Turning $1000 to $13000 in 3months

[Ben]

Hello Immy, could you please show us guild on how to do this?

[immy]

Ben

So you want to know how to turn a thousand dollar in to thirteen thousand dollars in 3 months. Lets look at it a different way. but first, is it possible, Sure it is possible. Is it easy? hmmmm, probably NOT. The thing is there is a fine line between being able to make money / pips trading and NOT. Once you cross that line, you experience what we call the quantum leap. But there is yet another quantum leap to follow. That happens at the moment that I'd like to call the The Zone. If you experience the ZONE the market turns into an unlimited cash machine. Extract as much as you like, until then lets do some maths.

$1000 into $13,000
(I don't know why exactly you want 13,000 dollars but lets go ahead without knowing that. Lets suppose 13k is the ultimate amount you'd like to have and once you've achieved that its probably a. end of the universe of b. the Start of the next phase. Just kidding)
Growth Required in 3 months in percentage = 1300 % in short

You need between 2-2.5% growth per day to turn a 1K into 13K. Not impossible at all. But then there are loads of ways of doing it .E.g. do you want to trade 1% per trade and gain 2-2.5% per day? or do you want to risk 2% per trade and so gain 2% or more. There are countless permutations and combinations. But the most important thing is to be able to trade in the first place. The first thing , the first step is to learn to trade. Once you achieve this goal no 1. Then one can look in to setting ambitious targets like so. In the meanwhile I'd suggest everyone to set monthly targets between 10-15% per month. It is possible with 1% risk per trade.


Cheers

ps: I know someone very close to me who turned a 3K account into 13K within 6weeks. 466% account growth but it involved a mix of several factors such as a few aggressive trades, trending markets, a very good trading environment and some luck.

[Kyle]

Hey Ben,
Before even considering a finite profit amount in 3 months, you need to be sure that you can be a consistently profitable trader. Remember that the market has different behaviours, so you need to be proficient in trading through trending markets, and ranging markets and even the current "fearful" markets.

A problem I see that occurs when you are after a % return is that you may also "stretch" you trading rules to cover the gain you "Need" for your return for the week/month.

I have been on a very slow track to learning AIMS due to my time zone, work habits etc, but I am happier to learn it thoroughly over 12 months and to become a consistent trader then, than to rush and complicate things with a return required each day. A much better way to trade, in my opinion, is to start with your initial balance and compound until you end up with a base balance which will be acceptable for your regular profits.

One example would be Grant. It looks to me that he quite often gains around 1% a day consistently (yes, many times more than that and many fewer times less than 1%). If I could end up trading similar to Immy or Grant once I feel I am consistent, then I believe that I will be a very fortunate and financially independant trader

[wiseambitions]

I just found this thread, and made my own calculations

3 months are approximately 60 trading days

1000 to 13000.........

In my analysis it would require daily average compoundable gains of 4 per cent in days markets open.(just under 3pc of all 90 days inc. weekends).

Is anyone seeing that kind of return?

Most of the guys on here who do report their growth rates, and not many do talk in these terms, generally have a Stop Loss in region 10 pips to start with, and 1% risk per trade.

See attached spreadsheet

Therefore to get the requisite 4pc daily they would need 40 pips of net profit.

That is a tall order, and an achievement which most would be very satisfied to see in a week not in a day. In order to get 40, it would probably require more than 12 hours of screen time and watching multiple currency pairs.

On the other hand if they had a stop loss of 5 and a risk of 2% per trade, then instead of 40 pips a day it would reduce the requirement to 10 pips of profit a day in order to achieve 4% return on capital.

That is something I would not consider un-achievable but high leverage brings much added risk.

On the other hand I don't think 1000 to 13000 in 12m is an impossible task. It would require daily growth of about 1.1%, on market open days, allowing yourselves a few holidays.
11 pips a day at a risk of 10, would do it!