Did anyone make a lot of money this year? This trader said he made over a million from 50k...
- Thread starter dtryan
- Start date
I highly doubt it. Successful traders who do train people do it in-house and don't sell courses, lol.
He didn't want anyone to know, that's why he told you. Sounds reasonable?
Between 6/6/19 and 6/1/20, I made about 140% ROI. I tweeted every trade BEFORE I did it. See @RandomFour. I am continuing to tweet trades, but I am not guaranteeing that I will go for another year. I'm getting old. 
I don't sell courses or software. I don't write books, newsletters, etc.
I don't sell courses or software. I don't write books, newsletters, etc.
Unless you hold & it gaps down overnight and your market order never triggers. Or you have a flash crash and are using a stop loss instead of a stop limit order so you're filled at the bottom.
Between 6/6/19 and 6/1/20, I made about 140% ROI. I tweeted every trade BEFORE I did it. See @RandomFour. I am continuing to tweet trades, but I am not guaranteeing that I will go for another year. I'm getting old.
Post a blotter or stop blowing yourself.
It's easy to get stressed out doing this.
Look at professional traders. There is a big turnover ratio for mutual fund managers etc.
A lot has to do with performance, but reading the stories of GS traders, it sounds like a miserable life.
But, when you get to a certain level of success in life, you get a bit of satisfaction from teaching others. "Teach a man to fish and you feed him for life"
But.......I'll be the first to suggest that most of the people on Twitter selling trading secrets, and trading lessons on weekends at a local hotel are probably failed traders, and they make more money from overpriced seminars than their own trading.
-----
"Sell a man a fish, and he can eat for a day, teach a man to fish, and you lose a great business opportunity.............Karl Marx
Unlikely. In the current market I would say a $50k account could have a slim to fair but nowhere close to certain chance of doubling in a couple of months if it were traded very aggressively. Then you got a $100k account. Well now it is getting harder to put it all in trade. Maybe you double it again in 4 months. So now $200k to trade with. Getting harder to put all that money in play, in the more volatile stocks, and be able to make quick, clean exits. So now maybe you double again in 6 or 8 months. That is still doing pretty good. The problem is, still not up to the $1M mark and the year is done. And trading gets tougher and tougher. Tougher to keep up the phenomenal gains, anyway.
Last few months have been great for trading. A small account can be doubled pretty quick. I am talking an account small enough to quickly replace from your checking account or under the mattress money or working a lot of overtime the next few weeks. An account you don't mind risking big. Gambling money. Something where you might take a good looking trade with all you got and all your margin. With a "proper" sized trading account, you aren't gonna do that. You are going to be a lot more conservative with money/risk management, and your exits will maybe take longer, with more price slides, if you trade $50k the way you might trade $1k.
So no, I won't say it is impossible to trade $50k into $1m in half a year, but I will say that even right now it is unlikely. Regardless, don't drink the koolaid and don't buy what he is selling, whatever it is. He really shouldn't have time to do anything but see to his trading.
Last few months have been great for trading. A small account can be doubled pretty quick. I am talking an account small enough to quickly replace from your checking account or under the mattress money or working a lot of overtime the next few weeks. An account you don't mind risking big. Gambling money. Something where you might take a good looking trade with all you got and all your margin. With a "proper" sized trading account, you aren't gonna do that. You are going to be a lot more conservative with money/risk management, and your exits will maybe take longer, with more price slides, if you trade $50k the way you might trade $1k.
So no, I won't say it is impossible to trade $50k into $1m in half a year, but I will say that even right now it is unlikely. Regardless, don't drink the koolaid and don't buy what he is selling, whatever it is. He really shouldn't have time to do anything but see to his trading.