I want to make $1,000,000 in 3 Months (say, with a starting capital of $50,000) I have no idea how to achieve this. Maybe your input can help. You can tell me I am crazy. All inputs are welcome and taken seriously (but not personally). I have been feeling lazy, trading aimlessly through life; picking up a few points here, a few points there. I am trading stocks, options and futures, and a bit of forex (I prefer forex futures). Ok, I am making money, but I have lost all purpose of it. I need a challenge. That's why I dream of making $1,000,000 in 3 months. Is it impossible? I have seen people do it. Napoleon Hill said ' What ever the mind of man can conceive and believe it can achieve' Can you conceive making $1mil in 3 months? Do you believe it can be done?
If I break it down to daily figure: rounding up 3 months to 100 days: $1,000,000 in 100 days equals to $10,000 per day. :eek:
Search on Grob109 and Jack Hershey for a description of his Seamless Continuous Trading method in the S&P 500 index future ES. Guaranteed to make a lot of money change hands, easily as much as you mentioned if you trade it aggressively.
Make 1% return a day on your account size with growing your position size daily.....be a little more patient then 3 months and you will be exceptionally pleased with your returns. Now go and figure out how to do just 1% of your total account size daily.... $50,000 account is more then adequate to get to your $1 million goal in a short period of time. Day #1 $500.00 Day #2 $505.00 Day #3 $510.05 Day #4 $515.15 Day #5 $520.30 ...... ...... Day #365.....you do the math. Take the more methodical higher probability route......only way to win at this game.
With 50k you could trade 100 ES contracts. Make two points a day and keep adding contracts as you go. All you have to do is get your two points a day. You will have your million in a month or so.
Three months is closer to 60 trading days. If memory serves, Grob had once written that a return of up to 7% daily was possible using his magic beans, whereas the initiator of this thread is only looking for a relatively "modest" ~5.2% with daily compounding. Kindly refer to Grob's following post in another thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=1031210#post1031210 Somewhere in the middle of his soliloquy, he wrote, "...the market potential for a front running trader orientation to trading the highest quality stocks (based upon earnings and price performance) runs, on a daily basis 4 to 7 % a day consistently." Hypostomus, I particularly like your carefully chosen words, "Guaranteed to make a lot of money change hands." Indeed.