As of June 10th's closing, my Investment Account in Ameritrade iZone has finally reach $25,000, or the day trader's minimum requirement. I wanted to hit this number for some time. Of the total, $22,000 are from deposits over a course of several months. The rest are from capital gains.
This Investment Account is my "play" account where I can take risk and potentially make more money. I want make up a one year investment goal for myself right now. It'll be something I can actively work towards. I'll post my transactions and track my performance on this site.
Okay, here it is. My one year goal, by June 1, 2006, is to have $20,000 in gains starting from today. That would be $45,000 if things remain constant, but I may add more funds. The gains formula is: Total Balance - 25K Starting Balance - Additional Deposits. The road map should look something like this:
5K gains by 9/1/2005
10K gains by 12/1/2005
15K gains by 3/1/2006
20K gains by 6/1/2006
However, market fluctuations will make these checkpoints difficult to meet, so I will use these numbers as guidelines.
I know this goal comes with risk but I'm confident of achieving this goal. It is going to be a do or die situation. Either I'll meet the goal and become more popular or I'll failed miserably and have everyone write "Loser" on my site. (At that time I'll change my blog to Dying Money. Just kidding.)
I do not recommend anyone to go and risk all their money. The money in my "play" account is something I can afford to lose. I have a full time job, a stable financial situation, and I am in a prime time for taking financial risk. So, in the worst case, I'll just start rebuilding my savings from scratch and the loss will unlikely affect my current lifestyle. However, if I succeed, I will have a big accomplishment. This accomplishment will help me plan out the road map for my career and more.