Did you grow it to $1million as some newbies here seem to think?
Serioulsy though, I ask because I started with a $300 account and it’s now just at $400 and I’ve had this account for a while now. Provided that I don’t trade full time and I only place about 2-3 trades per week, am I wrong to think this is probably going to be the case for most new traders?
Or am I in the really low % and there are actually way more traders out there who have grown their $200 account to $2,000?
But you’re not in the red. That’s significant progress. I’ve read many times that the first step is to learn how to stop hemorrhaging money.
Getting to break even is step 1. So, for you, the ball is rolling in the right direction!
This is a positive development!! If you’re not satisfied with your results, in my opinion, all the answers you seek are in the charts. Look at your trade history and see what you wish you did.
Despite i am up ~9% this year, I am still around my starting balance 500. My intention to trade this low size is not to grow it to a significant amount. It would take years.
I just want to be sure that i am profitable over a long period of time before i throw all my money at the market. Therefore i increase my risk after every profitable month and make a deposit to keep risk between 1 and 2 %.
After your profitable year 2022 with 23% profit and 9% profit so far this year, why dont you increase size? Dont you think you earned it? At least you wont loose much if you look at your past performance.
Don’t be ridiculous girl. You’re doing great! just keep going. My first experience was with a $500 account and that account closed with $1.51 . Now who’s the low%?
Recently, I just started to pour into this whole thing, the first weeks I was trained in all kinds of free courses, strategies, candles, I gathered information for 15 hours a day, I started trading on a demo account a week 5 days ago for the first time, I started with 100 demo dollars, at the moment my account is exactly 300, do you think this is a good result for a trader with 2 weeks experience? Did not use any stop losses. I used every profit to the maximum with a leverage of 50x, in case I exit at 30:2. Euro-dollar. Only technical analysis
Not sure if I qualify to respond to the question posed since my account is current and not past, but for the record it is a live account and still up and running as the screenshot will show.
And I just want to add that for my fellow newbies out there dont follow the peurile garbage rhetoric from self-acclaimed forex gurus that you have to start with large sums like over US$1000.
And YES…I did trade on NFP day despite conventional wisdom from the gurus to avoid trading on NFP days.
Under the second column with the numerals it says deposit (US$100.00). The figure under the first column shows the profit or loss made. The figure under the numbers to the far right show the balance. That is not the current balance because I have made additional trades since then. All this is what took place since the beginning of this month up to today.
If you can grow $100 to $230 in one day, you’re gambling not trading. It’s definitely possible to do that on occasion, but the days you’ll get bitten will outweigh the days you get it right. Because even if you get the ultimate direction right, the short term move against you will often wipe you out before the move you predicted.
That was my first live account. Learnt my lessons and exercised proper (for me) risk management.
My next account was another $100 which took me almost a year to grow to $140.
Well, that’s once once upon a time anyway