My Journey to a $1,000,000

This will chronicle my journey to a million dollars over the course of a lifetime before the public eye. As ridiculous as it sounds, I shall go even further by stating I am starting with a $300 mini-account. Being that is what I can afford to lose at the moment. All trades will be taken with 8% margin or less. I may or may not begin using an EA for automated trading in the near future, until then these are all manual trades. Let's get started:

1st trade:
2/28/07
GBP/USD
Entry - Sell 1.9621
Result - Stopped Out +22 or 3.6%

Wishing you a fast journey

Good Luck

I Wish All the best for you mate!
I really hope your dreams will become a reality if you really want it!

Wish you a lot of profitable trades and an exciting career inf FX Market

Do 2% a day and you will get there. Good luck.

If you are really interested in one day possibly making $1mil, the first thing to do is stop thinking about making $1mil.

Its great to have a financial goal but the real goal is to trade right. As has been said million times before: Trade the plan, plan the trade. The money will then follow.

I wish you well. If you are following a system follow the rules and stick to it. You will have your ups and downs but you have to keep it going.

You'll realize soon..

anyways, good luck

There is just 1 thing to retain here. Before you start trading you must have at least to know the potencial of the exponencial in mathematics.

I confess that im relatively new at forex, and i cant say how will be my performance in the future, but... one thing i can say... There are ppl who gets hundreds of pips per month and its possible to be a millionaire just getting 50 to 150 depending of the proportion between the total available, or in other words depending of the money management rules of the person.

Example. Imagine a guy who in every trade uses 1/10 of all of his money, and gets 150 pips per month (average).

The proportion from the total to the next month is 1.15. Now lets see..

300 x (1.15^60months) "5 years" = 1 300 000 more or less...

You can try other examples like investing 1/5 and earning just 100 pips.. that will get you a 1.2 progression per month or try... 1/3 with just 50 pip = 1.16

200 pips.. with 10 percent.. 1.2 progression.

Lets take a look at your example. If you use 8 percent of your total, and get 150 pips per month, at least you have more than 200 000 dolars in 5 years, but if you get 200 pips per month with the same investment you will have more than 2 million.

The other guy is saying that with 2 percent per day and you will get millionaire in a life time. But lets see... 300 x (1.02^365) "one year" = 400 000... Something its telling me that you will get there sooner with this progression lol.

So you want one million in a life time? Become a moderate/good trader, and you will get that sooner than you think. 1/10 per trade ... 150 pips month... 5 years ... more than 1 million. Dont believe me? Take the calculator and start doing the math.

The explaination is very simple...

Some traders have the gift.. the power to predict pip avalanches in their way. But i firmly believe that many of them have the stupidity to withdraw the profit every and every month, and the consequence is earning some thousands of dollars at the maximum because they dont re invest the profit.

So, dont pay no attencion to the laughs because they probably didnt even got beyond the math class.

Get rich and THEN withdrawn the money.

Want to know the power of a exponential progression?

Try to double 1 cent every day for one month. I didnt say 1 dolar i said 1 CENT.

At the midle of the month you have a few hundred dollars in value, whats that? nothing.. few bucks.., but by the end of the month you have 10 Million Dollars. Its like an hidden goal. The person thinks that its not getting any progression but dont really know whats coming.

So good luck.

I didnt said i can do it, im just saying that its FAR from impossible.

By the way. With the method i gave you.. try to discover what would happen if you get just 10 pip per month for 50 years... (600 months reinvesting profit)

And then try the same with 15 pips.

I help you... with 10 pip you have progression of 1.01 and 1.015 with 15 pips assuming that you invest 1/10 every time.

Well what if i say that 300 x (1.01^600) = 117 000 and 300 x (1.015^600) "just more 5 pip" = 2 000 000 ?

Exponential my friend.

The calculation its not entirely accurate but believe me, the results dont get very far from this ones. The general idea is that it makes a huge diference with stupid spender ppl who burns out the profit and ppl who waits to get a real bulk and than start spending.

Don't pay attention to this member. It's all about support.

Here's to wishing you good luck & many pips in your endeavours!!!



D.

forexfactory has a reputation of being supportive, lets keep it that way.

Being realistic is a better idea. Hey I hope everone here makes it to a $1mil. But reality is 80/90% will not even be around in 6 months.

A $300 mini account is better invested in 300 Lotto tickets. At least the payout is in multi-millions and less work involved.

Also about the same odds.

Ok, seriously... This mentality is getting old. I started in July of last year with $248. It is now 8 months later and I am trading about $2.5k. Granted $1000 more was deposited, but still, 1.2k profit on 1.3k of capital. Let me tell you that I have bought Lotto tickets, and I have traded forex, and I win way more consistently with Forex.

If you take this business seriously and work hard with discipline, it's hard to lose in my opinion. I'm really tired of people telling "newbies" the odds are against them every hour of the day as if your insight is "keeping newbies out of trouble".

Not trying to sound rude here, but given a good work ethic, there is a lot that is attainable.

*Step down from soap box*

Kevin

being "realistic" never got anyone anywhere. that's what the losers say.

it's only when you reach out and try something hard that you get somewhere worth being.

Guys,
Its possible and we can all do it. I started trading 3 years back with $5,000. As of today my account balance is $69,000. I take less than 10 trades a month, most of them being swing trades and keep a simple journal of all the trades that i do. I spend 30 mins a day going over all the fundamentals and the same amount of time going over technicals.

Basically we just need to keep our emotions at check and make sure that we believe our own analysis and keep targets as fixed. Traders generally like to let losses run into bigger losses because they hate to believe that the market could go against them but when its time to take profits, we cut ourselves short sooner than we should have. Making a ew pips on a trade makes us forget all that we have lost and then all of a sudden we have a rush to enter into more trades without actually studying them. This is where most people lose their money.

Point being - it has been done and can be done - All you need is good money management - everyone says it but few follow and those who follow make it big. Those who dont lose their money sooner rather than later.

Girish

for God's sake..just let the guy do his journal..

Amen!

please stop posting, just let this guy post his journal.
Pay a little bit of respect to this thread host.