Growing small account

[advfntrader]

whats the most anyone has grown an account of say £100 to ?

if its possible to take bigger risks at the beginning could you grow it to £1k then reduce the risks, although I guess this would enforce bas habits...

 

[scose-no-doubt]

I tried that. Got to £180 then blew up. Over-leverage is never a good idea unless it's risk free. or maybe I just wasn't skilled enough. Too much fluctuation in account balance.

I think gamma turned a free £100 etx acc into £700+

 

[advfntrader]

I've blown up too after £160 when I tried.

but if you can turn £100 into £700, then just keep going and the £700 will £7k within time..
the over leverage WILL kill you eventually...

 

[redart]

£300 to 3k:
http://www.trade2win.com/boards/trading-journals/28872-forex-holiday-fund-16.html

Im sure there are better returns from other traders here, using tiny acounts

 

[scose-no-doubt]

Brilliant thread. Just goes to show how my greed, eagerness and impatience are actually holding me back rather than helping.

 

[fleetwood]

In my youth I've opened accounts with just £100 or so and doubled it but I had alot of money problems so it didnt take long before I withdrew the money to be spent on bills and stuff.
Not long ago I opened with £3500, I had a few pulling the trigger problems probably because its a larger amount of money for me, but I got over that and managed to build it up to just over £12,000. Still got a long way to go but i'll get there. I reckon 2 years i'll have 100grand and a few nice holidays along the way.

 

[glyder]

A couple of years ago I took £140 account to £8K in a matter days (perhaps two weeks max).
It was a good run on the soy beans and soybean oil. I kept adding to the position with the profits.
It might sound like boasting but it was all a matter of luck really. I saw a trend and jumped in, had way too much risk on the table but my downside was minimal (£140) so I didn't care.
In reality trading a small account is the way to destruction purely for the exact reason I was successful that time - losses are not important, management goes out the window and one off luck becomes more important than trading skills, consistent successes and cutting losses.

Of course if that trade had been on a £50k account traded to the same scale and leverage I would be very happy....but who in their right mind would risk that without money management? (Unless £50k is 2% of you account).

 

[Chartsy]

if i had 50k i would take massive risks with £100...why not?

 

[glyder]

if i had 50k i would take massive risks with £100...why not?

Of course, but missed my point a bit.
- In reality I wouldnt take the same risks with all the £50K.
(Unless 50K was 2% of my account. & I am not in that league.Yet.)

 

[arabianights]

Have you looked into various forms of gambling arbitrage? You can start this on a small account and just keep on growing it...

"Risk" the entire account each trade - your risk is one of the bookies going tits up or a small degree of execution risk - and keep on compounding it.

 

[D70]

I did 450 quid into 30,000+ quid. Took 3 years.

 

[glyder]

I did 450 quid into 30,000+ quid. Took 3 years.

Wow, well done, that truly is growing an account.

 

[advfntrader]

you must have been taking high risks at the start ? what timeframe did you trade on.

with compounding thats about 13% per month for 36 months !

I did 450 quid into 30,000+ quid. Took 3 years.

 

[D70]

you must have been taking high risks at the start ? what timeframe did you trade on.

with compounding thats about 13% per month for 36 months !

Hi Advfntrader,
I had max risk at any one time of 30%.
Timeframe was 1hr & 2hr charts.

 

[FSTrader]

3k->7K after three years

 

[BigInTheCity]

$250 to $10,500 in 18 months, withdrew $4,000 and then blew the account within months!

Good times!!!