1K TO 1M CHALLENGE

Sep 19, 2018 at 17:57
4,939 Views
43 Replies
Member Since Apr 06, 2016   60 posts
Nov 05, 2018 at 11:43
Euge9999 posted:
Anybody knows what happened to Gcharts and his 1K TO 1M CHALLENGE account?


I think it's been more like '1K to Zero Challenge' and they been doing great in that as it appears...
get after it
Member Since Nov 18, 2017   1 posts
Dec 07, 2018 at 10:15
😄
Member Since Nov 15, 2018   11 posts
Dec 09, 2018 at 07:19
I've done 1k to zero a few times. I think I could go pro at that. I am making some profit now but 1k to 1M would take years with proper risk management
Member Since Dec 07, 2018   2 posts
Dec 10, 2018 at 07:35
xperts posted:
Seems like another restart, this is the third time i believe!!!
I've seen a lot of these! It's not so much of a restart but a belly up :)
Don't stand in my way, you wont survive.
Member Since Dec 07, 2018   2 posts
Dec 11, 2018 at 07:32
It's a challenge.. you get to 2000.... and it's like starting over every day.. the odds of 500,000 are stacked against retail traders.
Don't stand in my way, you wont survive.
mk03
forex_trader_379590
Member Since Nov 27, 2016   2 posts
Jan 06, 2019 at 08:57
I am planning to do the same thing. Hope I dont go belly up soon. 😭


Member Since Jan 05, 2016   1189 posts
Jan 06, 2019 at 23:33 (edited Jan 06, 2019 at 23:45)
I'm not going to say this is an impossible task, because there is of course a possibility that it could happen.

For example: $1,000.00 US compounded at a 1.95% per daily trading, over a period of 360 trading days would yield $1,045,689.73, or if you were able to continue doing it for a period of 720 trading days, you would generate more than a billion dollars.




To actually accomplish this task though, is extremely difficult.

Also... Good luck getting your brokerage to authorize a full billion dollar withdrawal from your account.








Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Feb 22, 2011   4862 posts
Jan 07, 2019 at 09:06 (edited Jan 07, 2019 at 09:06)
Professional4X posted:
I'm not going to say this is an impossible task, because there is of course a possibility that it could happen.

For example: $1,000.00 US compounded at a 1.95% per daily trading, over a period of 360 trading days would yield $1,045,689.73, or if you were able to continue doing it for a period of 720 trading days, you would generate more than a billion dollars.




To actually accomplish this task though, is extremely difficult.

Also... Good luck getting your brokerage to authorize a full billion dollar withdrawal from your account.








So if we change it to realistics and safe 1.95% a month
Then you will need 360 months
Which is 30 years
So it will be great investment for your retirement, isn't it?
Member Since Jan 05, 2016   1189 posts
Jan 07, 2019 at 10:01
togr posted:
Professional4X posted:
I'm not going to say this is an impossible task, because there is of course a possibility that it could happen.

For example: $1,000.00 US compounded at a 1.95% per daily trading, over a period of 360 trading days would yield $1,045,689.73, or if you were able to continue doing it for a period of 720 trading days, you would generate more than a billion dollars.



To actually accomplish this task though, is extremely difficult.

Also... Good luck getting your brokerage to authorize a full billion dollar withdrawal from your account.


So if we change it to realistics and safe 1.95% a month
Then you will need 360 months
Which is 30 years
So it will be great investment for your retirement, isn't it?


Yes Exactly!

A small account can grow to a very comfortable retirement account if properly managed.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Feb 22, 2011   4862 posts
Jan 07, 2019 at 10:44
Professional4X posted:
togr posted:
Professional4X posted:
I'm not going to say this is an impossible task, because there is of course a possibility that it could happen.

For example: $1,000.00 US compounded at a 1.95% per daily trading, over a period of 360 trading days would yield $1,045,689.73, or if you were able to continue doing it for a period of 720 trading days, you would generate more than a billion dollars.



To actually accomplish this task though, is extremely difficult.

Also... Good luck getting your brokerage to authorize a full billion dollar withdrawal from your account.


So if we change it to realistics and safe 1.95% a month
Then you will need 360 months
Which is 30 years
So it will be great investment for your retirement, isn't it?


Yes Exactly!

A small account can grow to a very comfortable retirement account if properly managed.











It is perhaps not so difficult to make 2% monthly
But to keep it consistent for years and do not withdraw anything
for years...
Member Since Aug 04, 2017   2 posts
Jan 08, 2019 at 07:46
mk03 posted:
I am planning to do the same thing. Hope I dont go belly up soon. 😭



I will follow you IF you use a live acc.




Member Since Jan 05, 2016   1189 posts
Jan 08, 2019 at 08:38
togr posted:
It is perhaps not so difficult to make 2% monthly
But to keep it consistent for years and do not withdraw anything
for years...

Very true, few people would have that kind of discipline to never withdraw from the account.

Perhaps if the investor created multiple accounts, and designated one of them as the retirement account it might be easier.




If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Feb 22, 2011   4862 posts
Jan 08, 2019 at 09:22
Professional4X posted:
togr posted:
It is perhaps not so difficult to make 2% monthly
But to keep it consistent for years and do not withdraw anything
for years...

Very true, few people would have that kind of discipline to never withdraw from the account.

Perhaps if the investor created multiple accounts, and designated one of them as the retirement account it might be easier.





Yeah name it.
Like assign that account to newly born son or daughter to help you trade it responsibly without withdrawals.
Poor US guys whose need to pay for university should do that for their children :)
Member Since Dec 04, 2018   10 posts
Jan 08, 2019 at 11:28
2% a month sounds so easy on paper but the reality of trading is so difficult that hardly anyone would be able to achieve that figure.
Member Since Feb 22, 2011   4862 posts
Jan 08, 2019 at 14:01
Amancio posted:
2% a month sounds so easy on paper but the reality of trading is so difficult that hardly anyone would be able to achieve that figure.

I have safe system that makes 2% month without risk
But I do not use it as formula of my balance and my expenses push me to more profitable systems
Member Since Oct 28, 2015   51 posts
Aug 01, 2020 at 19:38
😀
xperts posted:
Euge9999 posted:
Anybody knows what happened to Gcharts and his 1K TO 1M CHALLENGE account?


I think it's been more like '1K to Zero Challenge' and they been doing great in that as it appears...
lol i have done 1k to zero so many times.😀
Prayer is the True Power that controls the World.
Member Since Dec 16, 2019   1 posts
Aug 01, 2020 at 20:03
using an FTMO account, (100k acct.) which requires 10% monthly gain, could lead to this goal in just 100 months. (8 years). 10% monthly is very very doable. your daily loss limit, even in floating trades, can never exceed 5%. it is a safe way to trade at least for my strategy.
forex_trader_1151190
Member Since Feb 28, 2020   17 posts
Aug 13, 2020 at 04:21
Member Since Aug 23, 2020   18 posts
Aug 23, 2020 at 07:05
@Amancio is very possible, our new project will allow to make 20% month with a very low risk.
Member Since Jul 20, 2019   373 posts
Sep 03, 2020 at 11:10
The most realistic is something between 2% and 10% per month. Everyone should know this who is more than 2 years in the trading scene. All the others are just dreamers which might have some luck with their poor money management. There's hardly anyone who's doing this for more than 5 or 10 years. 20% per month is possible, but not for more than 1 year. If anyone is telling you something like '20-100%/month over more than 2 years' is a cheater/faker/scam. That's it.
100% per year with a max drawdown of around 20% is a good goal though. But a goal is a goal and real results are real results. These are two different things. Forex is never a thing with which you can make a real plan on very long terms. Most people are just gambling, like you can see with the original poster of this thread here, making '1k to 0' three (or even more) times per year. lol
patience is the key
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.