$3k to $1 mil in one year

Mtrader said:
If you think like joe average you will become joe average.
These are the 195 NEW billionaires from 2017 till now:
https://www.forbes.com/sites/katias...anny-stul-patrick-john-collison/#11a0862a4f1d
Statistically they had almost a zero chance to become billionaires. But they did.
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And how many did not? I guess with your analogy, you are counting your chickens before they're hatched, or think everyone is top .001%, or something like that. Remember this is trading. FYI there is nothing new being created here. However, applying emerging technology would be new, then the value would be in the tech. Sure some odd ball can get lucky and turn 3k into a million. So can a lottery winner.
The average joe within me thinks 30% is deceit return on 1 million. I'm happy scaling that into retirement. In a lifetime, many have a hard time achieve that consistently. And most may never see 30% before they burnout, let alone 1 million capital.
 
A trader may act like a gambler, sure.

A blackjack table does not trend for 9 years with players taking away record amounts of the casinos capital as the trend moves.

Warren Buffet said 'Gambling involves, in my view, the creation of a risk where no risk need be created.'

That being said - there is a lot to be learned by pro gamblers - their expectancy of winning, money mgmt, and use of game theory mirrors what a lot of very successful traders use. For example a pro gambler knows that risking 4% or 5% of their bankroll on bets is the road to ruin - The same applies to trading.

You could use a pro gamblers knowledge to make a very good risk mgmt strategy for trading. Some of the best performing hedge fund mgrs are run by former pro gamblers.

http://www.professionalgambler.com/Winperct.html
 
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The point you continue to bring up was never contested. Nobody said (well, almost nobody) that it is impossible to make 1mil from 3k starting capital in trading. However, the probabilities are as small as you shitting 1mil after you swollow 3k. It would be naive to encourage anyone to be ambitious to try such. Sometimes the odds are so stacked against you that it is stupid to still take the gamble. And trying to turn 3k into 1mil is pure gambling at horrible odds. It's simple probabilities. Multiply the probabilities of success by 1mil and compare with 3k. You will see that playing lottery is a way better investment than basically tossing 3k into the trash can.

Mtrader said:
No, I don't say to start gambling. If you would read more of my postings then you would know that I am against gambling. But trading has NOTHING to do with gambling. I don't like the attitude that people should be kept stupid and they should never be ambitious. The mass should be kept joe average.
Without ambition you will never succeed in anything. I did several things in life that according to people was stupid to do as it would by definition be impossible. One of these things was start to daytrade. All those who told me that, are now dreaming of the income I have. They all would sign immediately for that income.
I agree that it is very tough and only a few realize it. But if you never try you are already a loser before you start. I made huge losses at start but was stubborn. And now I am happy I was. I had a few failures too, but that's part of the game.
If you would read most of my posting you would know that I am not interested in rich people and money. I limit my trading and enjoy life as much as possible. I told this already many times in discussions with bashers. They said I should be the richest man on earth. I am not and will never be. I trade for a living, I don't live for trading.
So before judging people, know enough about the person you want to judge. Instead of making yourself ridiculous by posting things that are completely wrong.

You should also follow a course in comprehensive reading. I never said anything about the probabilities of turning 3k investment in a startup into a billion. I only wanted to show that things that are considered as almost impossible still can be achieved.

By making good money I achieved objectivity about money. I see now that you don't need billions to have a good life.
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dumpdapump said:
The point you continue to bring up was never contested. Nobody said (well, almost nobody) that it is impossible to make 1mil from 3k starting capital in trading. However, the probabilities are as small as you shitting 1mil after you swollow 3k. It would be naive to encourage anyone to be ambitious to try such. Sometimes the odds are so stacked against you that it is stupid to still take the gamble. And trying to turn 3k into 1mil is pure gambling at horrible odds. It's simple probabilities. Multiply the probabilities of success by 1mil and compare with 3k. You will see that playing lottery is a way better investment than basically tossing 3k into the trash can.
More...

The point you continue to bring up was never contested too. I never said it can be done easily, but theoretically it is possible and I know people who do achieve that. But for most people it is unrealistic.
I encourage my children to try to do this. But the first step is: you should be able to demonstrate that you have the potential to do that. I will even pay a few wipe outs on condition that they always follow the rules of the system. At this moment one of my daughters is trying sponsored by daddy.

If the OP wants to try, why not? Risk just 3K to find out is very cheap. Most real traders here lost much more before making money. Was it wrong from them to try? And even if OP only makes 1K it is still a success that apparently most here cannot achieve.
 
Mtrader said:
The point you continue to bring up was never contested too. I never said it can be done easily, but theoretically it is possible and I know people who do achieve that. But for most people it is unrealistic.
I encourage my children to try to do this. But the first step is: you should be able to demonstrate that you have the potential to do that. I will even pay a few wipe outs on condition that they always follow the rules of the system. At this moment one of my daughters is trying sponsored by daddy.

If the OP wants to try, why not? Risk just 3K to find out is very cheap. Most real traders here lost much more before making money. Was it wrong from them to try? And even if OP only makes 1K it is still a success that apparently most here cannot achieve.
More...

As clarified, it was a parody in response to another thread. I trade managed accounts. Size reduced with increased volatility. No pyramiding. I will thus never achieve dreamlike returns. Which is fine. Though a highly levered 3k punt do or die could be fun to do and write about. Hey, maybe the parody becomes reality?
 
You know people who achieved that? Lol. Proof. Even Dan Zanger's claim is just that, a claim. No proof out there that appears credible. This industry is so littered with wannabees, charlatans, shenanigans, and unproven claims. Whatever is needed to excite the get rich quick crowd who otherwise miserably failed in life.

And you appear to be part of that crowd. You said you would encourage your kids to do that into the face of odds that clearly tell you not to do that. Will you also encourage your kids to take hard drugs because you disbelieve the odds of cleaning up?

And to answer your last question: Yes, it is wrong to try because as said above the odds are squarely stacked against you and also because it teaches the worst approach someone can take to trading. Almost anyone who blows up does so due to leverage. Hardly anyone bleeds slowly to death.

Goodness. This is getting really stupid. I thought everyone understands that.

Mtrader said:
The point you continue to bring up was never contested too. I never said it can be done easily, but theoretically it is possible and I know people who do achieve that. But for most people it is unrealistic.
I encourage my children to try to do this. But the first step is: you should be able to demonstrate that you have the potential to do that. I will even pay a few wipe outs on condition that they always follow the rules of the system. At this moment one of my daughters is trying sponsored by daddy.

If the OP wants to try, why not? Risk just 3K to find out is very cheap. Most real traders here lost much more before making money. Was it wrong from them to try? And even if OP only makes 1K it is still a success that apparently most here cannot achieve.
More...
 
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dumpdapump said:
You know people who achieved that? Lol. Proof. Even Dan Zanger's claim is just that, a claim. No proof out there that appears credible. This industry is so littered with wannabees, charlatans, shenanigans, and unproven claims. Whatever is needed to excite the get rich quick crowd who otherwise miserably failed in life.

And you appear to be part of that crowd. You said you would encourage your kids to do that into the face of odds that clearly tell you not to do that. Will you also encourage your kids to take hard drugs because you disbelieve the odds of cleaning up?

And to answer your last question: Yes, it is wrong to try because as said above the odds are squarely stacked against you and also because it teaches the worst approach someone can take to trading. Almost anyone who blows up does so due to leverage. Hardly anyone bleeds slowly to death.

Goodness. This is getting really stupid. I thought everyone understands that.
More...

So according to you they should forbid all futures and options trading as everybody loses money? Maybe check stockmarkets too because I know people who lost their all they had too.
They should then also close all casino's.

Comparing this with encouraging your kids to take drugs? You are right:"Goodness. This is getting really stupid. I thought everyone understands that." You clearly don't understand it yourself.

You should go and see a doctor, there is definitely something wrong in your head if you make that kind of comparisons.
 
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Mate, the only one in here that has issues comprehending this topic appears to be you.

This entire topic is on probabilities. When you discount the future expected payoff and compare that with the cost you should have your answer right there. Now, that there are people that make a lot of inefficient and uneconomical decisions is an unrelated topic.

Mtrader said:
So according to you they should forbid all futures and options trading as everybody loses money? Maybe check stockmarkets too because I know people who lost their all they had too.
They should then also close all casino's.

Comparing this with encouraging your kids to take drugs? You are right:"Goodness. This is getting really stupid. I thought everyone understands that." You clearly don't understand it yourself.

You should go and see a doctor, there is definitely something wrong in your head if you make that kind of comparisons.
More...
 
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