How to be a millionaire?

Discussion in 'Trading' started by jeliconline, Feb 2, 2018.

  1. Hey guys,
    silly question , but i'm doing a cool school project and would appreciate intellectual help please.

    Pretend that you have 10K and you know without a doubt that the US market was to boom like never before.

    What would you trade to make a million dollars?

    appreciate your strategies please.. :)
  2. Options (OTM calls on the broad market index, speciffically) would probably be the most straightforward instrument to use.
    Handle123 likes this.
  3. Grow and compound simple directional option plays, without a doubt. -- if you know the future, and want to be a millionaire.

    Today's 666 point drop in the DOW, or 2.5%, is absolutely nothing...compared to the change/gain in an option.
    Last edited: Feb 2, 2018
  4. maxinger


    Nothing silly about the question.

    First you must dream of becoming a millionaire.
    Then you must have passion for trading.
    And you must be be able to manage your mind and emotion.

    Well. If you have 10K, then you can trade with margin account ie use leverage.
    Trade derivatives like futures and/or options.
    Trade index, energy commodities, soft commodities, metal commodities,
    interest rates, currencies ... futures/options.
    You can even do vertical / horizontal spreads (ie buy A-B, sell A-B)
    on those futures/options.
    So you see. There are lots of possibilities for trading.
    Definitely do trading with demo account before you go live.

    don't worry if US market is not going to boom.
    If market burst, you also can earn money from it.
    Handle123 likes this.
  5. d08


    I think you completely missed the point of his question or more likely didn't read the post.
    It's an intellectual exercise...
    Pekelo and SunTrader like this.
  6. Why?
  7. johnnyrock


    Set up an account with Global Futures and leverage that 10k thru futures contracts - ES, NQ and YM.

    As the equity grows, buy more contracts.
    bitcon18 likes this.
  8. schweiz


    You are making a huge mistake.

    All people that went broke, were sure they were going to win. If not they would never have taken that position.
  9. Put the money in the bank with 2-3% anual interest, contribute each year $2000, in 30 years you will have the million. :fistbump:
  10. Visaria


    Great question. Makes one think. Lots of markets out there (e.g. individual stocks, currencies, commodities etc). If you really have conviction on something moving up strongly (or moving down a lot), how would you play it?

    My answer would be deep out of the money options, may be 6 months out or 1year. May be atm options too. Ladder them up as the underlying moves in your favour.
    #10     Feb 3, 2018