How long will it take to turn a $5,000 account into $100,000?

[guy2]

I agree lurefo,

During my first year of colleage I created a system for betting on the ponies and tested it during that year. I collected the race cards from all the races for the year in my province (2 a week) and did all the calculations on Lotus 123.

My worst drawdown was losing 9 races in a row. The money management system was the Martingale System. On the 10th race it was all recouped and plenty won but I knew then that if I'd been faced with that bet I wouldn't have made it - even if I had the money.

That's when I learnt that the martingale system will eventually not work. At some point during your career you'll hit a long enough bad streak to wipe you out using that system.

 

[trade4succes]

what about, only start putting real money on the bets, after 9 losing races ? i sound like a newbie

 

[guy2]

Quote from trade4succes:

what about, only start putting real money on the bets, after 9 losing races ? i sound like a newbie

I know that you understand why trade4succes but just in case there is a newbie reading this:

If you flip a coing ten times and each time it comes up heads, then what is the probability that it will come up tails on the next flip?

Assuming a fair coin, the probability is 50%. The coin does not have a memory and the previous results have no influence on the future results.

 

[areyoukidding?]

Quote from trade4succes:

what about, only start putting real money on the bets, after 9 losing races ? i sound like a newbie

umm. yep.

 

[Johnnyfive]

1 year Dow emini trading 2-4 contracts at a time, 50 dollar loss set gains 200-400 a trade depending on knowledge I knocked off 750 for the day and shut down no need to over trade. When you feel enough is enough time to go. Start to try and blow up or make it in a week you will go broke. 3,000 dollar futures account only trading dow e mini's 3 months 52,375 dollars

 

[nononsense]

Quote from guy2:

...

That's when I learnt that the martingale system will eventually not work. At some point during your career you'll hit a long enough bad streak to wipe you out using that system.

In fact martingale ALWAYS 'works'. You got to realize that it always works both ways!

 

[guy2]

Quote from Johnnyfive:

1 year Dow emini trading 2-4 contracts at a time, 50 dollar loss set gains 200-400 a trade depending on knowledge I knocked off 750 for the day and shut down no need to over trade. When you feel enough is enough time to go. Start to try and blow up or make it in a week you will go broke. 3,000 dollar futures account only trading dow e mini's 3 months 52,375 dollars

Johnnyfive, you lost me a bit there. Did you take a $3k account to $52k in 3 months? Or was that a hypothetical example?

 

[JoeSoMellow]

I'm in the same boat as you. We both have that hump to get over on. I've read that small accounts like ours is limited to 3 trades a week(stocks), until we grow it to 25K. It also probably depends on your broker. I don't know what you're studying to possibly grow your account? But I've been checking out videos on Poor Man's covered puts, married puts, and spread puts on Youtube. Well good-luck on your road to riches.

 

[Mtrader]

I'm in the same boat as you. We both have that hump to get over on. I've read that small accounts like ours is limited to 3 trades a week(stocks), until we grow it to 25K. It also probably depends on your broker. I don't know what you're studying to possibly grow your account? But I've been checking out videos on Poor Man's covered puts, married puts, and spread puts on Youtube. Well good-luck on your road to riches.

The posting you react on is about 12 years old. By now he will be very rich or very poor. He was last seen in january 2006.

 

[lawrence-lugar]

how long it would take you to start with a $5,000 account and turn it into a $100,000 account trading

Comments and criticism welcome.

You need to undertake big risk, and need big talent.
Try it for yourself and see. That's the only way you'll know,

In trading, you can't really compare yourself to anyone else. Trading is very much an individual sport. Alot of interpersonal introspection,

The best traders, in my opinion, are kind of loners (and maybe weirdos and losers, in some people's eyes)

But to semi-answer your question, how many people do you expect to nail a basketball shot from across the court...
Or get laid by a SuperModel,

I can turn $5K into 100K...given enough attempts with paper trading accounts.
Could take anywhere from, who knows...two weeks, or two years...given certain market conditions and luck.