$1K into $1M Journey
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Thread: $1K into $1M Journey

  1. #1

    $1K into $1M Journey

    Hi,

    My name is Chase and I've been trading currency for approximately 3 decades. I would like to try something impossible but possible to achieve; turning $1000. I have been trying this type of return for the 3 weeks and it's been working out very well. I really think I can keep it up so that I wish to start out this thread to document my journey, just in case I really triumphed.

    I am doing this because I am bored sitting in the front of my computer all day. It is also because I want to find out if it's really possible. I think it's amazing if this works out. In this thread I will keep track of the majority of the trades I will make . I will also be posting screenshots of this coresponding announcement daily as proof.


    How is it possible?

    Risk/Reward Ratio: 1 (roughly 1)
    Risk on each trade: 1% to 3% (of newly compounded daily equilibrium)
    Win Ratio: 60% (3 out of 5)

    As you may see, if a machine using a rr ratio of 1, meaning risk and payoff are about the same, all I need is to win three out of every five trades or 60% daily, and then I'd gain approximately 1% to 3% each day.

    A starting capital of $1000 using 1.4% net profit daily compounding daily to get 500 trading days (two years) =1,043,666.09

    Risk of ruin (risk of blowing my account) = miminal as long as I do not discount a string of too many consecutive losses in a row, that hasn't occurred yet. Remember that the maximum risk on each trade is just 3% so there will be no large drawdowns or losses.



    The plan:

    For 500 trading days in 2 year, $1000 X 1.4% compounding daily = $1,043,666.09


    The machine:

    Technicals:
    I use the majority of the very basic indiors such as the 50ema, 100sma, 5sma, fibonacci, trendlines, pivots, daily/weekly/monthly S/R

    Fundamentals:
    I really do analyze only the major news such as interest rates statement, retail sales, GDP, and especially the speeches of high ranked officials. I blend technicals and fundamentals in creating my trade choice.





    Note: Compounding daily is incredibly aggressive. Unless you know what you're getting into, I don't suggest trying this. I am only risking $1000. When I blew up the account at anytime, I'd still lose roughly $1000.

  2. #2
    Starting balance for 10/26/08: $1000
    Target for 10/26/09: $31,321.29
    Target for 10/26/10: $1,000,000


    Target for 10/31/08 (week 1): $1071.99

  3. #3
    Quote Originally Posted by ;
    Short signal on Gbp/Jpy.

    Brief at 158.26
    sl 159
    That was fast. Stopped out for -2%.

  4. #4
    Daily Updates:

    Wins: 8
    Losses: 4
    Percentage gain: 2.7%
    New Daily Compounded Balance: $1027.48

    The secret to my system actually would be to have a hard stop in place. In case you have a stop in place, you would not even need to worry if there's 300 pips spike due to some amazed news. You could compensate for your losses later with one or two winning trades if it's possible to contain your losses. Most of the time, I abandon my tp open. The best thing about this is if that 300 pips spike has been in my own favor, assuming 40 pips equal 1%, I have only made 7.5% risking only 1%-3%.

  5. #5
    Hey Best of luck with your 2 year target there, Buddy. It may be done have to shaking in your boots as soon as you've obtained 100K from the account. . Most individuals aren't plogically prepared to be in charge of that money, why they never have it, and they make scenarios. Prepare your mind, along with your account balance.

    Cheers,


  6. #6
    Nothing is impposible..good luck bro. .

  7. #7
    Thank you for the well wishes. I am getting a signal on GU. Shorted at 1.5448, sl 1598

  8. #8
    Quote Originally Posted by ;
    Thank you for the well wishes. I'm getting a sign that is brief on GU. Shorted in 1.5448, sl 1598
    I'm out at .5417 for 1 percent profit.

  9. #9
    Quote Originally Posted by ;
    I Am Outside at .5417 for 1 Percent gain.
    Fine...

  10. #10
    Daily Updates: 10/28/08

    Percentage gain: 1.5% (daily target achieved)
    New Daily Compounded Balance: $1042.88

    I believe instead of being required to post my statement daily, I will just post it once the weekly target is achieved or the end of the week whichever occurs first.

    So much day 2 of 500 is moving perfectly according to plan...

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