How to Grow Small Trading Accounts FAST in 2024

a lot of trading advice you see online is absolutely oh use the Martin gild strategy use a one is to 1,000 leverage so they can make millions on a $100 account now cut all this out because I'm here to show you how to actually grow your small trading account fast so here are five secrets to exponential profits the first step is to choose good Brokers that offer High leverage the biggest decision you can make in your trading journey is the broker that you choose to trade with choose the wrong broker and you risk losing your heart earned money choose the correct broker and you'll be able to trade with peace if you are trying to grow a small trading account you'll be able to grow it so much faster if you use a higher leverage higher leverage means that you'll be risking more money to earn more money for example let's say that you have $100 inside your trading account if you use a 1 is to 50 leverage you will have a buying power of $5,000 and this this will allow you to trade up to 0.05 Lots which is five micr Lots however if you use a one is to 500 leverage now you have a higher buying power of $50,000 and this will allow you to trade up to 05 Lots which is five mini Lots this means that you can risk more money to earn 10 times more money just because you pick a higher leverage now bear in mind that Leverage is a double- Ed sword it can cost you to make a lot of money fast but it can also cause you to lose a lot of money fast now do I recommend you doing this hell no because you will have a higher chance of blowing your account but hey I'm just here to share with you how I personally grew my small trading accounts so if you do decide to use leverage make sure you do not over leverage and blow your account make sure you set proper risk parameters practice proper risk management and use leverage to your advantage now thousands of Brokers have asked me to promote their broker on my YouTube channel and one of them even offered to pay me $50,000 if I just make one video on them and I have never accepted any of these sponsorship offers because the last thing I want to do is to jeopardize your hard-earned money so don't use a trading broker just because your favorite trading Guru created it or they promoted it there was this one time in 2021 where I deposited around $150 into a trading broker that this YouTuber recommend that I thought that it was safe to use and it was regulat and licensed just because this YouTuber promoted it and I swear to God they shut down and froze everybody's funds the next month they did not let anyone withdraw their money at all so they pretty much ran away with my $150 that I earned from working A8 hour Shi as a restaurant waiter I was pissed off and I started emailing them but nobody replied this is exactly why it is so important for you to do proper research before deciding on what broker to use choose a broker that is regulated licensed and safe to use choose one that offers low commissions and fees because they add up especially if you are trading a small account choose one that offers responsive and knowledgeable customer report and make sure that you evaluate the reputation of the broker by looking at the ratings and reviews left by other Traders nowadays I personally own use licensed Brokers like Enda or IG because I no longer need an account with high leverage since I'm trading with a larger Capital right now but I'll talk more about this at probably towards the end of the video where I give my unfiltered advice to small account Traders the second secret is only take high priority trade setups I had made about $1,000 on a $250 account in just two days even though back then I had no idea on how lot sizes and risk management work yet I couldn't believe that I had just made my monthly salary in Just 2 days that was the day that changed everything that was the day that I decided to pursue trading fulltime and trade trading much more seriously now during those two days what I did was that I was only focused on taking high probability trade setups now the question becomes what defines a high priority trade setup that means that I will only take the trade if it passes this five step test firstly establish a trend Direction so if it's a uptrend I'm going to be entering for by and if it's a downtrend I'm going to be entering for a sell secondly I'm going to be looking for my trade trigger so this could be in some form of confluences that tell me that I should enter for the trade be Candlestick pattern chart pattern key levers Fibonacci moving average whatever thirdly stop loss if I'm entering for a sell I'm going to be placing my stop loss above the swing high or above the key resistance level level fourthly take profit for take profit I'm going to be taking profit at the next key level and the last critical factor is the risk to reward ratio only take trades that offer you a reward that is two times greater than your risk if losing $50 means that you have reached your stop loss your target profit should be at least $100 or more when I'm trading the minimum risk to ro ratio is 1 is to two if it's less than that I'm not going to be taking that trade please for God's sake guys do not try to trade every single setup that you see if not your account will suffer preserve your trading Capital instead of wasting it on low probability trade setups which you know for a fact that they will not work resist the urge to trade on impulse and instead wait for the trading opportunities that is aligned with your trading plan and your trading strategy when you truly develop patience you'll be able to make much more logical DEC iions and you will stop chasing short-term profits which will compromise your long-term goals the Third Secret is to increase your risk as your small account gets bigger the only way you can build master is through Progressive overload you will not get stronger or more muscular if you are just doing 12 reps of bicep curse using 4 kg of dumbbells for one year straight you have to slowly increase the Reps or the weight in order to overload your muscles this concept applies in trading as well you probably heard about the 1% rule which states that you should only risk 1% of your trading account on any single trade now you must understand that risking 1% on the $100 account is different from risking 1% on the $100,000 account if you risk 1% on your $100 account you're going to be making $2 profit and that is not going to put foot on the table man the amount of money that you should be risking per trade depends on your risk tolerance and the quality of your Trad setup determine your risk tolerance because it's different for everyone I myself is comfortable with risking $11,000 on a single trade but you might not be okay with that you might only be okay with risking $50 on each trade and that is perfectly fine because everyone have different risk appetite before you enter a trade you must determine your risk per trade and then choose a proper lot size always think about how much money you will lose if the trade does not go as plan are you comfortable with losing that amount of money if not use a smaller lot size since you are only taking high priority trade setups you can RIS up to 10% of your account on a single trade until your account eventually reaches $1,000 then you'll be risking 10% of $1,000 not 10% of $100 which is the initial amount that you started with always Progressive overload so your account gets bigger and never never ever risk too much money on a single trade meaning that you should not RIS 50% of your account on a high poity trade setup I need you to wake up and understand that you will not get rich by only risking $1 on each trade you won't make money if you are scared to lose money drew that into your brain the fourth secret is compounding your account you open up Instagram and you see one of those Finance motivational videos that say oh compounding is the it for wonder of the world if you invest $1,000 and you make an average return of 20% per year you will end up with a whooping $230,000 at the end of 30 years so what am I supposed to enjoy my dream life only when I'm old and gray why not get rich right now in your 20s and in your 30s where you still have the time and energy to go out there to enjoy your dream life travel the world and gain new experiences I don't believe in the stock market compounding because it is absolutely impossible for you to make 20% per year consistently because of the changing market conditions rather than letting the market decide how you compound your account why not take control of your own compounding and you can do that by reinvesting your profits and also adding funds regularly into your account add funds into your account regularly the more money that you have inside your trading account the more money you can risk on each trade and in return the more money you can earn now make no mistake I am not telling you to deposit all your life savings into your trading account because I did that once and it was a absolutely horrible horrible life decision that I regret you should only deposit your disposable income the money that you can afford to lose because once you put that money into your trading account you must automatically assume that it is gone forever reinvest your profit profits choose short-term pain for long-term gain delay gratification instead of withdrawing your profits to go and buy your favorite pair of Nike sneakers you should be reinvesting the profits back into the account so that it can compound exponentially now the downside of compounding is that it will take a very very long time for you to see any significant returns and you have to be okay with that because it takes a lot of time for the compounding effect to work that is why you need to be patient because because good things take time the fifth secret is to obsess over the r multiple rather than the money most of us started trading because you wanted to get rich and make lots of money but do you realize that when you obsess over your profits you actually tend to lose more money by focusing on your profits you are slowly destroying your account without even realizing it for example let's say that you're trading a small $500 account and you enter for a Buy on EUR USD and you made a small more $30 profit from it now you start to think to yourself I spend so much time analyzing the charts just so that I can only make $30 while all these other Traders out there are making thousands of dollars on one trade you might get lucky and flip the account to $1,000 but eventually your beginner luck will run out you blow your entire trading account and you lose all your hard earned money if you are not disciplined the market will humble you and put you in your place when you are trading a small account of course your profits and your loss will be smaller you cannot be expecting to make thousands of dollars when you are trading a $50 account bro so instead of focusing on the money obsess over the r multiple I learned about this concept when I was reading the book super Trader by Dr vank top and it changed the way that I trade forever the r multiple is your gain or loss compared to the risk that you took on on a trade here's a few examples if you RIS $10 on a trade and you make back $30 that's plus three R if you risk $100 on a trade and you make $50 that's plus 0.5 R if you risk $200 on the trade and you lost $300 that is minus 1.5 R when you start to focus on your R multiple you'll be more objective and rational when analyzing your trading performance per you will no longer be affected by the huge loss or the small profits that you made on your trading account and then that is when you can finally start to focus on the process rather than the outcome and when you focus on the right things eventually money will come now I want to share with you some honest and unfiltered advice for all the small account Traders out there understand that small accounts won't allow you to last in this game you'll eventually blow your small account unless you are the lucky 0.001% that manage to grow into six figures if you want to trade for the longterm small accounts just won't do it right you need at least 5K to 10K in order to trade fulltime that is why you should treat small accounts as a way to practice make mistakes and learn from your mistakes but if you want to trade full-time I'm afraid to say this but you need to hear it small accounts will just not do it if you are serious about trading and you want to treat trading as a business bus you need to have a larger trading capital and you can only get that by increasing your income so find ways to earn more money make more money be it from your job or even trying a new s hustle however if you have a small amount of money but you want to get access to a larger trading Capital what you can do is to try to get funded accounts by prop firms like fdmo but the harsh truth is that most small account Traders they can't seem to pass the prop fir challenges because because they are not used to trading a larger trading account and they are not used to the risk parameters that is required to pass the challenge that is why you need to practice more on your demo account try to get a consistently profitable track record first before you even think about getting funded by prop firms because if you skip the process and you immediately go out there and buy a prop firm challenge right now with no profitable track record you are just wasting your time and your money now if you're looking for a trading strategy to grow your small Forex account fast check out this strategy that I have right here trust me it works and remember you're just one trit away mAh

Channel: The Trading Geek

Views: 598,470

Keywords: how to grow a small forex account, small forex account, forex small account, forex for beginners, forex small account strategy, forex strategy, forex trading strategies, how to grow a small forex account fast, forex strategy for small accounts, how to trade forex, forex trading, learn to trade, forex markets, rayner teo, tradingwithrayner, twr, how to grow a small trading account, small account trading, how to grow small account in forex, how to grow small trading account

Id: qCkeBxt-tkc

Length: 14min 38sec (878 seconds)

Published: Sat Nov 11 2023