Turning $500 into $100,000

Discussion in 'Professional Trading' started by Hybr1d88, Jan 26, 2016.

  1. SunTrader

    SunTrader

    Maybe a Suretrader shill. Arbitration in the Bahamas under Bahamian rules. Accounts not allowed to be opened by U.S. citizens. What's the point, other than clicks?
     
    #41     Jan 30, 2016
  2. babybarry

    babybarry


    worthless banter except for narcissist beehavior
     
    #42     Jan 31, 2016
  3. Xela

    Xela


    I'm not quite sure what an "adventure gentleman" is: call me sheltered and protected, but I tend to stay away from websites where those services are advertised.



    I'm afraid there won't be enough of them to constitute an "epic", if your positions will be for about $1,000 each and you're starting with $500 leveraged to $3,000. Because you have no idea of position-sizing (and if you use that "broker" it will probably only ever be on-screen "money" anyway).

    Instead of posting "get-rich-quick" threads in forums, your time would be far better spent reading an introductory trading textbook (not an introductory gambling book).

    Michael Harris's Profitability & Systematic Trading would be a good starting-point for you.

    If nothing else, you'd realise, from reading it, why you won't be turning $500 into $100,000, this way.



    That will immediately stack the deck even further against you.

    If you want to learn why that's so, then take a look at a couple of introductory trading textbooks.

    Van Tharp's Trade Your Way to Financial Freedom and Tushar Chande's Beyond Technical Analysis would both help.

    They both explain at some length and in some detail why systems with win-rates over 50% tend to be more difficult to produce steady profits from than systems with win-rates under 50%. Win-rates, in isolation, aren't significant. Expectancy is significant. But you don't yet know this, and are not going to learn it by posting in forums rather than getting some realistic trading education. Apologies if I sound a little blunt, but that's the way it is.



    The three books above. All three will help you a lot, but only if you read them slowly, carefully and repeatedly, not skipping over the boring bits and the parts you don't understand, and stop dreaming of turning $500 into $100,000.
     
    Last edited: Jan 31, 2016
    #43     Jan 31, 2016
  4. Chubbly

    Chubbly

    The OP hasn't posted in days. I assume he took his $500 and turned it to 0$ already
     
    #44     Jan 31, 2016
  5. classic. open scamtrader account, sign up to furu newsletter, then we will not hear of the nickname anymore few months later.. yawn
     
    #45     Jan 31, 2016
  6. Visaria

    Visaria

    this doesn't make sense to me. could you provide a brief explanation of why u think this?
     
    #46     Feb 1, 2016
  7. smallfil

    smallfil

    Having a high winning percentage does not guarantee winning. Example: You place 10 trades and win $100 each time 90% of the time or 9/10 times. So, you earned $900? However, the 1 loss you incur is $1,200 or more. So, you end up -$300.00 after 10 trades. You do not have an edge! Now, flip it to the other side, you only win 40% of the time or 4/10 and lose 6/10 trades.
    So, each time you win, you win $500, each time you lose $100. So, now, you earned $500 x 4 = $2,000 and lost $100 x 6 =$600 for a net gain of $1,400. Now, you have an edge! Using the winning percentage to determine if a trading system is any good is bunk!
     
    #47     Jul 21, 2018