TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

My own Trading Challenge

by Gav

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I have an idea. I am pretty much getting bored of trading <-> blogging routine, though I really love these two activities. So, I decide to start a trading challenge , for myself. Basically, I am pulling in a small A$15,000 (around US$13,777, well who loves USD nowadays? :p ) and start managing it. The money will be used in trading Forex, Australian stocks and indices(until my futures account get set up, I will use CFD for the time being). By the way, I am talking about real money, live account.

The target is to achieve a couple of milestones. First milestone is to double the account , monetary target is A$30,000. Second milestone is to achieve A$60,000, and the third one is A$100,000. I think this is enough at the moment. It is pointless to set a 1 million dollar target before I can even achieve $100 k milestone. :-) . No fixed time line, no adding pressure. Just to measure my own performance at end of each month with a defined goal to work on.

So, maximum risk amount is hard cold 2% per trade, with weekly stop point is 10% loss. More details of how I am going to utilize this fund is coming later.

This is not to create another hoo-ha in the blogsphere. I am not showing you 'how-to' make million in trading. Instead, just to test my own skills in trading and fund management.

Fund allocation and my portfolio will be updated at Track Records page. Let's get the game started.

Update: Oops, It seems like Timothy Sykes is doing something bigger. He is going to show people how to turn $12,415 to $1.65 million. uhm... interesting.. I am the copy cat here :lol:

Comments

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  1. xiaozhong lu
    Wahoo!! Your milestone is so ...scaring me!!
  2. xiaozhong lu
    Wahoo!! Your milestone is so ...scaring me!!
  3. Gav
    Comparing to those who set a million dollar target, mine is just a peanut, isn't it? :)
  4. Gav
    Comparing to those who set a million dollar target, mine is just a peanut, isn't it? :)
  5. Jeff
    If you're interested in a trading challenge, there is the CNBC Trading Matters Challenge where you can trade an imaginary $100,000 online over 10 weeks.. it started on the 12th of november 2007.
    1. Gav
      Jeff: Thanks for the invitation. I prefer to trade my own money in live trading though. :-)
  6. Jeff
    If you're interested in a trading challenge, there is the CNBC Trading Matters Challenge where you can trade an imaginary $100,000 online over 10 weeks.. it started on the 12th of november 2007.
    1. Gav
      Jeff: Thanks for the invitation. I prefer to trade my own money in live trading though. :-)
  7. Tom
    Hey, where did you get that progress bar? is it a wordpress plugin?
    1. Gav
      Tom, Nah, it is not a plugin. just some CSS and html code. I will drop you an email on this.
  8. Tom
    Hey, where did you get that progress bar? is it a wordpress plugin?
    1. Gav
      Tom, Nah, it is not a plugin. just some CSS and html code. I will drop you an email on this.

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