Taking 0.5K to 50K in one year

M

Millionaire

A few weeks ago I started a thread called 'Taking 0.5K to 100K in six months'.

However, after a few weeks of trading, i now think that was a bit too aggressive as it was putting my trading under too much pressure.

So i have lowered my expectations a bit (or perhaps a lot), now i am 'only' aiming to turn 0.5K into 50K in one year instead.

This is still a 10,000% return!

I trade with GBP funds, in USD this translates to taking $800 to $80000, which sounds even better :p

I am trading FX and Stock index futures using a Spread betting account (IG index), which allows margin to stops and leverage up to 700:1. This allows me to buy a $250,000 FX position with only 0.5K in my account or it allows me to buy the equivalent of 10 YM contracts with the same amount of margin if i want to.

Here is the new target schedule:

Code: 
Starting equity: 500

Week  Target
2	1000
4	1600
6	2400
8	3200
10	4000
12	5000
14	6000
16	7000
18	8000
20	9000
22	10000
24	12000
26	14000
28	16000
30	18000
32	20000
34	23000
36	26000
38	29000
40	32000
42	35000
44	38000
46	41000
48	44000
50	47000
52	50000
 
Here is my blotter taken from the other thread, some of you will have seen these already.


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The account balance after 10 trading days was 2291, which was ahead of the new 2 week target (1000).

Daily results so far:

Day 1: -215.2
Day 2: 527
Day 3: 539.5
Day 4: 249
Day 5: 0 (FOMC Day)
Day 6: 151.3
Day 7: -472.5
Day 8: 582
Day 9: -403.5
Day 10: 833.5

It look likes today (Day 11) might be another losing day, currently down 300 for the day.
 
once again...

my odds of being as famous as Angelina Jolie are better than your odds of making 50k in one year.

AND... I am not even in the movie business !


So this is the second time, ideally your thread and attempt should scare other traders, but it will just make them more excited and give them hope that this can be done.

At least you are honest when you lose and just tell it like it is. Good Luck, you are going to need it.
 
We need to bring your last statement over from the thread you are trying to ditch.

"I have lowered my expecations, i think 100K in six months was a bit to agressive and put me under undue pressure.

I have started a new thread, with an aim to making just 50K in one year.

I will no longer be posting on this thread. Would the mods please close this thread."

just so people understand how clueless you are being. You are only trying to dodge negative reactions

http://elitetrader.com/vb/showthread.php?s=&postid=2489637#post2489637

Understand folks, he is saying $500 to $100,000 (now "reduced" to $50,000) in one year.

Soon, he will "lower" it from $500 to "only" $25,000?
 
Quote from TraderZones:

We need to bring your last statement over from the thread you are trying to ditch.
More...

I declared i that i was lowering my expectations from the other thread in the first 3 lines of the first post on this thread.

Cant you read?

I posted a final message on the other thread to direct any subsribers to this new one.

Im working hard here spending 14 hours a day watching the market.

7am, the FX markets 'open' in the UK, the US markets close at 9pm UK time.

I will continue to post on this thread and if i want to start other threads or lower my expecations that is up to me.
 
Quote from TraderZones:

We need to bring your last statement over from the thread you are trying to ditch.
More...

After years of just lurking at ET, I still wonder how I find it so easy to refrain from negative comments and yet others seem to live to tear others down.

Why not just scroll on by?
 
Sometimes it's impossible to tell if someone trying to trade $500 into millions is a seriously deluded individual or just a wag trying to wind people up. If the former, then we have some duty to put him straight. Hitting the S&P after failing miserably at the roulette tables is not the way to go.
 
Quote from ddaytrader:

After years of just lurking at ET, I still wonder how I find it so easy to refrain from negative comments and yet others seem to live to tear others down.

Why not just scroll on by?
More...
After years of making negative comments to posters who start what I consider to be at worst idiotic threads and at best seriously clueless exercises in self-agradizement and egotism, I wonder at the strength-of-will I need to continue making those comments in an attempt to keep these people from hamstringing themselves in an already viciously competitive marketplace.
 
This is a fun thread but i am also very serious, im putting in alot of effort into my trading.

My ET journal is keeping me more disciplined than i would otherwise be, knowing that i will be posting all my trades in public is forcing me to cut my losses sooner than i might otherwise.

I dont want to make any loss in my account that exceeds my biggest win.

Im also trying hard to keep my losing days smaller than my winning days.
 
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