the introduction

This will be a journal detailing my journey to making a million dollars within 2 years.

They say a million mile journey starts with a single step. I guess the first step I took in this journey is believing I can actually make a million dollars.

Here's what I need to make this idea work:

1. Actionable Investment plan
2. Capital
3. skills

I don't intend to share every detail of my plan. But I plan to share my growth and advancement towards my goal. and while doing this, share insights, experience and finally, practical knowledge

The ultimate goal of this journal is to attract a network of like minded investors that will make up an investment society.

To save your reading time I will summarize alot of details in the course of this journey and I will find a way to communicate better with people who require deeper insights to what I do and how I do it. (a whatsapp or telegram group will be opened to this effect).
I also plan to get feedback on ideas through that group.

The thread was opened with positive intentions. I will not tolerate childish comments.

If you have questions about anything... ASK ME. Don't start an argument or be insulting.

I will give answers to the best of my abilities in two ways. The brief answers will be on this thread.. The detailed answer requiring alot of explanations and sharing of files or links etc will be sent on the private group. Or by email

I am choosing this method to avoid distractions on the thread.

I will book dedicated  spaces below for sharing the results and a glossary of my important posts (if there any)


End of first post

NB:
(my posts are spontaneous meaning i do not plan before making posts. i use this means to fight my habit of overthinking which leads to procrastination. any future modifications will be in red fonts)

UPDATE i tried to create a tabular summary of the trading results for the next 6 months. this website's formatting has refused that from happening. i will uploading excel files to a cloud account in the future.

Trading Results Updated at months end. for real time results click the link below

Verified Real time statement Link: http://www.myfxbook.com/members/rubionfunds/dowjones/3397790

Growth Summary


1. July
2. August
3. September
4. October
5. November
6. December


Notes:

Booked: Announcements and updates

July 10, 10:24am: added the myfxbook statement. starting capital is $2900. if you see it as $10,000, know i added more funds after this post. i will talk about myfxbook as an effective tool for investing and research.

Booked: Table of content (Chronological order of important posts)

following. I advice that you made use of telegram because of its cloud storage feature.

femora007:
following. I advice that you made use of telegram because of its cloud storage feature.

i will consider Telegram. thanks alot

I was hoping it will be an interesting thread, but... Dashed.

Following

dowjones:

NB:
(my posts are spontaneous meaning i do not plan before making posts. i use this means to fight my habit of overthinking which leads to procrastination. any future modifications will be in red fonts)

This reason in bold is why this thread would never see the light of the day.

Chimaokigwe:


This reason in bold is why this thread would never see the light of the day.

Lol. i will defeat this demon.

and it starts now

In this post i will expatiate on how intend to execute my plan.

as per the first post, i listed things required to achieve this million dollar goal. they are;

1. Actionable Investment plan
2. Capital
3. skills

The Investment Plan
I plan to invest $10,000 in the Foreign exchange markets and re-invest any profits i make over the span of 2 years. the process of re-investing profits is called compounding.

Albert einstein once described compound interest as “the eighth wonder of the world”. “He who understands it, earns it; he who doesn’t, pays it,” he said.

The beauty of compound interest is that it allows you to earn interest on your interest – so that while you have to sweat to earn the money you initially invest, from then on your money works on your behalf.

so in conversational terms, it is profits generated, from previously reinvested profits

My simple plan is to approach the FX market with an institutional mindset. invest in the FX market like i would do in the real estate market or any other traditional investment vehicle. Invest a sizeable capital and reinvest the profits over period to a point where i live only from passive income generated by profits from my initial investment.

Note: this is obviously a summary of the investment plan. i stripped out details like, Risk approach, trading strategy, application of leverage, compounding frequency etc... those will come later (on nairaland or private group)


CAPITAL
I will be investing $10,000 for this project. I planned to get a new car with the funds but plans changed. so far, my plan of investing that amount this month has been delayed but i have launched the account with $2,900. the balance of $7,100 will added with the next few weeks.

my capital comes from windfall from debtors and money stuck in my paypal account after it was closed. so its technically, idle money i planned to use on a new car and photography equipment.


SKILLS
i plan to employ other skills to achieve this goal by bringing other traders to the table as the account grows in size. obviously, there will more money invested but in separate accounts.

the idea is to employ different schools of thought and investment styles. e.g swing trading, algorithmic, scalping, etc... as a risk management strategy.

diversifying in talent and third party strategy is the expansion strategy for this investment goal. i will update regularly on new trading talent added to the arsenal.



CC: chimaokigwe, tabithababy, Hedonini, Femora007, dhrey112

Since july 2, this is 8, procrastination indeed

dowjones:
I am sorry for the delays in posting. I honestly dont have a concrete reason for doing that.

In this post i will cover my plan on how intend to execute it.

Since you started this thread how much has entered your bank account?

How do I join you bro... This is good DowJones.

dhrey112:
Since july 2, this is 8, procrastination indeed

more proof to show you this is a fun project. posts like yours weirdly are my motivation.

I planned to start with $10,000 this month. Paypal and the other debtor have delayed payment and that killed my morale of publishing, but i ha have dropped the link and the ball has been set rolling...

Note: this is not meant to be an everyday thread. i will update the progress of the account on a monthly basis. the rest of the content will be sharing insights with people who ask questions.

Nairaland has changed. the audience here have a preference for very summarized, shallow content...and i dont want to waste my time typing lengthy content that might be misinterpreted etc. hence the group that will be created in the future. but i am in no rush for that.

Kirchhoff01:
How do I join you bro... This is good DowJones.

i will let you know later. the ultimate goal is to gather investors like you to form a powerful force but i will lead by example by committing my funds, time and skills..

thats the best way to explain the vision.

dowjones:


Exactly $180 last time i checked.

i just made the account statement public. i will post the the link on this reply. if the bots dont delete this post. i will go on to add it to the second post, i reserved for the account statement.

it is real time. and verified.

http://www.myfxbook.com/members/rubionfunds/dowjones/3397790

No account statement

BlacSmit:


No account statement

i already warned ahead that i will not tolerate people like you.

i attached a link that shows the account progress in real time and you come back to say this. i dont know your real intention. but i will advice that you relax and dont do more than yourself. i don't owe you anything.

Have you created the telegram Chanel??, I want to join. Basically cus you mentioned Forex and I want to know more about it

youngaliwa:
Have you created the telegram Chanel??, I want to join. Basically cus you mentioned Forex and I want to know more about it

There will be a group but the primary purpose is to make money not educate members.

Education will be secondary. But nonetheless available.

After my first thread on FX.. I got alot of calls requesting for education and I declined all.

If I could start all over again.. I will avoid alot of aspects of FX education.. And save my time

I have noted you and will get back to you on education and first steps. But I will like to give a more detailed reply on this.

Following this thread.

Sitting here patiently... Following bro,, I'm already working on something like this but with a smaller account, of 6 dollars, i increased it to 11 dollars today... I make 12 percent profit every day with ease I'm still learning thou

Donsheddy:
Sitting here patiently... Following bro,, I'm already working on something like this but with a smaller account, of 6 dollars, i increased it to 11 dollars today... I make 12 percent profit every day with ease I'm still learning thou

Quite impressive. Makes me happy to see people making money in FX especially with a long term outlook.

12% daily is a quite aggressive and over speeding in trading kills but for your account size anything goes.. There's little to lose.

If your account is on myfxbook, I can follow your progress.

dowjones:


Quite impressive. Makes me happy to see people making money in FX especially with a long term outlook.

12% daily is a quite aggressive and over speeding in trading kills but for your account size anything goes.. There's little to lose.

If your account is on myfxbook, I can follow your progress.

no it's not... How can I put it there

Donsheddy:
no it's not... How can I put it there

https://www.youtube.com/watch?v=oP-0qtbpFz4

that would help

Oga, I would suggest you go and find a job.

dowjones:



https://www.youtube.com/watch?v=oP-0qtbpFz4

that would help

thanks

Guy calm down....

BlacSmit:
Oga, I would suggest you go and find a job.