$1000 into $522,200 in 8 days?! Is this possible?
- Thread starter ckrieger1
- Start date
I think that in the currency market you get like 100:1 leverage so he was able to trade $100,000 worth of currency with only $1,000 deposit. I suppose we could look back at the historical chart prices to determine if that was possible....i think i'll do that!
But if the guy traded currency futures, I think that is quite possible (assuming the same leverage....this assumption may be wrong though).
Quote from pspr:
I once attended a charity casino night where you get a few play dollars to gamble with at their games for your donation. I wiped them out! Closed down all the 21 tables and proceeded to win all the play money they had at every game. Finally after everyone was mad at me for closing down all the games, I bet it all against some trinket they offered me on a single hand of 21 and gave it back. It was fun being King for a while though but ashamed to use up all that luck on play money.
Wally
Well, at least it went to a good cause....
$1000 into $522,200 in 8 days?! Is this possible?
no but 522,200 to 1000 is possible with the right leverage.
no but 522,200 to 1000 is possible with the right leverage.
I doubt that he have been able to convert 1000 in 522k$ in 8 days, unless to spot something as Argentina currency (very exceptional). The most Forex brokers offer few currency pair and usually only the most trading currency (about 7 or 9). These highly active currency will fluctuate only some percent in this time period and at 100:1 this will give about 300% in the best expectation, this is very far away from 522k$ ...
"In just four weeks, he had turned $500,000 into $7.6 million, a 1,400% return."
http://www.thestreet.com/markets/marketfeatures/771116.html
http://www.thestreet.com/markets/marketfeatures/771116.html