How to Grow a Small Trading Account Into Something Much Bigger


Awards 2013

Episode 178 is one of those episodes where your host, Rob Booker, delves into a topic that you’ve probably been waiting to hear about: How to Grow a Small Trading Account Into Something Much Bigger. A must-listen episode — for sure. To help Rob with this discussion, we have special guest Bradley Fried, the CEO of Rob Booker Japan.

So, here’s the premise: Rob has been getting more and more questions lately from newer traders or those who recently took a break from their trading. And one question keeps coming up:

I’m starting with a smaller account, but I heard you need at least $50,000 to $100,000 in order to trade for a living… so, how am I supposed to do this, if I’m starting with a small account?

Brad and Rob offer some great discussion to address this question. Brad talks about making your trading more of a process — and how process is a mental posture against the problem of using the market and trying to get profit from it. Rob and Brad also talk about the role of fear in trading (and where it comes from). All of this and so much more is available for you in Episode 178.

And by the way, you can support the podcast by checking out an upcoming trading course on “How to Grow a Small Account Into Something Big,” offered by Bradley Fried and Rob Booker.


Player Rob Booker

Education feed

Editors’ Picks

EUR/USD pressured below 1.1900 amid virus concerns, USD rebound

EUR/USD is trading under pressure below 1.1900 amid US dollar rebound. A softer risk tone, Powell’s upbeat comments extend support to the greenback. ECB Panetta's remarks kept the euro bulls on the defensive and capped gains.

EUR/USD News

GBP/USD falls toward 1.3650 amid stronger USD, risk-off mood

GBP/USD pair is extending losses toward 1.3650, as the US dollar recovers ground across the board amid risk-aversion. Worries about the AstraZeneca covid vaccine and unrest in Northern Ireland further weigh on the spot.

GBP/USD News

USD/JPY flirts with session lows, around mid-109.00s

A softer risk tone benefitted the safe-haven JPY and exerted some pressure on USD/JPY. The ongoing decline in the US bond yields further contributed to the intraday selling bias. A modest pickup in the USD demand should help limit any deeper losses, at least for now.

USD/JPY News

Editors’ Picks

EUR/USD pressured below 1.1900 amid virus concerns, USD rebound

EUR/USD is trading under pressure below 1.1900 amid US dollar rebound. A softer risk tone, Powell’s upbeat comments extend support to the greenback. ECB Panetta's remarks kept the euro bulls on the defensive and capped gains.

EUR/USD News

GBP/USD falls toward 1.3650 amid stronger USD, risk-off mood

GBP/USD pair is extending losses toward 1.3650, as the US dollar recovers ground across the board amid risk-aversion. Worries about the AstraZeneca covid vaccine and unrest in Northern Ireland further weigh on the spot.

GBP/USD News

$1,730 holds the key for XAU/USD bulls amid a modest USD strength

A modest pickup in the USD demand exerted pressure on gold for the second straight session. The risk-off mood, softer US bond yields extended some support and might help limit losses.

Gold News

Dogecoin pauses before continuing 35% ascent

Dogecoin breached an ascending triangle pattern on April 11, triggering a bull run. DOGE spiked nearly 17% in a single candle on the 12-hour chart hitting $0.080. Now, a retracement to the immediate support level at $0.071 seems likely before it starts to climb again.

Read more

S&P 500 Week Ahead: Bears hibernate as records keep getting smashed, earnings season awaits

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology