What difference does it make? Traders trade to make money, not trying to reach some percent goal. Which is more important to you? Percentage gain or making money?
To double your account in 240 trading days, you need to clear a profit of 0.2892% every day. A bit more than a third of a percent. But EVERY DAY. And plow all profits back into trading. We trade for a living. If I have a $40k account and I make $144.60 on the first trading day and the same proportional earnings, after expenses, every day, and never draw anything out of my account, I will double my account in a year. Do the math. The first day you earn $144.60 which is 100.2892% of $50k. Next day you start with $50,144.60 and earn .2892% and end up with 1.002892 x 1.002892 x $50k. Tne next day, 1.002892 x 1.002892 x 1.002892 x 50k. And so on. Or 1.002892^240 x $50k, to simplify. To triple your account you need to earn .4588% and to quadruple it, you must earn .5793% and to quintuple it, .6729%. for 10x, .9640%. for 100x, 1.9374% for 1000x, 2.920% If you earn 1% every day after expenses, and never draw out, you end up with 10.89255x your initial account. The problem is, there is a range wherein day trading is most efficient, I believe. If you try to put more than a million into play you probably will not get the same percentage results as someone trading with $50k to $100k. I am guessing since I have never had a million to trade with.
Growley, you cute little monster, the problem is that OP is BS. There is no point to the OP. The challenge makes no sense, it is ridiculous in it's structure because it involves compounding, and is self-destructive by it's very nature. The OP admitted that they have never seen anyone do it in the past. So why would they expect anyone to do it in the future? It smells of elderberries and, well, a fish slap.
No, it’s not. Your logic is one-dimensional and will only provide a self-fulfilling prophecy for you. Learn to ask better questions.
If someone does what you suggested (challenge) to do... They are not going to help you nor any other newbie. They will go away and you'll never hear from them again. That's life. wrbtrader
Super-easy. I'll even help you do it, so you can be the Great Guru of Capital Doubling for 10 years straight. Ready? 1) Send me all of your money except for one penny, then go beg for food. Or maybe survive on raw slugs or something for a year. Sure it would be hard, but... you want that unshakable belief in Forex, don't you? 2) At the end of the year, I'll give you another penny. Voila! Your money has been doubled! 3) We'll continue this tremendously successful experiment for ten years, at which point you will have $10.24, Guru status, proof that it works, and maybe even a belief in Forex. I have no idea how the two are connected... but then, I have no idea how your "challenge" is connected to it either, so I guess it's all right. I accept bank checks, credit transfers, Bitcoin, 1-oz gold Maple Leaf coins, and direct delivery by armored truck. PM me for details, m'kay?
I double my wealth sometimes in a mere day, 100% literally and seriously. I normally celebrate and blow it on a pizza afterwards mind.