Turning $800 into $1 million in 1 year
Page 1 of 845 123 ... LastLast
Results 1 to 10 of 41

Thread: Turning $800 into $1 million in 1 year

  1. #1
    Hiforexforum.co.zaassociates,

    I'd like to share with you a plan/goal of mine which it is already underway but it's still in the beginning so you all have the chance to follow.

    I am taking on a challenge to flip $858.43 into $1 million dollars within 1 year.

    Here's how it works. I have divided the year in months since my short-term aim is weekly. I am planning for 15% return weekly.

    1 year has 52 weeks. So if I can pull this off aim of 15% weekly consistently, I will have just over $1 million dollars in the end of my long-term goal which is 1 year.

    This account was created on April 20th 2017 plus a deposit of $858.43 was created and I started trading straight away.

    I am currently on Week 7. So here is the table of how the equity is supposed to look like compounding 15 percent weekly:

    Week / Weekly gain / Balance
    1 $128.76 $987.19
    2 $148.08 $1,135.27
    3 $170.29 $1,305.56
    4 $195.83 $1,501.40
    5 $225.21 $1,726.61
    6 $258.99 $1,985.60
    7 $297.84 $2,283.44
    8 $342.52 $2,625.96
    9 $393.89 $3,019.85
    10 $452.98 $3,472.83
    11 $520.92 $3,993.75
    12 $599.06 $4,592.82
    13 $688.92 $5,281.74
    14 $792.26 $6,074.00
    15 $911.10 $6,985.10
    16 $1,047.76 $8,032.86
    17 $1,204.93 $9,237.79
    18 $1,385.67 $10,623.46
    19 $1,593.52 $12,216.98
    20 $1,832.55 $14,049.53
    21 $2,107.43 $16,156.96
    22 $2,423.54 $18,580.50
    23 $2,787.07 $21,367.57
    24 $3,205.14 $24,572.71
    25 $3,685.91 $28,258.62
    26 $4,238.79 $32,497.41
    27 $4,874.61 $37,372.02
    28 $5,605.80 $42,977.82
    29 $6,446.67 $49,424.50
    30 $7,413.67 $56,838.17
    31 $8,525.73 $65,363.90
    32 $9,804.58 $75,168.48
    33 $11,275.27 $86,443.75
    34 $12,966.56 $99,410.32
    35 $14,911.55 $114,321.86
    36 $17,148.28 $131,470.14
    37 $19,720.52 $151,190.67
    38 $22,678.60 $173,869.27
    39 $26,080.39 $199,949.66
    40 $29,992.45 $229,942.10
    41 $34,491.32 $264,433.42
    42 $39,665.01 $304,098.43
    43 $45,614.76 $349,713.20
    44 $52,456.98 $402,170.18
    45 $60,325.53 $462,495.70
    46 $69,374.36 $531,870.06
    47 $79,780.51 $611,650.57
    48 $91,747.59 $703,398.15
    49 $105,509.72 $808,907.88
    50 $121,336.18 $930,244.06
    51 $139,536.61 $1,069,780.67
    52 $160,467.10 $1,230,247.77

    As you can see, by the end of this week (which is 7) I am supposed to finish with $2,283.44 equity. So I am currently a bit behind and have some ch up to perform.

    To give a fast summary of what took place through the first 6 months, the first two that I created over 15 percent each. The third I think I broke even. The fourth I dropped a little bit of equity. The fifth I made a few good recovery but finished slightly behind the weekly aim. And the sixth that was last week, I fell a lot in equity (by attempting to go long GJ on Friday, and it did not take off as I anticipated ).

    So for now that is my introduction. You will find lots more to talk about. Don't hesitate to ask me anything.

    I can not get too much into detail about my egy/edge, but I can give an idea in overall terms. I don't sell any teaching either for any cash.

    This diary has a far more inspirational, amusement and social purpose, than it is eduional.

    So stay tuned, follow this thread, in case things go well I promise to perform some nice give away across the way with all the people participating.

    Everybody is welcomed to comment, lurkers, fans who need me to succeed and even haters (who help fuel my drive to enhance myself).

  2. #2
    Quote Originally Posted by ;
    Subscribed and wanting you the best of fortune How did you settle on 15% amount? Only dreaming? You have to watch at least the first part of the video He claims to keep in mind the amount 7 https://youtu.be/eOykY2SMbZ0
    I settled initially on needing to make 1 million dollars in 1 year. Then I asked myselfhow much would I have to make weekly starting with that equilibrium in order to pull off that. Then a compounding calculator shows that the nearest number is 15%. Then I asked myself again, realistically do I think it's likely to pull off 15% weekly consistently. And the answer I came up with was yes.

    So that is why I'm trying.

  3. #3
    Quote Originally Posted by ;
    quote since he utilizes progressive lots, average pip count is irrelevant. To give an example: https://www.forexforum.co.za/cryptoc...ion-tp-ea.html145.160.3282:1 4.6percent $310 109 https://www.forexforum.co.za/trading...d-betting.html145.180.0615:1 -1.2percent -$83 -154 what's the average pip count? ( hint: -22.5 pip) is he earning profit on this? ( hint: YES!) Some measurements are useful on one way of trading, a few on another. There is a major difference between...
    Sorry I might not be knowing what you've done to get that -22 pips per trade, have you ever weighted the pips obtained with the lot size utilized to place the trade? I.e. 10 pips at 0.01 lot = 10pips and 5 pips at 0.02 lot= 10pips?

    If that is the case I addressed that problem by simply stating that keeping the lot size at 0.01 for each trade would mean that an average pip per trade gt;1.0 would still make you a profitable trader.

  4. #4
    Quote Originally Posted by ;
    I honestly hope you make it man. I believe most of us wish to find that one man that made it out of rags to riches (account shrewd ). Your TE will glow for ages and traders will discuss it for years. .
    Thank you for the encouragement.

    That is my intention, it is to inspire folks, show that it is achievable even in the event that you've got a high goal and also to open minds about the potential profits that can be reached in Forex.

    A lot of people settle or aim to get too small returns while participating on a trillions of dollars a day market.

  5. #5
    Quote Originally Posted by ;
    Helloforexforum.co.zaassociates, I'd love to share with you a plan/goal of mine that it's already underway but it's still in the start so you all have the chance to follow. I'm taking on a challenge to flip $858.43 into $1 million dollars within 1 year. Here is how it works. I have divided the year in weeks because my short term goal is weekly. I'm planning for 15% yield weekly. 1 year has 52 weeks. So if I could pull this off goal of 15% weekly consistently, I'll have just over $1 million dollars in the conclusion of my long-term goal that's 1 year. This account was made...
    After looking at your current situation, I'd say that the two major challenges for successfully trading in long duration are

    1) You're over using leverage and
    2) You appear to have pulled all your eggs in one basket

    Though, I truly enjoy your ambitious dream because that is exactly what makes living more enjoyable. DREAM BIG, WORK CRAZILY, Let others call you fool or crazy, just do it ))

    Good Luck Mate,
    Shiv

  6. #6
    I cant believe how dumb individuals trully are. They always tend to surprise me.

    You do know the 2 Things Are Infinite... quote of a very common scholar, do not you?

    And how EXACTLY do you intend to make those profits?

    Perhaps you have discovered some free pips, lots of free pips, maybe even tons of free pips, to give you the relaxation you need while turning a dinner for eight to a million?!?

  7. #7
    Best wishes my friend. I want you do it. Its not Impossible. Don't time bound yourself because it will put you in hurry situation and eventually you will make erroneous decisions.

  8. #8
    Good Luck with your goal.

    Few Tips :Eliminate the commerce explorer or make it personal, because using it visible constantly increases unnecessary pressure on you and your trading choices. As an alternative, you can share your outcomes weekly or monthly to clearly show your progress. Holding losses is part of the trading business. At some stage you need to admit that your entry was wrong, and must reduce your losses to have the ability to fight for another day. In case you have a strong system, retrieval after a loss is much simpler that recovering while in loss. Forget the money, focus on pips gained, and elevate your lot size as your equity increases. Earning 5 to 10 pips per day is sufficient in the event that you're able to make it consistently. You are able to exchange with pip value equal to 1 percent of your equity (balance), so that earning 5 pips per day adds 5% to your own equity. Hitting 5 pips per day is much simpler that targeting 50 pips a day. Many days you are able to reach your daily pips goal in the first or second hour after London, or NY open. Focus on one or two pairs, rather majors, because they are more readable and less jumpy. Best entrances are on pullbacks above daily available for longs, and below daily available for shorts. Don't make more than 1 trade at a time. In the event that you were incorrect, shut instantly, and wait for another chance. If you create 2 consecutive losses on the exact same pair, leave it for some time (1 to 2 hours), you aren't reading it properly at the moment. Have at least 15 minutes break between entrances, during this break do not look at the charts. Following the rest look at the chart and await a new prospect. As soon as you hit your daily pip goal, shut everything and depart. Don't check the charts that day, specially using your smart phone, market is indeed tempting, over a hot woman. It will tempt you to over trade and loose your profits if not more. Whenever your account develops heavily, split it into multiple accounts (rather on multiple reputable brokers), and trade each account independently. You can also make insignificant withdrawals every now and then, to check the broker withdrawal procedure, and to form some sort of recurring earnings to keep you going. Enough for now.

  9. #9
    @

    You make several great points. Some of them I already do, others I don't do but I concur, and a few I disagree. Many are only a matter of taste, but not a rule.

    Talking of trading just a couple pairs, here's 1 truth about me. I trade just the GBPJPY exclusively.

    Each day, every day. No additional pair, no additional instrument. I believe it's important to focus.

    If trading just 1 pair is already painfully difficult, only imagine multiple at the exact same time.

  10. #10
    Good fortune I have a similar goal by making a minimum of 10% per day, therefore I hope I could achieve it too

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.