A word of encouragement (Brian Watt)
A word of encouragement...
Posted by Brian Watt
I would like to say something: Only 1 out of every 1000 traders will last 5 years and make any real money....but I would also like to show a few examples of encouragement..here they are:
1) Victor Neiderhoffer turned a $40,000 account into $ 22 million dollars, back when he first started trading..although the market collapsed and he ended up with only around $11 million, it was a great trade...
2) Bruce Kovner, perhaps the greatest trader this century ever produced, ran $1,000 to $63,000 in a spread trade in less than 6 months (and i might add he BORROWED the original $1,000 !!!!)...although the spread eventually collapsed, he got out of the trade with $22,000....he then went on to have some of the most amazing years that any trader will ever have...for years and years he was doing 1,000% per year....for years...a record that will never be broken..His net worth is estimated at $700 million dollars...
3) Mike Dever, CEO of Brandywine Asset Management, once ran his account from $5,000 to $60,000 in 5 months, when he first started trading
4) On a personal note, i once borrowed $20,000 and put on a massive 200 lot corn spread, made a quick $30,000 profit and i then went on a streak of 17 straight months of profits...(unfortunately i spent money as if there was no tommorow...more on that later....)
5) Michael Marcus, certainly a "hall of fame" trader, once ran his $700 small account to $12,000, then had some large losses that dropped it back to $4,000, then went on a run and turned th $4,000 into $64,000 in less than a year....He went on to turn profits exceeding $80 million dollars
I could tell you more stories, and perhaps i will post more of these, but for the moment let us just say this: Most of you will fail, but this is still a great business, because of one thing: EVERY DAY WE TRADE, WE GET TO DREAM THE BIG DREAM...i am proud to be associated with all traders, both large and small, because you folks are my kind of people....EACH DAY, WE GET TO DREAM...