Well it depends really, let's say this year, on a very very good year like this, I can expect to average 30-40% ROI with 1x leverage (this is an exceptionally good year, normally returns would be somewhere in the ballpark of 10-15% yearly). So with 50 k I could close the year with 20 k profits (that's good money that would allow for a decent living given you're not living in NYC). Now some investors like a little more risk, these investors have no problem risking some 10-15% of their capital for 40-50% ROI a year, I believe that If I had only 50 k to trade with I would opt for this program (about 2x-2.5x leverage), and on a very good year like this, I believe that with this program I would make 100 % ROI (50k) and for a person who's single, 50k a year is a good amount of money, I would even dare to say that you can afford to live lavishly with this kind of money in some US states. To sum it up ill give you some numbers to chew on, Had you invested 100 k 10 years ago with a good investor who is averaging 15-20% ROI a year, you would right now have 600 k, how's that for a return ? And let's say you'd invested 100k 10 years ago in a leveraged fund like the program I told you about earlier, one averaging 40-50% yearly, you would be sitting on 4.2 million dollars now wouldn't you rather play it safe and aim for normal yearly return (have an investor's mentality), or would you rather gamble away your 100k exposing yourself to the market volatility and possibly blowing your entire account in the process ? Never underestimate the power of compounding, I just showed you how steady non leveraged profits can pile up to an eventual bundle.
so it's an anonymous person illustrating a point that is pointless, since rooted in fantasy. so some guy is typing about a fantasy land that cannot be proven, and yet wants us to just believe this is proven to be true? so added value is zero... trading is not about generalizations.....proof is in the pudding.
Interesting response.. I guess it depends how anal you want to be about stuff written by others on forums.. The internet is full of bullshitters, and trading forums are particularly bullshit heavy with fantasists and idiots. Me, I don't care if he's lying; he's only hurting himself. As it happens, he sounds similar to other genuine money managers I've spoken to over the years, so I'm inclined to believe he's genuine. Ah, but following your logic I now have to prove what I've just said, right? otherwise it's just not true.. By the way, where are your credentials? Can you see the glaring problem in carrying this mentality around?
Round 2: Can trade? Have money?: You may operate without silly risk. Can trade? Lack money?: You have to take silly risk until such a time you are capitalised enough not to have to, or take the slow road which wont be funding your life style.
Lucrum, my post was refering to BlueTurtle's post about the 'double in a day' comment: But you're right, he's claimed he's a fund manager. So what? They do exist. Is it so unbelievable that one might wander in here? Are people here really *that* small-minded?? At some point in any trading forums existence, you would hope a few professionals find their way to it, and post something useful or constructive. Or maybe provide an insight other don't have. At best it's useful, and sets your mind on a different path. At worst, it makes for interesting reading. But when that does appear to happen, the resident guard dogs come out growling.. bizarre. I can't quite get my head around it. Perhaps ET should create a sub-forum called, 'fuck off, this is our little world of mediocrity and petty-mindedness' ?? Then there's no misunderstanding..
traders have been fooled already by people writing things on the web, extracting money, and then hurting many traders while making money..... it's is fine we are questioning everything. why not? what if Lebron came on a NBA thread, proved who he was, and taught.......that is GREAT. what if bubba bubba comes on ET, says he is a portfolio manager, spews stuff that noobs might believe, and we have no idea other than writing on a board.......NOT GREAT. so, if you want to help, why not do the FULL DISCLOSURE first. then teach. is it really that hard? if I said I had millions...YES, I would prove it. not that hard.
I did not say I did not believe him. I said I wish I had a dollar for every time a new alias showed up making similar claims. Do I believe him you ask? No, BUT I haven't seen enough to make an accurate judgment yet either. My "no" is based on the statistical probability of my observations here since 2003. And like you I would like to see more professionals here. It would be a pleasant change.
Trust me on this - you would not run around forums proving you had piles of money. It's an ego thing. Having piles of money soon sorts that out. For most it does, anyway. If you ever reach a million dollar account, the very last thing on your mind will be shouting about it. On 'Elite' trader.. A bad comparison maybe, but this is like hanging around the preferred bars of the stock exchange traders in London.. and everytime some guy at the bar says "yeah I made 500k today", you run up and shout "PROVE IT!" Do that often enough, and the SE traders are going to avoid that bar. Of course, this is not a preferred bar of the stock exchange traders.. but then, it also never will be - precisely BECAUSE of this mentality.
Fair enough. I've been around trading forums a similar time. Used to jump on people who were BS'ing. So I do understand it. But I do believe this 'policing' brings a lot of immature crowd-followers out of the woodwork, in the same way riots do. I should know, I used to do it! I cba fighting the bullshitters these days.. and cba being part of the 'forum police' either.. it's such an enormous waste of time, usually. Let the BS'er get on with it, I've got more productive things to think about. But when you step back and view a forum from a distance, it becomes obvious the forum police can spoil a forum much more than the bullshitter. Not the way a 'community' should be. I say take people at face value, and if they're BSing it will be obvious at some point. Then you report them. They always slip up, without exception. Nobody has to start demanding proof or stamping their feet. I'd go as far to say: this behaviour often says more about the 'policer' than it does the BS'er. More than that, it doesn't affect my trading; so why should I waste precious time & energy caring about the authenticity of someone's claims & credentials? It becomes even more inane when you consider that the forum is an anonymous forum!! :eek: