A goal i have and how i will achieve it

When I was looking through the forums, everyone’s goal seemed pretty much the same, become a full time trader and make millions, I understand that. Like everyone, when I started trading I was dreaming of riches, of making millions and billions of dollars. It wasn’t until I began trading seriously that I realized I needed to set firm, realistic goals, and create a plan to achieve it. In the United States, it is estimated in order to retire early, and not worry about unexpected expenses you need to have 5 million USD in a retirement account. When I learned that, I knew that was my goal, to build up $5 million in a retirement account so I could stop working and just enjoy life. I know for a fact if I worked a regular job making decent-good money I would make around 50k a year, and wouldn’t be able to retire until I was around 70, luckily I am a day trader so I may be able to achieve that much faster. I created a plan I would put all my extra money into my account, and taking absolutely nothing out (One account for personal use, one account for retirement, and use copy trading to have both taking the same trades.) I understood that to think I could become a millionaire in just 1-3 years is a dream, but I knew with solid trading I could easily achieve this in the future, so I created a 10 year plan. Based on my current monthly and yearly returns, through compounded growth,  I should be able to hit my goal in 10 years. I created a risk management plan, risking small amounts on my account with strong risk management to foster slow, but steady growth beating out the returns of most 401k’s by a significant margin in order to achieve retirement at a much earlier age, that is how I plan to meet my goal. I hope this gives you an idea of my personal goal, along with the kind of thing I will do to achieve it, and I hope this gives you the idea of setting a realistic goal you can definitely achieve, and making a plan to succeed, and of course, once you reach your goal, you can always make another one! If any of you have anything to add, please feel free to let me and others know in the comments below.

Elijah Newell

Elijah Newell

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