You can dooooo ittt!!!!!!!
$1,000,000 in 3 Months
- Thread starter Tums
- Start date
ps. at 697 lots at 100,000 per lot, its implied control of 70 million. I doubt you would be still trading at a boutique brokerage but would move to the interbank market.
heres a chart of the implied trading range for that pair.
Sometime in the coming months a seasonal price slide is expected. Similar to last year.
Price slides can occur when there is a news vaccum and market participants are asleep during a low liquidity situation, usually around holidays.
The other times are during major economic reports or when politicians shoot their mouth off.
Its not efficient to sit around and wait for these moments. An API can be programmed to keep track of price movements and watch for price characteristics that signal such events.
Sometime in the coming months a seasonal price slide is expected. Similar to last year.
Price slides can occur when there is a news vaccum and market participants are asleep during a low liquidity situation, usually around holidays.
The other times are during major economic reports or when politicians shoot their mouth off.
Its not efficient to sit around and wait for these moments. An API can be programmed to keep track of price movements and watch for price characteristics that signal such events.
you write very well.
you do need to work on your reading though.
this thread is a question, not a "$1m in 3 months" journal.
The journal is coming, as soon as I am ready.
p.s. pls do not confuse this project with my other trading/speculating/investing activities.
p.p.s. your alluding to car, chick and condo betrayed your station in life; people only wish for things they do not have.
I agree with you, I do need to concentrate, and to stay flat at EOD.Quote from osorico:
I posted in another thread about 600% monthly profit on a small account. Small for that thread being 5k or less. My experience is with 5-10K.
Based on 20 trading days in a month, 8% profit (based on portfolio value)per day is 366% per month. 10% per day is 573%
Below is an XL workbook to play what-if
With a larger account (50k qualifies, imo) there are a few problems however. BTW; I traded index futures for this. No stocks, options, forex,etc.
1) Concentration, not diversification is the simplest way to achieve this, imo. The goal is to hit the daily profit target, period. Flat at eod. No unnecessary risk such as overnights.
2) With a larger account, concentration usually involves slippage, if the entire position can be put on at all. To
mitigate this, and at the same time reducing risk, and at the same time not impeding attainment of the daily target, use double or triple the intraday margins provided by your broker, or even exchange minimum margins. By doing this, you...
a) Utilize a max position which will have minimal slippage. Based on 50K, this means a month start max position of 20-40 contracts. No problem getting in and out et al. As account increases especially during the 2nd half of trading month, this aspect must be still be dealt with, however. Dependant on your chosen market(s).
b) obviously, higher margin reduces risk
c) 8% target = $80 per 1K. Can you NET $80 profit per contract? Do you care if it takes 1 trade or 50 trades in a day? Concentration not diversification allows the prize to always remain in view without confusion, imo.
3) At eom, reset account balance, or face the problems of a larger account and/or diversification.
Good trading to you,
Osorico
At EOM (or EOW), I do have to face the diversification issue.
What we will do is kidnap Cramer and demand CNBC turn over 1 million dollars. Thats what we will do.
Haha, if you constantly bring 1.2% return each day for the next 250 trading days in a year (not counting the weekends), you will be able to make $1,000,000. Have fun!
1.01205^250 x $50,000 ~ 1,000,000
Now if you bring a constant 5.12% return on each day for the next 60 trading days (three months), you will make a million.
1.05119632^60 x $50,000 ~ 1,000,000