Are there any millionaire traders who started undercapitalized?

so in your opinion , even a hypothetical trader who got funded by a prop firms like TopStepTrader still have a small chance of growing account according to our statistics ?

 

Most of the traders profiled in Market Wizards started under capitalized.

 

@Al_Bundy ,can you provide some examples (especially in future trading)

 

There were several stories during the dot com days about a few retail guys starting with such a small account size and becoming a millionaire in about 2 years but the same guys lost it all or most of it.

Once again, those stories occurred soon after unusual market conditions that lasted more than a year.

Anyways, I never believe such stories because there was no verification of the performance...just stories or rumors.

Do I think its possible ?

No but then again, if there's unusual market conditions in combo with someone taking enormous risk with their profits & capital...anything is possible especially if someone else is paying for that trader's living expenses while he/she is trading.

 

Not true via the definition (Commodity Trader) has given:

1) Started with less than 5k turned it into a million dollars
2) Did such in less than 600 days
3) Was a retail trader when such was accomplished

Some of the Market Wizards did trade during unusual market conditions. Thus, they did have a key ingredient (in the right time and right place).

 

Now you are changing the question. The answer is now yes. There are plenty of prop traders who were funded by and used prop firm leverage that have become millionaires. Some post on this site. A few started with nothing


surf

 

Yep...he surely did change the conditions.

 

Morse is right Commodity trader...only '"back in the day" ( like us ol folks over 50) when floor trading was the rule. Their maybe a few who still exist in the Crude pit...but highly unlikely and you will never know who anyway.

If your looking for a fast score with $5,000 to really gamble away...go long commodity options way otm like coffee or OJ -or Soybeans and try for the 15-1 odds of hitting a weather disaster.

I hit one by taking an educated guess in my second year trading in Dec 1983 in the OJ...and after that i thought i was a genius...and after that....we all know the conclusion of THAT story!!!!!!!!!!!!

 

so do u think even a funded person on TopStepTrader can grow his/her account (which is a retail account) into millions in 600 trading days or so >?

 

if u know a few, i would be thankful if u can mention some names