Hello,
probably, every person after meeting with FOREX, imagined that he would soon become a millionaire. I admit, I'm no exception.
Obviously becoming a millionaire in forex is easy ... If you are a billionaire. But I'll leave test of this hypothesis until better times
Let's try to calculate what needs to be done to make a million on forex.
Let's say I'm not ready to sell my kidney to cover losses in trading. Therefore let's say my starting capital is $100.
To date, eurusd ADR about 85 points. And if we buy from the bottom every day and sell from above (this is my dream), then we will earn 85 points each day.
In our case, 1 point is equal to 10 cents (0.01 lot).
So every day we will earn 8.5 dollars. That's 8.5%. It's a good start.
I propose to increase the lot by 0.01 for every $ 100 of profit. Those. When our balance reaches 200, we will open a volume of 0.02 and so on.
I made simple calculations in Excel(in attached). And the result showed that with such productivity we will get the first million in 121 working days.
It's strange, but the first feeling that I had is that it's too long to wait.
In any case, the task has become a little simpler. Now it is enough to find an algorithm that makes it possible to catch 85 points a day.
Linkback: https://www.forex.zone/general-forex-discussion/1/dollar1-000-000-challenge/7/
