The problem of trading is that to make money, you need money.
It is a percentage game and even if you are able to make a brilliant 10% per month, 10%
of $1,000 is still $100 and you can't certainly live with $100 per month.
So how to grow a small Forex Trading account?
All the tricks in this video, so let's start!
Hello everyone, welcome back to my channel.
This is Federico Sellitti, Forex Trader since 2007 and Udemy instructor since 2017.
In this video, I'm going to give you some tips to grow a small Forex Trading account.
I've been there because I didn't start with a lot of money my Forex journey and I was
wondering every time "how can I become a full time trader?
How can I grow a small Forex account?".
At the beginning, I have to say that it was more about experimenting and learning things,
but, at one point of my life, I started to notice that I was being consistent, having
profit every single month.
So I said "what to do now?
I'm trading with just €1000", probably it was just a bit more than €1000.
Of course I couldn't live with €1000, I couldn't live off Forex Trading with such
a small amount.
And I started to have the same question that I'm trying to answer now in this video: "how
can I grow such a small Forex Trading account?".
Probably the best thing to do, especially if you already have a job, is to keep your
job and start your journey as a part-time Forex trader.
This also allows you to save money from your fixed income, from your job and dedicate a
small part of this amount to your Forex trading account.
This is also what I did, I started my Forex trading career at 17, it was 2007, and I became
a full-time trader in 2013, I was 23 at that time, but from 17 to 23, I always worked.
I had several jobs and they helped me a lot to build the trading capital that I had when
I was 23.
And this is also what I suggest you, because Forex Trading is a new business, there's no
guarantee that is going to be a success, so you don't really want to leave your job and
jump on Forex Trading right away.
So my suggestion is: keep your job and start your journey as a part time trader.
Now, I understand that I have been lucky because I fell in love with Forex Trading when I was
very young and this allowed me to save most of my money, most of the money that I got
from my previous job, because I didn't need to provide for my family, I didn't have any
kind of financial commitment, so I could just save all the money that I got from my previous
job and put into my trading account, so I've been very lucky, this helped me to speed up
the process and build the necessary capital to become a full-time Forex Trader.
But, if you don't have this chance, I also want to show you, just saving $100 per month
from your current job, this makes a huge difference and I have prepared an Excel file to show
how you can save your money, save only $100 per month and how you can become a full-time
trader following this plan.
So let me open the Excel file here and you can see that in the first column, I have "time".
So first month, second month and so go on like this.
And then, second column we have "trading balance".
I assume a trading balance of $1000 to start, so if you have more, if you have less, you
can adjust it according to your availability.
And then we have monthly savings, I'm just assuming that you can save $100 per month
and then the profit %. I assumed a profit percentage of 3% per month.
Now, you can see that, following this plan, it took me 6 years to become a full-time trader,
following this plan after 6 years, you pass from $1000 to almost $33,000 and the most
important thing is that 3% of $33,000 is almost $1000 per month.
So you start to have a very important second income from your Forex Trading activity.
And probably, continuing like this, it will take another year to become a full-time trader
and to build the necessary capital to be a full-time Forex Trader.
So, I would say around 7 years.
Now, you can understand that it can't be the same for all the people because we are different.
You probably want to risk more than I do and so, probably you will have a better profit
%, better than 3%.
Or maybe you want to risk less and you will struggle to have a 3% per month.
Or maybe, you can start with a trading balance of $3000 instead of $1000, and you can see
that, starting with $3000, will save you more than one year of time.
Or maybe you can save more than $100, or maybe you can't save $100, you can save less.
So all the people, all the traders are different and you can't say "it will take me 7 years
to become a full-time trader and build the necessary capital to live off Forex Trading.
It is different from trader to trader.
With this Excel file, I only want to show you that it will not take one week, it will
not take one month, it will probably take years.
Then a second method, a second trick that I wanted to suggest you is to manage other
people's money and you have many chances here.
I want to start mentioning the PAMM account, that is Percent Allocation Management Module.
Simply, it is being an account manager.
So you can trade other people's money.
How to do that?
If you want to open a PAMM account, you probably will need to have a statement, so you need
to have a track record of a previous trading account that shows that you can make money
on the market.
If you can do something like this, it will be very easy, you can just ask to your broker
to open a PAMM account and you can trade other people's money directly from your platform,
that in this case it the MetaTrader 4.
At the beginning, it will not be easy to draw the attention of other investors.
So, if you have a very good history, if you have years of records of your trades and you
can show your trades to other people of the previous years, you can open a website or
you can create, for example, a Facebook page, or you can just draw the attention through
the Forum on your broker or through other Forex Trading forums.
And about the broker, it's not very important.
Here I opened Pepperstone because I remembered that Pepperstone allows you to open a PAMM
account, but there are so many other brokers that allow you to open a PAMM account.
So, if you have a very good strategy, you can manage other's people money and get a
percentage.
Now, if you have a PAMM account, it may differ.
It's not always the same percentage, you can decide this with your clients, you can decide
this with your broker and also the conditions of your trading account can be decided together
with your customers and with your broker.
Now we also have something called social trading and I want to show you Ayondo and Darwinex.
The first one is Ayondo.
I don't particularly like it and, first of all, I want to explain you what is social
trading and then explain you why I don't like Ayondo.
Social trading is when you jsut trade normally your account and other people can access your
statistics, so they can see your profit percentage, your drawdown and many other statistics.
Then they can decide to follow you and dedicate part of their trading account to follow your
trades.
So, you will earn a percentage on this.
Now, I want to show you why I don't like Ayondo.
Because Ayondo pays the traders, the money managers for the volume that they can generate,
not for the profit that they can make.
So if an investor decide to follow a trader, this trader will not get paid for the profit
that he can generate for him and for the investor that is following him, but he will get paid
a commission for the volume that he generates and this totally changes everything because
it means that the trader, to get paid the commission, doesn't necessarily need to have
a profit, the most important thing is that he trades with a lot of money and this changes
everything and it's not very good for the investors who are following this trader.
And I want to show you something, let's click on Social Trading and I want to show you a
top trader that I was following months ago.
He's called MrDachs and you can see his performance here.
You can see that, at the beginning, he didn't have any follower and he was doing just great.
He was making about 94% in a bit more than one year.
then he started to have many followers because he was doing just great and he realized that
he was making a lot of money just opening his positions.
The more he could open, the more he could get.
And so, probably he realized "why should I trade normally with like 1 mini-lot, 2 mini-lots
and try to get a profit, when I can get hundreds of dollars per every single day when I open
4-5 lots per day".
So probably he started to focus more on the volume that he could generate than on the
profit that he could make and his performance went dramatically down and now is about sideways.
So I don't really like Ayondo for this, but Darwinex is totally different.
Here you can open an account, traders and investors can decide to follow you and you
will get a percentage on the profits that you can make.
So only if you make money, you can earn money from other people investing in your account.
So let me go to the platform to show you something.
First of all I want to say to you that you will get 20% on the profit that you can generate
from the money that you are managing.
So here, there is a section called "under the radar".
It is about traders that are doing quite well, but they don't have a huge amount of money
that they are managing.
For example, this one has almost $100,000... well, for me it is a lot of money, but they
probably don't count it as a very huge amount of money.
And then we have the all of Fame, I want to show you something here.
For example, this guy is earning a lot of money, because he's doing just great.
He has this strategy that is making a lot of money he has other strategies here. and
only with this strategy, he's managing $1,400,000.
So, if you get 20% from the performance that you can get with this amount of money, I can
assure you that is a lot of money.
Let's say that is $1,500,000, you get 20% of it, so it is $300,000.
Let's say that you can make 3% per month, so 3% of $300,000 is $9,000.
So you get an additional $9,000 per each month, just managing other people's money.
So you have your trading account, you still have your trading account.
So you can make money with your trading account, but you also manage other people's money.
So you are earning from your profits, other people are earning because they are investing
in you and you are generating a profit even for them, and even Darwinex earns something,
because, when an account is doing great, Darwinex usually decides to ivnest part of their money
into your trading account.
So they also invest their own money into your trading account.
So everyone is earning here on this platform, if you are doing a great job.
Of course, if you have a good strategy and you think that you can be profitable on the
market, I think that Darwinex can be a very good idea because you can earn more money
that what you do trading alone.
Other people will be happy because they can earn money from you and Darwinex is happy
as well, so it's a win-win for everyone.
So this is another way that you can follow to grow a small trading account and I want
to mention the last one, that is Udemy.
Well, I say Udemy, but you can try something different.
For example, when I was 22, I think, not really sure, but I think I was 22 or 21, I don't
remember, I was totally focused on my Forex Trading career and someone offered me a job
to write for a financial magazine.
Now, when I went there, I needed to show my statement and my performance, it was the first
question.
I remember I went there and they asked me "do you have a statement that you can show
me?
Do you have a track record that you can show me with your performance as a trader?".
I also remember that happened a very funny thing because they wanted me to log into my
trading account from their computer and I said immediately "no, I'm not gonna do this.
If you want, I can show you from my mobile phone with my internet connection", because
I'm always so scared of hackers and stuff like this.
But anyway, if you don't have a track record because you're starting now your Forex trading
career, you can try with something different from a financial job like financial writer
or in a bank, you can try something like Udemy.
I believe that even if you don't have a track record, even if you don't have a long history
of Forex Trading, if you have a strategy that you want to share with other people, why not
on Udemy or on another website?
It is a win-win because I'm getting something from you and you are getting money, so you
can put this amount of money to your trading balance and start to grow that balance and
start to build your career as a full time trader.
I know that many people say "I don't really trust that trader.
He's been trading for just 6 months, he doesn't have any proof that he is a successful trader".
I honestly don't agree with that, because I'm buying a strategy, I'm buying a system,
I'm buying something that I can get from you.
I'm not buying any proof that you are a multi-millionaire trader and, honestly, I don't even care about
it.
If I can get something from your strategy, even just one small tip that I can implement
in my own strategy, it's a win for me.
So, if you want to try this way, I think that you can also try to share your strategy with
other people and earn a kind of second income that you can put in your trading balance.
Now, a couple of things that I want to clarify from what I have said so far.
I'm not getting any kind of commission from what I am recommending in this video.
I recommend Darwinex and not Ayondo because I simply believe that it is better, but you
will not find any link to Darwinex in the description, you will not find any link here
in the video.
I recommend Darwinex just because I think it's better, I'm not getting any commission.
And you can also check their policy, they don't even have a reward when you refer a
friend, so I'm not getting anything.
I'm not even getting anything from Udemy.
Actually, probably I will lose money from Udemy, because when a new instructor is teaching
the same topic, is more competition for me.
So probably I will also lose money from recommending you to start sharing your own strategy on
Udemy.
So I'm not getting absolutely anything from it.
And another thing that I wanted to clarify is that I started teaching on Udemy in 2017
and I have been a full-time trader since 2013, so Udemy didn't contribute at all to build
my balance, my capital to be a full-time Forex Trader, but I'm recommending it because I
can undestand it may help you because, right now, at the moment, with my courses on Udemy,
I'm not earning much money, I'm earning a decent amount of money that I'm putting in
my savings account with my bank, but you can put this amount of money into your trading
balance, so it may work out very well for you.
So these were my ways to grow a small Forex Trading account.
I want to leave you with two questions.
The first one is: which one do you think that you can adopt to grow your small Forex Trading
account?
And the second question is: do you have other tips, other strategies that you think that
may work to grow a small Forex Trading account?
Let me know in the comments below.
As always, I appreciate your time and, if you can take 5 seconds to click the like button
and subscribe to the channel, you know that I would be very very happy about it.
This is Federico Sellitti and this video was about growing a small Forex Trading account.
Thank you very much for watching, I'm super happy that you're here and I wish you good
luck for your Forex Trading career.
I'll see you in the next video.





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