How to turn $1000 into $1,000,000 with options in less than 6 years
- Thread starter crayon851
- Start date
If you read my whole thread, you will know I am not asking anyone to do this.
I just warn those novice that treat options as the lottery ticket or Vegas bet, thinking that he is the "exception good" that will make million from 1K, and most of them (99.999%) end up in the blow up. Karen is the 0.001% and the rest of 99.999% are loss. I hope the novice read this twice and internalized this.
I always advice people to get a proper education from college (preferable PhD) and not those snake oil education from internet guru, and use this qualification as ticket to join the institutional (GS, Citi, Morgan and etc), gain the real trading experience working there, understand what is the market and how it works in real world (in good or bad side) and the most important, save money (from salary and bonus) as your trading capital in future. You just have to resist yourself to become a big spender and avoid renting in fifth Avenue
After you have several millions in your saving, you can leave the job and move to some nice place and trade your own money, aiming 2 to 3 % return a month and have a good life and stay in a cheaper place. I am living in AZ now, low cost and good place to retire.
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How old are you ? How long you are in trading ? Any success story so far ?
Yes, lose it and learn from it. It's the best. Be sure you come back with more money after. It takes more than $1000 to learn.
well not success where I want to be. Im 27, have a useless degree, have military experience and going to commission, working as a plumbing apprentice atm.
Ive been trading since i was 19. havent blown up my account yet, have modest gains, just learned options about year and a bit ago and havent blown up yet, although, i did make some really bad trades that was influenced by ego.
i just developed a strat to follow recently, but before was selling otm puts on bbry.
Ive been trading since i was 19. havent blown up my account yet, have modest gains, just learned options about year and a bit ago and havent blown up yet, although, i did make some really bad trades that was influenced by ego.
i just developed a strat to follow recently, but before was selling otm puts on bbry.
Which if you were to pull it off you'd be the greatest trader to ever have lived. There isn't anybody who has ever achieved long term results of 2-3% a month. If you doubt me, show me audited results of a single person anywhere on the planet that has a long-term 2.5% a month. I'll be waiting...
If you did that, at the end of a trading career you'd own all the combined wealth of the entire stock market. Seriously, plug 2.5% a month into a return calculator and see what you come up with by retirement. The world's first multi-trillionaire is what it ends up being.
2-3% a month, or turn 1000$ into millions, it just makes people sound silly when they throw these numbers around. Makes you sound like someone who started trading last week...
It doesn't. It sounds very old because it's a regular occurrence on forums.
2 per cent a month compound equates to 26.8% for the year. George Soros, Warren Buffett and others have averaged 30%+ for 30+ years.
Marty Schwartz has an audited track record of 20% a month (non compound).
I guess you are wrong, sorry.
Marty Schwartz has an audited track record of 20% a month (non compound).
I guess you are wrong, sorry.