Taking 0.5K to 100K in six months

Quote from Millionaire:

This journal is inspired by member neke's great ET Journals.

The Gameplan
==========
The plan is to day trade the FX Majors and also the main US/European Stock Indexes.

Im aiming to take an average of about 10 trades a week (between 0 and 5 trades per day). ie Looking to take the best setups only.

Initally i will risk a large percentage of the account on each trade, but reduce the risk percentage as equity grows.
My risk of ruin will be extremely high in the early stages but will reduce as times goes by. I dont mind blowing up in the first 10 weeks, but after 3+ months of hard work i want to reduce the likelihood of this happening.

If the account drops to below 300GBP, it will be topped back up to 500GBP and the clock reset. Hopefully this will not be required.


Code: 
Starting account balance: 500

Week  Target
====  =====
1	800
2	1300
3	2050
4	3200
5	4500
6	6000
7	8000
8	10500
9	13500
10	17000
11	20500
12	24000
13	27500
14	31000
15	34500
16	38000
17	42000
18	46000
19	51500
20	57000
21	63000
22	70000
23	77000
24	84000
25	92000
26	100000
More...

since when did Neke say he planned to make a 20,000% return on his money?

This is a suicidal High Risk of Ruin that is a horrible idea and example to other newbies like yourself, that if it lucks out, will crow like a rooster, but in the 99.9999% chance it does not, will just quietly go away.

And if you do, no one will ever believe you unless you get it INDEPENDENTLY audited at one of the 6-7 tracking websites bouncing around.
 
Quote from TraderZones:


This is a suicidal High Risk of Ruin that is a horrible idea and example to other newbies like yourself, that if it lucks out, will crow like a rooster, but in the 99.9999% chance it does not, will just quietly go away.

And if you do, no one will ever believe you unless you get it INDEPENDENTLY audited at one of the 6-7 tracking websites bouncing around.
More...

The odds of ruin are not 99.9999%. I reckon they were around 50% when i started, now they are they are a bit less.

The odds of hitting my 100K target in six months are very slim, but i still think much higher than say 0.00001%.

I probably wont hit 100K in six months, but i think i have a very good chance of hitting 50K in a year. Which is still pretty awesome trading by any standard.

As for no one believing me, i dont care, i will have learnt a new skill. And shown others that it is possible. Ofcourse some of those who cant do it themselves will think i am making this all up.

Also i am not a newbie, i am a successful automated trader, but i have never mastered discretionary day trading, i have tried this type of trading a few times in the past and always failed and given up after a day or two. With this journal i have lasted 10 days so far..
 
Quote from Millionaire:

The odds of ruin are not 99.9999%. I reckon they were around 50% when i started, now they are they are a bit less.
More...

I did not say the risk of ruin is 99.9999%. I said "in the 99.9999% chance it does not" - reach your goal.

And your risk of ruin calculation is completely groundless. It is difficult to calculate.

But your pursuit is extreme gambling. It has nothing to do with neke.
 
Quote from TraderZones:

But your pursuit is extreme gambling. It has nothing to do with neke.
More...

And i never said my trading was anything like neke's. I said this journal was inspired by neke's journal. Meaning i felt inspired to do this journal after reading neke's.

As for gambling, that would depend on me having a consistent edge or not. You are in no position to know that.

You can accuse me of gunslinging but you have can no idea if i am gambling or not.
 
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