So a chance reading of one of those $250 to a Million forex threads a few weeks back prompted me to throw my hat in the ring and try a little silliness myself. I didn't take it all that seriously the first week. But after that first week I started to think, "hey, what's wrong with you? Why treat this as a throw away and not care whether it goes or not when you know darn well there is no reason for it not to go. Just do it, and learn something in the process."
So, I scrapped the first week's (profitable) results and started last week with a "grand opening" positive attitude and a seriousness of purpose to do this thing right.
As a result, I have given much more thought to how I should get from $2K to $200K, and after today's trading results, the following thought occurred to me: I have, since last Monday (6 trading days) almost doubled my initial stake. I also remembered having read an article somewhere at sometime in my past that explained that the best way to achieve a Big Goal is to break it down in to more easily manageable, more easily believable little goals. By "believable," what is meant is goals that are easily believed by me. And since it is easy for me to believe that I can use a $2K margin to trade the ES and over a couple of weeks time accumulate $2K in profits, I thought to myself, "let me frame this quest in just those terms" And so I have been working on how to that and here is what I have come up with:
As you can see, I've added two additional levels after the $200K objective.
Now I can tell you, the notion of a stay-at-home retail trader parlaying a $2000 stake into a $1,000,000 in a little over a year sounds as far-fetched to me as it likely does to you. But gosh darn it when I put it on paper and place it in a spread sheet and consider risk management and sound (albeit aggressive) compounding (and though aggressive also limited risk reducing) it looks pretty darn reasonable to me lol.
After all, it isn't really taking $2K to $1,000,000 straight off. It is merely starting with $2k and doubling. The doing that exact same again. And again. But if I can do it once, why not again? And again?
Do you see what I mean? I think my math in the spreadsheet is correct, but I am beyond tired and I will have to check it over the coming days. But whatever adjustments, that spreadsheet now defines my plan. No reason for me to doubt that I will make steady progress toward the goal. There is no try, only do.
So, I scrapped the first week's (profitable) results and started last week with a "grand opening" positive attitude and a seriousness of purpose to do this thing right.
As a result, I have given much more thought to how I should get from $2K to $200K, and after today's trading results, the following thought occurred to me: I have, since last Monday (6 trading days) almost doubled my initial stake. I also remembered having read an article somewhere at sometime in my past that explained that the best way to achieve a Big Goal is to break it down in to more easily manageable, more easily believable little goals. By "believable," what is meant is goals that are easily believed by me. And since it is easy for me to believe that I can use a $2K margin to trade the ES and over a couple of weeks time accumulate $2K in profits, I thought to myself, "let me frame this quest in just those terms" And so I have been working on how to that and here is what I have come up with:
As you can see, I've added two additional levels after the $200K objective.
Now I can tell you, the notion of a stay-at-home retail trader parlaying a $2000 stake into a $1,000,000 in a little over a year sounds as far-fetched to me as it likely does to you. But gosh darn it when I put it on paper and place it in a spread sheet and consider risk management and sound (albeit aggressive) compounding (and though aggressive also limited risk reducing) it looks pretty darn reasonable to me lol.
After all, it isn't really taking $2K to $1,000,000 straight off. It is merely starting with $2k and doubling. The doing that exact same again. And again. But if I can do it once, why not again? And again?
Do you see what I mean? I think my math in the spreadsheet is correct, but I am beyond tired and I will have to check it over the coming days. But whatever adjustments, that spreadsheet now defines my plan. No reason for me to doubt that I will make steady progress toward the goal. There is no try, only do.
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