While this process will eventually run into scalability issues, and of course you will have to pay taxes on the winnings, this actuall is a very conervative approach to become wealthy. It's your inability to understand it that shows your limitations, not those of the poster.
I traded 155,000 XLF and 36,000 SPY in a single position today (in a retail account). Thanks for your concerns about my "limitations", but I think you were projecting your own self doubts. It's much easier to make $250 a day on your $25000 E-Trade account Mandelbrot, than to make tens of thousand everyday on a large retail account. It's your inabilty to comprehend those types of numbers that shows you are you piker.
this thread is a perfect example of who the "dreamers" are and the real traders. And what do you know???.... all the cheerleaders for a certain person on here who will remain nameless..... are all in agreement with the premise that.... ........ ..... "yes..... you can go from 10k to 1 bil in a few years..... if you unlock the power with in your mind......." LOL LOL LOL LOL......L O L !!! dreamers..... so much like a cult
Mandelbrot you got put in your place on that one. It's about time. Now let the flame wars begin. Post a bunch of silly pictures and make up some stupid names to call him since that's pretty much the extent of your contribution around here.
Anyone who thinks 1% per day is "easy" and "very conservative" is obviously either 1) A papertrader. 2) Trading a puny account. 3) Working the midnight shift at Wendy's with access to a computer and trolling for an argument.
surely thats what it is..... darn, they got me on that one..... for a minute there i though they were serious! good one guys.....
Years ago I read an article about Stevie Cohen, the author wrote that he showed up for work at the SAC building in the morning and for the next few hours, he would make a few million dollars. At that time, I didn't know a thing about trading and I still don't know how Cohen trades, but making money by simply showing up is something really cool. Imagine Cohen telling a friend at a party: "Well, I just show up at the office for a few hours and when I leave, I will be a few million dollars richer."
The only guys making money "just by showing up for work" are the firms employees (and the owner...although he's making tons of money whether he shows up or not).
Does this come close to home illiquid? Acrary explaining his concluding insight just before he left ET for good: In short what I found was a handful of simple strategies in a couple of markets were just as effective as all the years of work I did on finding market inefficiencies, measuring them, and exploiting them with tight edges. I had to give up my basic market premise and now go with "the markets are mostly inefficient and chaotic with small periods of stable predictability but with large periods of stable recurring strategic themes." In short, at 50 I feel like an old fool. Squandering my time trying to figure out the optimal way to fish in a pond when all I had to do was turn my back and throw out my line into a ocean full of opportunities. see Acrary's complete post here http://elitetrader.com/vb/showthread.php?s=&postid=1095983&highlight=squandering#post1095983