Like you, I have been dreaming of the million dollar portfolio. Of course the latter part of 2008 had a huge negative influence on that. So I actually decided to go technical. Meaning I am now trading stocks on my own, no broker, no waiting for success or failure.
If I'm going to fail, let's fail fast, learn the lesson and move on. No more dragging my portfolio through the mud for months and months at a time. So here's what I am looking at now:
- 10 years to achieve a million dollar portfolio
- start with $25,000.00
- 6% average net return per month, doing it myself
- remember, fail fast if need be and just move on
Sounds ambitious I know. Truth is that 6% per month will actually turn your initial $25,000.00 portfolio into a million dollar portfolio in less than 6 years. In fact it would be over $50 million in 12 years.
As nice as that sounds, how in the wide world of sports is it doable. In my own opinion it needs your close attention at all times. So I have started using a technical approach. No more noise, TV shows screaming information at me all day. Just a new quiet technical investing approach.
I am looking for Double Bottom chart patterns. A stock that has made a new low, and come back to test that low again. That low is resistance and when it bounces off and goes up, it may now start a bullish breakout pattern.
I also use the Full Stochastics as my main indication of a bullish trend. So I watch just one pattern, the Double Bottom and use one main indicator as my main monitor. You know what, it's just not rocket science. This pattern can easily generate my 6% per month target, as I only invest when Double Bottom stocks reach my buy alert level. The key is always lots of volume.
The decision we all have to consider now is will I be in the market and ready.Why? Because with such a downturn in the markets of late, the upward spike that is coming and make no mistake it will come, will be dramatic and swift. Those that are positioned and ready, will grow their portfolio's the fastest.
Aside from trading technically myself, I also use some automation systems that have proven to be very successful. More specifically the Trading Pro System. The Trading Pro System is run by David Vallieres and Eric Holmlund. They are both just retail investors like you and I. Except that their trading model takes all the risk out of trading stocks, and that let's me sleep like a baby and dream about the million dollar portfolio.
If the technical perspective I described earlier seems overwhelming and doesn't appeal to you, you might want to look at David and Eric's Trading Pro System. At least take a look at the video on their site, it's only 7 minutes long. Just a pair of average guys, with some not so average results!
>>>>> Trading Pro System <<<<<
