4th largest shareholder of GME: Roaring Kitty

SimpleMeLike said:
How did you calculate $65K in year 1?

Thank you
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1R (5%) a week for 52 weeks turns 5K into about 65K, 1.05^52

If you can do it again you will turn 65 to 800K, then 800K to 10million.



Thing about trading once, every now and then, perhaps once or twice per decade, it is possible to 10x your money in a year by trading with leverage. Its just not possible every year. And there will be the odd losing year as well..
 
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Businessman said:
Thing about trading once, every now and then, perhaps once or twice per decade, it is possible to 10x your money in a year by trading with leverage. Its just not possible every year. And there will be the odd losing year as well..
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What exactly do you mean by this? Picking the right asset which will move for an extended period of time without relative low mae/drawdown?
 
Businessman said:
1R (5%) a week for 52 weeks turns 5K into about 65K, 1.05^52

If you can do it again you will turn 65 to 800K, then 800K to 10million.



Thing about trading once, every now and then, perhaps once or twice per decade, it is possible to 10x your money in a year by trading with leverage. Its just not possible every year. And there will be the odd losing year as well..
More...
Hello Businessman,

Thank you for the explaining. I am not 100% sure I follow you, I need to run the numbers in an Excel spreadsheet to make sense of it.

Yes, I need to scale ES by 1 contract per week as my goal right now to get to a Millionaire status and the very big contracts in the ES markets. One decade is far too long to get rich in the ES markets, not worth the effort waiting for 10 years.

I have been putting $500 in TQQQ every month to be Millionaire here in 10 years.
 
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Pekelo said:
That is a nice goal. Would you mind starting your own thread about it? It has nothing to do with RK or GME.

Or just buy GME calls...
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Good Morning Pekelo,

How are traders becoming millionaires with GME stock? Please tell me what to do with the GME stock?
 
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Businessman said:
Its easy.
Put 5000 in the cell A1, then A2=A1*1.05 , then repeat 156 times, for 3 years worth of compounding
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Hello Businessman,

Thank you sir. It make perfect sense now. Yes, this is one way to position size upwards. I use another way that is similar as well. Thank you,
 
SimpleMeLike said:
Hello Businessman,

Thank you sir. It make perfect sense now. Yes, this is one way to position size upwards. I use another way that is similar as well. Thank you,
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5% risk is considered aggressive, but can lead to huge returns (and drawdowns).

5% normally equates to about half Kelly for typical trading systems.
 
Businessman said:
5% risk is considered aggressive, but can lead to huge returns (and drawdowns).

5% normally equates to about half Kelly for typical trading systems.
More...
Hello Businessman,

I was thinking 5% is too small. I use 10% risk per trade.

My drawdown recover needs to be less than 3 days, preferably no drawdown days, all winning days.

Being in drawdown prevents position sizing and can not get rich quickly.
 
SimpleMeLike said:
Hello Businessman,

I was thinking 5% is too small. I use 10% risk per trade.

My drawdown recover needs to be less than 3 days, preferably no drawdown days, all winning days.

Being in drawdown prevents position sizing and can not get rich quickly.
More...

With 10% risk/ position sizing, you should reach $1Million in just one year :D
 
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