i have funded 500$ , what amount should i aim for everyday?

i have funded 500$ to my account, now my goal is to convert this 500$ into 15,000$ in max 16 months . can anyone guide me on how much to make per day and with low risk!?

no one?

Saif,

Your only goal at the moment should be that you don't blow the account.... for the time being forget about burden of 15k in 16 months....

SG

The fact you have to ask tells me you need to make sure you have a sound and winning methodology in place along with proper money management skills, and then we haven't even touched the mental part of trading.

SG nailed it. Get even the slightest of gains for now and consider it a success. You'll be way to much pressure on yourself if you try and make goals for your gains. You'll fall into a trap of over trading in order to make up for what will be some slow times coming up.

YES i know what you people are saying are correct but what amount of pips or $ should i look for everyday !? i decided to put on only 1 trade a day and that on the basis of fundamental analysis andkeep my everyday TP or SL - 20-30$. what do you say?

Trading is not about making goals for gains over x periods of time. I used to be in sales. I used to make goals all the time-- 20 sales in one day, 100 in a week, beat so and so in a one-on-one duel, etc. That was fun. If I the goals were missed, I still came out on top, because I made money.
This is trading on the financial markets. You are messing with a mental monster and what will lead to a $500 ruin.

Let me draw up a scenario that I promise you you'll confront. Let's say you need 30 pips to hit a goal. Your trade is 26 pips ahead, then it reverses and you take a loss.
The other scenario is you might 30 pips to hit your goal, take it out at 30, and then it runs to 75. You lost out!

I'll repeat. Take what the market gives you, and do not be concerned with quantity of pips, dollar gains, % of gains, etc.

I have records of % of gains over the last year, month, and week. I don't discuss them. They benefit no one, except my bottom line. We are also all different. When you say $500 to $15,000 in 16 months, I'll tell you it is possible. That's only 27.3% compounded monthly.It still did you no good.

Learn to roll off your back, then get up on your fours, then crawl, then walk, then you can put on your running shoes. I'm being nice in saying that. It is a step by step process. Literally, I ran the 5-yard dash in 5.2 seconds at 52 years old (Honest, no play on numbers.). I did not do that when I was 6 months old, As an analogy, you are, as a trader, 6 months old or less.

Just take it a step at a time. You won't be sorry.

Saif,

Looks like you are bent on Trading with 500 Bucks..... Any amount of wisdom from Paul or myself is not going to make a difference to what you have set out to do....

Do us a favour..... once you have started trading... come back in 15 days.... forget 15 days come back in a month and pray tell us what happened.....

In the meantime I shall keep my fingers crossed, can't tell Paul to also cross his fingers.... since he is going away on vacation and might hamper his driving...

SG

Try to make 2 % and above on average on your account every day.On a bad day you may be 1.5 to 2 % down, on average day 2-3 % up and on good days 4-5 % or more up....

But the above is the target....it is not easy to hit that. The first target is remain afloat....then comes the profit targets.....

Smart_trade

LOL, It's the only vacation of the year I'm totally disconnected to modern technology, yet, it is the only one I don't leave the county. LOL, it's only a 20-minute drive. I can keep my toes crossed during that time. Hey, if it helps, I'll have my wife drive, and then I can keep my fingers crossed the whole time.


QUOTE=SavantGarde;575441]Saif,

Looks like you are bent on Trading with 500 Bucks..... Any amount of wisdom from Paul or myself is not going to make a difference to what you have set out to do....

Do us a favour..... once you have started trading... come back in 15 days.... forget 15 days come back in a month and pray tell us what happened.....

In the meantime I shall keep my fingers crossed, can't tell Paul to also cross his fingers.... since he is going away on vacation and might hamper his driving...

SG[/QUOTE]

very well said thank you so much