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Grow that account! (£100 - £50k)

  • #21
  • Feb 27, 2022 10:29am Feb 27, 2022 10:29am
Quoting Mr.Burger
£100 - £50k for a few months? are you a beginner Mitiblotch? anyway good luck
has no clue.. £100 to 50k and to make matters worse less than one year
  • #22
  • Feb 27, 2022 10:36am Feb 27, 2022 10:36am
Quoting Mr.Burger
£100 - £50k for a few months? are you a beginner Mitiblotch? anyway good luck
Thanks for wishing me luck. There is nothing wrong in trying. No, I am not a beginner. Even if I don't meet the target but grow the account substantially, I will have succeeded.
  • #23
  • Feb 27, 2022 12:58pm Feb 27, 2022 12:58pm
I am also worried about your experiment, Mitiblotch. The period you chose to accomplish your goal is very short. You do understand that increasing your account from $100 to $10k is multiplying your capital by 100 times. What is your win/loss ratio?
Risk Management is of utmost importance!
  • #24
  • Feb 27, 2022 4:35pm Feb 27, 2022 4:35pm
Quoting RCtrader
I am also worried about your experiment, Mitiblotch. The period you chose to accomplish your goal is very short. You do understand that increasing your account from $100 to $10k is multiplying your capital by 100 times. What is your win/loss ratio?
Thanks for your concern. Don't be bothered. Like I said, even if I don't hit the target, if I substantially increase the capital then I have succeeded. I have done crazy things with some other accounts. Let's see how far I can go with this. It's actually fun for me. I don't have an image to protect; just a random guy trying to achieve something. Better to try than not do anything at all. Let's see how it goes.
  • #25
  • Feb 27, 2022 4:54pm Feb 27, 2022 4:54pm
Quoting Mitiblotch
{quote} Thanks for your concern. Don't be bothered. Like I said, even if I don't hit the target, if I substantially increase the capital then I have succeeded. I have done crazy things with some other accounts. Let's see how far I can go with this. It's actually fun for me. I don't have an image to protect; just a random guy trying to achieve something. Better to try than not do anything at all. Let's see how it goes.
You havent even started your system showing everything and you have people fearing I did pln not including the others you got this you know what your doing..
I am watching and excited for you..
  • #26
  • Feb 27, 2022 10:09pm Feb 27, 2022 10:09pm
The heart wants what it wants, can't wait to watch u try your luck.
Best of wishes!
Face 'ur fears & tame 'ur greed
  • #27
  • Feb 27, 2022 11:12pm Feb 27, 2022 11:12pm
Quoting 7154Superman
I'm in! However, I manage 20 sub accounts on Oanda to provide flexibility. Only the first 8 accounts are visible on Trade Explorer. But I'll do my best. Current account balance = $2,600+ and counting... Current overall all time profit on Oanda = +$613.90. Trade safe and have fun!!
I managed to grow from $1,800 to $3,200+ in less than a week. Waaayyy more profit than expected.... Thank God!!
My general expectation is 1-4% per day, 5-20% per week, not 78% in a week...
Total overall profit on Oanda is now $1,167.59.
Time for a decent withdrawal to reduce risk exposure, then continue....
You cannot fail if you never give up.
  • #28
  • Feb 28, 2022 1:15am Feb 28, 2022 1:15am
Quoting 7154Superman
{quote} I managed to grow from $1,800 to $3,200+ in less than a week. Waaayyy more profit than expected.... Thank God!! My general expectation is 1-4% per day, 5-20% per week, not 78% in a week... Total overall profit on Oanda is now $1,167.59. Time for a decent withdrawal to reduce risk exposure, then continue....
Everything is possible. Yes, everything thing is possible. Don't ever look back. If you want it go for it. Keep going and you will hit your target! Congrats on your profits. Last two weeks I did $400 to $2k in less than 2 weeks. But now I want to be accountable and do it gradually.
  • #29
  • Feb 28, 2022 3:44am Feb 28, 2022 3:44am
Quoting Mitiblotch
{quote} Thanks for your concern. Don't be bothered. Like I said, even if I don't hit the target, if I substantially increase the capital then I have succeeded. I have done crazy things with some other accounts. Let's see how far I can go with this. It's actually fun for me. I don't have an image to protect; just a random guy trying to achieve something. Better to try than not do anything at all. Let's see how it goes.
I understand. You do what you feel is right and your friends are there to encourage you.
If there is any day you think the market is uncertain then don't enter it at all. Your life does not end in September.
Risk Management is of utmost importance!
  • #30
  • Feb 28, 2022 3:46am Feb 28, 2022 3:46am
Hi,
I hope you can achieve this challenge, and I look forward to learning a lot from your trades. Good luck!!
  • #31
  • Feb 28, 2022 5:36am Feb 28, 2022 5:36am
I am interested to follow your challenge.
Will you also post here with Forex Factory Explorer?

Quoting Mitiblotch
GROW THAT ACCOUNT -- MY £100 TO £50K CHALLENGE The main reason for this thread is to challenge myself to do something I haven't done before. I know it is possible because I have done smaller challenges before and completed them successfully. Now I want to take it a notch higher by growing a £100 account to a £50k account in 7 months. I can trade and I know it, but I want to add some level of accountability to my trades hence my making this journey public. Another reason for doing this is to inspire those out there who keep complaining that they...
Funded trader
  • #32
  • Feb 28, 2022 12:24pm Feb 28, 2022 12:24pm
Quoting Mitiblotch
{quote} Thanks for wishing me luck. There is nothing wrong in trying. No, I am not a beginner. Even if I don't meet the target but grow the account substantially, I will have succeeded.
nothing wrong in what u are trying but honest do u not think this is like trying to jump to the moon?..I mean if u do this, u instantly as good if not better than any trader
  • #33
  • Mar 1, 2022 1:47pm Mar 1, 2022 1:47pm
Quoting 7154Superman
{quote} I managed to grow from $1,800 to $3,200+ in less than a week. Waaayyy more profit than expected.... Thank God!! My general expectation is 1-4% per day, 5-20% per week, not 78% in a week... Total overall profit on Oanda is now $1,167.59. Time for a decent withdrawal to reduce risk exposure, then continue....
New update:
Today finished fantastically with an additional +$236.95 profit (+7.34% ROI) netted since 38 hours ago.
Current account balance on Oanda = $3,463.85, profit = $1,404.54.
I didn't manage to withdraw anything yet because of some technical trouble on their website, but they are working on it. So far, so good.
I thank God for giving me success. And I wish you all the best! Have a fantastic day!
P.S. I would love to hear about your progress as well! Peace out...
You cannot fail if you never give up.
  • #34
  • Mar 1, 2022 5:23pm Mar 1, 2022 5:23pm
Now I have to follow this route too. I wanted to place a buy, after some time I check it and see that I had sold it which made me crazy and instead of profit I lost more.

Now I have 200 euro on mine account. Because this is mine last chance in trading I will do it more carefully.

I will aim for 1% grow and goal is 25K. About 500 times 1% grow is required. With just aiming for 1% grow I think I can do more trades a day if I have time. I will try to keep the lot size very small for 1 % grow. Using high lot sizes compared to mine budget is mine biggest problem. Therefore I have to use small lot size. If I have to be honest usually 10 pips is possible for me at the moment as with forex the big boys decides where it goes most of the time if we zoom in, which is day trading I think.

Probably I won’t have time to finish this as this can require 2 years. But at the moment I have no job, so I can try this and will aim to reduce the time by trading more than usual.

I start today, 2 March.
  • #35
  • Mar 2, 2022 4:57am Mar 2, 2022 4:57am
Would be easier to track if you have a daily target...do you?
  • #36
  • Mar 2, 2022 7:40am Mar 2, 2022 7:40am
Hi all,

I am sorry for the delay. I am already three days behind schedule due to work related issues.

Had some very busy time at work these past few days but it's all calm now. I have been able to setup my account. I will be trading using MT5 for android most of the time, because as I stated earlier, I will trade on the go. My broker said I needed to deposit £200 in order to activate my account. So I did exactly that and got the account activated, and then made withdrawal so that the equity is now exactly 100.

I found out it's a bit complex to get myfxbook up and running for MT5. I have tried it today both with the installer and manually and it still isn't working. So I sought for an alternative and saw a great one being fxblue (also called MT4i). I have synced the account and will drop the account statistics link here below and also in the original post. Maybe at the end of the day I will see if I can get myfxbook up and running, too.

Here: https://www.fxblue.com/users/mitiblotch/stats

Thanks for your support, criticisms and encouragements.
  • #37
  • Mar 2, 2022 7:40am Mar 2, 2022 7:40am
Quoting GilverTrader
Would be easier to track if you have a daily target...do you?
For instance, 10% a day for 60 days on $1,000 will land you at an amazing $304,481.
  • #38
  • Mar 2, 2022 8:11am Mar 2, 2022 8:11am
Quoting Mitiblotch
Hi all, I am sorry for the delay. I am already three days behind schedule due to work related issues. Had some very busy time at work these past few days but it's all calm now. I have been able to setup my account. I will be trading using MT5 for android most of the time, because as I stated earlier, I will trade on the go. My broker said I needed to deposit £200 in order to activate my account. So I did exactly that and got the account activated, and then made withdrawal so that the equity is now exactly 100. I found out it's a bit complex to get...
may I suggest to put stats link in 1st post
cheering for you
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Forex can only be understood backwards, but it must be traded forwards.
  • #39
  • Mar 2, 2022 8:15am Mar 2, 2022 8:15am
Quoting prozor7
{quote} may I suggest to put stats link in 1st post cheering for you {image}
I will do that immediately. Thanks a lot.
  • #40
  • Mar 2, 2022 8:19am Mar 2, 2022 8:19am
Quoting GilverTrader
{quote} For instance, 10% a day for 60 days on $1,000 will land you at an amazing $304,481.
I am using the template uploaded in the first post. I will use the target on the template but there are days I will make more due to certain factors I will explain as the days and trades go by. Indeed, little drops of water make a mighty ocean. Thanks for your suggestion.
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