The TRUTH About Growing Your Trading Account & Trading for a Living! 🌱
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- Опубликовано: 20 сен 2024
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The truth about account growth. Can you make a living out of forex trading? What about trading of stocks or indices...etc? What's the best way to grow a small trading account? Is it possible to profit consistently in trading? How do you trade for a living? How much do I need to invest in a trading account to actually make money? Do people really make money from trading? OK.
These are my thoughts on trading for account growth. This is how your grow a trading account to a decent size when you're trying to make a living as a day trader. Let's say someone has taken a GBP10,000 account and they've grown it to GBP30,000. So now we have 30k to trade with. Assume a trader is going to make 100% a year on his money - some will make more, others will make less. Can I really make money with Trading/Forex?
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Compounding is a seriously powerful phenomenon. Currently teaching for my bread and butter but starting to look like I know what I'm doing now and getting results. Grew 5k to 18k and now looking to do just what you've said - hopefully have a large enough account size in 5 years to go down to part time teaching. For me, trading is bringing in more money than a house appreciation ever could, which is why I'm still off the property ladder.
I feel compelled to say thank you for this. There are too many people advocating the rewards and the lifestyle of trading but this channel is consistently realistic about trading and I think hammers home that it isn't all "lambo" stuff.
Sigh.. I appreciate your videos and I am a subscriber. What you said in this video is something I have known for a little while. I've been sticking to the 3% to 5% allocation rule and I feel like I am just spinning the hamster wheel. There have been many times I have known the setup was a good one but I have refused to violate my risk management policy. Fortunately, I have a job so my income doesn't depend on my trading. But the goal is to be able to trade full-time. The days I have taken time off from work and have been able to focus on the market, I have always made quite a bit more than I normally would have. I have been through just about every scenario, the good, the bad and the ugly so the experience is under the belt. The only thing I haven't experienced is blowing up my account. I know that I will not be able to trade full-time if I don't start putting more skin in the game. This video reaffirms what I already know. Again, thanks.
Well u can trade and stay in south east asia the cost of living is lower
Good to see someone from the Uk making good video that are easy to understand and straightforward advice👍🏻👍🏻
If somebody had not grasped this concept on his own before seeing the video he has no business trading
The answer is to trade other peoples money, if you can prove 100% consistent returns they'll chase you on the street trying to get in. Forget the hobby level and treat it as a busniess.
Is it just me doubling my account every 4-5 weeks?
Work full/part time while starting, and grow your account. Put at least one year’s money in the bank before quitting your day job.
Love the honesty here. It all makes sense.
really interesting topic. i thought about growing my account by taking a percentage of profit. but i realize that withdrawing in the early stages has a huge effect on the future. it's probably best not to withdraw anything at all until your account is a decent size
I wish you offered a seminar for traders to learn your knowledge in person. I’ve watched all your videos, some of them repeatedly. But listening to your words in person would be the icing on the cake.
There are a couple of ways to grow your account be very consistently profitable and 1) use compounding or 2) sign up for a hedge fund. No magic. Just 100's and 100's of good trades...
Appreciate the honesty. Never heard anyone talking about growing an account like this. Looking forward to the follow-up video
Hi Mark!
What you said was actually motivating! I have started with a very small account and have blown it a couple of times but now I am trading very carefully and based on rules I have defined for me.
Thanks for the great contents!
Don’t go buying lambos like the kids off Instagram when you make your first £150k😂😂😂 gutted I was thinking of that that too!
Honest and authentic. Great video
Well done Mark!...Not a video all will like , but a video all future successful traders will remember and benefit from.
If you're not making 10-30% a month on average, you're probably doing something wrong. Read that again.
Great video. Really great insight on the business side of the trading. Those who are serious in the business understand the depth and value of such topics. Looking forward to the follow up video.
great clip. you can push the throttle down after you have accumulated a number of wins with smaller bets without risking your initial capital. build some profit with smaller % bets. for eg risk your textbook 1 or 2 % and build it up to lets say 20%. Wait for the perfect setup/s and go in with two 10% bets or all in with a 20% bet relative to your account size. They wont all work but when it does your account will grow rapidly.
It's not a bet, it's a trade.
This was a really interesting video!! Personally I have a strategy that seems to be working but I still need to do a lot of backtesting for the markets I trade to have full confidence in it but I haven’t taken the jump to use my full account size as I lost 4% in a week recently with an old strategy and then I realised I need to take a step back and reanalyse. But now it’s as if I don’t feel ready to go back in and earn the profits I deserve!! Interesting way the mind works😂
*Fearlessly forward @mryan7771 !*
Thankfully now we have prop firms and this is no longer an issue
Excellent content as usual! Keep up the good work!
Hi I am a big fan but don’t you think 100% is on the high side
I have been learning from you most of this year, but I am in crypto currency bot trading. My plan was to grow my account to a point where I can start using the gains. When you use leverage do you risk more than the amount of your trade? If I find an edge, I might try leverage trading in crypto, but believe the stock market is easier since the market closes daily and has a daily cycle.
Man that was so good. You are making such high value content. I absolutely love your videos. You think of such great things to share to help us. Truly appreciate what u do for me 👏 Thank you 🙂
Risk 5-8% on every trade with 1:4 RRR..aim 25% winrate...but you must have a good trading plan only use price action .no indicators here
Another thought provoking video. Made sense to me!
Another option is to save your money and have a nice decent size financial buffer before you commit to trading full-time. I saved, squeezed my pennies and had about 2 years of savings before I commited to Trading full-time which in hindsight was ideal as I could still pay my way in life and enjoy a minimalist lifestyle, while grinding up my trading account without the added pressure of; "I NEED TO TRADE SO I CAN PAY THIS BILL!!!". This in my opinion is one of the best if not THE best methods of entry into Trading full-time for a living
leverage... one MUST know the expected max drawdown of their strategy and multiply it by two, as safety ; and only THEN think of a reasonable leverage ; trading with 20x when your expected drawdown is 10% is going to make you rekt very fast
this video hit me really hard. thanks!
Don't go into debt for sake of trading and you will do just fine over time
one must be careful when applying this to their practices. we can't never impose our will to the market. a trader must know when to throttle down as well as when to lift the throttle up. when it is good, increase the risk appetite, when it is bad, cut it as soon as possible and stay away from the market until you have reset your composure. lovely vid as usual.
So True! Love this video Mark!
Most do this in the start and its more that they cant buy 100 million shares all at once in a stock when they have a bigger amount of money to trade with, cuz it will move the price when they do it. But when you dont have a big amount of money, you can risk a bit more.. if you are comfortable with it. But then of course most people arent. Which is why most people just dont trade in the stockmarket.
Some people claim that you should treat it as a business. Sure, maybe. But even in business you will make better decisions cuz you can actually effect the price of what ever you do. In the market you have no say in it. It either goes up or it goes down. You can try to control it with taking profits and so on but one day you will have a red day and if you risk all of your capital, you will get the gains wiped out real quick.
In other words believe in yourself ....much respect.
This is right on the money Mark, thanks.
Why dont get copy trading and somone can copy your trading or work for prop firm.
Working part time should be able to get 10,000 quid makes you draw-down less. London is probably expensive so it may be hard to cut living expenses. If you can get down to 25,000 for two years or so the draw-down is now only 15,000 not 30,000. So if you take 30 up to 60 and then draw down 15,000 you start year two with 45,000. And now you have a shot. Something I may have missed in your presentation. If you were working when you start with 30,000. Trading the first year while working full time would get you to 60,000 before any draw down. Then working six months more would get you to say 90,000 before the first drawdown. Then working part time the first draw down is from 90,000 and it might only be 10,000. You have to grind for 18 months and then grind a little less for 6 months. But you have 80,000 and your odds of success are far better. Just a quick thought. Really should ideally make a monthly or quarterly cash flow projection. Even with my 18 month ease-in plan. Like I said, just my thought.
Outstanding videos on this channel, trading is a lonely road. This is where I can find people who share my thoughts.
Lots of pressure when you are relying solely on trading as source of income. There's a saying "don't put all your eggs in 1 basket." The key to becoming a successful trader from My Perspective is to have multiple streams of income while you trade. Your mind will be more free and clear when you're trading because you are not STRESSED about money.
How about consistently adding money to your account from your paycheck as you learn?
Thats another way to do it. Keep your risk management in check and add money from other sources to your account until its big enough
This is gold!
I lost 130k chasing 10k just shooting for the moon and never came back down until I crashed.
Not a very practical situation in the video. It takes a long time to become a good trader. But, with eminis, 100% a year or much higher is possible or more. Regardless, once one gets to be successful, and gets to 100% a year level or better. It is a very valuable skill and can be marketed to attract money. Getting to 100% a year or 10% a month consistently is the hardest part. After that it is all math
Had to google the word throttle. Thanks Mark!
Great video mate appreciate the honesty
I love these videos. And this guy looks like Jim for the office
You can increase size year 2 per trade
Good video. If you start as a novice you need a job and you trade on the side. Once you have a strategy tested and working then it becomes a business
Is not the best way to grow a small account just putting the whole size of your account on each trade and only risking 1% per trade tops?? does that make any sense??
thank u. I needed this!
200k provides alot of income how much should be in a forex account is a challenging issue unless it's new money. Good to hear if there is a way to do it without blowing up an account.
Love the lambo part hahha
99.999% of us watching won't make 100% profit year on year.
Great video Mark !
Great video Mark, very true discussion
Or get or keep your job while you trade. Drawing down your account to live on, early on is silly.
Great video. Totally spot on
Say you're a professional trader and a couple of hours regularly goes by without getting in on a trade and you're using a 5min time frame. Would you start to consider, I wonder, changing your strategy or upping your stake level as you do in this video?
Thank you . ! Great video
Good presentation
Another great video. Very interesting !!
trade for retirement. keep working because its a steady payment, keep trading for another source of income. if you are any good your plan will succeed.
trading for a living its not feasible for most people, you need to be very very good.
thank you for this video
very informative :)
Thank you Mark
What was spreadbetting like before these newer regulations? 200 Pound per point now would cost so much!
Agreed for this situation
awesome video as always..
Some people say Day Trading is a scam, what are your thoughts on that? I know many people who only swing, OR collect premium. Although the premium makers can do 100% a year, theyre not making much to live off of imo. You can make 100% selling options on a $1000 account to make $2000 EOY. OR one can day trade to flip that and grow it way more...
Check ruclips.net/user/ukspreadbettingsearch?query=is+day+trading+a+scam
Quess you forgot taxes
I live in portugal, minimum wage is 650€ ..if i can make 1.000€ per month just in trading il quit my job ..how much do i need to start trading?
I'm seeing stars, just rocked my brain. Could not be closer to the truth, hey what about another video in which you suggested do a 50/50 split on the profits?
Can i deposit more money and put it to my account?
Nice vid 💥🧨
Thanks
I had a part time job that paid 70k a year and I had all day to trade and did quite well.. I now have a full time job and my trading has suffered
if you had a part time job that pays $70k a year, you should be living quite comfortably on just your salary. given you had time to trade well ie build a nest egg that's under your full control instead of making a boss rich, may i ask why you took the leap to a full time job?
Professional traders get more leverage, what qualifys a person as a pro ?
Well the ESMA rules say:
To go pro, you must satisfy at least two of three criteria:
- Have you traded, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters?
- Have you an investment portfolio (cash deposits and financial instruments), which exceeds €500,000 (or equivalent)?
- Have you worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged?
Great video, very thought-provoking content.
As an alternative and notwithstanding your relationship with CoreSpreads Australia, there are brokers who will pay money for attracting followers.
Your scenario details a person who trades successfully but needs supplementary income for day-to-day expenses.
In such a case this trader should be persuaded to build a business on a platform that will pay a commission to him/her based on the amount followers’ stake when copying their trades.
I believe the figure to be two percent paid monthly.
I have purposely withheld the name of the broker mainly out of courtesy but in the knowledge that the spreads offered on the site are poor when compared to CoreSpreads.
Regardless if you can make the spreads work then there is a way of adding to your income without adding significantly to the risk per trade.
Marks advice is the bees knees.
WHEN LAMBO?!
Hi, would you recommend using a trader and what return % would be realistic on say 200K
I wouldn't recommend anyone to trade for you because no one cares about your money as much as you! Don't trust anyone on the internet! For me making 20% to 30% on 200k at the end of the year would be a good target. Generally, the bigger the returns, the bigger the risks.
very bad idea. more risk also means blowing up your account faster. better solution is to take out a loan. if you can 2x your money every year you can pay off the relatively tiny interest.
Lol that was uncomfortable video but truth.
Why not just get really good at trading and apply for a trading prop firm and get capital to trade from?
Eeesh! promoting leverage!!! mmm not for me!
What is a decent amount size?
*1% say most pro traders, some do 2-5% but if you lose a few times, you will be rekt unfortunately.*
sound like you trying too hard to go against leverage
Wow this is bad advice.
Dude you need to pause when speaking, and there's no structure when you talk and stop halfway through a sentence and talk about something else, then go back to original sentence
This guy keeps laboring on a simple concept for way too long
😒🤣😨🤯😡😡😱😠😰
Thanks