I am 17 years old and im just getting into the world of trading. I have $10000 to start off with and I would like to know how does it REALLY take to build up my capital to $500000 ?
Stick it in a high interest bearing savings or MM account. With a 5.5% yield it will only take about 900 years to reach 500k. Then subtract for inflation.
Come on guys, be honest with him, 401K is where it's at.. go to school.. get an education.. a lot of it.. a PhD (permanent head damage) Get a J.O.B (just over broke) and work for a big company and pray your 401K will save you.. What??? That's what everyone else is doing, it HAS to be the formula for success!!
are you a bot? why do you keep making the new thread with the same question? http://elitetrader.com/vb/showthread.php?s=&threadid=87597&perpage=6&pagenumber=1
"Ok, I'm 5'11" 297 45% bodyfat, I've never been in a gym in my life, i only eat once a day, I won't drink water, i hate it, in fact, i love krispy kreme donuts, but only on the weekends, i've tried that hydroxycutamagiger stuff and it doesn't work, what do you think about trim spa? how long til i can get a six pack? do you know any supplements to help get me cut?" Damn, you can't even get away from these people in the trading world can ya??
What everyone else is doing: Go to school, finance it my taking out massive student loans. Tell everyone you know...family, friends, strangers..exactly how much money you think youre going to make as soon as you graduate. Take the highest paying job upon graduation as to not dissapoint everyone. Realize that you hate your job and everyone you work with and buy the most expensive car and/or house that you can get a loan for to make up for everything else that sucks in your life. Have kids and tell them the reason why you arent going to pay for their college education is because you want to teach them the importance of hard work and independence, and NOT because youre in debt up to your neck and cant afford it. Alimony,child support....gambling debt. Retire and collect social security.
In other words, the American Dream has become the opportunity to spend money you don't have, to buy shit you don't need, to impress people you don't like....