Forex Master Challenge — Introduction
This is the challenge that I have started on 9 July 2020. Here are the details of the challenge.
Details of the challenge
The main idea is to explore whether a large portfolio can be built with a meager investment? Is it possible to build a business with a small capital of Rs 5000? This is what this challenge is all about. I have started with a initial investment of Rs 5000. This challenge will run for a period of 10 years and will consist of series of goals. After every goal the next goal would be analysed. The need to keep the challenge running would also be analyzed after every goals completion. In case in between any of the goal fails more than 60% or the capital gets eroded then this challenge will stop. This challenge will also analyze the overall return the USDINR will give in the 10 year period.
Rules of the Challenge
- Begin with min investment of Rs 5000.
- Select Low Brokerage
- Sell deep OTM contracts in USDINR.
- Sell Monthly options
- Review the positions after every week.
- Don’t trade in Futures.
- Stick to only one pair.
Goal 1 : Double the initial investment of Rs 5000→Rs 10000.
Details : In goal 1, I will try to double the initial investment of Rs 5000 to 10000. Here since I am running the challenge for 10 years so first goal does not have any time line for completion. Once this goal is completed decision on setting up Goal 2 will be taken. If this goal fails in between due to adverse market conditions then the complete challenge will fail.
For the brokerage, I have selected Finvasia as they do not charge any brokerage this will help in maximizing the profits and minimizing the loss. I will be updating my positions at the end of every week.
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — —
Goal 1
Start date: 9 July 2020
Initial capital : Rs 5000
Target — Rs 10000
Current Profit/Premium collected is Rs 339.68 at the end of month 1.
Current Balance Rs. 5494.5 (including Aug Trade Premiums)
Month 1 (july 2020) trades
Next update at the end of Aug.
Disclosure : The article contains affiliate links from canva. I may earn small commission when you click on the links at no additional cost to you. As an canva affiliate I earn only from qualifying purchases.
