A bet with a friend over too much beer started all this off !  James knows that I regularly double & treble my forex trading accounts so the initial challenge was to turn $1000 to a million. It can be done as I stated in this article;

http://www.forex-fxtrader.com/compound-forex-profits.html

BUT it takes too long to get the momentum going.

The easiest way I can explain this is to think of trying to push a huge boulder up a hill. First you need to get the thing to move just a centimetre, then a metre etc until you reach the top of the hill. Once you get it going, it gets easier.

Once it reaches the top it will gain a life of its own as it flies down the other side. Finally, its own momentum will carry it forward.

Also, to be perfectly honest I would be bored rigid. In my normal forex account I am trading to make a living. Therefore for all the effort that this $1million challenge entails I really couldn’t be bothered if I was only staking 30 cents a pip.

By the end of month 1 to have only earned $300 for a lot of hard work would be demoralising.

However, the other side of the equation is that I want to show how the average main in the street, with a little money & some forex training can achieve great results. So we agreed on $2000 start up capital.

The low start amount does create problems of its own. It tends to make me more jumpy & get out of my forex trades  too early. This is because it is vital to not lose in the early stages.

Also, the problem is compounded by the fact that I need to place my main account trades first. Make sure that everything is O.K before I can go to my mini account. The result of this is that the market has often made some of the anticipated move before I have time to place the trade.

I still trade my larger account for longer & make a lot more money per pip & will do with this account once the balance reaches the $10.000/ area.

Hopefully it will inspire those of you with limited capital. Those of you with less capital need to set a target of $1000 to be able to try this.