Ouch, can’t win them all!
The thing is, I saw it coming and managed to get out of the trade.
I should have given myself a pat on the back and rested up for the day.
Instead, I decided to re-enter.
Kicking myself now, of course, but onwards and upwards!
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So you really are human 
Good luck , following your challenge.
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Lol!
Thanks man!
Oof! A big dent but it’s ok you’ll bounce back! 
I think you’re working on a book on how to trade small account sizes with greater returns.
Just curious.
Sorry for the delay in replying, I’ve been real busy.
I am in the process of writing a book and hoping to have it up and on Amazon by the end of the year.
You grow a small account exactly the same way you grow a larger account. Find a good strategy, use sensible risk management and compound your returns.
However, growing a small account fast is a whole different proposition.
Having watched a number of YouTube videos about growing small accounts fast, it is clear that most people simply don’t understand how probability works or how to maximise their chances when trying to grow a small account fast.
In short, you need to minimise your exposure to risk as far as possible. Flipping $250 to $12,500 as quickly as possible, as I am attempting in this small account challenge, would be doomed to failure, say, if you were only increasing your risk to 10% of your account per trade because you would simply need to take too many trades to achieve your target. Go big or go home, as the Texans say.
The odds are against you growing a small account fast whichever approach you adopt but by risking a larger amount of your account using your highest probability set-ups, you actually minimise your risk in as far as possible by minimising the amount of trades you need to take.
I’ll be explaining this concept more fully in the book but first I need to show you guys it can actually be done.
Keep watching!
20th April 2023
12:00 London
I have been stuck in a trade for two days and in drawdown for pretty much the whole time.
Most of my trades are normally over and done with pretty quickly; the ones that drag on like this usually end up losing. I’m reasonably sure this one will but I am not tempted to close early. It’s about sticking to the plan and accepting losses along the way. If this trade doesn’t work out, it will be my second loss on the bounce but I’ll still have double my original account size left and, more importantly, I will have stuck to my plan.
Let’s see what happens . . .
20th April 2023
14:00 London
As anticipated, the trade lost. Two on the bounce has now wiped out over a third of my peak balance but I’m still left with around double what I started with.
That what happens when you are trying to grow a small account fast . . .
For 20 plus years I have been arguing against the "only bet 1%-2% of your account “Gurus” - since if you are only betting tiny - what is the point of having 95% of your account unused ? the more so when there is a possibility (small perhaps) that the “broker” could go bust taking your whole account with him !
So I have argued that your account should NOT contain more money than you need for reasonable trading risks - and certainly nowhere near your entire nett worth!
So your 30% of initial £250 would in monetary terms be exactly the same as 10% of an £830 account for teh first bet - either of which would be reasonable given that it is nowhere near your entire nett worth - ie you can readily afford to lose it (or to re-fund the account if neccessary) - The difference occurs and your strategy scores by having a bigger multiplier and a much higher geometric progression in cash terms. - Personally I’m looking at a similar situation but with a 20% stake and an expectaion that it could be possible to Double the account in 20 bets - pretty much ad-infinitum.
Now you are pretty much at a single double (+95%) within 3 weeks - so extrapolating that to 17 doubles in one year This is your account size after a year;
| 1 | 250 | |
| 2 | 500 | |
| 3 | 1000 | |
| 4 | 2000 | |
| 5 | 4000 | |
| 6 | 8000 | |
| 7 | 16000 | |
| 8 | 32000 | |
| 9 | 64000 | |
| 10 | 128000 | |
| 11 | 256000 | |
| 12 | 512000 | |
| 13 | 1024000 | |
| 14 | 2048000 | |
| 15 | 4096000 | |
| 16 | 8192000 | |
| 17 | 16384000 | |
ie £16,384,000
Not too bad at all ! 
If you can do that - are you sure you need to "write a book " ?
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I’m not sure risking such a high volume of your account is very wise unless you can guarantee your win rate. I wouldn’t consider having a large account balance and not ‘betting’ more than 1-2% of that balance each trade as the balance not being unused. The remainder of the balance is being used as part of your risk management strategy. If you bet 20%each trade you risk losing the earning power of your account in fewer trades, which would be counter productive. But I suppose it goes back to rule number one, don’t risk what you can’t afford to lose!
My idea is to:
50x the $250 account to $12,500 then withdraw $10,000.
Then 20x the remaining $2,500 to $50,000 then withdraw $40,000.
Then 100x the remaining $10,000 dollars to $1,000,000!
A couple of things to point out:
Firstly, it’s about never risking more than you can afford to lose. Make no mistake, trying to grow a small account like this is a pure gamble.
Secondly, as you point out, I’m only ever really risking $250. I see this as a $250 bet with the potential for several nice payouts along the way and a jackpot at the end.
Thirdly, this may take more than one attempt but, as you rightly point out, $250 is nowhere near my entire net worth. Let’s say that I think I can almost certainly achieve 50xing my account within ten attempts. Those attempts would cost $2,500 but the payoff would be $12,500!
Like I always say, talk’s cheap, money buys houses.
My challenge(s) will all be documented here, insta, twitter and myfxbook so you’ll see everything, wins and losses along the way!
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Sorry mate - your use of negatives is excessive - to the extent that the meaning is cloudy at best - eg;
That seems to contain 4 negatives and it would be helpful if you could explain without using them 
Then this ;
That in my opinion “Depends” - what stage of life you are at and what your “nett worth” actually is ;
eg ; if you are 20 years old and have £250 - then there is a case to be made for using all of it in a trading account - whereas if you are 70 years old and your nett worth is say £250,000 - then yes think carefully about how much you can “afford” to lose !
Like all of the so-called “Rules” there is no merit in just applying them blindly !
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Thanks for pointing out your underlying thought process here - and I can see some merit in periodic withdrawals.
I find your narrative interesting and whilst I opine some differences internally - I shall try to keep my opinions quiet - so as not to distort your strategy
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24th April 2023
10:50 London
As most of you know, I don’t particularly like trading on Mondays, especially in the mornings, but I took a small trade on GJ which was ticking all the right boxes. It initially went into drawdown before recovering and heading up into the profit zone.
Since I had only taken a small position size I moved my stop-loss to just above breakeven, happy to take a free ride to wherever GJ wanted to go. Unfortunately, what was at one point $50 of unrealised profit soon reversed and stopped me out with just $7 of profit.
Better than a loss I suppose considering I didn’t particularly want to be in the trade even though the set-up was there and I am currently bullish on GJ.
Anyways, hoping to find 3-5 good trades this week.
Let’s see what happens . . .
25th April 2023
08:50 London
Twice now I have been stung by AUDUSD.
The last two occasions that I have shorted it, I have lost significant amounts of the account.
That wouldn’t be so bad were it not for the fact that on each trade the price reversed in my favour literally a few pips after I exited and subsequently would have hit my take profit on both occasions!
It’s frustrating but I have a plan that I am sticking to no matter what . . .
25th April 2023
14:25 London
Boom!
Just banked $195!
Back up to $650, almost triple the account!
I’m hoping to finish the week with four figures . . .
26th April 2023
10:25 London
Another little win, another hundred bucks or so towards the cause and we’re back to having tripled the account.
So far, I’ve made several mistakes. More important than the monetary cost of those mistakes is the fact that it’s now going to take me more trades to complete this challenge than I had initially hoped.
I’m going to try and offset this by doubling down on my most successful pairs. As you will see on myfxbook my best trades so far have been on GJ and GU, so I’m pretty much going to stick with them unless I see a very compelling set-up on one of my other pairs.
My win rate on GJ, for example, has so far been 100%. When you are trying to grow a small account fast, as I am, you need as many wins as possible and not too many losses so it makes sense to stick with the pairs I’m doing best with.
Anyways, I’m feeling ever more confident . . .
I followed up your link on fxbook, and i must say i commend your efforts. You’ve had an awesome challenge there.
But with that there’s more to ask and say concerning your challenge and unveiling your “how to” book; do you hope to include the strategy used to achieve this immense results which i feel would be a great idea in relation to the purpose the book will be serving, “how to grow a small account”?
Hi @ayodimej1
Thanks for the feedback and the kind comments.
Yes, I absolutely will be sharing the strategies I am using to grow this small account in my book. In fact, it’s the very reason I am doing this challenge. My theories would hold no value without first proving them.
It will likely be several months before the book is ready so stay tuned . . .
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