Are there any millionaire traders who started undercapitalized?

Trader22 said:
futures no, options yes
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Futures too. But leveraged of course.
I speak about 3k USD into 200k USD in two years. Easily.

Do the math yourself:
  1. Starting capital: $3000
  2. Max contracts in compounding: 100 ( so compounding limited to 100 ctrs)
  3. Marging: $3000 (that's the highest margin you can take for the starting capital)
  4. Commission: $5 per RT
  5. Profit: 1 point net a day
  6. Profit in $: 1.086.555
If you start with $5000 and a margin of $5000 profit is still $304.655.
 
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i am nobody said:
Futures too. But leveraged of course.
I speak about 3k USD into 200k USD in two years. Easily.
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It's good to have a plan and be optimistic. But IMO, this is not the right plan. The plan should be to train yourself to find an edge and exploit it. Manage your risk and grow your account. What you are expecting of yourself is perfection which is rare. I will say over and over in this forum that starting a business under funded is setting yourself up for a rough future.

I wish you well and hope your reach your goals.

Bob
 
Trader22 said:
You are just very wrong here. I know multiple traders who have taken under 10k to over 7 figures. One guy starts with 1k a week and makes 5 figures a week consistently trading weekly options. I myself i consider still learning, but have made a decent income from day trading options. For my young age, my trading income is incredibly significant and i have been trading less than a year. I blew up my first account, then was mentored slightly by a professional and never looked back. If you don't believe me, then cool. Does not bother me at all
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What kind of options do you day trade?
 
rmorse said:
It's good to have a plan and be optimistic. But IMO, this is not the right plan. The plan should be to train yourself to find an edge and exploit it. Manage your risk and grow your account. What you are expecting of yourself is perfection which is rare. I will say over and over in this forum that starting a business under funded is setting yourself up for a rough future.

I wish you well and hope your reach your goals.

Bob
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I daytrade over 20 years. That 1 point a day was very pesimistic. :) But will not post reality. Just wanted to show what 1 point a day can do.
 
Trader22 said:
You are just very wrong here. I know multiple traders who have taken under 10k to over 7 figures. One guy starts with 1k a week and makes 5 figures a week consistently trading weekly options. I myself i consider still learning, but have made a decent income from day trading options. For my young age, my trading income is incredibly significant and i have been trading less than a year. I blew up my first account, then was mentored slightly by a professional and never looked back. If you don't believe me, then cool. Does not bother me at all
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I totally believe you-- its doable in options but the risk of ruin is very high-- my comment was stock market related. . Enjoy it!!
 
marketsurfer said:
What can it do?
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What I wrote in previous postings today.
But remember I said CAN. CAN means theoretically, reality depends from the traders qualifications. If you want to trade you should first try to find out what you will trade. So studying the potential is part of that process, because it can hugely influence your profits and also losses (margins, leverage, behavior of the market, result of compounding...).
 
Trader22 said:
have made a decent income from day trading options. For my young age, my trading income is incredibly significant and i have been trading less than a year.
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...Have you bought any cool toys :D -- like a fancy watch, or a sports car? or have a fancy upgraded girlfriend now...
 
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