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  1. #1
    Specialist Member pinoyoptions's Avatar

    Binary millionaire! Is it achievable or not? !!!

    I keep on thinking is it possible to be a millionaire in trading binary options?

    Surfing around the net, I came across with other trading community, They posted this simple calculation relating to achieving millions of $$$ under 15% percent increase of your fund monthly in 5 years. Starting with just 500$ ...



    What is your opinion? Is it really possible....

  2. #2
    Master Member Bogdan G's Avatar
    If Math says it's possible, then it is. However, that is not the real question in my opinion.
    The real questions for me are: can a trader bring in consistent 15% every month for 5 years? What about the psychological pressure which increases at a faster pace than the account balance?

  3. #3
    Master Member Bogdan G's Avatar
    Also, this calculation assumes that no single dollar is withdrawn during the 5 years. If any withdrawal is made, the calculation must be modified. So I hope nobody understands that you can have the income shown in the yellow cells and achieve 2 millions.
    Yes, becoming a millionaire is achievable and possible... but it's always easier on paper

  4. #4
    Specialist Member marc's Avatar
    Yes, I think psychology/strong nerves + money management is key ...

    Before I started trading I made a quick Excel-table and just dropped some numbers in ... and played around with that ... like 5 trades per day ITM, 80% return and 3% risk ... actually after a few months the numbers get replaced by ######## and you would be Number One at the Forbes-list

    Very surprising! ... and it looks so doable ... but actually I am not sure, that I have the cojones to set 15.000€ or even more per trade ... Atm, I am still trying to leave my fingernails intact, when setting 100€ ...

  5. #5
    Veteran Member Ammeo's Avatar
    Offcourse it is, becoming a millionaire trading any asset by any method isnt that difficult. Million isnt that big thing in todays world.

  6. #6
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Image header says "$500 5 year binary options Investment Plan". Really? Actually I dun see any plan, to make millions, except an image which is most probably taken from a spreadsheet. So the header should be "IF you can achieve 15% per month starting with an investment of $500 and keep compounding your return, you would be multi-millionaire by the end of 5th year and billionaire in 10th year.

    And why does it stop at 5th year? Lets drag it a bit to make it an attractive dreamy calculator. By the end of 10th year you would have $9.6 billion ($9,609,722,501). By the end of 15th year total amount would be $42.129 trillion. Wanna earn more? Drag it further .




    P.S--> I made plan of 15 years (just for you) so after making 42 trillions, dont forget to give me my share . Please dont drag it further .

  7. #7
    Specialist Member LesterK's Avatar
    Haha, this is a simple imagination. Yes it is not that hard to make one million, probably if you start with $10K it is even easier to happen, but that is such a simplification. It never happen in the real world that way. You will have wining months and losing months. You will grow but much slower. If try to grow with that speed you will lose it all sooner or later. You could make one million, but than you will lose it if you continue to trade aggressively with it. However there are some people like Larry Williams who succeeded in such endeavors, but they are rare examples.

  8. #8
    Specialist Member pinoyoptions's Avatar
    Quote Originally Posted by Bogdan G View Post
    If Math says it's possible, then it is. However, that is not the real question in my opinion.
    The real questions for me are: can a trader bring in consistent 15% every month for 5 years? What about the psychological pressure which increases at a faster pace than the account balance?
    I think it is possible for as long you start with big capital and strictly follow your rules. But what about the broker hehehe... what if you achieve such amount then the broker run away... good by millions

  9. #9
    Specialist Member pinoyoptions's Avatar
    Quote Originally Posted by marc View Post
    Yes, I think psychology/strong nerves + money management is key ...

    Before I started trading I made a quick Excel-table and just dropped some numbers in ... and played around with that ... like 5 trades per day ITM, 80% return and 3% risk ... actually after a few months the numbers get replaced by ######## and you would be Number One at the Forbes-list

    Very surprising! ... and it looks so doable ... but actually I am not sure, that I have the cojones to set 15.000€ or even more per trade ... Atm, I am still trying to leave my fingernails intact, when setting 100€ ...
    Man i think we can asked those pros here with long time trading career, they can only answer it base on their account.

  10. #10
    Specialist Member pinoyoptions's Avatar
    Quote Originally Posted by Ammeo View Post
    Offcourse it is, becoming a millionaire trading any asset by any method isnt that difficult. Million isnt that big thing in todays world.
    Your right amneo, 1M$ is really small, but in order to achieve such amount it must start with very large capital.

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