Is it too adventurous to try and turn 1000 dollars into 1500 dollars in a month ?
Too adventurous is a nice way to put it.
This has been discussed on many threads already, just search the Newbie threads and you’ll see.
I think you really know the true answer anyhow
It depends how you try, I think. For myself, I don’t know of a way of trying to do this that’s consistent with safe or sensible risk-management parameters (though perhaps others may).
You’re asking about making [B]50%[/B] profit in a month.
I’ll mention what I frequently mention, on such occasions (imperfect analogy though it is, I concede) …
The top, professional, most experienced, most successful, institutional floor traders (the ones with the two maths degrees, the hundreds of hours of focused, specific, directed education, the thousands of hours of screen-time experience, and a professional risk manager standing over their shoulders) are [I]typically[/I] hoping and expecting to make a return of around [B]6%[/B] per month on their accounts, to earn their 7-figure salaries and bonuses - I’d love to know how a retail trader’s going to exceed that loosely defined “target” by more than 8 times. Who’s to say whether that’s “realistic” or “too adventurous”?
I’ll post again, actually, rather than just editing, because I’ve just realised that I didn’t even try to answer your original question (the one in the thread title-line) - sorry! … :8:
I’m not sure, but my own target, when I started, was to try eventually to achieve a steady-ish 5% per month (the “steady-ish” qualification being, of course, [B]hugely[/B] important!), without significant or dangerous drawdowns, and that it took me [I][U]many[/U][/I] years to achieve that target.
So I know that 5% per month (i.e. turning $1,000 into $1,050) [B][U]can[/U][/B] be an achievable target, for people who are lucky enough - as I admittedly was, myself - to have amost every conceivable advantage to start with, but I very strongly suspect that the proportion of aspiring traders ever achieving that steadily and safely is really pretty small. Apologies for a “depressing” answer (if it comes across that way), but “it is what it is”. :33:
On a brighter note, here’s a good thread: [B]301 Moved Permanently
As mentioned, thats 50% in a month. If you are lucky, then maybe you can do that for one month. But if you are aiming to repeat that performance in subsequent months, then you’ll most likely blow the account in a few months or less. Better to bet it all on black and cross your fingers.
If you don’t want to blow your account, then target 5% or less per month for 12 months on demo, then do the same thing live. 50% per year is a much more realistic target, and it’s also a fantastic return when you compare to other investments. For a comparison, my current approximate average stands at 3.9% per month compounded to around 58% per year.