It is very simple, you have to be in your 20s and have a $1000 to start with and then you need to make 2% per month (compounded) for the next 60 years. So when you get to your 80s you will be worth about $1.5 Billion dollars. So for you guys who are trying to make 10% or more per month, now you know you can have a much smaller goal of 2% per month and still be rich. The purpose of this post is not to talk about compounding rather it is about taking risks vs. rewards. Everybody’s goal when it comes to trading should be: realistic returns and small draw downs.
my account is currently running at 70% per month so i should be a billionaire in a few weeks haha
I’ve got so many noughts after my balances now, I don’t know if I’m a billionaire or not, I’ve got 23, is that en00000000000000ugh?
sounds like your getting real close, i still have a way to go my account really is running at 70% profit but I only started with $150 lol
why should I care to become billionaire at my 80s? all the fun will be gone and maybe I’ll not remember where that money is.
I disagree, I’m 834, I remember the very first foreign exchange transaction, I swapped a washer for a French gold coin, make your calculations - I think you’ll find I got past the billion mark when I was around 322, but heck it was quiet then for couple of hundred years, and the spreads, eye watering, I think I used the pig and horse method and paid a chicken for the spread.
The problem is that the people who don’t have the patience to wait awhile to be rich also don’t have the patience to learn how to trade and wait for good setups!
this is not related, should you be patience for 60 years to learn to trade?
I would say most new traders expect to be making money within 6 months. A lot will expect within 6 weeks. Some get frustrated and quit, and some adjust their expectations and move on to the next level.
My favourite example of compounding is from Futurama, when Fry goes to his bank from 1000 years ago. He then finds out that his $0.93 balance from 2000 has compounded to $4.3 billion in 3000, hahaha. The joke is he’s excited about the 93 cents, then passes out when he hears the bigger number 
$4.3 billion in 3000
at the rate we are going that might get you a happymeal:D
yes and further on from that, people are quite happy to spend 3 years and a lot of money going to college to get a degree with no guarantee of a job thereafter, and yet expect to learn a skill that will guarantee a substantial income in the long run in no time, without having to go to work and deal with idiots all day along.
I totally agree with that. At 80, you have lost all the sharpness you got when you were young.
That’s horrible :eek:
I guess he’s not that bright after all is he!
I got the Food!! Now can you give me his address? So I can hire him! (PhD in Mathematics, Physics and Computer Science preferred)
Love the picture’s message. In today’s time, college and post-college education cannot guarantee money in your pocket and food on your table.
At least Local Government will absorb some of them, there’s no place for academics in business.
I’d also say thats horrible 4 sure, fx or not. I’m almost thru a BA(MonetaryEcons), had to defer 2yrs back to go start a street hustle (money probs), and marry (if lucky). The later hasn’t happened yet, but forex did; I run three small businesses along fx, back to school by sep. Saying education isnt a key cant be quite accurate, but I know it isnt the only key, neither is it the master key - the master key is something different and rare. I’ve observed, though, that anyone savvy will want to know in detail what it is that colours up the screen like that, but mostly thomed (scholary) don’t stick around for more since they have a fall-back for life, the half thomed streethustlers are the ones that soak in it, the non-schooled have bleak hope in fx. It all depends on how badly one needs the cashflow, and how risk-savvy one is, and how ill-adviced one isnt.