Thanks for this thread, i am currently in the same situation.
i once took my account from 1.5k to 25k in two months ( market was favorable )
then lost most of it again in a few trades .
having undercapitalised made me take risks i never should have taken in the first place.
would have been a lot better to make 5k-8k from that 1.5k that year.
hopefully i have improved from blowing up my account a couple of times.
major lesson : always keep track of your risk first.
I concur with those that say start small and get confident with your edge and then scale up. I suggest that going from a small account and busting it and then attributing that to undercapitalisation is not a good foundation to then trading a large account where you are not 'undercapitalised'. With that trajectory, how confident can you be in your edge? And how have you prepared yourself for trading well with size - ie are you psychologically prepared?
This is 3 months work: Part time trading forex micro account.
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I get depressed by how easily people are satisfied, with so little argument.
The following user says Thank You to Linds for this post:
Good thread. The main point i took from it is that you do not need to have a large account value to be a good trader, but you do need to have a large bank account if you want to efficiently trade for a living.
The following 2 users say Thank You to Bermudan Option for this post:
Awesome thread, after recently blowing up my account, I have decided to cut back on expenses and put the savings into the account. Currently sim trading M6E and 6E, until I can stock the account to a comfortably level. (10k+ to start live trading M6E.)
I also agree with using funds that are not needed, pressure to make money will cause you to lose it all. As Al brooks says the first goal is to follow rules/plan, second is to not lose money and the third is to make some money.
The following 4 users say Thank You to tturner86 for this post: