I try to afford the down-payment on a condo while paying rent in another condo WITHOUT any of my salary
The Idea:
I set a new years resolution in 2020 to take the $2,900 USD I had saved in my margin account on Questrade and try to turn that into $50k USD.
I live in Toronto, Canada, so that’s enough to get me into a condo of my very own (10% down payment) in the downtown core.
I’ll be posting my progress here as each trading week passes and who knows! Maybe I can afford a real domain name at the end!
The Specs
Here’s what we’ll do:
To make this happen we need to hit the following target 2,900*(1+03)^90
In other words: make 90 trades this year, all of which return 3%.
First trade target = $93
Last trade target = $1,500
90 trades means I only need to make 1.8 per week on average and so have some leeway to hold and develop select positions or be inactive on certain days
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