Taking 0.5K to 100K in six months

Discussion in 'Journals' started by Millionaire, Jun 16, 2009.

  1. This journal is inspired by member neke's great ET Journals.

    The Gameplan
    ==========
    The plan is to day trade the FX Majors and also the main US/European Stock Indexes.

    Im aiming to take an average of about 10 trades a week (between 0 and 5 trades per day). ie Looking to take the best setups only.

    Initally i will risk a large percentage of the account on each trade, but reduce the risk percentage as equity grows.
    My risk of ruin will be extremely high in the early stages but will reduce as times goes by. I dont mind blowing up in the first 10 weeks, but after 3+ months of hard work i want to reduce the likelihood of this happening.

    If the account drops to below 300GBP, it will be topped back up to 500GBP and the clock reset. Hopefully this will not be required.


    Code:
    Starting account balance: 500
    
    Week  Target
    ====  =====
    1	800
    2	1300
    3	2050
    4	3200
    5	4500
    6	6000
    7	8000
    8	10500
    9	13500
    10	17000
    11	20500
    12	24000
    13	27500
    14	31000
    15	34500
    16	38000
    17	42000
    18	46000
    19	51500
    20	57000
    21	63000
    22	70000
    23	77000
    24	84000
    25	92000
    26	100000
    
     
  2. Please post your trades in real time so i cant get on the other end of those trades :)
     
  3. It's good to have big dreams and ambitions.
    Good luck dude.
     
  4. Code:
    Week #1 
    =======
    
    P/L: +311.8
    
    Closing balance: 811.8
    
    Target closing balance: 800.0
    
    Status: Ahead of target
    
    Number of Trades:  8
    Number of Profitable Trades:  5
    
    Just 2 days of trading this week as my first day of trading was Thursday.

    I closed out my final trade today when my account went over the 800 target.
    Which is why the closing account figure is so close to what i was aiming for.

    Its good to end the first week ahead of target.

    Lets see how things go next week...

    Code:
    Date		Market				Open	 Size	Close		P/L
    19/06/2009	Wall Street Daily Future (Sep) 	8505 	 -11	8492		143
    19/06/2009	Wall Street Daily Cash		8512	 11	8542		330
    19/06/2009	Spot FX GBP/USD 		16489.9  5	16500.7		54
    19/06/2009	Wall Street Daily Future (Sep) 	8488 	 5	8438		-250
    19/06/2009	Wall Street Daily Future (Sep) 	8542	 -5	8492		250
    18/06/2009	Wall Street Daily Cash 		8561	 8	8555.6		-43.2
    18/06/2009	Wall Street Daily Future (Sep) 	8513	 -5	8503		50
    18/06/2009	Spot FX GBP/USD 		16337.1	 -5.55	16377.1		-222
    							
    18/06/2009	Card payment ********* 	- 	- 	0			500
    
     
  5. Good luck with it. Taking great setups only (some flat weeks), and you should do great, just don't get married to 26 wks.
     
  6. NevouS

    NevouS

    ROFL!... good luck though seriously.
     
  7. Thanks for the support,

    I can definitely do it if i remain patient, but i have a nasty habit of getting compulsive.

    I can read the markets well, should be able to maintain a 70% win rate if i am patient.

    But if not my win rate drops to just 50%.

    The DOW was farely easy to read today and i pressed my size because i was feeling more confident.
     
  8. Ok...... take your 311.8 and run then.
     
  9. LOL, i dont need the money. Even the 100K wont really give me any more buying power over what i can afford or need now.

    Im more interested in the challenge which on the one hand should be possible if i can remain patient and disciplined, but on the other looks like an almost impossible feat for anyone to pull off.
     
  10. cfstrader

    cfstrader

    it is defintely achievable. winners bigger than losers. that's it. obviously you need to have a system.

    systems are fine, it's the human mind that lacks. we spend all our time trying to tweak the system here and there. It's all about confidence.
     
    #10     Jun 19, 2009