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

[tommcginnis]

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.

Dah!

 

[Mtrader]

Dah!

да

 

[Turveyd]

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.

Free money no real loss to them to get you hooked, nobody beats Binarys these days odds massively stacked against you.

Amazed they let you take any out mind, must of had enough losers it wasnt worth the bad PR.

 

[Golden Retriever Trading]

I turned $10,000 into $1mil and beyond in 8 moths.

Congrats! Would you share your methodology with us?

 

[lawrence-lugar]

I could probably turn $1,000 into $100,000 in a year...in a paper trading account, given enough accounts/or attempts
Actually, much less than that...if everything goes relatively smoothly...in a much shorter time frame then that.

A previous poster said you only need a 2% return in a day, for 120 days -- I can average way more than that.
To the basic stock investor-type people here...those returns can seem like science fiction, but if you trade the right thing, the right way...it's possible.

But accompishing that in real life is very ballsy, or even stupid. Takes someone...with a black sheep (or swan) personality or mentality -- and skill set.

 

[MarketAddict]

You can turn $1000 to 100k, but the catch is, it's going to take you 10 years to learn how to...

 

[volpri]

You can turn $1000 to 100k, but the catch is, it's going to take you 10 years to learn how to...

ROFLMAO

 

[murray t turtle]

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.

%%
Good points, Simples,not that luck has anything to do with it.Actually common sense can help a lot .The few day traders that made over 100 k or millions did not trade slow; + the much larger %% of investors that do better than 100 k ,took over one year.One big advantage of options or other kinds of trading /investing, is no offense intended, ''lotto is a stupid tax on people that cant do math''

 

[Turveyd]

I'm at the stage where I MIGHT be able to hit 100k in a year, it's taken 14years to get there.

Main issue is getting the time up $100 today which is okay, especially as I have only spent 20mins trading.

Time never enough.

 

[AndDonKnots]

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?

There is one golden rule that used to always keep me in the game. I will share it with you. But please let me know if it is of assistance.

Keep track of the time of your trades. Instead of focusing on the prices pay attention to the time. If you can hold winning trades twice as long as you hold losing trades you should at worst break even over the course of 100 trades. That was taught to me by someone pretty well known in the trading community.