From $10,000 to $100,000 in 6 months.

[xelite777]

You might want to check your calculations.

Well if you can turn $10,000 into $100,000 after 6 months, then after a year your initial $10,000 becomes $1,000,000, if you re-invest the whole thing and obtain the same kind of return.

That's a $990.000 profit, right?

 

[lotto]

Well if you can turn $10,000 into $100,000 after 6 months, then after a year your initial $10,000 becomes $1,000,000, if you re-invest the whole thing and obtain the same kind of return.

That's a $990.000 profit, right?

I didn't catch the six month target by the OP - my bad. The OP is proposing a 1000% increase in equity in six months.

 

[lotto]

Unless the executions are pre-identified or called real time you are just wasting time and bandwidth.

Demanding real time calls in this context is over the top. Neke never posted in real time - simply a blotter or equity run periodically should suffice. There are other ways to make the results, whatever they may be, credible enough for an anonymous trading forum.

 

[xelite777]

The OP is proposing a 1000% increase in equity in six months.

That's correct.

And like I said before, Larry Williams did just that back in 1987, with real money.

But believe it or not, his daughter won the World Futures cup using the same strategy as her dad, 10 years later! :eek:

So as you can see, anything is possible in trading, even though it takes guts and nerves of steel to pyramid a winning position to the max.

 

[burt_schroder]

Starting next week I will begin a public challenge. I am freshly depositing $10,000 into a futures trading account. During the course of six months, I will look to turn that balance into $100,000. Every single trade will be posted on this forum. I will also likely do a daily video update on where the entries & exits were, and also explain why I initiated that trade in the first place.

Purpose of this challenge? I am beginning with an account balance that most people entering the markets can relate with. Most of all, by having a separate account that will have every single trade documented, there would be full transparency and it would also come to light as to whether or not it is feasible to have a consistent edge in the market.

What trading strategies will I be employing? Strictly technical trading. Locating support and resistance levels and deciding my entries and exits based on that. I will not utilizing fundamentals and at the very most, I would use RSI as an indicator.

Why only futures, how about options or common share? Simple answer, day trading restrictions. When an account has a balance below $25,000; you are only able to have three same day trades within a 5 business day period. This restrictions apply to option trading or trading common shares. Since I tend to open and close positions in the same day quite often, I do not want to be concerned with that restriction. Trading futures also opens me up to trading commodities that have less news to trade on, etc Corn. Lastly, for a new trader, it is much simpler to trade the futures market as opposed to options that derive their value from several different factors.

Will I set weekly profit figures? I will not since that is too difficult to anticipate. On a good week, if I hit that figure early on, that is no excuse to not continue trading the rest of the week. At some point there will be enough data to figure out what my daily profit sits at which I could possibly use as an ongoing benchmark.

Do I believe I will be success? Yes. It will be a difficult challenge to increase your account ten fold in half a year while trying to minimize the chances of risk to ruin, but I do believe I have the tools and mindset to make it happen.

Most of the so called superstars that lurk around this site don't make 10%....if they could....believe me....they would prove it....but they can't.

Good luck!

 

[GruTrader]

Hitting the goal in six months will obviously be difficult which is why I have labeled it as a challenge. I would prefer if we stay away from the improbabilities of me reaching such a goal, and instead wait for me to post my trades. As I mentioned in an earlier post, I am waiting for the funds to be deposited into a completely fresh futures account I have put together for this challenge. Things should be ready to begin tomorrow, or by Wednesday at the very latest.

Rest assured that if I am successful, I will gladly have the trading account audited by a firm to insure the creditability of the journal.

 

[xelite777]

Rest assured that if I am successful, I will gladly have the trading account audited by a firm to insure the creditability of the journal.

If you can achieve your goal you won't have to worry about your financial future at all, the biggest trading firms will be looking for you, and any financial newspaper and magazine will be begging you for an exclusive interview...and Maria Bartiromo (also known as the "money honey") will probably ask you for a date so you can tell her all about your trading strategy at your favorite bar in Manhattan...

 

[eurusdzn]

This should be a very high interest thread. I personally would love to see this
unfold successfuly. Good luck to you.
If i could ask; Will you be leaning on a premise such as the Russia/Ukraine situation
and "kill it" if events unfold as you surmise in 6 months?
I am curious of the timing and if there is a reason for NOW.
Thanks, and again, good luck..

 

[smallfil]

GruTrader,

Thank you for sharing your trades. I hope to learn and pick something out of it as
an aspiring full time trader. My goal is of course, to make a living out of trading the
stockmarket.

 

[tiddlywinks]

GruTrader, an experienced futures trader, starting with 10K should have no problem reaching the goal.

Assuming a start on 5/7/14.

164 trading days
15 trading days (3 trading weeks) out sick, infrastructure issues, losing days etc.

90000 goal / 149 trading days = $604 average per trading day.

Generating $600 INTRADAY in futures with a 10K account is conservative. Dare I say simple, so long as the market(s) being traded offer more than muted movement. Haven't even considered the "compounding" (additional contracts) that can be put on as time goes forward.

Saying good luck seems silly to me, GruTrader.
If you are who you say you are, You know you've got this!!