competition

wwatson1 said:
I have been making good % gains month on month in my Forex trading account for just over a year, but because I have a very modest size account I was looking at ways to speed up my earnings rather than wait 3 or 4 years to build account up to a ££ amount that would give me a full time wage, for example £40-50k trading capital.

What would be the best way forward?
More...
Perhaps (near)optimal position sizing will help.

A New Kelly Formula
 
Found this old post of yours:

"Your trading to much size, u should be risking only 1-5% of your capital on any given trade"

But what if the math says your optimal position size is closer to 10%? Or higher? Then that's just money you're leaving on the table, dude.

Leverage is dangerous. Using (near)optimal position size is merely prudent.
 
wwatson1 said:
I have been making good % gains month on month in my Forex trading account for just over a year, but because I have a very modest size account I was looking at ways to speed up my earnings rather than wait 3 or 4 years to build account up to a ££ amount that would give me a full time wage, for example £40-50k trading capital.

What would be the best way forward?
More...

As stated by someone else...patience is all you need.

Another solution is get a job during your none trading hours and then use that income to plug back into available trading capital. Also, you can sell high value items (e.g. eBay) you can go without for awhile and then use the funds to increase your trading capital.

The latter above someone here at ET did just that and raised and additional £10k.
 
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