20k to 500k

Trader KGB · Feb 21, 2007

Quote from pjmalcolm1:

so it han never happened before?

You're chasing a pipe dream.

To quote you from your other thread on the exact same subject:

Quote from pjmalcolm1:
I am 17 years old and im just getting into the world of trading. I have $10000 to start off with and I would like to know how does it REALLY take to build up my capital to $500000 ?

Put the $10k into the bank/money market. Study like hell and get into the best possible college you can, then study like hell some more & get the best possible GPA you can. Rinse and repeat with a graduate degree. With any luck, 10 years after graduation, you'll find $500k won't be such a pipe dream.

chauncey1 · Feb 21, 2007

Quote from pjmalcolm1:

How long would it take to make 500k from 20k in a years time? And what is the annual income of most career traders?

What kind of thread is this?

Use a calculator or an excel sheet to calculate that.

Anyway, some funny comment like this must be taken as a bearish indicator.

virgin · Feb 21, 2007

another wannabe trader/dreamer

dozu888 · Feb 21, 2007

Quote from pjmalcolm1:

How long would it take to make 500k from 20k in a years time? And what is the annual income of most career traders?

about 12 years

Steve Tvardek · Feb 21, 2007

In your first year, you should be much more concerned with not losing your initial 20K rather than how much you can make.

Quote from pjmalcolm1:

How long would it take to make 500k from 20k in a years time? And what is the annual income of most career traders?

TraderRobb · Feb 21, 2007

You need a good program.

JangoFolly · Feb 21, 2007

It's definitely possible, but it's entirely a function of you and your trading system. The answer is "yes" if all of the following apply:

a) You have a robust and comprehensive trading and risk management system that you have realistically tested and found to be net positive.

b) The system is scalable up to the position size required to meet your income expectations.

c) You have sufficient capital to trade your system as you tested it.

d) You have confidence that your plan will work, and you have the experience and maturity as a trader to follow your plan exactly.

That said, if all of the above were true you wouldn't be asking this forum whether it were possible -- you would know it is possible. So while it's definitely possible, it's almost certainly improbable.

asap · Feb 21, 2007

20k to 500k translates into 2400% profit.

Given r=e^(ln(Z)/n), where r is the required rate of return, Z is the aggregate return, n is the number of periods and e is the Euler's number, you would have:

For 4 quarters => r=121,33% per Q or
For 12 months => r=30,32% per month or
For 252 days => r=1,269% per trading day.

So, it is up to you to decide whether these figures are achievable or not.

makloda · Feb 21, 2007

Quote from pjmalcolm1:
How long would it take to make 500k from 20k in a years time? And what is the annual income of most career traders?

Goto a casino. Put the entire balance on black (or red) 5 times in a row. You just have to win every round, 5 times in a row. There you got it: You made 640k outta 20k in 10 minutes. Ain't it sweet, almost risk free!!!!!!!!!

(Using the above method you have a higher chance of succeeding than trying to reach your goal in the markets.)

asap · Feb 21, 2007

Quote from makloda:

Goto a casino. Put the entire balance on black (or red) 5 times in a row. You just have to win every round, 5 times in a row. There you got it: You made 640k outta 20k in 10 minutes. Ain't it sweet, almost risk free!!!!!!!!!

(Using the above method you have a higher chance of succeeding than trying to reach your goal in the markets.)

ahahah.

tough time trading you own account, eh?

20k to 500k

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