already begun to make yourself rich. It haunts all of us.

In essence, it comprises two components. The first is our natural desire to avoid letting ourselves or others down. The second is the exposure of that failure to the outside world.

This nastier, stickier second component, the “broadcasting” of our misjudgments or errors, especially to our peers, is often the nub of the matter.

The same factors apply to me, sitting around with colleagues at Dennis Publishing trying to figure out if we should invest millions of pounds to launch a new car magazine, or to a young woman considering whether to take over her father’s used-car business or to invest another two years of her life into obtaining a PhD in bio-engineering.

Neither decision will involve utter financial ruin. But fear of a result that cannot be easily hidden weighs heavily in the balance.

The board of directors that runs Dennis Publishing will talk earnestly and sensibly about the effect on morale for the rest of the company (usually forgetting to mention its own morale) in the event our proposed new magazine bombs.

In reality, Dennis Publishing staff working, say, on The Week or Maxim or Computer Shopper, won’t give two hoots if the company’s new car magazine is a sensational flop. But by discussing the matter in such terms, in code if you like, the board gives itself the opportunity to weigh its own fears while appearing to weigh the fears of others. It is a form of well-disguised cowardice.

On a less corporate level, the young woman believes she might be able to expand her father’s used-car business more aggressively than he has done in the past. On the other hand, a PhD would add status to her life and offers the prospect of a fulfilling career in science.
She must decide. Her father is unwell and cannot wait for her decision. What if she takes over the company and it goes belly up? What if she shoots for a master’s degree and does not achieve it? A failure to obtain her master’s degree could be disguised fairly easily. She could always claim she has become bored with bio-engineering. The decision to take over her dad’s company, however, will be far more closely monitored — by relatives and neighbours, by the people who work there, by rival car dealerships, by the bank manager, and not least by her father. Should she fail, she will run the risk of becoming a laughing stock or an object of pity.

So what is her best option? She is unlikely to get rich as a bio-engineer. But she might well get rich expanding the dealership, especially because she is aware that her father has never invested to the extent that he might have done in marketing and promotion, especially on the internet.

The car dealership is already capitalised, and, although she will have to pay off her father eventually, he is hardly likely to foreclose on her. There is an opportunity, but is she prepared to exploit it? So what should our young college girl do? Normally, I would hesitate to offer any advice. But I happen to know her. I was half in love with her once. She happens to be real and her name is Julie. All this happened a long time ago.

In the event, she took her degree and her father sold the business to an outsider. Julie is a highly competent bio-engineer and has enjoyed her career enormously. But on more than one occasion she has told me she regrets not taking her father up on his offer.

What swung the balance was her fear of failure in such a “public” endeavour. She was frightened that others (especially the male-dominated community of car sales firms) would laugh at her.

It irks her to know that she will never be rich. It always irks intelligent people like Julie. And I can give you other examples. One of them is my mother.

She will be furious (if she ever reads this) that I have mentioned her in such a context. But I know my mother well. I know beyond a shadow of a doubt that everything I have achieved I owe not just to care and love but to her genes.

She could have built herself a fortune had she wished. Her personality combines the resilience, the drive and the restless energy of so many people who become rich. But 60 years ago it was almost unheard of for a woman to act out such ambitions. Her parents would have been scandalised. Neighbours would have viewed such behaviour in the most negative light imaginable. And had she succeeded, horror of horrors, she would have earned their undying enmity. It just was not “done” for a woman to earn a fortune for herself — except, somewhat dubiously, as a movie star perhaps. Or a writer of crime novels.

Single or newly married women from respectable families in the 1940s and 1950s were actively discouraged from involvement in business except for a little light typing or serving in shops and department stores. Especially if they had children. Especially if they lived in the south of England.

Never mind that my mother had more brains in her little finger than half the twerps she worked for as an accountant. Women were not even allowed to sign a hire-purchase form back then. They had to get their husband or their brother or their father to do it.

So she didn’t become rich. She had a decent career. She earned enough to support my brother and me and to provide us with more than just the necessities of life. And she married again and became a pillar of the community. But I know that she could have done it, had she been prepared for the unpleasantness, the sheer nastiness that would have been unleashed upon her if she had chosen to say: “To hell with them. Let’s go!” It was not so much a fear of failure on my mother’s part, I believe, as a fear of upsetting the whole apple cart of the community in which she lived. And now she is an elderly, if formidable lady who quietly walks her dog along English country lanes.

DENNIS'S WEALTH GUIDE

Total assets

£1m-£2m The comfortable poor

£2m-£5m The comfortably off

£5m-£15m The comfortably wealthy

£15m-£40m The lesser rich

£40m-£75m The comfortably rich

£75m-£100m The rich

£100m-£200m The seriously rich

£200m-£400m The truly rich

£400m-£999m The filthy rich

More than £999m The super rich

© Felix Dennis 2006