El OchoCinco, I agree, if I was making money trading, I would never sell anything, until I am 5 millionaire and retired. Then I probably sell it to the highest bidder. Noone is selling something that makes them and their family money.
Wild speculation does pay off sometimes, it is the opposite of 'risk free' as implied. Making a lot of $ is not nearly as hard as keeping it. A 'pro' has a sustainable strategy with layers of risk mgmt to idiot proof their own demise. Observation: when the SEC imposed the PDT rule the retail traders started using highly leveraged instruments - and from that time it became a rarity to hear about anyone that even claimed to get somewhat rich - let alone really did it. Most gave it all back, but at least a lot more traders had their 15 minutes of fame. The crowd of active traders have gotten leveraged to the teeth - and look what happens when so many let their greed do their thinking.
People tend to look for the holy grail. Many sign up for newsletters that promise to make "10% per month/5% per week with no effort", then declare all newsletters as scam. Similar to people who lost money in 2008, declared that the stock market is rigged and decided to never touch it again. Do your due diligence with no bias, don't believe all the hype and fairy tales. Look for consistency and long term track record, based on proven long term strategies. Anyone can create few accounts, put $2k into each of them, then buy OTM options before earnings on high flying stocks, and hit the jackpot with something like Facebook earnings. What does it prove?
That is not how he did it. He kept posting the way up, just click on the links... He also explained some of the trades in advance. Like he described how Tesla will go up just under 400 when it was below 300, then fall back. So yes, that is the thing...
I think it is more feasible to make rapid out sized gains using options than with a futures trading approach. 1. Start with $2,000. 2. Divide the account into 25% plays. 3. Hit an one out sized winner, a 10 bagger, on 1 of the 4. The other 3 lose, but the 10 times winner pushes the account to $5,000. 4. Rinse and repeat. With a little luck a couple of times you are hitting on 2 or 3 winners (not necessarily 10x winners) when you make your 4 options plays. and the account grows rapidly. But for every 1 person that does well enough to grow a $2,000 account into $100,000, there are probably 49 others that lose the initial $2,000 completely and need to start again.
This is of course easier said than done. To get a 10 bagger, you have to take a huge risk. Too many things have to go right. For example, even buying ATM puts on FB before the last earnings would produce "only" 7 bagger. And it was a once in a lifetime event. Even if you get a 10 bagger and bring your account from 2k to 5k, to get from 2k to 430k, you have to do it 6 times in a row. You get it wrong just once - and your account goes to zero. What are the odds of doing it?
That is why I said at the end for every 1 that does it, 49 others fail. Maybe 100 or more fail. The odds are highly unlikely. But there is zero chance to ever build up a ES, NQ or CL futures approach this way. You need to churn out hundreds or thousands of 1-2 lot futures trades with an edge system to grow an account so much.
Would anyone like stories of people who hit the lottery? I know a few. How about a Las Vegas dice player who was sleeping in his car with nothing, won 30 million but ended up broke? On a higher level, how about a professional blackjack player with a small edge who way, way over bet his bankroll before being barred from playing in all the big casinos so he ended up huge winner.... millions winner?
The stupid is pretty strong in this thread, so here is another guy. After being down 90% he brought the account back to breakeven. That is a 900% return in 5 months, if I can trust my calculator:
Well, the 90% drawdown just tells you how much risk he was taking. Just matter of time till his account is toast.