How do I get rich from trading?

Amun Ra said:
The only way someone turns $30k into $80 million is stupid luck with multiple black swan events. Like buying oil when it went negative. Or buying March SPY puts 30% out of the money in December then rolling it into TSLA $1500 calls mid march when TSLA was trading at $400 per share pre-split. Or even buying bitcoin in 2009.
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If you bought oil when it went negative, you would have had to take delivery of it. That month's CEM oil futures contract expired on the day it hit -$40....I think a lot of people piled into that one thinking it was a no brainer, and got completely wiped out, including retail traders using cfd products as a proxy. with of course also the cfd products expiring that day.

No other oil market went negative. Not UK, Not Russian, not Saudi, etc etc.
 
nwoptions said:
Hi guys, I just read a story about a Market Wizard trader named Michael Marcus. He supposedly turned $30,000 into $80,000,000 by trading stocks and futures.

Can someone do this through position trading? Or does it have to be through day trading only?

How much leverage do you think Marcus used to become wealthy?

Thanks
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This guy: https://www.therationalinvestor.com/our-story (Brian Beamish),

Turned $500 into almost $1 million (with accounts at max value), and he done so using the most mind numbingly simple trading methodology, that any fool could follow. I was on his training course (learning how not to trade as far as I am concerned) during 2015/16, watching him buy like $2.50 worth of some worthless crypto scraping along the floor, putting in orders to sell half on doubles (valued against BTC), in such a way that he would always have some skin in the game to sell into, no matter how high the shit coin went.

Easy peasy....

....and I sat and watched him do it, and he made all his trades public.......

......yet he done, it,

and I didn't, and neither did the vast majority of other people who could have easily done the same thing.

.....and there is a mountain of reasons behind why that is the case.

Trading is tough as fuck, and for the 'Get Rich Quick' guys, there are cauldrons full of demons and gremlins awaiting them, that they have no idea about......to anyone starting out, start out with money you can 100% afford to lose, because you are 100% going to lose 100% of it.
 
Handle123 said:
If it was you and you had good trend and methods, would you stop at 80 million?
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I stop at 2-3K in a month and go have fun, let alone 1Mil.

I say that kinda growth, you need moderate % wins x 10-30 times per day think 2% profit, 1% losses and 60% win rate, so day trading is the only way to do it IMHO!!!

I've been near the end of this journey that's took 12years, have been for about 1 year hopefully don't need another but ?? so it's a journey, or just copy what I'm doing and cheat LOL
 
d08 said:
That's the truth. It's to do with being content with less and also having a goal of "sitting on the beach" and not achieving more financially. Similarly when I was a teen, the idea of buying a sports car was extremely motivating, now that I can afford one, the idea has no attraction.
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I can attest to this, when you want it, and cant have it.. when you can have it, but no longer want it..

I have been the biggest fan of cars, since a child. Personally in the past 4 years, I have owned an Austin yellow BMW M4, R35 Nissan GT-R, 991.2 Porsche GT3.

I usually sell them within 6 months of owning them, as the novelty wears off, and it just becomes a liability; speeding tickets, wear and tear, repairs, stone chips, cracked windshields... door dings...

My SUV Benz is 8 years old with 80k miles, I won't be upgrading anytime soon. Lol
 
30K
60K - 1 doubling
120K - 2 doublings
320K - 3 doublings
640K - 4 doublings
1.28M - 5 doublings
2.5M - 6 doublings
5M - 7 doublings
10M -8 doublings


Double your money 8 times and you too can become rich :D

Easy Peasy :D:D
 
nwoptions said:
Hi guys, I just read a story about a Market Wizard trader named Michael Marcus. He supposedly turned $30,000 into $80,000,000 by trading stocks and futures.

Can someone do this through position trading? Or does it have to be through day trading only?

How much leverage do you think Marcus used to become wealthy?

Thanks
More...
Have a sweet dream....... It won't happen to most (99.999%) people. :rolleyes:
 
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