How long to become a millionaire

[bahdabing]

This was in my mailbox and thought it to be of interest. I think the calculations will surprise some of you.

http://www.mypivots.com/calculators/day-trader-millionaire-calculator.aspx

 

[ChkitOut]

I calculated the time it would take someone using the Hershey method to become a millionaire.

It said 27 days.

Neat.

 

[makloda]

I love the average 1.25 point per trade default setting, so conservative!

 

[Hurricane]

It reminds me of the kid who was asked if he wanted $10 to mow the lawn, or alternatively, 1 cent on the first of the month, 2 cents on the second of the month, 3 cents on the third of the month, and so on through the 30th of the month. The later gives you in excess of $10 million.

 

[EricP]

Quote from Hurricane:

It reminds me of the kid who was asked if he wanted $10 to mow the lawn, or alternatively, 1 cent on the first of the month, 2 cents on the second of the month, 3 cents on the third of the month, and so on through the 30th of the month. The later gives you in excess of $10 million.

You might want to recheck your math on that one. I think you must have remembered the example incorrectly. The latter will give you $4.65 in your example.

 

[auspiv]

Quote from EricP:

You might want to recheck your math on that one. I think you must have remembered the example incorrectly. The latter will give you $4.65 in your example.

uhh.. no. 2^30=10737418.24

 

[makloda]

Quote from auspiv:

uhh.. no. 2^30=10737418.24

uhh.. no. (1+30)*(30/2) = 465 cents = 4.65.

 

[sandygray66]

I think hurricane meant:

.01, .02, .04, .08, etc.

not:

.01, .02, .03, .04, etc (which is what he typed).

 

[Hurricane]

Quote from sandygray66:

I think hurricane meant:

.01, .02, .04, .08, etc.

not:

.01, .02, .03, .04, etc (which is what he typed).

Yes. I was hasty. Meant to double the amount daily.

 

[ElCubano]

Quote from makloda:

uhh.. no. (1+30)*(30/2) = 465 cents = 4.65.

that's if they open the door after the first 2 payments.....