Are there any millionaire traders who started undercapitalized?
Are there any millionaire traders who started undercapitalized?
- Thread starter Commodity_Trader
- Start date
No. Not without outside funding of some type. There may be a few black swan lottery winners but that is exactly what they are. Not folks to follow and learn from.
@MaketSurfer ,so in real world ,there are not anyone who turned for example a retail account of 3k USD into 200k USD in two years ?
Interesting. I would have thought that it was possible that there may be a few in the world out there, but I guess not.
rmorse
Sponsor
Yes, I know a few. They made most of their money in equity options before 2001. After that, the market became to fragmented and you needed more capital to make a lot of money. I also knew a few futures/options floor traders that also did brokerage. Same time frame. They did very well back then.
What's your definition of under-capitalized ?
Seriously, not too long ago someone here said anything below 250k.
Also, what exactly do you mean my millionaire traders ?
You talking about someone that's done such in 1 month, 1 year, 10 years or what ?
Most of the famous millionaire traders that did such in a short duration occurred in unusual market conditions with extreme volatility (e.g. dot com days). Later, after a few rule changes by the exchanges or whatever...their profit level couldn't be maintained...some just slowly lost it all, some just lost interest even though they were still profitable and others moved into other careers involving the markets.
You can talk to the member name Lescor for more information about such and I believe he falls in the category of some folks definition of someone that began under-capitalized. I think he just lost interest although still profitable but nothing like his profits before.
@wrbtrader
i mean some one with a retail account of less than 5k usd and 600 trading days,do you know anyone who falls in this category?
i mean some one with a retail account of less than 5k usd and 600 trading days,do you know anyone who falls in this category?
rmorse
Sponsor
I don't know those details. My best guess is they started with less than $50K then moved to Florida when they retired in their late 30s when the business got harder with less edge.
rmorse
Sponsor
I would say no to this one.