Small Account Challenge Part 5 50$. How to trade small account Forex FAST Trading Strategy and Indicator to grow a Small Trading Account Fast and Easy.
So, what happened to the small account challenge? Did I blow up my account, or did I make money again. Actually, I did make money last week. I started this challenge on 30th march, So It’s been a couple of weeks.
This 50 dollar small account, is now up by almost 40 percent. That’s right! I was able to gain another 20 percent in the last week. Before I show you the trades I took in the last few days, I want to answer two questions about this small account challenge. Number 1. Why I didn’t post the results of this challenge in the last week. And Number 2. Why there are the words “stock market” in the title of this small account challenge series. Lets start with the second question. Since part 1 of this challenge series, the words “stock market” were in the title of these videos. Is it not wrong to put stock market in the video title, when I only traded Forex?
I added stock market in the title, because I was going to take trades in the stock market. Since I started this challenge with 50 dollars, trading stocks was little expensive. I could not keep my risk per trade under 2 percent. So I traded Forex. My plan was to grow this small account safely with Forex. Once I make a small profit, I will use that profit as a buffer while trading stocks. In simple words, If I had traded stocks from the start, there was a high chance that I would have blown up my account, since I would had to risk around 5 percent per trade.
So, instead of risking my original amount, my plan was to risk the profit, and create a buffer. That way, even if I lose few trades at the beginning, I will only lose the profit, and not my invested amount.
And that’s what I did last week. In last four episodes of this small account challenge, you saw this account grow by around 20 percent. In the last week, I took one trade on USD JPY, and made another 2 percent profit.
These small account kind of videos are supposed to be fun, entertaining, and educational at the same time. Once I created enough buffer by trading Forex, I took some trades in the Stock market. The first trade was on Netflix. I lost this one. Trade direction was right, but got in a little bit early. Like I said, I created the 20 percent buffer, for this reason. When I lost the first trade on Netflix, I only lost some of my profit, I didn’t lose anything from the amount I started with.
Next trade was a small winner. Third trade ended up break even. But 4th trade was a very good winner. It was on Netflix again. Same trade direction as the last Netflix trade, but this one made a profit.
There is a reason why I was risking more on the Netflix stock. I didn’t randomly picked this stock. The reason I picked Netflix, is because of the Fundamentals. That’s right. Because of the current Pandemic, most companies are not making a good profit. Most people are stuck at home with Nothing much to do. Now, Netflix is a video streaming service, you already know that. If everyone is sitting at home, there is a high chance that they will have time to watch Netflix. People who didn’t had a Netflix Subscription before, will think about getting a Netflix account, because there is not much to do at home. In other words, Netflix will gain a lot of new subscribers. In other words, Netflix stocks can go up!
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