Comments on: In theory, could you become a millionaire/billionaire in 10-20 days trading forex starting with £1,000?

By: MVD34

MVD34 — Tue, 30 Nov 1999 00:00:00 +0000

Of course not.

No such "system" has a probability high enough to theoretically work at those rates of return over 20 years much less 20 days.

By: Christopher B

Christopher B — Tue, 30 Nov 1999 00:00:00 +0000

In theory you could do it. No reason why you couldn’t just pick winners every time. But of course if it were that easy I wouldn’t be sitting in my apartment researching stocks right now, I would be sitting on my yacht working on my tan.

Here is a list of things that are more likely to happen than becoming a millionaire in 20 days:

-You get attacked by a Polar Bear in the morning, then a TIiger in the afternoon
-The Queen asks you to marry her
-You see winning lottery numbers in the tea leaves at the bottom of your teapot.

In theory all these things COULD happen. But go ask anyone who deals in FOREX and they will tell you, it is not easy.

By: noble8fold

noble8fold — Tue, 30 Nov 1999 00:00:00 +0000

Your math is correct if you were lucky or fortunate enough to be able to double your investment everyday for 10 days. I wouldn’t however give a trader with no feelings the nod over an emotional but studious investor. Intuition plays it’s part in many experienced investors decisions. Nothing is certain to happen therefore all decisions have an element of chance. The only advantage a trader with no feelings or emotional attachments has over the rest of us is when he loses his money it doesn’t bother him as bad.

By: richard_hushion23

richard_hushion23 — Tue, 30 Nov 1999 00:00:00 +0000

Most Millionaires are driven by success and the rewards are a side-effect of success. You will definitely not become a millionaire if you want to make it fast and easy.

Trading with the expectation of generating a million, or any specific amount is dangerous. Instead, start by gaining the experience you need. Trade on paper or demo accounts first, and then start with a very small amount of money, with the goal of generating a consistent profit, no matter what the amount is. Then, you can gradually increase your trade size.