Thank you for your proposal and step by step analysis. I will further study it in detail. I should consider your multi-market suggestion, maybe added EURO too? because it is of a different sector.
Yes, your question is crazy. Do you think how many people here can achieve that? Asking such questions will not going to help you much to achieve this.
challenge is not $1,000,000 in 3 Months. Challenge is you can surpass your greed and earn what you can earn.
There is a fatal flaw in that book. Ryan Jones tried to trade it himself, did OK for a while and then (nearly? did not follow it to the end...) blew most of it again. It can be done, Jesse Livermore averaged 150% / week but this was on highly leveraged trades. the problem that you'll have to solve is that once when you start compounding you'll start to affect the market and then have to resort to "tricks" in order to get out. Holmes
The only real way I can think of is being in on a couple penny stocks that explode. For example: Lets say you bought $50,000 worth of FHAL on 7/11. That would be 500,000 shares when it was .10 a share. Then you sell it on 7/24 at 1.60 a share. You just made 1.50 a share on 500,000 shares for a profit of $750,000 and took your $50,000 account to $800,000 total in about 2 weeks. Now the hard part is knowing which stock will do this next.
There is a simpler way to do it. You lower your daily ES profit requirement to 2 ES points, which is doable, and use a broker with lower margin. If you use 1 contract for each 1K capital, and you make your 2 ES a day consistently and you increase your size the next day for each 1K gained by 1 contract, you reach the million by day 40th or so, I didn't do the exact math...(commission not included) Capital: Ctr #: Gain: 50K 50 5K 55K 55 5.5K 60.5K 60 6K 66.5K 66 6.6K etc.etc.
That's a very good point -- to lower the target to 2 ES points. It makes the target more doable. I do have to look at the risk exposure more closely. Making money is a 2 way street.
In a 12 month period Larry Williams turned $10k to over $1m. Can you afford to lose the entire $50k. Shooting for an extremly large return would probably mean losing everything or hitting your traget. If this is about the challenge Yes you can do it. If this is about the money you will probably come up short.