Before we jump into details, we need to first see your mindset, your expectations and what can be achieved. We all know that you will not produce one million dollars in 6 weeks, so we need to align your goals and expectations. You will not learn to be a doctor in 2 days, the same as you will not learn to trade in 2 days.
Let’s assume you have a trade account of $ 3000 or less. The first step is to understand that your reason does not make money trading not up to the size of your account. If you can grow a small trading account, you can grow a large trading account, and vice versa. The simple truth is that when trading a smaller trading account you are usually more desperate to grow it faster. You need to control your emotions, control your desire to grow an account with an exponential rate and understand what can be achieved. You cannot permit despair, or ‘need’ to make money to creep in / you will only blow up your account, by trying harder and more risky until there is nothing left.
Look at the percentage growth, not monetary growth.
Focus on market trade, in the manufacture of% growth, not on the money you do to start. For example, if you have a $ 3000 trading account and you consistently generate $ 300 a month, which represents a 10% growth in the account, and will multiply your trading account every year. It is a large% growth, even though money looks small to begin. We all understand that trade is a marathon, not sprint, so hoping to trade actively at least 3-5 years. I always start targeting people at growth of 3-6% per month, and increasing% because their ability to increase.
If we take a growth of 6% per month, this will double your account every year. Given, on account $ 3,000, only $ 3,000 profits, but your account will grow from $ 3,000 to $ 6,000, to $ 12,000, to $ 24,000, up to $ 48,000 to $ 96,000, to $ 384,000 to $ 1,536,000 to $ 1,536,000. You put in the same amount of work in the end, because you are at the beginning, but because accounts are growing, financial refunds from accounts grow and grow and grow.
Treat a small account like 100 times greater than the truth.
Increase your discipline by imagining your account 100 times greater than that, or by imagining you risk all your accounts per trade. Don’t really do it, but think about how your discipline and the quality of your trade will increase if you have to put all your accounts in every trade. The importance of this exercise is not in aggressive risk, but in increasing discipline. Remember that growing a trade account successfully based on taking a lot of profitable trade, with every winner making as much as possible, while losing some trade and losing as little as possible at each loser. The point takes the steps forward, while taking a few steps back. The importance here is taking as little as possible and make it as small as possible. Keep a small drawdown, and the big winner will take care of the rest.
Consistent trace record, worth far more than you imagined
Traders who start with small accounts, must try to achieve a consistent trace record. Consistent trace notes can really take you to the place. If you double your money every year, don’t you do it for others too? Think of everyone you know who has finance to put a minimum of $ 2000 in a trading account and forget it for several years. Parents, grandparents, angel investors, even friends. After you get a solid year trace record, start showing people. You will have many parties interested, because I don’t know anywhere else you can get a 100% + refund every year, and I’m pretty sure they don’t know many places. If you can offer that service, you will be amazed at how many people suddenly find several thousand to put in the account.