$10 to $10k

The title says it all...

I've successfully gotten $10 to $1k but never more.

Up for the challenge this month

Will update with trades I take

I simply use price action. Look for setups on the 1hour and execute off the 3 minute.

No need to show off and start from 10$ again.
Take 1k to 100k.

Nice idea but I agree with with the last post.

No need to start so low unless one is just doing it for fun.

I have a similar plan but I started last week with $150 and I decided to go all out and short the news since I expected NFP to be green. I set a 100 pip TP and opened a 0.23 (mini-lot) trade at 2066 a few minutes before. I was a total idiot to not watch the trade!! The price went down to 2055.98 so it missed my target purely on the spread. How many times does the price almost get to your target but not quite! I would have had nearly $300 profit but ended up with a $75 loss when I was stopped out on margin. I can't believe that it was manipulation, purely bad luck? Anyway I was so annoyed that I decided to go for it and ended the day $24 up on the account. So from $75 I got back up to $174 which just shows what you can in fact do with very focused trading and of course 1:500 leverage. I've attached my statement so that you can see the whole miserable story. I'm happy though that I didn't follow my first instinct to pack it in and withdraw the balance back into my back account

Well I decided to keep going and see how far we can get

Managed another 15% today. Hope the thread starter doesn't mind if I give a little advice to any newbies looking in who want to try this. Things that you wont hear on Youtube when you see these "amazing" traders flipping small accounts with seemingly the greatest of ease!

Two very important DON'TS which are by far the biggest cause of blown accounts:

1/ NEVER double up on a losing trade. I repeat, NEVER double up on a losing trade! (there is a better way which I will explain).

2/ Do NOT over-trade. So very often one makes a nice little profit, then you just can't close the platform , can't stop chart-watching, you are feeling so clever
due to a winning start and hey presto, in no time at all you've given it all back and more

Now for the DO's:

1/ You need to trade with carefree state of mind, without fear. That comes from ONLY trading with money that you can afford to lose.

2/ Try to FORCE yourself to keep the trade open for as long as possible - once you've set your stop loss at break even. You can't lose so why not try and win as much as possible. You have to remember that every new trade carries new risk so LOVE THE ONE YOU'RE WITH!

3/ You must have a solid strategy or edge that generally yields at least 10 - 50 pips win. Remember that scalping is a losing game. I've yet to meet a scalper that is profitable in the long term.

4/ If you intend to flip a small account, you NEED leverage. 1:500 is minimum in my opinion otherwise your account is going to build so slowly that you'll get frustrated and start making stupid mistakes.

5/ Only add a new trade or position to to a winning trade and then only if the trend is strong.

6/ When you are trying to flip a small account, the normal "have more winners then losers" strategy doesn't work. If you start with 3 or more losers in a row you're so far down you may never recover! You need to be focused on having winning trades or at least BE trades right from the start.

7/ Lastly I do and what works is to hedge ASAP when you realise that you're trading in the wrong direction or you get caught by a sudden pull-back (very common!). As an example, if you open a $1 a pip buy trade, immediately set a $1 a pip sell stop about 5 - 10 pips away. This strategy is best executed on the 1 min chart because 100 points on Gold (for instance) is quite a big stop loss on the 1 min chart. If the hedge is triggered, DON'T PANIC - just be PATIENT and wait until a strong candle/trend starts in EITHER direction and close the opposing trade. You can even add to that trade because it will automatically be a winning trade. Of course you need to be experienced and practice this on demo first. Believe me, after years of trading, I've found this to be the best method of avoiding a nasty drawdown when trading a small account. Even if you escape with break even, it's really a win! Then just start again.

Hope this helps

Looks like I've taken over this thread. Hope Sofiecoco doesn't mind!

Strange how little interest there is in doing this kind of thing. It's fun and trading with "pressure off" is really enjoyable. Satisfying too to see how far one can actually go. When your starting balance is very low like $50 or $100, it's fairly easy to make 10% or more. Why it gets so much more difficult to do that when one's balance gets a lot larger is a mystery. Must be mental? Greater fear of loss does lead to one making stupid mistakes. No doubt about it.

Well I'm packing up for the day. Trading conditions after 3.00pm GMT are often very choppy with a lot of stop hunting.

Made 30% at one stage but gave back 10%. Breaking the overtrading rule again! But happy with 20%