How much money must I start with to achieve $1M after a year of increasing by 1% a day?

It is my intention to do exactly this, but my maths is rubbish and I have no idea how to calculate my initial investment or create a table from which to work?

My excuse for not concentrating in maths classes was the existence of calculators. Yet here I stand unable to figure this one out even with a calculator. Thankfully I have Steemit to help me now so I am still able to justify my lack of attention at that time 😉

Creating a table 🚀

Assuming the initial investment is $100, with a 1% daily increase the table would look like this:

Day 1 - $100
Day 2 - $101
Day 3 - $102.1
Day 4 - £103.12
Day 5 - $104.15

...continued to day 365

Something tells me the initial investment will need to be much bigger than $100 to hit $1M in a year... but I won't know for sure till someone tells me here!

An exercise in patience

I have struggled with trading in my first year because I am always looking to make the most out of every given situation and having experienced a profit I find it hard to call it a day... always believing I can increase my profit if I just keep on trading. FYI this rarely turns out to be the case! Like all new traders it is hard to resist the FOMO (fear of missing out) and simply be content with a small daily increase.

If I stick to the simple and achievable target of just 1% a day, I am much more likely to achieve my goal of $1M in a year and it will serve as a great exercise in practicing mindful focused trading.

How will I do this?

My office doesn't look like the above picture but I am confident that even with my one screen I will find a coin each day through which I will be able to increase what I have by 1%... leaving it in a stable coin when I am not trading.

If I miss a day I must make up the difference the following day. And if I lose money one day I must make it up the next. The most important thing will be sticking to the schedule created by the table.

BTC test run

I have been practicing without money using a BTC trade simulator to see if it is possible to increase by 1% a day. They give you $10,000 to play with using this simulator and buying in at the bottom of the red candle groups I have been able to achieve my 1% time and time again, even when the price is on its way down.

When the job is done

When the goal is achieved I will buy $100,000 worth of Steem and power it up so that I may enjoy the privilege of being able to help others here on Steemit with a healthy upvote.

Many thanks in advance to those of you who take the time to work this one out for me. I will upvote all attempts at answering my questions as generously as I can and when my goal is achieved I will not forget the person who helped me create the table I worked from.

Who is @samstonehill?

He was a London based filmmaker until he sold everything and set out on a barefoot journey around the world, currently based in the south of France.

He is travelling the world with his partner & two children and with no bank account he has been living on STEEM & crypto for over nine months.

All content created for this account is 100% original (unless otherwise stated), produced by @samstonehill who invites you to use & share freely as you wish.

@samstonehill is the creator of:

@steemshop account where you can buy or sell anything you like using your steemit wallet SEE MORE

@steemmasters which provides FREE TUTORIALS, personal training & resteeming services. Website HERE
Contact me directly on steemit.chat if you want to know more about this

@steemholidays which encourages resort owners to offer holiday packages in Steem or SBD

@steemtv which aims to provide the best in decentralised films, exclusive to Steemit & DTube

The dailyquotes tag initiative designed to encourage steemians to share their most life changing quotes with the community on a daily basis.

The Aspiring Steemit Whales & Dolphins group on Facebook which seeks to help newcomers make the transition from Facebook to Steemit, providing them with detailed notes and personal assistance with their posts... resteeming them when he can.

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@teamsteem @timcliff @jesta @good-karma @someguy123 @blocktrades @pfunk @klye @krnel @blueorgy @ausbitbank @thecryptodrive @ura-soul @pharesim

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Learn what this means HERE and place your vote HERE

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