How do I turn a $1000 trade to $100,000 within a year instead of 10 years?

Golden Retriever Trading said:
I think the only answer for the OP is, you have to figure it out for yourself. I'm sure there are a few people that have traded up 1k into 100k, but they're most likely not lurking around here, and if they were, they probably wouldn't answer, as the answer would go into such great detail and be too time consuming, and that time is probably better spent elsewhere. You might get lucky and find the one guy/girl that finds joy in spreading his/her secret. The only way really is to find a strategy that has stood the test of time and backtest it. Even still, the backtesting can yield far better results than reality.
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I turned $10,000 into $1mil and beyond in 8 moths.
 
Larry Williams did it once in 1987 winning "World Trading Championship". He started with 10K, made 11300% in a year trading futures. It can be done with highly leveraged products as futures or options. It is insane but possible and as far as I know it nobody bested him since 1987. One has to be not only the best in the world but I guess the best of the generation. And there is luck of course.
 
nxt7 said:
For the past couple of months I've backtested numerous strategies on indices and stocks (moving averages, macds, stochastics, RSI, momentum, chart patterns, options etc.) but they all seem to break down in short time frames like days or months. For longer time frames (>10 years) they seem to show some improvement in the sharpe ratios, CAGRs and max drawdowns with respect to simple buy and hold, but I'm not really interested in that at the moment. I'm mainly interested in trading in short time frames like days or months.

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?
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Like anything in life, you need to be focused on the process tweaking and monitoring. The trading business is a business. My advice to you is, trade for your statistics, not your profit. There are maby setups that can be prifitable, but very undesirable statistically. Improve your statistics over tume and profits will naturally follow.
 
I turned 6k all i had into nothing with Puts a long time ago, if i had the sense to think its a trap go Calls within a week my account would of been way over 100k :(
 
Van_der_Voort_4 said:
Accept for a few sensible replies reading this whole thread is like watching someone high on drugs.You know looking for the next big "hit".
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Ya like......"How do I turn from being a Walmart night shift shelf stacker to brain surgeon within a year instead of 10 years?"
 
I turned Nothing into six figures over about 5 years trading binary options.
Back in the early 2000s a spread bet company (IG) gave me a credit account.
I don't think they offer credit accounts anymore.
Back in those days Binaries were so badly priced with much tighter spreads, easy money.
 
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I know somebody that went from almost zero to over 100 billion. He is the richest man on earth, although not officially. He had a very good risk management as he is still alive. His opponents had not such a good risk management as many of them are dead.
 
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