Turning 2.5k into 100k

Quote from Neoxx:

I admire your ambition and determination, but have to agree with the other posters.

Surely the hurdle of consistent profitability should be passed before the move to full-time daytrading, else a promising venture turns into a gamble. Many here are testament to the fact that trading success and a full-time job are not mutually exclusive.

Anyway, best of luck, and I wish you success.
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Thanks Neoxx!!

I do have some experience trading the YM. Tried before without success. Live in Europe, so if I wanted, I could have a job too, but need to trade full-time in order to be serious.
 
Quote from lwmoss:

Right there with you man! :) In my case, my husband and I own a small business (and yes, things kind of suck right now in this market) but I have started to concentrate almost exclusively on the trading. I'm looking to turn it in to a second income as well.

Glad you're hear and just wanted to add another friendly voice. Best of luck to you.
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Appretiate it!
Wish you the best too!
Don't trade more than you afford to loose.
 
why not turn it into 200,000 or even $1m??

In fact pull a random figure out of the air because it's such a pie-in-the-sky figure anyway.
 
Quote from booking:

why not turn it into 200,000 or even $1m??

In fact pull a random figure out of the air because it's such a pie-in-the-sky figure anyway.
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Do you think my chances increase if I aim for 0 ?
 
wow, I didn't expect this to be my first post.
Although it depends on what your job was, you shouldn't quit.
Good luck w/ your trading anyway.
 
Quote from bretddog:

Thanks Neoxx!!

Live in Europe, so if I wanted, I could have a job too, but need to trade full-time in order to be serious.
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I think it's possible to be serious without trading full-time.

I also live in Europe; I tweaked a 5-day work-week to Mon, Tue, Thur (daytime and overnight) and Saturday. So I get two whole and two half weekdays to daytrade/week, and run a double-time Sim on Sundays. Also squeeze in some early AM exercise, and some market research during work, time allowing. Sure, it can make social life a little more challenging, but it's certainly doable.

Work hard, Play hard. :p
 
Neoxx,

I'm sure it's very possible, and understandably often many benifits too, on the mental level of trading. However in my case the job just took too much of my time. Lots of overtime, even though totally my choice I was kind of stuck with it in my position. so it pissed me off that I couldn't focus on trading like I wanted. So from that situation, to quit was a great relief. If it's smart I'm not gonna say. But this is what I want, so I'm just doing it.
 
Quote from bretddog:

Just funded my account with fresh 2000$, bringing it to 2505$. Goal is to magically transform this to 100k. This shall be achieved in 1 year.

My trading will mainly focus on trend evaluation and support/resistance. I will trade the YM, at least until I find advantages with other markets.

Looking for 0 to 5 trades per day and always flat when markets close.

Btw, I just quit my job to do this full time, so now it's time to turn profitable.

Results will speak the truth.

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Aloha mate..

Im not gna tell you that your goal is impossible to do or try to tell you that you shouldn't do it,
cos its your own cash, +i have done and continue to do similar.

For me i started after many many months and months of trading everyday with real money and just losing, while looking at trading form every angle an dspending every day and night on trading forums and chatting to traders...


I then started completely fulltime all day everyday when i left college back in july, as i then didnt have to just bunk college to trade or try trading while at college... lol



I started with £750 capital, all teh money i had in the world, by mid august i had built that up to £5,590, 5 weeks, traidng at just £1 per tick only.

I then withdrew just over £3,000, and moved into a luxury new apartment, paying 3months rent in-advance, + over £1k security deposit.


Restarted trading mid september, after having to take 2weeks off for furniture delivery n stuff, and afterstreadily making £800 last week in the 2days i worked, just to lose it all in 1 very unlucky trade..
This week ive hit back very hard n fast, still at only £1 t £2 per tick, and am now over £1,000 profit so far this week.
(tahst when scalping with a 12pips spread even!)



So you can make a living out of an account of just £2,500, but there is are a few things that you have to do in order to achieve it and not just lose all the money.

1. You need to not focus on 'making this much by end of the year', but instead just focus on daily - weekly targets, saying i will make this many 100s quid this week for the enxt few weeks and so will build my capital up tothis level...

Because building up capital to a decent level should be your main and most important target.
 
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