Building a small account up.

 

In today's blog I am talking about building a small account up as this is one of the many question's I get ask often.

So today I going to talk about how I build my account from $500.00 I know when you have little money to trade with you wonder if you ever build it up to the guru that you follow and admirer. 

Before we go into how my small account grows there are a few thing's you need to do. You need to research for a broker that is best for you a broker that's good for me does not mean it be good for you so do your research on brokers you also need to study Tim's video's on chart pattens and info on the Penny stock's which you can get on You Tube for free you can also read info on Timothysykes.com                                                                     other links that will help you in your trading carrier are how to understand candles  https://www.youtube.com/watch?v=BMML856Sf_Y&list=PLh77VbTZaer03McaYT-cZ3QQn41HG-SNx&index=1     and it will help you if you understand indicators which you might use in your trading hhtp;//www.babypips.com     if you go to babypips.com and click on the tab that say's school you can learn a lot the web site is for people wanting to learn about Forex and it's free but you can use them in trading stock's too. You also need to understand about Tax/IRS depending on which country you live in I understand that there are two forms of IRS in US depending on how long you hold your trades concerning stock one is 15% while the other is 35% so check this up too. And finialy make two list one with the rules concerning trading and keep it by your computer the other list should be your short term goals and long term goals short term goals could be anything from 1 month - 6 months and long term goals could be from 1 year - 3 years concerning your short term goals lets say you want a holiday with your family or friends or even a new car get pictures of the holiday or car that you want keep one copy by your computer one on the fridge and another by your bed to remind you why you are trading and to make sure you do not gamble with your money.

Now to get down to how to build a small account which I call the Russian Bear System 3.

First you need to work out how much your trade will cost you but with most brokers I think the minimum is $4.95 then you have to work out the commission you have to pay per trade lets say $20.00 plus then you have to choose the a mount of share you going to buy in my experience the minimum is 100 shares because anything lower than 100 shares will be eaten up in commissions so we now know we need to make each trading day $124.95 so for week 1 - week 4 we need to clear each week $624.75 now we know each day will be 124.95 but some day's we will earn more while other days we will earn less. The maximum trades per day is 3 trades only if we win the first two trades we close our computer why do we not trade the 3rd time because after 2 trades most beginners/Newbies start to trade on emotions and not what the market is telling us so by only trading twice we keep our profit if we lose the first trade win the 2nd & 3rd trade we close the computers and if we lose all 3 trades we close our computers this will happen but not very often by trading only maximum of 3 times it will give you high % just like my profile shows you. At the beginning you may think your account is not growing fast but one day you be surprised how quick your account is growing I personally do not worry about the money in my account because I worry about keeping my % between 76% - 82% if it stays like that I know it will take care of the money for me so aim to keep your % high and not worry about how much you are making or how much someone else is making.

I hope this blog will help you in your business as a trader and I am alway's happy to help you in anyway I can so feel free to contact me.

This is written by The Russian Bear and are my own views always remember you can lose more than you invested and never gamble with money you cannot afford to lose.