Hi Everyone,
I hope you're having some good trading days. I'm kicking back with a fancy watermelon drink and enjoying tuning out.
I watched this 8 min Tony Robbins video while relaxing and after it ended I thought what would I like to achieve?
I'd like to put aside $5k and double it ten times this year.
Obviously daytrading and 2 to 3 day trading provides opportunities to double small amounts of money but what about as we get higher capital?
At what level is it hard to make a high percentage? And how many trades of a smaller percentage would it take to double it over a week taking 3 to 5 % profit margins? I know sometimes I make lots of trades and feel like it's been a hard week to make my wage and then a simple 5% trade on LNG or A2M etc with higher capital invested, returns more in one hour than my week's work prior. I'm sure I'm not alone.
Is it reasonable to not take any wage and try and double your profit monthly? Is it just insane and ridiculous? Is it all three? Is it a feasible goal to have a $10k or $20k base and double just the base monthly? Who else wonders these things and who has seen people set out to do these things and either succeed or fail?
@mouse Do I remember correctly that you are experimenting with similar ideas?
@higo I can see you rubbing your hands together saying yes! lol But what do you see as the capital threshold for being able to double your investment in either in a week? or a month? It's easy to double $2k in a month but could you double $50k?
Maybe these thoughts are better suited to a bull market but I find it interesting that mathematically, it would only take 12 to 15 profitable 10% trades to double your money in a month, allowing for good risk management with a small percentage of losing and cost trades. I'd love to hear others' thoughts on the subject.
hmmmmm Pineapple time . . .
Don't mind if I do.
