2009-12-03

Day 24 "No cries over spilled milk"

Author: Arslan | Posted at: 12:55 PM | |
Today I had a decent profit of 13 $ The last two poitions I actually closed earlier than I wanted, but no cries over spilled milk since Im ahead of the plan again. The USD/JPY position I also closed under the Takeprofit. It was just important to hold the profit, so in the end I reached my goal.

BTW check out the new Equity Chart, it now shows the targeted (ideal) line and the acchieved. Hope you know what I mean ;)

Targeted Day-Profit: 7,92 $
Achieved Profit: 13,00 $
Targeted Cash Balance: 230,99 $
Current: 239,45 $
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My Name is Arslan im an architecture student living in Germany. Since the young age of 15 I've been interested in trading stocks and recently I started trading the FOREX market aswell. Since I like challenges I thought it might be interesting to try trading 100 $ into one Million $ in the short period of one year. Neither do I consider myself a "Inverstment-Guru" nor do I follow some fancy secret methods of such a person, rather I stick to the basics of trading. If you have Questions or just need someone to write to contact me here.

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This site is basicly a diary of my attempt to become a Daytrade Millionaire in one year. I will daily update the blog with new informations about the placed positions and the resulting profits and as the case may be losses ;) The project starts on November 2nd, 2009 and ends on Oktober 31th, 2010.

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How I'll do it

To turn 100 $ into 1.000.000 $ in one year the capital has to grow daily by 3,55 % (first day the profit should be minimum 3,55 $ the last day about 36 k $). I will never trade more then 5% of my account value, so I can keep the risk on a decent level. I will trade only the Forex market because the comissions are more attractive and the trading plattforms more suitable for my experiment since it requires a small amount of money to start trading with. This is my plan.

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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The purchase, sale or advice regarding a currency can only be performed by a licensed Broker/Dealer. Neither Mr. Muminovic, nor any of his affiliates or associates involved in the in the production and maintenance of these products or this site, is a registered Broker/Dealer or Investment Advisor in any State or Federally-sanctioned jurisdiction. All purchasers of products referenced at this site are encouraged to consult with a licensed representative of their choice regarding any particular trade or trading strategy. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
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