Do you think that commodity options trading could create a billionaire in his/her early to mid 20s?
I want to know your views and opinions here as to wether you think that commodity options trading could create a billionaire in his/her early to mid 20s?
Also, I heard that a certain Richard Dennis traded commodity options, and in 10 years he turned his $400 into $200 million. Think if you started with $2k, in theory you could have started at my age (18) with $2k and ended up with $1 billion at 28, right?
What do you think?
about 1 year ago
If you KNEW what was going to happen there is no limit to the amount that could be made. A person could easily realize a return of 100% daily on each round trip options contract (one buy, one sell) if they could correctly pick the direction a stock with large option volume was going to move. The problem is being right 100% of the time.
about 1 year ago
If you always won, but trading FX, Stocks, Commodities, options etc doesn’t work like that.
It’s not what you make it’s what you keep. Mastering risk management, psychology and developing and improving a trading strategy that works for you takes a number of years.
Focus on making your first $100k before the million, and then focus on the million before the billion.