Turning $500 into $100,000

Hybr1d88 said:
My $500 will be boosted to $3,000 using the 6:1 margin supplied by Suretrader, where I plan on opening an account.
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I think success would be more likely if you took, say $1000 and opened a futures account here in the States and started trading one lots of the ES or NQ or YM. Not saying it would be easy, or even easier, but definitely more likely, in my opinion.

Of course, if you don't have a strategy and a trading plan you're toast already, you just don't know it. If you are intent on trading stocks, my suggestion would be to pay attention to gap trades.

Here's to you and your dream of becoming a trading god!
 
fortydraws said:
I think success would be more likely if you took, say $1000 and opened a futures account here in the States and started trading one lots of the ES or NQ or YM. Not saying it would be easy, or even easier, but definitely more likely, in my opinion.

Of course, if you don't have a strategy and a trading plan you're toast already, you just don't know it. If you are intent on trading stocks, my suggestion would be to pay attention to gap trades.

Here's to you and your dream of becoming a trading god!
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Of course, if you have a strategy and a trading plan you're toast already, you just don't know it. (my unproven truth against yours, I'll see you and raise you one.)
 
lawrence-lugar said:
I hope you reach your goal, i'm cheering for you.:p -- but I would bet against you. with options. all in.
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No room for error starting $500. Even someone who is consistently profitable has to be able to survive two or three losses out of the gate with enough margin left to take the next trade. Start with one lot $25000, and three losses might be $450 to $500, so plenty of margin left to take the next trade, and if you have an edge, if profits are bigger than your losses and you win more often than lose, you will eventually grow that $25k into something big. Perhaps someone like @i am nobody might be able to start with 3K, even as little $1K, perhaps, and even if he started with 2 or 3 losses at a low-margin broker he might still run that $1K to $100K with by adding size at reasonable equity increments. But starting with $500 trading stocks at an unregulated off-shore broker? I hope he does it, but the odds would not appear to be on his side.
 
fortydraws said:
No room for error starting $500. Even someone who is consistently profitable has to be able to survive two or three losses out of the gate with enough margin left to take the next trade. Start with one lot $25000, and three losses might be $450 to $500, so plenty of margin left to take the next trade, and if you have an edge, if profits are bigger than your losses and you win more often than lose, you will eventually grow that $25k into something big. Perhaps someone like @i am nobody might be able to start with 3K, even as little $1K, perhaps, and even if he started with 2 or 3 losses at a low-margin broker he might still run that $1K to $100K with by adding size at reasonable equity increments. But starting with $500 trading stocks at an unregulated off-shore broker? I hope he does it, but the odds would not appear to be on his side.
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I don't know, I opened my illegal sports betting account with $100 4 years ago. It's been as high as $160 and currently is sitting at $50, but I have a big $3 on Indiana to go all the way and when that hits it pays $120. (what I lose on football and basketball and golf and womens FIFA I make back up betting the under on the National League.)
 
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