A discussion on how to produce income from a small account

This is a discussionon how I can produce income from a small account.

Even with a small account I can pull income daily. Growth is not a concern it's about being able to pull money from the market each day at will. This account's first trade was on 9/26/22 - just over two weeks old.

This is an example of how a professional trader can pull money from the market consistently nearly everyday.

Most of the accounts I see here (aside from demo) are around the same size so thoughts were this would create more of a relatable impact on forexfactory.

This account at this time is less than fifty trades. I don't normally use mt4 for trade placement and find it rather weak in that respect. My broker offers various platforms and I never cared to realize that you need to route a trade explorer through an mt4 account. Never-the-less, I created it sometime last year I think and thought I should put it to use.

Trading this tiny account does take some getting used to. It's challenging at times to take numbers like this seriously.

There were a few draw downs where I fell asleep, got careless of losing money and let the account go into a massive drawdown percentage wise(do not do this, there are things happening that the typical forexrfactory member isn't aware so cut your losses short) so the account was negatively impacted. I'll be taking it more seriously for examples sake.

I always see "compounding, compounding and compounding", but wonder if these people are even capable putting together the trades to make such a feat happen for them. There is a disconnect of logic, lack of reality and outright delusion. Do you realize the risk is also compounding in your scenario?

You can't take away risk, it's where the money is at, but you shouldn't lose your common sense over your greed and vision of grandeur.

Can you reach in the market and pull income from the same account on a daily basis....ask yourself that. What I do with the cash is my choice. Whether to leave it in the account and increase the size of my trades or to take it and invest it into passive income.

You see, people attempting to become traders (one that makes a meaningful impact on their financial life) are stuck on constructs of "compounding". Would it make more sense to have fixed account size - that I can change anytime I feel - and risk only that or not even the whole amount really to draw money off of every day?...and invest the rest for passive streams.

But you need to be able to pull the money out of the market to begin with.

.....And that is the REAL issue and brings everything full circle regardless of what scheme or trading ideology/construct you may like to carry. Without this ability everything is still a pipe-dream, just like trading in demo and most of what I see here is just that.

I don't know how long I'll be giving TLC to this little account. When I hit 2G I'll start to pull every profit for my pizza fund...I love pizza. -Or- I may just leave it be or even transfer more money into this mt4 account.

The leverage I'm using is US max of 1:50

I'm a pure discretionary trader.

I don't use bots which eventually fail. I'm not piggy backing my other trades (with my accounts and my broker this would be counterproductive) I don't subscribe to some schmuck's signal service etc.

This is an a example of steady returns which I'll try to convey on a daily basis. It won't be the 1:500 leveraged account that moons then fizzles out after a few months because I caught lightning in a bottle or a code that rides the wave like I see here all the time.

My daily goal I set for myself is rather high at 10% and is a just a bar. I don't know if I want to concentrate like that on this tiny account, we'll see.

My returns are concrete and create a very livable income.

With ability the account size does not matter. This is a trading discussion. Feel free to ask or discuss.

OK you got me, waiting to learn whatever I can

The problem is "consistantly" to pull profits! Right now markets are quite volatile potentially making profits a little easier to obtain. When markets return to lower volatile times it gets harder, but you still have to pull your profits. Also, when you get a string of losses (and you will get them) that's when the pressure comes and it takes great character to get through those periods. This is when, in my opinion, traders tend to trip up.................

Not saying any of what you said is true, if you set yourself up for failure what else can you expect besides luck.

The ability needs to be there to make things happen. This is a performance activity and most everyone does not get that.

Yep of course, but why would you set yourself up for failure? I'm not really sure what you mean here .........

When I first started trading, many years ago now, experienced traders were saying you need to learn to control your emotions. I thought, what a load of rubbish! How wrong I was.

It's not your method, it's your emotions that matter

Do me a favor, take your emotions over to the rookie forum. That same generic cookie cutter advice has been regurgitated thousands of times over. If it where as easy as emotions you'd be profitable with all the rest of forexfactory.

Start a thread with a live trade explorer and see how far your emotions get you. That goes for everyone here that wants to give advice. Its a no brainer if you can't show live profitability don't be giving advice on a trading forum. There's a massive amount of misinformation and canned BS in these forums like useless charts and cheap, usleless, recycled info.

I’m rooting for you ! This will be interesting to watch

hello h13,
I liked the topic and your view on making money in forex everyday. I'm following you and this thread.
See you later and good business!