You know what girl ? - The more I think about this - the more I think "Why the hell not ? "
Summer is just starting and I missed it last year - so I’m not going to miss it this year - but if you’d like to rattle my cage again - about Late September / early October - “Why the hell not ?” 
[Edit - only it’ll be £ not $ - hope you don’t mind ? 
]
Either way that’s 60x so I’ll take it 
In order to multiply anything you need to have some knowledge > practice.
You can get this for free - read something, watch and think about what is going on on charts and demo trade.
After trading on demo, you can set your expectations. I would be VERY cautious, if anyone claimed he can consistently make more than 25% per year. 5%-15% per year is a reasonable target to aim for as a newbie. Unfortunately forex forums are full of storytellers - it’s good to question and challenge (looking at the 5% per day guy)
With 200$-300$ you would like to find a broker which allows you trade with units not not 0.1 or 0.01 lot, as this will allow you to manage risk accordingly.
Yes. You may simply double it if you have a decent plan and strategy.
Until now 44 responses… And all kind of… I think you will be at the end with more doubts… Its the odds are against sayingcthat you will lose $… l was in your position and grew the account litlle by little with inteligent risk management, if you need some motivitation here is one… Believe there are many methods or strategies to grow up the account… Not to gain plenty of dollars is with patience and follow andcstrtegy by the rules within RISK MAMAGEMENT is the matter!!
If you know how to trade , you can start as little as possible and will make it. If not, is better to practice. I can help for free if you want me to.
The answer to whether it is worth the time, effort, risk and capital required depends purely on the strategy’s statistics. It is worth all of these things if you have a consistently profitable strategy. You should know this from demo trading and your own backtesting and research, and perhaps by trading a tiny test account with real money.
Your strategy’s profitability depends on
no. of trades
win rate
percent of account capital risked per trade
percent of account capital realised per winning trade
Let’s suppose you can only run one trade per day, your win rate is only 55%, you risk only 1% per trade and your r:r realised is only 1:1.5. Let’s also agree these are not demanding statistics.
If you start the year with $200 and consistently run this strategy, you will make a 7% profit in a month. Has anyone worked out where you would be in 10 years?
Just a point of interest, and no offence, but with $2,500 average per annum you won’t pull in an average of $200 - $300 a month - that’s a c.10% profit, and an APR of 120%. Which is fantasy land stats. Maybe you could get lucky trading cryptos short term, but FX is a different animal.
FX Pro traders would bite your hand off if you managed a 2.5% monthly return, and an APR of 30%, willing to pay you to trade for them.
Nevertheless, congratulations on your financial goals - definately the correct approach that all newbies should follow. Keep it running…
Learn to set up a Trading Plan then develop a Trading system you feel comfortable with.
Use a Demo system for at least 6 months to test your strategies before using a real account
I think it depends on the time frame you’re planning on turning that sjm over, time availability to learn and will to learn it. You could look at the average gains of the S&P500 and through that APY into a compound interest calculator and decide if you think you can beat that over time. If you think you can and are determined to learn how to, then crack on. If not, sit back and do it passively.
I lost a lot of money by copy trading
Yes I think it is possible to trade but with the leverage of 1000 or up and that’s is way to high, better to not touch those hot bars.
Nicely summarised! And therein, I’m sure, also lies the problem with such a small account. Assuming there are 20 trading days per month and only one trade per day then, yes, the monthly result is about 7% (ignoring spreads, commissions, slippage and any other sundries). In actual money terms, this amounts to 15 dollars per month (11*$3 wins less 9*$2 losses).
In order to earn that the trader has to analyse the markets every single trading day of the year, in the same robotic way and with the same degree of consistency - and avoiding all the normal, natural, pyschological challenges of revenge, greed, frustration, distractions, etc.
I do not believe anyone is going to do that for very long for $15 per month. But, this is ignoring what you say here:
Here we are adding the possibly dramatic impact of compounding into the hypothetical mathematics of this progress. Although compounding winnings into the equation will see a slow growth at first, it will at some stage start to take off in a steep parabolic climb resulting in an impressive figure after 10 years!
But, again, the human element enters the scenario. Who is going to apply the same method every single trading day, with the same degree of success, for 10 years?
So I think the bottom line remains the same. It is not possible to achieve a decent account growth in a short time without taking abnormal risks - and taking those risks is why the account is not likely to survive.
But this is only talking about a trader personally trading their own account. But there are other alternatives. E.g. using copy trading, for example, as a means to piggy-back a professional trader may well justify higher risk taking and with greater prospects of success. I don’t know too much about that topic!
Yes $15 a month is not much money, so insignificant its just not worth withdrawing. So leave it in the account - but here’s the point. The only wage of $15 a month is in Month 1. In Month 13, one year later, the trader’s monthly wage would be $32. So, for no additional work, no interview or selection process, no additional workplace hours or responsibility or qualifications, the trader has achieved a pay rise every month leading to a monthly wage increase of over 100%.
What employed work offers prospects like that?
Traders have the wrong idea about trading. Trading is not a road to wealth. It is a road to better pay.
I don’t think it should take a lot of hours to find 20 trades a month which have 55% probabilities of success. Its a pretty unambitious obstacle.
But, yes, definitely, the human element is what stops traders making money. Not the broker, not the market, not the economy, not HFT, not the taxes - its just the human at the keyboard.
True you have said the Right one. Once you have developed and understood your Trading Plan $200 is worh it. Bse its important to put what you can afford to loose , with a Good strategy you see that amount growing. I am an example , i had a strategy i was working on and in Dec i got it. I opened a Live account with $200 USD Now it has grown to
. And am still trading on my strategy…once i reak $ 2000 and above i will withdraw my $200 initial Capital and i continue growing my Account. Iam a living example. My strategy is being adopted by many people and are testifying growth in ther accounts…which makes me happy and have unleashed another Version of the same Strategy…Yes You can turn $200 to $12500 with the Right Mindset, Good and undersood Trading Plan, Manging emotions well.
Exactly! That is the power of compounding - maybe I am being a bit “picky” here but you cannot call it “monthly wage” and retain it in the account to fund the increasing position size required to achieve the compounding gains. There is no wage and extraordinary account growth…
Yes indeed, this area seems to be the first cause of failures and yet the last issue that traders look at! Usually it is the strategy’s “fault” and leads people to jump from strategy to strategy and dumping each one as soon as it loses something, or adding more and more indicators and lines to try and plug the holes below the waterline…when the cause is not in the strategy at all, but in the trader.
I am sure, like me, you have seen many trading journals here from people aiming to build up from
a small starting position but they never seem to actually reach their goal before the thread dries up. I don’t know, maybe they go somewhere else, grow huge accounts and live happily ever after. But I suspect the outcome is actually something very different - which is really quite heart-wrenching when one sees the efforts being put in!
It would be far more convincing if there were loads of small account starters regularly returning here to BP to tell their stories and how they made it and advising others. I am sure that would both boost Newbies’ confidence and determination as well as providing some ingots of advice on how to avoid the pitfalls along the way.
As it stands, all we mainly see here is a constant flow of Newbies coming in the front door - and then similarly constantly disappearing out the back door. Which is hardly surprising when the failure rate is so incredibly high. Which really comes back to the same question being churned over and over here on this thread:
There are many people who can only start with small accounts. We have pretty much all agreed it is theoretically possible to trade such an account and even to grow it into something worthwhile - and yet the vast majority of them fail - why is the reality so opposite to the theory, even considering the human factors! 
When I started I used a demo account for 6 month.
Then I started for real and put in $200 and I was very happy when it had grown to $400. I then tock out the initial $200 and played with the rest, which I loosed. Good education!
I then inserted my initual $200. Took it out when I reached the $400 and managed to raise it to $1150. Got a new job which took all of my time so I stopped trading and closed the account $1150 richer 
I can not say that if I initially had started with $2.000, I would have had $11.500 when I stopped!
Are you able to give me numbers? Aka account size that you started with and what it’s at now?
Very interesting quote here.
Also combined with this:
