What are your future financial goals? | Forex Factory

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What are your future financial goals?

  • #1
  • First Post: Edited Jul 19, 2017 7:44am Jul 14, 2017 5:15am | Edited Jul 19, 2017 7:44am
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  • #2
  • Jul 14, 2017 5:43am Jul 14, 2017 5:43am
I'll start it off. My goal over the next 5 years is to reach $1 million in trading profits.
  • #3
  • Jul 14, 2017 6:40am Jul 14, 2017 6:40am
Quoting Madinvestor
I'll start it off. My goal over the next 5 years is to reach $1 million in trading profits.
Glad to hear that mate
Maybe you can be more specific about your average monthly / yearly return and equity? To understand how extensive your goal is.
  • #4
  • Edited 7:00am Jul 14, 2017 6:49am | Edited 7:00am
I always split my goals this way:
FACT: what I know I can do.
THEORY: what I think I can do.
VISION: what I WANT to do.

MY GOAL BREAKDOWN FOR THIS YEAR (started APRIL) IS:
FACT: beat money market account with my FX account.
THEORY: Make 3000 (6 months - deposit of 1500 over period) / 6000 (1 year - deposit of 3000 over period).
VISION: make 25% of my salary amount in trading profit.

This is a passion of mine, but still has not grown out of the initial "experiment stage."

I'd also like to hit the million mark, but for me my first is make a large percentage salary, then I'll worry about that next year.
*If I went lights out, I could technically get to the million but yeah... new and not executing "perfectly" yet and have been missing a slight amount of luck needed AND I'd definitely need to up my deposits so...

The idea of the FACT/THEORY/VISION stuff is that you use the "FACT" to motivate you to escape the "fear" and even act in the first place, you work toward the "THEORY", and as you do that, you usually end up getting the "VISION" anyway. So once you hit the "VISION", you setup a new, bolder one and repeat the process. The "VISION" also helps you to visualize and get/stay emotionally involved with your goal so that you will stay in it for the long haul even when things look bad.
  • #5
  • Jul 14, 2017 6:54am Jul 14, 2017 6:54am
Well, I am very serious with my trading goal since Forex is the only one way of my financial source! By the way, I have no pan like 1 million or billon profit! I trade based on my monthly target; right now I am trading with 15% target. In addition, I have a plan to increase it around 18% from the upcoming 2018.
  • #6
  • Jul 14, 2017 7:01am Jul 14, 2017 7:01am
Quoting skillz16
This is a passion of mine, but still has not grown out of the initial "experiment stage."
I wish you all the best on your way to financial independence!


Quoting NeilWagner
Well, I am very serious with my trading goal since Forex is the only one way of my financial source! By the way, I have no pan like 1 million or billon profit! I trade based on my monthly target; right now I am trading with 15% target. In addition, I have a plan to increase it around 18% from the upcoming 2018.

Solid numbers, keep it up!
  • #7
  • Jul 14, 2017 7:08am Jul 14, 2017 7:08am
I have always been a humble guy. My goals are as humble as I am. I plan to make $200k a day, on average, each day of the year. The average includes the weekends, ext. Maybe in 2020 I will get close to my goal. We will see this in the first half of 2018. It might be even sooner...
Maadik Hugiis. IQ 69.
  • #8
  • Jul 14, 2017 9:54am Jul 14, 2017 9:54am
My goal is to be a rich bitch.

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The funniest, is that nobody takes me seriously.
  • #9
  • Jul 14, 2017 10:03am Jul 14, 2017 10:03am
goal: 12 consecutive winning month.
currently: at 5

big picture: retire within 5 years from my job.
currently: closer than i want to believe it.
there is always, always another trade!!
  • #10
  • Jul 14, 2017 10:14am Jul 14, 2017 10:14am
have no goals, but have all the conviction.

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  • #11
  • Edited 4:06pm Jul 14, 2017 3:54pm | Edited 4:06pm
hahahaha veery good question. I think that if you can't answer it, you don't know what you're doing.
my goal is to make 1000% every two months. you may say WTF!? I say: why not!?
  • #12
  • Jul 14, 2017 4:35pm Jul 14, 2017 4:35pm
Quoting HeyYou
hahahaha veery good question. I think that if you can't answer it, you don't know what you're doing. my goal is to make 1000% every two months. you may say WTF!? I say: why not!?
then you calculate something wrong maybe when you target 1000% in 2 month very often? making percent you need to calculate this for all the money you have.
if you have a real estate, money on bank account, money in insurances, a 100k car, company shares, all values in and out of the broker account (of course with fair value rated, what you can get after you will sell it in fair time). for all this values you calculate you money more each year. this is only calculation possible for percent earning, only calculating 1 account is stupid, many have more loss in other account alone then 1 account shown profits.

for many the percent/year go down extrem, when calculated correctly.
  • #13
  • Edited 5:00pm Jul 14, 2017 4:50pm | Edited 5:00pm
Quoting dukas_trader
{quote} then you calculate something wrong maybe when you target 1000% in 2 month very often? making percent you need to calculate this for all the money you have. if you have a real estate, money on bank account, money in insurances, a 100k car, company shares, all values in and out of the broker account (of course with fair value rated, what you can get after you will sell it in fair time). for all this values you calculate you money more each year. this is only calculation possible for percent earning, only calculating 1 account is stupid, many...
If you mean I can blow several accounts before reaching the goal... that's part of the business!
when you try to maximize returns you must be ready to blow some accounts.
  • #14
  • Jul 14, 2017 6:20pm Jul 14, 2017 6:20pm
Quoting HeyYou
{quote} If you mean I can blow several accounts before reaching the goal... that's part of the business! when you try to maximize returns you must be ready to blow some accounts.
no, you dont maximize return with this kind of trading, you dont invest all money and split it. so have invested 1/10 of your money in the account, and having 100% is only 10% win for your money, other with all money in their account and 15% return have a 50% better result.

thatswhy my text, you need to calculate the return correct, the 1000% in 2 month is only for part of the money, so you need calculate it to all money you have, not only the money in the account.
  • #15
  • Jul 14, 2017 6:49pm Jul 14, 2017 6:49pm
My goal is to make $1000 per day before the end of the year. I know I WILL make it because I am a very smart guy and I got really good intuitions. My progresses have been amazing since last months and I am consistently profitable despite some drawdown periods.

I worked hard on my biggest flaw, which is lack of discipline and it will be definitely memory in the very short future.
Don't give up on your dreams. Keep sleeping.
  • #16
  • Jul 14, 2017 9:13pm Jul 14, 2017 9:13pm
my goal is to implement my trading rules.
  • #17
  • Jul 14, 2017 10:47pm Jul 14, 2017 10:47pm
exactly what im doing now BUT with a bigger capital =)

the thing is that trading its my only income, and i need to balance withdrawls vs capital.. i want a bigger capital BUT i need to withdraw money to live lol

its a bit "annoying" but doable; (i have the plan to make it, but its going to take a little time thats all)
  • #18
  • Jul 15, 2017 1:24am Jul 15, 2017 1:24am
Quoting dukas_trader
{quote} no, you dont maximize return with this kind of trading, you dont invest all money and split it. so have invested 1/10 of your money in the account, and having 100% is only 10% win for your money, other with all money in their account and 15% return have a 50% better result. thatswhy my text, you need to calculate the return correct, the 1000% in 2 month is only for part of the money, so you need calculate it to all money you have, not only the money in the account.

yes ideally I split the investment in order to sustain 5 losses and the 1000% refers to the total investment amount.

I was abit high yesterday that's why the "optimism" in my post... this forum just drives me nuts!
  • #19
  • Jul 15, 2017 1:36am Jul 15, 2017 1:36am
I have known more than a few rich people and also a few who are/were very rich. One thing in common among many of them is their concentration on what they will save as much or more than on what they will make.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #20
  • Jul 15, 2017 2:36am Jul 15, 2017 2:36am
Quoting dukas_trader
{quote} no, you dont maximize return with this kind of trading, you dont invest all money and split it. so have invested 1/10 of your money in the account, and having 100% is only 10% win for your money, other with all money in their account and 15% return have a 50% better result. thatswhy my text, you need to calculate the return correct, the 1000% in 2 month is only for part of the money, so you need calculate it to all money you have, not only the money in the account.

btw that's the IDEAL goal.. it could take up to 20 years but in the end I will not lose more than 5 attempts, that would mean I have no edge anymore and I'm not interested in gambling . as The_Fool says, risk management is a priority if you want to survive in any business.
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