Can you trade with a $100 account?
Today I want to talk about a question that I received quite a bit and also the question that I had in my early days of trading as well and that is can you make money on a small account so I started my first account with just a hundred dollars and a lot of people wonder 00 US dollars a lot of people wonder could I do that could I actually just take this little bit of money.
And then grow it and actually make money off of it and the answer is a little bit complicated so first of all I think the short answer is yes you can grow and make money off a small account but you're going to make small amounts of money so my first account that $00 account was basically just me experimenting.
And trying to figure out what I was doing I think I account I stopped using it and close it out with like 50 cents of profit after two months to make very much money is half of one percent of the total account value but the lessons that I learned were I mean I just learned a ton that was when I first decided maybe discretionary trading isn't for me I'll look at automated systems.
Because I'm not sure that I want to do things the way that I'm doing them and so I think a lot of people ask this question and what they're really asking is can I turn out very small account into a really big account quickly listen maybe you can I have no idea that's not what I do is that's not what this channel is about so I'm not going to speak to that.
Because I have no idea um but you can still make you know regular gains on a small account it's tricky because if you can't get small position sizes and you have to take out a lot of risk and you risk losing that money so the minimum that I have traded in an automated fashion through mt4 has been I think of 500 or a thousand dollar account.
Because I couldn't at least if I remember correctly I wasn't able to take tray sizes smaller than a micro lot and once your account is very small you know you have to take very small tray sizes if you want you know keep yourself out of trouble I think so yeah it kind of depends on how you're going to trade but when I was doing discretionary trading.
And I end up that little hundred otter account I could take like even smaller than microbots like eco lots or whatever you maybe you would call them like you know a hundred units basically just little tiny traits and that taught me a lot about what I was doing so in short yes you can use a small account and you're going to hopefully learn a lot and you don't stand to you know risk a lot which is really nice but are you going to grow that into like a huge account I don't know but you know if I can make a few percentage points every month I'm pretty happy so that's it for me today and we will hopefully talk to you all next week