Scalping with a small account, how realistic is this?

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

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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.

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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

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Rolland, I have gone through the millionaire trader but did not understand how and where you fetch the news from. Please can you tell me a step by step approach on how to do that. Thanks.

Rol please how do you also trade round number break?

Hello… I sent you a PM on how I get the news. I would recommend you watch the break of 30k on the Dow… You either get a massive pop or a huge reversal. The price action should help you determine which will occur. This applies across the board…

actually thats really difficult to make sure consistent profit from scalping that brings profit in a short time, because need a long time experience with real money management.

  1. Triple Your Demo Twice Before
    Trading for Real
    This insight from Hoosain Harneker is perhaps the most practical
    piece of advice from any of our super star traders. Nobody can
    master a professional skill right away. Doctors practice on cadavers,
    lawyers spend countless hours in moot court, and mechanics toil
    for months in classroom garages. Practice does not guarantee success
    but lack of practice almost always ensures failure. In foreign
    exchange, which is Hoosain’s market of choice, every dealer offers
    a practice platform allowing traders to experiment with virtual
    money rather than real capital. In other financial markets plenty of
    software tools exist to allow the trader to “paper” trade in realistic
    market environments. For example, our other interviewee, Paul Willette, who was already a successful equity trader, spent three
    months paper trading his account when he decided to make a
    switch to electronic stock index futures.
    What makes Hoosain’s advice even more valuable—albeit
    much harder to follow—is that one has to achieve substantial success
    on the demo before moving to a live account. By mandating
    that you triple the demo, Hoosain requires that your trading
    methodology has a discernable edge that should serve you well
    in the real market. While his rules of trade are difficult, they are
    well worth following because they instill the discipline necessary
    to succeed in the real market.

I will read this book. The first thing I saw was this.
It is good to know that someone profesional thinks like you. :wink:
I am on my way from 500 to 100000 in demo.
20000 already in the pocket within 4 weeks, 2 days

Great job! I would try to move on to a real account as things can feel much different when it’s your money on the line. The psychology of the trade is real and not something you will experience in a demo.

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I think it is all about the strategy you use. If you are confident with your strategy, there won’t be much to worry.

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Affirmations can help you. :muscle:

You guys are scaring me now. Im a begginer and i started like 4 weeks ago with a $15 account…i now have $300 in my account. Im not a pro so if i did it then its possible…And how can you say $300 is a small account come on guts😂

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You made a good point​:clap::clap::clap:.

I have learned that with a small account, you always worry about losing it and you lack confidence in your trades. What I do is look for a good setup, set my stop loss and take profit, and enter the trade. If I lose, it means I have lost a part of my capital and I can try again. If I win, I will be grinning at the screen😁. It is very frustrating when you hesitate and the trade goes your way but you didn’t enter. I don’t use complex trading strategies. I use simple trendline and trendline break strategies and sometimes chart patterns that I found in this book - Getting Started in Chart Patterns by Thomas Bulkowski.
Most people ‘my age’ in my country trade forex and most of them are still broke, so I never really wanted to try it. But since I finished high school and I’m bored and have nothing to do, I decided to give it a try and I found it interesting. I tried a demo account for like two weeks, testing what works and what doesn’t, and decided that Im ready. I find it very easy and fun and until now I still don’t understand why people try to complicate trading… maybe I’m saying this because I’m not very experienced😂
But from my days of experience, the way I see it, it’s all about finding a good setup, managing your risk properly, controlling your emotions and just doing it. And most importantly, learning from both your wins and losses…
I have a question…what do most of you think 'bout binary options.

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I think it’s better to scalp if a trader has small trading capital. Try to use small leverage and narrow trading spread.

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