$50,000 turned into $1M

I have a friend that bought 100,000 scty in the private market for 1$ a share before scty went public, he hasn't sold a single share yet which makes his position worth about 7mil depending what day you look.

At the time $100,000 represented about 50% of his liquid net worth.
 
Hello everyone, I thank you for all the sincere insights from all of you to my questions.

In my case I am just a beginner with $40,000 in my account, I guess I can have BP of $120,000 in TDwaterhouse.

I am not expecting much because I am new, if I can make $2000 per month I am happy.

Is my expectation realistic?
I live with my family so I don't have much spending to worry about....

TIA:)
 
frenchtrader said:
i have my best friend at this time who did this, starting at the beginning of 1998 untilmid 2000) , we were following a system, the main lesson of this is to let your profit run, cut your losses, and to profit from good period of volatility to increase the size of your positions
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Was this done with real funds real time or mere paper trading. Real funds would be an impressive feat !! :D
 
sp2020 said:
Hello everyone, I thank you for all the sincere insights from all of you to my questions.

In my case I am just a beginner with $40,000 in my account, I guess I can have BP of $120,000 in TDwaterhouse.

I am not expecting much because I am new, if I can make $2000 per month I am happy.

Is my expectation realistic?
I live with my family so I don't have much spending to worry about....

TIA:)
More...

How are you planning on doing it? What do you want to trade? What is your trading style?
 
wwatson1 said:
How are you planning on doing it? What do you want to trade? What is your trading style?
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I plan to trade small stocks at $10 on good news, buy 3000 shares ...looking for 3-5 cents profit per share & repeat the trade if possible...
If a stock take out 2 days high on good volumes, I am in....

$2000 per month= only $100 profit a trading day.

__________________________________________________________________________
I am new though so I have no ideas if it is possible but my target is small, I hope it would work. I don't plan to trade on margin....
______________________________________________________________________________
Please give your insight, thank you.
 
sp2020 said:
I plan to trade small stocks at $10 on good news, buy 3000 shares ...looking for 3-5 cents profit per share & repeat the trade if possible...
If a stock take out 2 days high on good volumes, I am in....

$2000 per month= only $100 profit a trading day.

__________________________________________________________________________
I am new though so I have no ideas if it is possible but my target is small, I hope it would work. I don't plan to trade on margin....
______________________________________________________________________________
Please give your insight, thank you.
More...

I hope you know that there exist situations where stocks do tank on good news.
How much will you then lose ?

At least you have a monthly target : make sure any good day you reach it, you take the rest of the month off. :)
 
sp2020 said:
Just curious if anyone here has turned $50,000 to one millions through trading? If so, how long it would take.

Thank you :)
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It has been done before eg Richard Dennis but today the age of HFT its going to take much, much longer unless we have another credit crisis type of an event ( meltdown)...
 
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