Turning $800 into $1 million in 1 year

Hi FF members,

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

I'm taking on a challenge to turn $858.43 into $1 million dollars within 1 year.

Here's how it works. I've divided the year in weeks since my short term goal is weekly. I'm aiming for 15% return a week.

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

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

I'm currently on Week 7. So here's the table of how the equity is supposed to look like compounding 15% 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'm supposed to finish with at least $2,283.44 equity. So I'm currently a little behind and have some catch up to do.

To give a quick summary of what happened during the first 6 weeks, the first two I made over 15% each. The third I think I broke even. The fourth I lost a little bit of equity. The fifth I made some good recovery but finished slightly behind the weekly goal. And the sixth which was last week, I dropped a lot in equity (by trying to go long GJ on Friday, and it didn't take off as I expected).

So for now that's my introduction. There're lots more to talk about. Feel free to ask me anything.

I can't get too much into detail about my strategy/edge, but I can give an idea in general terms. I don't sell any teaching either for any money.

This journal has a much more inspirational, entertainment and social purpose, than it is educational.

So stay tuned, follow this thread, if things go well I promise to do some nice give away along the way with the people participating.

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

i honestly hope you make it man. i think we all want to see that one guy that made it from rags to riches (account wise). your TE will shine for ages and traders will talk about it for years..

Thanks for the encouragement.

That's my intention, it's to inspire people, show that it's achievable even if you have a high goal and also to open minds about the potential gains that can be made in Forex.

Many people settle or aim for too little returns while participating on a trillions of dollars a day market.

After looking at your current situation, I would say that the two major obstacles for successfully trading in long term are

1) You are over using leverage and
2) You seem to have pulled all your eggs in one basket

Though, I really like your ambitious dream because that's what makes living more fun. DREAM BIG, WORK CRAZILY, Let others call you fool or insane, just do it ))

Good Luck Mate,
Shiv

I cant believe how stupid people trully are. They always tend to surprise me.

You all do know the "Two Things Are Infinite..." quote of a very popular scholar, don't you?

And how EXACTLY do you plan to make those profits?

Have you found some free pips, lots of free pips, maybe even tons of free pips, to give you the comfort you need while turning a dinner for eight into a million?!?

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

Good Luck with your goal.

Few Tips :

1. Remove the trade explorer or make it private, because having it visible all the time adds unnecessary pressure on you and your trading decisions. Alternatively, you can share your results weekly or monthly to show your progress.
2. Accepting losses is part of the trading "business". At some stage you have to admit that your entry was incorrect, and must cut your losses to be able to fight for another day. If you have a sound system, recovery after a loss is much easier that recovering while in loss.
3. Forget the money, focus on pips gained, and increase your lot size as your equity increases. Making 5 to 10 pips a day is enough if you can make it consistently. You can trade with pip value equal to 1% of your equity (balance), so that making 5 pips a day adds 5% to your equity. Hitting +5 pips a day is far easier that targeting +50 pips a day. Many days you can achieve your daily pips target in the first or second hour after London, or NY open.
4. Focus on one or two pairs, preferably majors, because they are more readable and less jumpy. Best entries are on pullbacks above daily open for longs, and below daily open for shorts.
5. Don't make more than one trade at a time. If you were wrong, close immediately, and wait for another opportunity. If you make 2 consecutive losses on the same pair, leave it for a while (1 to 2 hours), you are not reading it correctly at the moment.
6. Have at least 15 minutes break between entries, during this break don't look at the charts. After the break look at the chart and wait for a new opportunity.
7. Once you hit your daily pip target, close everything and leave. Don't ever check the charts again that day, specially using your smartphone, market is so tempting, more than a sexy girl. It will tempt you to over trade and loose your gains if not more.
8. When your account grows heavily, split it into multiple accounts (preferably on multiple reliable brokers), and trade each account independently. You can also make insignificant withdrawals every now and then, to test the broker withdrawal process, and to form some sort of recurring income to keep you going.

Enough for now.

@abokwaik

You make some good points. Some of them I already do, others I don't do but I agree, and a few I disagree. Many are just a matter of preference, not a hard rule.

Speaking of trading only a couple pairs, here's one fact about me. I trade only the GBPJPY exclusively.

All day, every day. No other pair, no other instrument. I think it's important to focus.

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

good luck I have a similar goal by making at least 10% per day so I hope I will achieve it too

@raphaelfx

I also trade one pair at a time, usually USDJPY or USDCAD and continually raise my position to match profits. Trying to stay at 50:1 for margin so I can wait out a bad trade and make a profit on the rebound. Unfortunately that is sometimes a bad idea and have to wait a long time to make a profit and usually wish I had sold, taken the loss and bought it back at the lower price. Thanks for posting trades I signed up today when I saw your post and plan to follow you.

Nice progression
...any serious strategy you can share here? (...except that old grid pip hunting (martingale fashion)

Wish you all the Best, I've had similar experience but consistency was an issue, also I realised that having weekly Target puts pressure on my emotions and account, so I then focused on medium to Long term Targets whereby I spread my targets to as much as 500 pips or More and In such cases I could earn as much as 200-300 % of my balance, this takes patients and tolerance. You could do it with a good strategy with tight stops loss and an entry with ratio of 1:20 or more.

They still do either way ....winning or losing

Great post Khalil,

Wonder if anyone would take into consioderation your advice! Its too easy...need to overcomplicate it, more is better!

Nevertheless, wish you succes mate!

Subscribed best of luck to you

Subscribed and wishing you the best of luck

How did you settle on 15% number? only dreaming?

You need to watch at least the first part of this video

He says to remember the number 7

Inserted Video

I settled first on wanting to make 1 million dollars in 1 year. Then I asked myself, how much would I have to make weekly starting with that balance in order to pull that off. Then a compounding calculator shows that the closest number is 15%. Then I asked myself again, realistically do I think it's possible to pull off 15% weekly consistently. And the answer I came up with was yes.

So that's why I'm trying.

Mate I hope you do get lucky enough for it to keep working for the whole 52 weeks and you withdraw that million to buy a house.

My 2 cents, why do beginner traders always fall into the grid/martingale trap, I know I blew up two 2k accounts on it and I swear I have seen at least 30 blown up accounts on here too. I wonder if its just the psychology of seeing that 1million in a year and backtesting working (as it always loves to lie to you). I give this account 6 more weeks before it blows, but again just my 2 cents or 4k .

What lot are you trading and how do you plan on increasing the lot size ?

It's going to be extremely hard but it can be done if you put your mind to it

I also want to set a challenge for myself. Seeing people like you do it motivates me, inspires me.

Btw 15% per week is very doable, in fact easily achievable if you stick by your method and not mess things up.

Wish you lucky mate, and maybe you can share your strategy here.