$400 to $5M at Jan 1, 2011

Discussion in 'Journals' started by Gcapman, Nov 2, 2009.

  1. Gcapman


    This will be my forex trading journal and I will post my account snapshot daily.

    My goal is simply to double my account every month.

    Sounds impossible....I know

    Should be a fun journey!
  2. Gcapman


    Nov 1, 2009
  3. Gcapman


    Nov 3, 2009
  4. Gcapman


    Nov 4 2009
  5. It appears that you have already lost nearly 25% of your account in less than a week. At this rate, I fear you'll be thrown out with the bathwater before the month is over.

    Also there's a major flaw in the underlying premise about how you plan to arrive at your chosen destination. If you manage to double your money at the end of this month and continue to double month after month until the end of 2010, you would have a net worth of $ 6,553,600. But suppose your fortune was sliced in half this month and you finished with only $200, which you are then able to double month after month until January 1, 2011. By this time, your overall fortune would be a whopping $ 1,638,400. Certainly it falls far below the $ 5M mark but it's still a very respectable return. The question is where will you finish this month and, more importantly, can you replicate your success every month from thereafter?

    This would put too much needless strain on my psychology, which would in turn have an adverse effect on my trading. It's never good to indulge yourself in larger-than-life ambition IMO.

    Anyway, I'll be rooting for ya. Who knows? Miracles do happen. :)
  6. Soweeak


    Hi !

    Have fun !!

    Do you mean that the last month you'll have to double 2.5 =>5M$ ??

    I hope you succeed
  7. flatron


    Good luck, but im assuming the $5m target is just a little joke? Oviously you have a precisely zero chance of getting that from a $400 starting account.

    Im rooting for ya to do well tho. I have turnedc a few accounts with similar starting amounts into approximately $5000 using UK spreadbet firms.

    I am starting one again next week starting with about $800. I may even start a jounral here documenting it all, although I am not sure yet. Dealing with the haters, extra time involved in posting blotters everyday, answering questions etc etc. We'll see. Good luck
  8. Gcapman


    Thanks for the kind words of encouragement mixed in with a healthy dose of "is this guy serious?" respectful tone....

    I have no doubt that this is "an impossible" endeavor but I have no doubt in my mind that I can make this happen thru serious training of my discipline via exercise and meditation.

    I will post my "buy stuff list" at the end of this year.

    One of my biggest motivations besides material gains, is my desire to establish a non-profit organization in my community.

    This is going to be my biggest challenge yet ! !
  9. everything is impossible until its done.
  10. Gcapman


    Nov 5, 2009
    #10     Nov 5, 2009