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HE TURNED $2,000 INTO MILLIONS

"If there’s any futures trader who can take $2000 and turn it into a millions, Randy McKay would be the one.
An excerpt in The New Market Wizards by Jack Schwager, from Randy McKay:“In 1970, I returned from a tour in Vietnam. Since I didn’t finish school before I left for Vietnam, I needed a job that would allow me to go to school at the same time. My brother, Terry, was a floor broker on the Chicago Mercantile Exchange. He got me a job as a runner on the floor, which allowed me to work in the morning, attend school in the afternoon, and study in the evening. I worked as a runner for a couple of years with absolutely no intention of getting into this business. I was studying to be a clinical psychologist. Just as I was finishing college, in 1972, the CME launched a subdivision, the International Monetary Market to trade currencies. When the exchange started the IMM division, they sold seats for only $10,000 in an effort to try to get bodies into these new trading pits and gave away free seats to all existing members. As a member, my brother had no particular need for this seat at the asked me if I’d like to use it in the interim. He gave me the use of the seat and lent me $5,000. I put $3,000 in the bank to pay my living expenses, and used the $2,000 for my trading account.”In the first seven months of trading, he turned that $2,000 into $70,000. And each year he continued to make more money than the previous year. And he was trading in the trading floors at that time.Then one day he decided to leave the trading floors and start trading from home. By his second year from trading from home, he made his first $1 million.
And tell you what? He continued to increase his trading account  every year until 1986 when he suffered his first trading loss for the year.If there’s anybody who would get a medal  for consistency in trading, it would be Randy Mckay. Its been reported that Randy Mckay has been profitable for his own trading account 18 out of 20 years.Not much is known about Randy Mckay’s net worth but one thing is for sure: it won’t be under $10million.
What the lesson here? Well, you can turn $2,000 trading account into $70,000 if you are consistent like cutting your losses and making more than you lose. And you know what? He is a contrarian trader, he trades against the crowd's wisdom!" 
 
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