From rags to riches, 700$ to 100k in 2013

@ Put Master

I am not going to quote your rant, it is so wrong-headed there is little point.

What is obvious by now is that you are prejudiced against short-term trading, and as a consequence, rather than providing the best advice to the OP, you advise based on this prejudice.

Hats off to Surf and a couple of others who actually looked at the situation and gave advice based on the reality of it. The only thing I would add is once he crosses the 25K PDT threshold, he should trade short-term. Long-term trading is a luxury reserved for those with the capital to make large dollar gains from relatively small percentage gains.

How much does canned dog food cost? I have seen reports of elderly people on social security eating canned dog food because that is all they can afford. If the OP commits to eating canned dog food every day for a year, will he be able to survive on $350? Your wonderful advice to look at LEAPS in the context of a 50% annual return will yield the OP the grand sum of $350.

You can express your individuality by calling 'cats' 'dogs' if you wish, there is no law against that, but it is generally accepted that absolute dollar gains are a function of account size, and looking at absolute percentage gains minimises that factor somewhat.

As for what constitutes spectacular in short-term trading, why don't you broaden your perspective by reading the Market Wizards series. Schwager is respected in the industry and fisherman's tales do not get one a place in his books. Don't get hung up that many are running funds, nobody gets to run a fund straight off the bat, they make good consistent profits before they attract OPM.
 
Quote from SeventhCereal:

If you think about it, this guy is trying to make a mockery out of this business. No respect for the business or the people involved. I hope he does end up trying and gets crushed.
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As Bill Murray said in Stripes, "Lighten up, Francis."

Why go through life wishing for others to suffer and fail, rather than prosper and succeed?

That $700 isn't likely to make a difference one way or the other in the OP's life if it remains as $700 or if it is converted into $700 of consumables. He obviously has a computer and a place to plug it in, so one can easily infer than he is largley under the care of someone else, perhaps, for example, his parents.

On the other hand, if he managed to take that $700 and turn it into something more substantial, that could make all the difference. And there is nowhere in this world where someone stands as good a chance to take a small capital and turn it into a large capital as the financial markets.

I'm not saying that it is easy, and I'm not even saying it is highly likely. The odds are certainly against him succeeding with such a small stake. But I wish him well, and I hope he succeeds. I would like to see someone here at ET (or anywhere, for that matter) pull an Archie Karas $50 to $40 million dollar run (I'd be quite pleased to witness a $700 to $100K run).

And if some individual does manage to pull off such a run, my additional hope for that person would be this: That having made big money, I pray that he or she takes steps to keep the better part of it, and not to lose it faster than it was earned.
 
Quote from cygnetnoir:

As Bill Murray said in Stripes, "Lighten up, Francis."

Why go through life wishing for others to suffer and fail, rather than prosper and succeed?

That $700 isn't likely to make a difference one way or the other in the OP's life if it remains as $700 or if it is converted into $700 of consumables. He obviously has a computer and a place to plug it in, so one can easily infer than he is largley under the care of someone else, perhaps, for example, his parents.

On the other hand, if he managed to take that $700 and turn it into something more substantial, that could make all the difference. And there is nowhere in this world where someone stands as good a chance to take a small capital and turn it into a large capital as the financial markets.

I'm not saying that it is easy, and I'm not even saying it is highly likely. The odds are certainly against him succeeding with such a small stake. But I wish him well, and I hope he succeeds. I would like to see someone here at ET (or anywhere, for that matter) pull an Archie Karas $50 to $40 million dollar run (I'd be quite pleased to witness a $700 to $100K run).

And if some individual does manage to pull off such a run, my additional hope for that person would be this: That having made big money, I pray that he or she takes steps to keep the better part of it, and not to lose it faster than it was earned.
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Well said!
 
I trade futures with ~$700 hahaha

lol!!!

Still in the game, have doing so since September. I have mostly stayed in the $500 - $700 range. The lowest I have gone is $440 shiiiiiiiiiit lmao and picked it up and went to $1,300 a couple of weeks ago, but I lost them again :mad: mainly because I was being an idiot and not giving too much fuck about it :D (was distracted with other things). But I will probably make it and go on profit.
 
Quote from Look4aSine:

Google: "dfantome"

https://twitter.com/DFantome


The shame of it all.
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" great day today.. prob gonna go throw some 100's at the strip club just for the hell of it"




OP , waste of O2, I hope your child is not in your care. Shitty f*cking human being. Don't ever reproduce again for the sake of humanity.
 
Quote from mm2mm:

I trade futures with ~$700 hahaha

lol!!!

Still in the game, have doing so since September. I have mostly stayed in the $500 - $700 range. The lowest I have gone is $440 shiiiiiiiiiit lmao and picked it up and went to $1,300 a couple of weeks ago, but I lost them again :mad: mainly because I was being an idiot and not giving too much fuck about it :D (was distracted with other things). But I will probably make it and go on profit.
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Anyone with small accounts has the best chance with Oanda because they can control their position size and MM to the T which is one of the most overlooked parts of the game.


Just don't go for ten pips at a time or the broker is the only winner. Go for good chunks on longer time frames.


I guess YM or NQ could be ok for some too provided their MM is able to be followed easily in relation to their account size.
 
Quote from Zr1Trader:

" great day today.. prob gonna go throw some 100's at the strip club just for the hell of it"




OP , waste of O2, I hope your child is not in your care. Shitty f*cking human being. Don't ever reproduce again for the sake of humanity.
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Buddy, if you click on that Twitter link you will see a tweet

@Malaniruth let's go..post it everywhere on every forum..theyll buy it

If you click on that you will see that it is the Twitter feed of a skinny chick with oversized shades. Follow down to her tweet of 19 Dec and you will see,

Who's up for starting and spreading a $NFLX $150/share buyout rumour? Let me know. I'll start it. You spread it.

Cockroaches and rodents.
 
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