$100 million possible?

Very good post Thunderdog. Your thinking makes perfect sense to me.


Quote from Thunderdog:

I am impressed, as always, with the lucidity and thoroughness of your analysis. And while I agree with most of your analysis, I do not agree with all of your conclusions.

I imagine that this discrepancy in conclusion is attributed to the point you outlined in your second to last paragraph. I think that thoughtful people approach the markets from their understanding of, and experience with, the markets and what they believe to be their strengths in exploiting those markets. It also comes down to the perception of risk and the stomach for it. In my case, I have found that I am much better at calling (and leveraging) very short term movement and riding it than I am at calling longer term moves with confidence. And where longer term moves are concerned, I personally (and probably inappropriately) view confidence as complacency. And I act in accordance with my beliefs and personal experience.

We are all the product of our past, at least in part. I started trading the markets from a position/swing trading perspective and ended net negative. I remember well the sleepless nights of prices moving against me while I tried to be "confident" in the "bigger picture." Perhaps if I had known then what I know now it might have been different. Perhaps if I had started as a complete greenhorn trading intraday and had gotten burned badly, I might have been more receptive to holding on longer term today. Who knows? I am aware of my bias, but despite my introspection, it remains. This is how I see the world. And while I am now reasonably confident in trading the markets that I participate in, I regard the market as a big and somewhat unruly dog that is best kept on a fairly tight leash. Sleep is important to me, and while I like money as much as the next guy, I also value quality of life (as I define it for myself). Perhaps one day, I will look outside of myself and have an epiphany that will give me a completely altered view of the world and the markets. But until that time, this is my working model. And while I may not look to specifically make x% per day, it is nevertheless the sum of daily performance that results in annual performance.

At this point, I don't know if my post just rambles or if it makes some sense to anyone. I am just too tired to review and amend it if necessary. So, I will just press "Submit Reply" and hope for the best...
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A more interesting question:

Has anyone taken $50,000 and turned it into $1,000,000 since Jan 1, 2000???

Any type of trading is acceptable.

PS. People that trade Forex are the same people that buy lottery tickets. Money in Forex is selling the programs, systems etc etc.


SteveD
 
well, I don't feel like reading a bunch of crap on here, but I'll add my $.02

Joeyata can back me up on this if he wants.

I went to ATL to visit a firm down there, and there was this guy who reportedly makes $100,000 a day on good days, but usually around $30k-$50k.

I'm going to visit a firm next weekend where some guy suposedly makes $50k a day. I'm not going to vouche for these guys. My point is I've HEARD about it as being a possibility

just so you don't have to bust out your calculators:
$50k a day = $250,000/wk = $13,000,000/yr

7.69 yrs to reach $100m
 
just another stupid comment

if one is making that much a day, you most likely didn't start there. You had the $200/day, $500/day, $1000/day, etc. periods

therefore, you'd have a head start before you started making $50k a day.

these guys are few and far between, I'd wager
 
Didn't someone just made $300M from a $20 lot ticket?
Everything is possible.

But to stick to trading, it really depends on how much you start with. If you already has $100M, you only need double. If $10000, that's a long way to go!
 
Yes, people make $100 mil in the markets all the time. It happens when enough traders get together to start a brokerage. If they're the brokers then I guess we're the brokees!
 
This certainly has turned into a lively thread.

Since my topic is FOREX I will be moving over to the FOREX Thread. I have some comments to the replies here which I will post there on Feb 26th.

Meanwhile, I notice the difficulty we are all having with the zeros in the Billion and Trillion numbers.

As I recall we have two types of the Billion number, one the American Billion the other the British or European Billion. They are significantly different, but I do not have reference book here to look them up and quote the difference from a definitive source. And since there are or were two types of the number billion, there may be two types of Trillions also. Maybe someone with a good reference library could check this?

Suffice it to say that a Billion is a very small part of a Trillion irregardless of which Billion or Trillion we are using. How small?
Very small and that's enough to make the point.

No need to get into the "number of angels dancing on the head of a pin argument". Its a waste of time and in my opinion it really isn't worth it.

And SteveD I don't buy lottery tickets. They're too risky!
 
Do you know if these guys are equities traders? Or do they trade other markets?




Quote from SwingOutOn5:


I went to ATL to visit a firm down there, and there was this guy who reportedly makes $100,000 a day on good days, but usually around $30k-$50k.

I'm going to visit a firm next weekend where some guy suposedly makes $50k a day. I'm not going to vouche for these guys. My point is I've HEARD about it as being a possibility
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