You should consider the wear and tear on yourself and the tractor and the time involved for a project such as this. Just like everyone else said, it can be done. At my age and knowing what diesel fuel cost and limited time, I think I would consider a track-hoe and sell or trade the dirt for labor. Years ago, I had a guy that was going to dig a pond for me about 200 x 200 about 8 ft deep for the dirt, mostly sand. They sell sand around here for about $90 for 18 yds. He retired and never did get around to my project.
After working out the figures, there are 658, 18 yd truck loads in that pond. and that amounts to $59,259.00. Only limitation I had was I had to stay 50 ft away from the creek flood line. I have seen that creek go from about 8 ft wide to almost 400 ft wide with 7 days rain through the area.