Can I become a millionaire trading CFDs? Or do i stand a better chance opening an internet business (I'm 19)?

[guidfarr]

What has the better chance of success? becoming a millionnaire trading CFDs (contracts for difference) or via options or starting out an internet business?

[luckybright24]

Trading options, CFDS, futures, spread betting or any short term trading for that matter is inherently risky. Additionally CFDs and options are geared products which means that you only need to deposit a small amount of the position outlay - this can potentially multiply profits but also losses. Trying to play with a small amount and using gearing at its maximum level is like playing russian roulette. Having said that with prudent trading it is very well possible to make a good income from stock market trading (I'm successful myself)

Becoming a millionaire by starting an internet company is also not without its risks - the internet marketplace is today very crowded/competitive. If you work hard and persist you may make a living from it after a couple of years but becoming a multi-millionaire is not so easy unless you invent the next facebook or twitter

Your best bet at 18 is probably to get a good education which will provide you with a solid foundation to build on in future...

[E]

opening your own internet business would probably be more risky at first, but if it's successful it will eventually be able to run itself.

Trading in general can get you to where you want, but you will never be able to leave it to run auto-pilot, and even if you do this for the next 15 years, all it takes is one bad judgement and you could potentially lose a massive amount. I've seen very careful investors, older and wealthy, for one reason or another, chose a bad trade and lost 10's of thousands of dollars in one afternoon.

If you have good ideas open the business. Its better because once you get the website getting customers regularly, the rest of it is a piece of cake. That and Capital Gaines Tax is horrendously high...