How do I turn a $1000 trade to $100,000 within a year instead of 10 years?
- Thread starter nxt7
- Start date
Heh, very snarky. :-\
You'll need volatility like we had in 2008 & 2009. During the credit crisis Cornwall Capital turned $110k into $130M in three or four trades. Details are in Michael Lewis' "The Big Short".
Last edited:
Looks like half a key. And in Australia and Japan it goes north of $200 a gram. Considering the high price countries are probably more cut than south America, you might even be able to cut it 30% and still be competitive. If you do the math it'll net you over 100k if you sell it in grams and 8balls. Don't get caught in Japan though. Half a key will surely land you in the pen close to a decade if you don't get early release.
This is actually possible. Very difficult, but possible, small account sizes have advantages.Gaining 2% daily, after 120 trading days, the account of 1000 reaches the coveted 100 000. No dumb luck, just the right strategy ...
Upd. Oh, Mysteron, you are a minute ahead...
A long time ago, I met this multi- millionaire and I asked him how did he made his millions. He said he did not. He said, he was a shoe sales clerk in a department store and one day this beautiful young woman came in to buy a pair of shoes. He told me that, he rubbed her feet very gently, while putting the shoes on her feet, and asked her for her number before she left the store; went on a date after wards, got married and few months later, her mom died and left her millions in inheritance and that is how I became a millionaire
See told you it can be done
So just how do successful day traders even do it? Obviously conventional strategies are not going to work based on my backtesting research. Or I hate to say, is it just dumb luck to strike gold in the short term?[/QUOTE]
They do it with a much larger account; $25,000 min to day trade stocks, and leverage. I have given your question some thought, and the only trading strategy I could come up with starting with $1,000 is a forex micro account.
Trade London open till midway through New York. Pick 6/8 pairs with largest volume, tightest spreads, and largest ATR. Stops loss set at 2% on 15 min charts. No more than 2 trades on at any one time, maybe 3 if pairs are uncorrelated. No set TP, let the winners run(much easier said than done). Closer all positions well before end of New York to avoid large spreads/low volume at rollover. When your Forex account grows to $5,000 transfer money to a futures broker and trade the NQ on the CME. IF you can average 5% per day ($250), and pyramid the contracts, you will have your $100,000 in under a year.
To quote Yogi Berra;" In theory, theory and practice are the same. In practice they are not". In the real world you have higher odds of hitting the lotto jackpot than taking $1,000 to $100,000 by trading. Sorry, but if it was that easy everybody would be doing it. Lou
They do it with a much larger account; $25,000 min to day trade stocks, and leverage. I have given your question some thought, and the only trading strategy I could come up with starting with $1,000 is a forex micro account.
Trade London open till midway through New York. Pick 6/8 pairs with largest volume, tightest spreads, and largest ATR. Stops loss set at 2% on 15 min charts. No more than 2 trades on at any one time, maybe 3 if pairs are uncorrelated. No set TP, let the winners run(much easier said than done). Closer all positions well before end of New York to avoid large spreads/low volume at rollover. When your Forex account grows to $5,000 transfer money to a futures broker and trade the NQ on the CME. IF you can average 5% per day ($250), and pyramid the contracts, you will have your $100,000 in under a year.
To quote Yogi Berra;" In theory, theory and practice are the same. In practice they are not". In the real world you have higher odds of hitting the lotto jackpot than taking $1,000 to $100,000 by trading. Sorry, but if it was that easy everybody would be doing it. Lou
Long-term you can trade poorly, but anyways become lucky. Long-term it's easier to hold onto longer trades that can pay for your losers. Not so in short-term. If not adequately protected, any short-term account will either blow up or die by thousand cuts.