competition

Thanks for all the feedback, I run a small business so already have a full time job, I'm putting a little away weekly to build my account and I like the idea of selling extra things on eBay, I think in a few years I could be in a better position and some extra investment might come along with a long track record

 

I'm not sure how this got changed to "competition"

A good percent per month to me is 1%, perhaps more.

My suggestion, build your bank with that full time job, add funds.
Draw up a chart showing 1% (or X%) gains per month over many years
Learn power of compound interest.

 

It's the wrong title, was a mistake and couldn't edit it. I've been doing about 5-10% a month, and yes im adding a small amount of my wages but I do have bills to pay so its a slow process :-|

 

5% a month, I'd take that starting with $100.

 

Seems a bit odd to me.

If you can make 10% pcm consistently, you'd have no issues growing the account and increasing size, Youd have no issues getting outside funding. Youd have no issues in having to save money from an outside job etc.

Unless of course your account is one of these $500 ones like the guy who said he was down to his last $150.

 

Hi speculate, I am growing account but have only been consistent for about 13 months and yes it was a £500 account that is over £1000 now but that took over a year of aggressive leverage trading and stressful drawdowns so I would like to be a little more conservative meaning require 10 to 20 times capital at least.

And I'm not going to get funding with a 13 month track record

 

Well well done for getting that far.

Id argue that 13 months is enough (maybe not if raising money for a hedge fund, but youre obviously some way off that!). The only issue you will have though is that $500 isnt a realistic account base. I understand everyone has to start some where though.

One issue I'd have is that you're clearly trading retail FX. Thats not really 'trading' given the broker tricks that go on.

If I were you, Id take a look at the topsteptrader site and do one of their combines. You'll be trading futures (so you can keep with FX) on a demo account, but they'll fund you apparently if you pass their criteria. Futures shouldnt be an issue for you given youre still making one way bets on a linear price structure - its probably your risk/trade management thats giving your results rather than your ability to 'pick winners'

Ive never traded with, or for topstep and neither do I know anyone who has. I think there are some reviews on this site somewhere. Maybe there are other online funding outfits out there now.

 

Thanks speculate I've just signed up for the topstep trader on your recommendation, but you need to use ninja trader platform and they don't have a mobile app for placing trades?!!

 

And you have to pay for it?!!

 

@nursebee I thought the same thing as you mentioned. I'm a big believer on compounding and most times when I run the numbers for someone, they go back and forth trying to correct something as they just can't believe or understand that power of compounding.

I ran the numbers here based on the info. provided by @wwatson1 and this is an instance where getting a hold of some money may be a better option as compounding benefits only glimmer as time progresses.

With running his numbers, at the 5 year mark he will only have £38k and that may be a disservice for someone that can bring consistent returns.

@wwatson1 if you're very confident that you can get these returns, you can take a loan against your mortgage, a fully paid off car etc. and build your account up.