I know the trick to making these huge percentage returns over short time periods and I am going to lay it on the table... You know how people say..."Never confuse brains with a bull market"... there is some truth to this. I personally saw a friend turn $30K in over $20million in less than three years without adding a single penny to his account. Here is the trick..... A BIG BULL OR BEAR MARKET! It's that simple. You can talk about Market Wizards til your face turns blue... any of these guys will tell you that they made their huge returns when the market was hot. They pyramid like mad, and use really loose stops. Ed Seykota turned $5K into $15million in 12 years... or something like that... sounds amazing right? If you can average a 1.5% weekly return compounded you can do the same thing... How many of you can make $75 net on a $5000 account in one week? Easy eh? Most people don't work out the numbers to actually get to their goals. Obviously it gets trickier when you are managing $1million plus but you get my point. It doesn't take the holy grail of strategies to make 1.5% a week, just takes a good strategy, sound disapline and the emotional control to keep doing the same thing week after week. For those of you that want the to make your million fast... my advice... start saving your money for the next GREAT market...bull or bear!
Uh, Have you seen this thread? http://www.elitetrader.com/vb/showthread.php?s=&threadid=7942&highlight=50000k That guy wants to turn 50K into 500,000,000. Why are you hoping for such small numbers with a reasonably humble starting account? Granted, he is starting with 50K, but you must have some unseen advantage over him... And, after some advice, here is the same guy deciding to really go for it. http://www.elitetrader.com/vb/showthread.php?s=&threadid=7943 nitro
It's my understanding that Seykota's model account started with 5K is only one of the accounts he had under management. He didn't start trading with 5K! duh