Second to Last Double
For 3 weeks now, my trades have been stuck in the second to last double. For those who are new to following my attempt to turn $3,000 into $100,000, I look at the challenge in terms of doubles. In order to turn 3K into 100K it requires I double my capital approximately 5 times.
3K – 6K -12K -24K – 48K – 96K = 5 doubles
So far, I’ve doubled the account 3.5 times in 4 months. Recently as the market has basically lost its volatility, I have not been able to conquer the 2nd to last double. My account value has fluxed between 34K and 42K and my large loss with FCX has taken some steam out of my momentum. I plan to hold my trades til at least this afternoon. As I have done before, I may cash out and take a couple days until I reenter. Generally a small break is enough to gain momentum back.