can i retire in 5 years starting with 5,000$ ?

noisebasement · May 9, 2007

Let's face it, most people lose in the markets. Obviously everyone goes into
Forex market i find is the hardest, mainly do to the high risk leverage that is provided. advice: dont use the leverage, use maybe 5:1 at most and instead of day trading, look for the longer trend with a more loose stop.

LarryS · May 16, 2007

Quote from noisebasement:

Let's face it, most people lose in the markets. Obviously everyone goes into
Forex market i find is the hardest, mainly do to the high risk leverage that is provided. advice: dont use the leverage, use maybe 5:1 at most and instead of day trading, look for the longer trend with a more loose stop.

I agree with you on leverage....but many people get sucked into 400:1 mostly simply because they only have $300. Brokers really shouldn't offer accounts for less than a few grand...people that have less than that in risk capital really should not be allowed to trade.

AC3 · May 16, 2007

Think of all those suckers playing nickel slots......

ZoneTrooper · May 16, 2007

Quote from LarryS:

I agree with you on leverage....but many people get sucked into 400:1 mostly simply because they only have $300. Brokers really shouldn't offer accounts for less than a few grand...people that have less than that in risk capital really should not be allowed to trade.

I would agree with you, except for those trading with Oanda.

The key is successful trading is money management, and since with all brokers but Oanda there is NO way to properly manage your account when one trade pretty much leverages you out more than you should be.

Note, typically, I only risk .05 % on anyone trade decision, and I trade no more than three times a day.

My key to making money is trade everyday. But don't over trade your account. And don't risk too much on anyone trade. Those who bust their accounts loose all. Those who manage there accounts, and are able to be around for the long haul.

Note, last year I only made about 35%, the year previously 120% in both of my accounts. I have a feeling that this year I might be able to close out the year at around 130%.

Free Thinker · May 16, 2007

âIf you can afford $100
a week, you could have a
$6,000,000 retirement nest egg.â
âLouis Navellier

grazia_s · May 17, 2007

Quote from ZoneTrooper:

I would agree with you, except for those trading with Oanda.

The key is successful trading is money management, and since with all brokers but Oanda there is NO way to properly manage your account when one trade pretty much leverages you out more than you should be.

Note, typically, I only risk .05 % on anyone trade decision, and I trade no more than three times a day.

My key to making money is trade everyday. But don\'t over trade your account. And don\'t risk too much on anyone trade. Those who bust their accounts loose all. Those who manage there accounts, and are able to be around for the long haul.

Note, last year I only made about 35%, the year previously 120% in both of my accounts. I have a feeling that this year I might be able to close out the year at around 130%.

I agree but it really is your responsibility and not the Broker\'s ie Oanda. First of all you should make sure you can put about $5000 into an account. Secondly, make sure you adjust your leverage to a better level and then use a good risk to reward ratio and, for example, I have rule that I only use 10% of my equity to open new trades. I have managed to write out these rules for myself when i first started trading and follow them religiously. It has helped a lot.

Kevin Schmit · May 17, 2007

Quote from vhehn:

âIf you can afford $100
a week, you could have a
$6,000,000 retirement nest egg.â
âLouis Navellier

Over what period.

Assuming 40 years, from 25 to 65, that is a
compounded rate of return of only 12.5%

WTB · May 24, 2007

Quote from mr double:
10% each month(that should be easy)

I know I am very late for this thread but anyway.

""10% a month should be easy""... man, I wonder what kind of stuff do people have in their heads... If it was that easy, why is not everyone turning 5K into millions within 5 years?

Seriously, some people gotta get their feet back to the ground.

deviltrader · May 24, 2007

Quote from WTB:

I know I am very late for this thread but anyway.

""10% a month should be easy""... man, I wonder what kind of stuff do people have in their heads... If it was that easy, why is not everyone turning 5K into millions within 5 years?

Seriously, some people gotta get their feet back to the ground.

what do you expect, this forum is mostly kids and former gambling addicts.

Thunderdog · May 24, 2007

Quote from mr double:

...i have only 600$...

...10% eacn month(that should be easy)...

If you invested one penny at the time of Christ and compounded it annually at only 3% for 2,000 years, you would have $472,551,787,558,269,000,000,000.00 at the end of the period.

If you had managed your money a bit better and were able to achieve an annual compound rate of 5%, then that same penny would have grown to $23,911,022,046,136,200,000,000,000,000,000,000,000,000.00 at the end of the period.

So imagine the embarrassment of riches that $600 could earn at 10% a month into perpetuity.

At the count of 3, I will snap my fingers and you will wake up.