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$300 Start up in a Mini a/c - What trading system could increase this to $1000/month

  • #1
  • First Post: Apr 10, 2007 5:35am Apr 10, 2007 5:35am
One of the major reasons i have noticed why 95% of new traders (who start little) loose almost all their cash(if not all) is because of the amount they demo trade with. I remeber when i was demo trading with $10,000...making the money with simple trading methods were quite easy. I had no psychological analysis affecting me then because i knew that i had enough money to trade with. So loosing 10% of my account per trade wasn't that bad.

I now chose to start a demo trade with $300, and right now its really not easy coz those methods are not just as helpful as i thought they were. From a combination of MA crossovers, to MACD, RSI etc. Now i trade very carefully and i'm learning quite a few tricks.

But the point is that all i notice is that, if i gain about $70 today, by tomorrow it's gone in just one trade. So i keep moving up and down around my $300. There's no steady progress. I even made up my mind to open only 1lot per trade instead of my normal 2lots/trade inorder to minimize the loss per trade

I was only hoping we could get someone in this forum who started with about this same amount of $250 -$300 and increased his/her a/c steadily over a period of time. I know money management skills are required here, but this only works if you also has a few good trading system skills to match or even better, override the losses when you start with a little.............or who has a different view? Can anyone be kind enough to help? Thanks
  • #2
  • Apr 10, 2007 5:57am Apr 10, 2007 5:57am
If you are around break even, that is excellent!

You do know that if you grow your account to $600 in a year, that is an outstandig performance?

What do you expect?

It's strange what kind of return people in here are expecting. They usually think they are going to perform better than pretty much every pro-trader in the world!

100% ROI is off the rocker awesome performance, and if you can show that performance over a few years, people will throw money at you to trade with!

Dont fall in the trap thinking you will make $1 000 000 from your $300, because you wont!
  • #3
  • Apr 10, 2007 6:12am Apr 10, 2007 6:12am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quote

If you are around break even, that is excellent!

You do know that if you grow your account to $600 in a year, that is an outstandig performance?

What do you expect?

It's strange what kind of return people in here are expecting. They usually think they are going to perform better than pretty much every pro-trader in the world!

100% ROI is off the rocker awesome performance, and if you can show that performance over a few years, people will throw money at you to trade with!

Dont fall in the trap thinking you will make $1 000 000 from your $300, because you wont!

Well I do not agree on that.Hypoteticly speaking.....If I am taking such a risky investment like FX I am expecting higher results.I wont say that 100% is nothing....but it depends which market are we talking about....
So bassicly I am expecting 10% per month....or more....
----------------
Plan your trade and trade your plan
  • #4
  • Apr 10, 2007 6:16am Apr 10, 2007 6:16am
You are expecting more than 100% ?

Nice, you should be hired by a hedge fund and making billions in no time.

Good luck.
  • #5
  • Apr 10, 2007 6:20am Apr 10, 2007 6:20am
Quoting Nybegynner
If you are around break even, that is excellent!

You do know that if you grow your account to $600 in a year, that is an outstandig performance?

What do you expect?

It's strange what kind of return people in here are expecting. They usually think they are going to perform better than pretty much every pro-trader in the world!

100% ROI is off the rocker awesome performance, and if you can show that performance over a few years, people will throw money at you to trade with!

Dont fall in the trap thinking you will make $1 000 000 from your $300, because you wont!

Thanks Nybegynner,
i never said or adviced anyone to aim for $1 000 000 from $300. The point that i'm trying to make here is that i strongly belive that there are successful traders out there who started little and were able to build up a $300 a/c to about $1300 after 4-5wks of trading.
I understand your point, coz loosing is also part of trading. What kind of methods were they using (on what leverage,what trading system, what s/loss etc)....I know there out there....and one is coming to our rescue soon. I believe in this forum! I'm only watching out.........!
  • #6
  • Apr 10, 2007 6:32am Apr 10, 2007 6:32am
Try this,

After you make $70 don't jump back into the market, wait 2-3 days, cool off.

Maybe that will help.

$70 is pretty good for $300 account, you must be trading in pretty large chunks.
  • #7
  • Apr 10, 2007 6:34am Apr 10, 2007 6:34am
The return rate you are talking about is making you 1 000 000 in approx 4 months......

Sure you can add a $1000 to your account in four/five weeks, but then we are not talking about trading anymore, but gambling. You could just as well play the roulette wheel.
  • #8
  • Apr 10, 2007 6:42am Apr 10, 2007 6:42am
Quoting Rajj
i strongly belive that there are successful traders out there who started little and were able to build up a $300 a/c to about $1300 after 4-5wks of trading.
Those traders don't belong to the 5% of sucessfull traders, they belong to the 1% of top traders in the financial markets. Be sure you won't find any method here that will make a 300$ account turn into a 1300$ in 4/5 weeks.
You have to get real!
  • #9
  • Apr 10, 2007 6:51am Apr 10, 2007 6:51am
Quoting irusoh
Try this,

After you make $70 don't jump back into the market, wait 2-3 days, cool off.

Maybe that will help.

$70 is pretty good for $300 account, you must be trading in pretty large chunks.

Large chunks?....well, i think the last time i got that much in a coulpe of 3 trades was on the last NPF last Friday. I had 3trades aiming 10pips on 2 lots each and 1trade aiming 5pips on 2lots. My leverage is quite high 400:1...and i think that's were i'm having a problem. I have reduced my lot per trade to 1 instead of 2......but i'm still looking for a consistent system that works 90% of the time.
I could reduce my targets...."i belive little pips make a might a/c...just as little drops of water make an ocean (if only it can be consistent)"
  • #10
  • Apr 10, 2007 6:51am Apr 10, 2007 6:51am
have you guys seen the results from fxsol practice make perfect competition the 2 top guys got over 1,200% in one week, for those that say well thats on a demo well check out the results from there forex world series competition these guys average 800% per week with real money, and this aint no joke.
If I Go Broke Trying Then I Will die happy.
  • #11
  • Apr 10, 2007 6:56am Apr 10, 2007 6:56am
I think it said the top guy did +800% in four weeks. Still pretty dam impressive though.
  • #12
  • Apr 10, 2007 6:58am Apr 10, 2007 6:58am
Quoting Nybegynner
I think it said the top guy did +800% in four weeks. Still pretty dam impressive though.
let me see if i can find that link
If I Go Broke Trying Then I Will die happy.
  • #13
  • Apr 10, 2007 7:02am Apr 10, 2007 7:02am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I agree it is not easy to make 1300$ from 300$ in one month. It is possible but there is so much risk involved that I would also call it gambling. But I do not agree U can not make 10% monthly return.That would be just 30$ in first month and 33$ in second month and so on....At the end of the year U would end up with 940$.

I think thats possible. I dont say its easy and anyone can do it but with good system tested on demo (has to work there for you), money menagement, strict entry and exit rules, risk/reward, be aware of daily news.....yea I think its possible...

--------------------
Plan your trade and trade your plan
  • #14
  • Apr 10, 2007 7:06am Apr 10, 2007 7:06am
here's the link this is the final results but during this same competions they had a weekly prize winner where there was a couple of traders getting over 800% in one week, i will try to find the practice make perfect results.

http://www.forexworldseries.com/ click on leader board at the bottom.
If I Go Broke Trying Then I Will die happy.
  • #15
  • Apr 10, 2007 7:11am Apr 10, 2007 7:11am
Very impressive!
  • #16
  • Apr 10, 2007 7:15am Apr 10, 2007 7:15am
check this one out this guy got over 2,000% again i will never overlevrage my trades like this, this is just to show you guys if you got a good system you can make a lot of money.


http://www.fxsol.com/pmp/ended.asp click on winner circle.
If I Go Broke Trying Then I Will die happy.
  • #17
  • Apr 10, 2007 7:19am Apr 10, 2007 7:19am
by the way this guy won round 3 and 4, round 3 he made 1,200% return.
If I Go Broke Trying Then I Will die happy.
  • #18
  • Apr 10, 2007 7:23am Apr 10, 2007 7:23am
by the way if you overleverage your trade like these guys it only takes 1 or 2 trades to send you to the poor house. the name of the game is to live to trade another day, never overleverage your trades.
If I Go Broke Trying Then I Will die happy.
  • #19
  • Apr 10, 2007 7:30am Apr 10, 2007 7:30am
For me, it's the trader... not the system.

I've seen lots of good systems work for some and not work for others because of all the other stuff that gets in the way (mostly greed, fear and delusion causing the trader to interpret the charts poorly).

In my own experience I've found that (like you) consistency is the problem. Anyone can double their money by being on the right side of a trade and buying a good number of lots... but can they do it twice? Three times? How about 300?

The best thing I ever did was already suggested earlier in this thread...

When I have a few profitable trades I take some time off. ESPECIALLY if it's a large gain. If I don't I tend to get caught up in the flow and soon I'm thinking about the island I'm going to buy and not about the next trade. Trade in the moment, ya know?

Took me 2 years of trading to admit I was really doing that BTW... just stubborn I guess.

...AggieTrader...
  • #20
  • Apr 10, 2007 7:41am Apr 10, 2007 7:41am
yes it's hard not to think about the money once you got a few good pips in the bag, i too was thinking about that island i was gona buy once i made some good pips, by thinking like this it takes away your trading ability on the next trade, so the main thing to do is to stay focus and keep your mind off the money / pips.
If I Go Broke Trying Then I Will die happy.
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