Trading Small Forex Account
From time to time I get asked from »big-goals-traders« how to build up your forex trading career, if you have a small forex trading account, as 1000$ trading acccount… In order to learn to trade forex (or any other financial market) you have to invest time and energy to become a successful trader.
Well, in trading there are NO shortcuts. Learning to trade is an investment in yourself. If you want to learn to trade forex, stock, futures find yourself a forex mentor if you want to fastrack your trading progress and save time.
If you are not consistently profitable yet, you must start working on yourself first, before even trying to think about managing the millions of dollars for your clients.
What I mean, by »working on yourself« is simply this…
You must develop as much as possible of experiences and build up your trading skin. Learn to trade forex by focusing on yourself and your trading.
What most retail traders are doing is well known – they open their live trading account right away without any knowldge, trading plan and journal, and they spend whole days in front of their charts, smashing the buy and sell buttons trying to catch every tiny market move. If you have a passion for your trading, learn to trade forex and try to become the best trader possible.
Totally wrong approach, and no surprise +90% of retail traders are consistently losing the money trading the markets.
Then they blame the markets , their brokers , state 100s of excuses on why this and that….
You name it!
If they majority of traders would work on themselves first, results would be much more different as they are.
Trading account value does not mean nothing.
What matters is consistency in your trading process.
At the end of the day, trading account value is just a number. Focus on your trading process, not on the money.
If you are not disciplined, and do not have the patience with your trading process, trading the small trading account, even the big trading account will not help you.
Think about you growing up – did you try to sprint before you even learnt to walk?
Of course not.
Here is my formula for long- term forex trading success
DISCIPLINE + PATIENCE = CONSISTENCY
Once you have a proven forex trading edge,strategy, your most important piece of puzzle is the TRADING MINDSET.
Without the Discipline and Patience to follow your trading plan even the best forex trading strategy can fail. You are your own leader and responsible. You make your own decisions, no one else.
If you want to become a professional forex trader you must first focus to become the best forex trader you can be. After everything else will fall in place.
As I said, there are no shortucts in forex trading.
As my mentor said to me many years ago: »Everything is just between YOU and the MARKET. Just focus on your own trading.«
You need to invest time and energy to become a good forex trader.
Nothing is build over the night. Even the Rome was not build in one day! Brick by brick, step-by-step should be your new motto.
You can not have a one profitable trading month, and start seeking investors capital right away.
Put yourself in investors shoes…
Would you back up the trader that have been successfull on the markets only for one month, or a trader who is managing the risk well, and have steady gains for the last 12-months?
Of course, you would rather financially back up the last trader.
Thats why I recommend you to try to stop overthinking about your trading career in the future, and just focus and work on what matters – your trading skills and habits, in order to become the best version of yourself and trader.
Just give yourself a time, focus on what is important and what you can control.
Once you achieve consistency on your trading account for at least 6-12 months, everything else is possible, and new doors in the financial industry will open to you. Invest some time in your trading plan, trading journal, and learn to trade forex with the right trading skills and habits.