I often hear people say that you can't do much with a small account. I currently have a small $500 account with a retail broker. It started at $595 and is now in the negative....open equity is at $491.30. My closed balance is $643.61.
I started this account on August 1, 2009. It has been neglected somewhat as I have been focusing more on my client's account. I manage a fairly large private account and have been sidetracked by it quite a bit. At the moment, I have a ton of trades open and thus the drawdown...but because I'm stubborn, I will leave them open and try my best to trade the account back to positive....
This is my attempts to grow my tiny seed capital into something substantial.
If you ask me what my method is, I will say I utilize several styles of trading that I combine into one....it just depends on my mood and what the market is doing, trend trading, counter trend trading, hedging, scalping, support and resistance, fibs.....basically anything I can use to make a buck. Its basically a clawing match for me, each day is a personal struggle. My attention span is very short and I am known to be very impulsive in the way I trade....I use whatever I'm in the mood for as I have studied various styles of trading.
This journal is mainly about a personal journey to stay focused. I'm not here to reveal anything of the way I trade. My main goal in starting this thread is to keep my focus so that I can reach my goal of growing a tiny seed account into a million dollars.
I believe it can be done, as to how long, I do not know, but I will try to keep this journal open for as long as the account is in profit.
I will from time to time, probably add funds to the account as I obtain $$$ from other sources.....sorta like a savings plan. When I do, I will note it so we can see what is actual seed capital versus profit.
My hopes are now that I have my account exposed, I will take a more cautious look at things.
My drawdowns fluctuate as I do not use stops in the conventional way, meaning, I do not use stops to manage a loss...instead, I use stops to protect a positive position from going negative, but not always.
In any case, my focus in this thread is to stay focused and to keep growing the account. Whenever I have a drawdown, I may be accumulating positions for a bigger play. The trick is to not get into a situation I cannot get out of....
I thank you for your interest and we'll see where we end up......
Any comments or critique is fine...I will say that I never listen to anyone, but you are free to state your opinions.....I'm a hard hat and only listen to my own instincts and reflection....
I will also setup a myfxbook.com link so that you can visually see my progress. I am about to head to church right now to pray for nothing more than guidance in making good decisions.
Thanks for visiting my thread.
X.
I started this account on August 1, 2009. It has been neglected somewhat as I have been focusing more on my client's account. I manage a fairly large private account and have been sidetracked by it quite a bit. At the moment, I have a ton of trades open and thus the drawdown...but because I'm stubborn, I will leave them open and try my best to trade the account back to positive....
This is my attempts to grow my tiny seed capital into something substantial.
If you ask me what my method is, I will say I utilize several styles of trading that I combine into one....it just depends on my mood and what the market is doing, trend trading, counter trend trading, hedging, scalping, support and resistance, fibs.....basically anything I can use to make a buck. Its basically a clawing match for me, each day is a personal struggle. My attention span is very short and I am known to be very impulsive in the way I trade....I use whatever I'm in the mood for as I have studied various styles of trading.
This journal is mainly about a personal journey to stay focused. I'm not here to reveal anything of the way I trade. My main goal in starting this thread is to keep my focus so that I can reach my goal of growing a tiny seed account into a million dollars.
I believe it can be done, as to how long, I do not know, but I will try to keep this journal open for as long as the account is in profit.
I will from time to time, probably add funds to the account as I obtain $$$ from other sources.....sorta like a savings plan. When I do, I will note it so we can see what is actual seed capital versus profit.
My hopes are now that I have my account exposed, I will take a more cautious look at things.
My drawdowns fluctuate as I do not use stops in the conventional way, meaning, I do not use stops to manage a loss...instead, I use stops to protect a positive position from going negative, but not always.
In any case, my focus in this thread is to stay focused and to keep growing the account. Whenever I have a drawdown, I may be accumulating positions for a bigger play. The trick is to not get into a situation I cannot get out of....
I thank you for your interest and we'll see where we end up......
Any comments or critique is fine...I will say that I never listen to anyone, but you are free to state your opinions.....I'm a hard hat and only listen to my own instincts and reflection....
I will also setup a myfxbook.com link so that you can visually see my progress. I am about to head to church right now to pray for nothing more than guidance in making good decisions.
Thanks for visiting my thread.
X.
In Charts We Trust!
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