what to do when you know how to make money...

Originally posted by nkhoi
all you need is 2,500 bucks and double it 9 times, and the rest of your money can be spend on whatever you fancy
http://www.marcusgoodwin.com/onemillion.htm
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lol look at the bottom of that page and notice the dates achieved. hint: there aren't any dates...lol

The One Million Dollar Psychic Daytrader Challenge
(Opening balance, $2,500 -- June 2000)
The Nine Plateaus Date Acheived
1 -- $4,000
2 -- $8,000
3 -- $16,000
4 -- $32,000
5 -- $64,000
6 -- $128,000
7 -- $254,000
8 -- $521,000
9 -- $1,024,000
 
That pyramid is achieved each and every day, it's just that it isn't talked about on message boards.

Live Long And Perspire.
 
Originally posted by stock777
That pyramid is achieved each and every day, it's just that it isn't talked about on message boards.

Live Long And Perspire.
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do you mean that it is acheived by traders? or by pump and dump multi-level pyramid schemers?
 
Most people think they can make money trading but really can't. Let me guess, you've done fabulous paper trading and are now ready for Merril Lynch to hire you so you can make millions! The fact that you only have $20k means you haven't made any money at all trading!

If you are so confident that you can make money, just go bang out $5k on your credit card, get up to the minimums and go to town with intraday margin at IB. $100k should be sufficient to start shouldn't it? Whatever you do, don't trade friend/family money. If you think it's stressful losing your own money, try losing theirs!

Sorry to be so harsh but I think VERY few people have what it takes to make it as a trader. You need lots of capital that you can AFFORD to lose, balls the size of cantelopes, and an unbelievable amount of self control. If "knowing how to make money" is the only thing you have going for you then you have NOTHING and will lose EVERYTHING! Be careful. :)
 
Originally posted by huby
Most people think they can make money trading but really can't. Let me guess, you've done fabulous paper trading and are now ready for Merril Lynch to hire you so you can make millions! The fact that you only have $20k means you haven't made any money at all trading!

If you are so confident that you can make money, just go bang out $5k on your credit card, get up to the minimums and go to town with intraday margin at IB. $100k should be sufficient to start shouldn't it? Whatever you do, don't trade friend/family money. If you think it's stressful losing your own money, try losing theirs!

Sorry to be so harsh but I think VERY few people have what it takes to make it as a trader. You need lots of capital that you can AFFORD to lose, balls the size of cantelopes, and an unbelievable amount of self control. If "knowing how to make money" is the only thing you have going for you then you have NOTHING and will lose EVERYTHING! Be careful. :)
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you don't know anything about me and i don't care to prove anything to you. because of that, this is all you're getting for a response. maybe someone else will benefit from your post.
 
Gordon,

There is an old saying the the easiest way to become a millionaire is to start with a Billion and buy an airline. So I guess is also could be said that the best way to make a small fortune trading is to start with a large one.

If what you are doing is working, then work it. Build your account and little by little it will grow. Unless you are day trading I would stay away from margin. (Re-Read your other post from the Yahoo board) Not to be a sourpuss, but another Sept 11 type incident could bankrupt you with margin.
 
The following firms will work w/ you on capital:
Bright and possibly Echo (they only need 10K)

The following firms may hire you:
heartland securities
Worldco
Genesis Daytrade
Sonic Trading
Triton Global
First New York Securities
Schonfeld

If you have a long term track record, good for you. That might land you an entry level trading position. Or you can daytrade futures. New e-mini oil should be 2k or so margin.
 
p.s. i want to be rich while i'm young, not when i'm 83 with a cane and 2 years left to live.
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I understand Single Stock Futures are coming. It may be the answer to all your hopes for riches. They should provide all the leverage you desire and won't have daytrading restrictions or the 25K limitation. You may need to hang out until your're 79 1/2 before the regulatory wrangling ends but look on the bright side, you should be able to parlay your social security checks into a sizable fortune before you reach 83.
 
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