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It’s the honest truth that most startups in the trading industry dream of having a 100k in their trading accounts some dream of 10k and in my Geo location some even dream of 1k trading account. (that’s 1000 us dollars)
Un employment is at the peak and youth are desperate to making money fast.
Bills are piling up, Debt is chewing up most families, an average college student graduates with almost 15M shillings in debt and knows nothing about practical entrepreneurship.
Everybody got a college degree with amazing grades ready to compete in the Job market but only to find out their hundreds of thousands like him who needs the same Job. This is really a difficult position to be in.
Panic and rage start to fuel up, everyone wants an immediate solution to solve their problems. In short, they want to make quick money Fast.
They all forget that making fast money in trading is almost to impossible and can be cost full dragging you and your finances all the way down into the ground.
Now the title of this episode says HOW TO MAKE YOUR FIRST $1000 CAPITAL.
And just to inform you these principles work to get whatever capital you need in your trading account. PATIENCE, DISCIPLINE AND DEVOTION are the key things to monitor to eventually excel in this route.
You know, I been lucky to make $1000 multiple times in the course of three years and trust me these principles work. Some of my students have done so and am going to leave the links on the description of this podcast and see for yourself.
You can have 1k, 10k, 100k and even a million if you have the muscle. It’s all simple but the higher you get the tougher it becomes hence more patience and discipline is required. Its all about the levels My Brother.
In the end, it’s you, Yes you! You are the one sabotaging your trading career. The human brain is always programmed to hit the limits and that’s it. You get dopamine shot and you feel happy. But to do the impossible requires pushing your brain off the limits. You must get out your comfort zone and feel embarrassed because the human brain is not wired to be uncomfortable. The brain will do whatever it takes to please its master.
Unlocking your limits will need you to trick your brain.
There are 2 ways to make your first $1000-dollar capital.
- Conservative Route
- Aggressive Route
Now though the aggressive route may seem the easiest and fast trust me it’s the longest and has no guarantee. They say the greater the risk the greater the reward, but this phrase is no longer applicable in this business anymore. You can easily lose all your hard-earned income just like that, In a flip flop. This route leaves room for no mistake and we are dealing with new traders here. They really make a ton of mistakes. I would not suggest this to any startup.
- As for the conservative route, you need discipline, patience and devotion. The pace is slow, but a lot can change in 3,6 and 12 months.
So, let’s say most of you start at 100$ where most people can afford. But If you literally can’t afford a hundred bucks, then I suggest you find a job and save. Trading is designed for people who have money. Don’t fool around and waste your valuable time. Trading would require you a minimum capital of 2500 bucks to accommodate your lifestyle.
So, while you are thinking of resting when you get to 1000 bucks, I am telling you the journey has just started and you have to repeat the whole process one and ½ times. Just to get to the recommended capital.
Basically, the conservative route will require you to top up your capital from 10 to 50% every month while trading the available balance.
Each open position will have a maximum exposure of 5% and not more. With a reward of 10:1 That means any winner will land a profit of 50%. So, depending on the win ratio of your strategy let’s say 50%.
Meaning out of 10 trades, 5 will lose and the remaining 5 will each provide a profit of 50%.
That’s a 250% return on investment apart from the initial investment.
Now Your balance is 250 bucks.
You also manage to top up 10-50% each month. This means roughly in three months your balance will be around 500$ or more depending on your top-up capabilities.
So, you keep repeating the process at least 2 times and BANG you have your 1000 dollars and that’s is even less than 6 months.
Folks I would choose this against the aggressive route if I was a newbie and if my win ratio is above 80%
This is how you grow your money consistently. YOU need money to make money. And not some Bullshit promises from a newbie mentor that you can make incredible amounts of returns within a short period of time especially from 100 bucks. It’s not possible unless you get lucky and how many times have you got lucky before going back to square one.
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Raymond is a professional currency trader with experience of 4 years trading the financial markets. Certified Risk Manager and Contributor at profxtigers.com
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