How do I get rich from trading?

Hi guys, I just read a story about a Market Wizard trader named Michael Marcus. He supposedly turned $30,000 into $80,000,000 by trading stocks and futures.

Can someone do this through position trading? Or does it have to be through day trading only?

How much leverage do you think Marcus used to become wealthy?

Thanks

 

*shakes the Magic 8-Ball™*

The answer is hazy. As is the haziness of the Market Wizard.

 

I hear buying low and selling high works, but I've yet to try it.

 

You need to average 100% a year over 12+ years.

Some 200 & 300% years in the mix to make up for any years below 100%

So you need 12+ years of really good markets.

They say the 70s and 80s were good years for trend trading because of the high inflation at the time.

And also because there werent many trend trading funds around at the time.

 

He just couldn't stop at 1 million or 5 - it just had to be 80. Greedy bastard

 

If it was you and you had good trend and methods, would you stop at 80 million?

 

there’s a story of a reporter sitting next to a hedge fund manager and he asked “why do you keep trading? If I had 100 million, I would retire and sit on a beach.”
The hedge fund manager retorted “that’s why you will never make 100 million”

 

Buying high and selling higher is even better (and vice versa for short positions).

Took me two decades to understand and apply this highly counterintuitive yet powerful concept.

 

start with a bigger fortune?

 

actually amazing advice that no one will take.

i also like to say so you think that move was impressive just wait lol.