$8k to $80k in '08

$8k to $80k in '08

  • Yes, go get'em Bandit.

    Votes: 94 54.0%

  • No way.

    Votes: 79 45.4%
  • Total voters
    174
I took 25k to 105k in two months, and loss all of it in 3 weeks. Mainly trading ER2.

From my own experience, if you can earn fast with such low capital entry, you can lose it as fast. The reason is that the "risk control" mentality is not set yet when profit comes too fast.

A few more points to ponder which I think will help you achieve your goal:

- What is your goal to take the 8k-80k challenge? How did you come up with 80k?

- What is your true goal as a long term trader? From the perspective of a sustaining trading career, 1000% is really too much to ask for.

- Counting on being profitable everyday will create stress when goal is not achieved. Have you gone through a period of losses? How did you handle it?

I have attached a perhaps slightly more doable growth plan. Full margin on ER2 is $5250. 8k capital, starting with 1 contract, attempt 2 points every win with 1:1 win/loss ratio. Increase one contract every 10k profit. That should give enough room to lose. Only assuming 100 day of wins for a year. I came up with 36k profit, 400%. Enough to impress you?

Hope my comments have been helpful. Good luck!
 
Quote from nimble:

I took 25k to 105k in two months, and loss all of it in 3 weeks. Mainly trading ER2.

From my own experience, if you can earn fast with such low capital entry, you can lose it as fast. The reason is that the "risk control" mentality is not set yet when profit comes too fast.

A few more points to ponder which I think will help you achieve your goal:

- What is your goal to take the 8k-80k challenge? How did you come up with 80k?

- What is your true goal as a long term trader? From the perspective of a sustaining trading career, 1000% is really too much to ask for.

- Counting on being profitable everyday will create stress when goal is not achieved. Have you gone through a period of losses? How did you handle it?

I have attached a perhaps slightly more doable growth plan. Full margin on ER2 is $5250. 8k capital, starting with 1 contract, attempt 2 points every win with 1:1 win/loss ratio. Increase one contract every 10k profit. That should give enough room to lose. Only assuming 100 day of wins for a year. I came up with 36k profit, 400%. Enough to impress you?

Hope my comments have been helpful. Good luck!
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Thanks for your post.

You've proven that it can be done.

You've also shown that you learned from your experience.

IMO, this is the only way for traders to succeed ... have your experience, learn from it, then come back at it again.
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Al the OP needs to do is slightly modify the contract (from ER2 to ES, for example) and change the parameters for scaling up/scaling down as yourself, Lawrence Chan and austinp have recommened and he is there.

The main discipline with this thread and the "$100k to $1mm in a Year" thread will be in having the discipline to cut the losers, shake off the minor loss and position yourself for the next opportunity.
 
Quote from CaptnDustball:

guess all you guys were right. and he was wrong.

all heed... another schmuck.
More...
yeah you're right.

start a thread and then abandon it when he blows-out ... :p
 
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