Scalping with a small account, how realistic is this?

You can read about it in Chapter 8 of Millionaire Traders, a book by Kathy Lien & Boris Schlossberg. There are some free online copies floating around or you can msg me if you need a link. Long story short the account went from 7k to 145k in about 9 months. It was mostly news trades and round number breaks.

Please send the link to me. Thanks

I found the PDF… my portion starts on page 214, but lots of interesting reads besides mine :slight_smile: Millionaire Traders.pdf (1.8 MB)

Also do not forget account leverage and what currency your trading in. I was told in no way shape or form I could have trade with 23 different pairs open with No stop loss with account of $200. Thats on My Proof Profit Strategy Thread. Depends on your Broker. I have a 1:1500 Leverage trade USD

Scalping the 1 minute chart today with account starting under $300 will have have scalped almost if not over 300 pips right now at 143.9 pips ( did not make goal …market kept going the other way. Tomorrow’s another Day :grinning:

Live Account trading EURUSD ( scalpers be warned WATCH OUT FOR FOREX NEWS)

It takes Patients, discipline, and self-control. … now trading above and below 100 Yellow MA

TabiusLee
Youareascalper

Looks like a good scalp coming into play here on EUR/USD just before 1.20 round number break. Probably a lot of stops sitting above that could pickup the volatility and let it run higher.

My Objective is $200 to over $60,000 Grand by End of Year.

2020-09-02_12-33-46

TabiusLee

Oof 1 minute. :skull_and_crossbones: I don’t think I have the guts to do that! Good for you!

I am finding 15 min and 30 better. Your Right :+1:

1 and 5 minutes sounds SUPER intense. :sweat_smile:

Not really it just constantly repaints. 5 Min not so much .I been using a free Indicator Ipanel Trend
when trade is showing 90 to 95% strength above or below 200 Moving average on the 15 to 30 Min chart I test with .01 lot size and then increase. Try to make sure to catch on higher high or lower low.

Tabiuslee

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Any updates on the progress?

yes I tried a new software and forgot to turn it off. Blew My account. Trading at $24 today. I am still able to trade my account. Time for a Challenge :+1:

Oh no that’s a bummer! I only trust myself to execute trades, but I’m old fashioned like that :slight_smile:

It probably was the best thing to happen to me. I have been laser focused. With such a small account no room for mistakes. Monday I grew it by 16% and this morning 5%. My daily Goal is 5% so I am done for the day. ( it’s 4:00 Am) All I need is discipline and I will be Awesome :+1:

TabiusLee

Wow, how long have you been trading? :open_mouth:

Off and on a few years. Serious trading over a year. You have to look at trading like getting a Master Degree. Once you get a Master Degree then you have to start from bottom and slowly build your way to the top.

I gone thru the education now, I know what kind of trader I am , I am learning from my mistakes, and learning patience.

One more trade and I will hit my Goal for the week and I will be done. ( as long as trade goes my way)

:+1:Tabiuslee

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Nice! Discipline right there. :muscle:

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Stop trading for the week on a Tuesday? If your doing so well why stop, that’s the time to press in my opinion. Normally when i exceed my monthly target i will use the extra to try to make a good month great.

OK I agree I was watching a great .
video on How to grow a Very Small Forex Account Fast | 100 + Pips on Youtube.

Wow 10:00 , 13:00 and 15:00 GBP pairs and others London time usually trade the same direction. Just look for the pattern. I have been able to build live and demo accounts from 25 to 50 % just trying this out. Still have not perfected it. Real game changer :+1:

Tabiusle(Scalper)

This is absolutely possible. If you can’t grow a 300$ account, you Will not be able to grow a Big account either.

Just trade microlots (0.01) and find a broker with Zero spread account. Comission Will be 6$ per lot, so just 0.06 for a microlot, no spread. This is very affordable and tradable.

Depending on the pair, but say that a 10 pip move Will be 1 dollar, so you could set a 60 pip stop loss and your Risk would be 2%; not bad IMO

If your strategy needs more than 60 pip SL, save more money, as you Will need a larger account to have a reasonable risk