What is the 100-10k trading challenge?
Asked 2 years ago
Hi, I've caught a whiff of the challenge, and I'm wondering what it is about. Is it a day-trading challenge, a currency/forex trading challenge, or a long-term stock trading challenge?
Tuesday, July 06, 2021
The idea is to turn $100 into $10,000 in the stock market. It is absurd. Why? The commission fees alone will eat into the $100.
Plus, the way the market is right now (at all-time highs), you would be lucky to earn a buck or two with $100.
It is safe to say that 99.9% of the people participating in this challenge will not make it.
I read somewhere that somebody was going to trade options with $100. But this is like giving Wall Street a donation because the money is just through money down the drain.
You're better off saying that $100 and waiting for a significant correction in the market to make some moves.
Andia Rispah Igobwa
Monday, April 25, 2022
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