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Yes, it's possible if you have sufficient capital. The market theoretically goes through 4 stages, each one behaves differently from the others. If you buy at the right stage in the cycle, you would theoretically make money. Remember that it takes a while for the market to go up, but going down is a lot quicker.
Sorry I had to edit my first response because I don't think it was appropriate. The stock market is small in size compared to the currency market. But the big difference is the amount of leverage allowed. In currency or commodity trading, a trader can take on a large position with a small initial capital and can potentially make or lose big money in a short time. I read in "Market Wizzards" that Denis Richard, a commodity trader, turned something like $1K into $200M at the height of his career.
Is there any possibility of making a small fortune on the stock market in a short time
Yes.
Pick 100 day traders and follow them for 5 years.
During that 5-year period, 3 or 4 of those day traders will show a 1-year period within that 5 years, where they made a huge fortune on the stock market.
It does happen.
It is very much like a state lottery. If a million people each put $1 into a daily lottery, and one person's ticket is drawn. That one person does 'win'. They might have actually 'won' $1million. They might get $50k up front and $50k each year on the anniversary of the win, for 20 years. So their total pay-out will total $1million.
A million people pay into the gamble and lose, and 1 'wins'.
"Propped up by lush lines of bank credit, currency speculators can trade billions of dollars while putting up only a fraction of that in their own cash."
This is the kind of leverage I was talking about. The quote is from a NY Time article I linked in ChicagoRon's thread about Forex trading.
Yes, but your chances of striking it rich are about the same as striking it rich in a casino...especially if you aren't a well-educated and knowledgeable stock trader.
If you are serious. Go to Las Vegas or any other big gambling area, buy a stack of chips for the same amount as you want to use to strike it rich. Then go gamble. The difference is at the casino you will have lovely ladies delivering free drinks to you, and it will be much more fun. Good food, lots of things to do, and it will be much more memorable than dialing in a stock purchase or whatever other investment vehicle you choose with which to hit the jackpot. Good luck and have fun.
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