How to Quickly Grow Your Forex Trading Account

We all have a goal when it comes to our forex trading account.

Maybe you have a big number in your head that you are working towards. Perhaps you simply want to build from something small.

Whatever it is, growing your trading capital in an efficient and fast way is something we all would love.

Although there isn’t a single, magical method to boost your trading account to the stars, there are several areas worth paying attention to. All of them make account growth much quicker and much more efficient.

These are some of the best lessons I have learnt throughout the growth of my own account and have helped me to achieve my financial goals in only a few years.

So let’s take a look at where you can take action to grow your forex trading account quicker!

Risk-to-Reward Ratio

I am not going to beat around the bush with this article – your RR is perhaps the single most important part of growing your account in a fast and efficient way. Having a proper forex risk management framework is vital.

Your RR is the ratio between your target and your stop loss. I recommend a minimum RR of 1.5.

If a potential setup gives you a 1.3RR then it does not qualify for a trade entry. Simple as that.

Your minimum may be different; a lot of my students use 2RR as a minimum. However, I suggest you go no lower than 1.5RR

Why? Well, if you use 1 as a minimum RR that means overall you must be above a 50% win rate in order to be a profitable trader.

Now, with a 1.5RR minimum you need to have a win rate of over 40% in order to be profitable.

That extra 10% is a big deal.

For every 3 losses, you need only win 2 trades in order to cover those lost trades. This helps in one area that many traders fall into: chasing losses.

There is less pressure on your mindset to “win at all costs” and this will allow you to trade at a higher level.

Efficient trading is about being a profitable trader, not a winning trader.

Trading is about protecting your capital and with a minimum RR that you stick to, you will find your account growing much faster than if you did not.

Account Funding

When it comes to forex trading the amount of capital you can trade with has a significant impact on your profits and growth.

The more capital you have, the bigger the return you see per trade. This is because your return is a % of your account size.

So larger amounts of capital generates more capital. It’s how the rich can seemingly get richer so easily whilst the poor struggle to break through the ceiling.

Let’s say your account size is $1,000. With a return of 5% per trade, you are making $50 per win. With a $100,000 account your 5% return jumps up to $5,000.

So to grow your demo trading account quickly and efficiently you will have a much easier time if you are able to add funding to it. There are some pitfalls here though.

If you are a new trader you MUST start small when live trading. The psychological impact would be too big if you immediately started trading with all of your savings.

Instead, we recommend adding capital to your account every month. It can be a small amount, but with time this will allow you to see bigger returns and grow at a faster pace.

Think of a pension scheme. You add a small amount into your pension every month. You can treat your live forex trading account the same!

Trade Multiple Time Frames in your Forex Trading Account

You may be surprised to see “use multiple time frame” in this list at first glance, but in reality it is downright essential.

Look, we all have our preference on how to trade, what setups we prefer, what time frames we are comfortable on. But as price action traders one of our biggest strengths is our flexibility.

Not relying on indicators allows you to go to any time frame, read price action, and understand what price’s story is telling you.

Trading on multiple time frames is something that you should do if you are interested in growing your account quickly.

Take your time though – if you are new to trading then you need to learn to crawl and walk before you can run.

Why I am encouraging you to do this is for the simple reason that you will find more trade setups. Think about it – if you traded only one time frame on a pair then you are only looking at a fraction of what price action is showing you.

Learning to trade on large and small time frames will open up so many opportunities for you that you will have to start filtering great trades from good trades.

Even if you are uncertain, you should at least start checking other time frames. There is a reason why I still use a demo account every so often. It allows me to test and refine my strategy on other time frames.

If you do the same, you are opening yourself up to more trading opportunities. Take this current slow market as an example!

So many pairs are moving sideways on the large time frames. Instead of saying “No trades today, oh well”, go to the lower time frames and you will often find some exciting price action. Just take a look at the example below!

Overtrading

Now I know I just told you to look for more trading opportunities. However, there are pitfalls that traders fall into when I tell them to look for more trades and that is the issue of overtrading.

Remember when I said you would have to start sorting through great and good trades? I meant that.

You shouldn’t be taking every single potential trade that you come across. Not least for the reason of needing to have a maximum account exposure, but also because some are simply better than others.

If you overtrade you will stunt the growth of your account. We want the growth to be fast, yes, but we also need it to be efficient.

Overtrading reduces your efficiency by a significant amount if left unchecked. So in regards to our offensive and defensive approach, the first two points are offensive and this point is about your defense.

This is linked with Fear of Missing Out (FOMO) and a lot of traders struggle with it.

Accept that you will miss trades, accept that not every trade is going to net you a win.

But more importantly, work on your price action analysis skill set so that you can pick the best trade from a bunch.

Be Consistent

Last but not least, be consistent with your trading.

So many traders fall out of trading because they give up mentally and start to check their charts less and less.

Consistency is key to growing your forex trading account.

Account growth doesn’t happen from big wins and huge jumps forward. It happens from the everyday small decisions.

These accumulate to create a consistent level of progress and less of a chance for a large setback to occur.

Even if it is as small as checking your charts once a day just to stay up to date with major pairs, do it.

Growth comes with consistent time spent on your charts. It doesn’t even have to be that much per day – there’s only so much analysis you can do!

But what counts is the continuous progression. This is the glue that allows you to succeed with account growth because you stay informed and remain relevant with the current market.

358 comments

larry

June 23, 2019

i try to sign up on the web site, but i can’t. can you help?

Nick

June 23, 2019

Try using this link and see if it works
https://bullrushacademy.com/free-course/free-course-first-login/

Tom

June 27, 2019

how much money do u suggest to input into your account as a minimum?

Nick

June 28, 2019

If you can afford it I recommend people put at least $1000 in their account.

Ken

July 7, 2019

Nick,

Can I start with a minimum of $100 to $200 and grow my account from there. Then adding more capital each month?

Nick

July 7, 2019

Yes, it wont be fast but as long as you deposit monthly then you should be able to slowly grow the account.

Henry Agusi

September 10, 2019

Thanks for this great piece. It has added to my knowledge

Rey

October 13, 2019

Thank you for generously sharing FOREX trading tips..

Joseph

October 22, 2019

I love your content nick! Really changing my trades tnx

Nick

October 22, 2019

Cheers Joseph, glad it’s helping you!

M.najimamani@gmail.com

April 13, 2020

Hi sir I want to get your pdf books that you have sir

Maurice oluebube Maurice

April 13, 2020

Thanks so much for your words I think am more confident now,i’m a student from Nigeria who just started trading and have lost my capital more than two time,i will love to get more information on how to trade successfully.
Thanks

Nick

April 14, 2020

You can find the eBooks I have available near the top of my guides.

Nick

April 14, 2020

Great to hear you are gaining confidence! Keep checking out my YouTube and blog as I have been releasing a lot of free strategy and content for the current market conditions.

kevin winata

May 20, 2020

Hello i would like to grow my account for 5 years,do you think i can achieve it by 500$ with profit 15% per month?

Nick

May 26, 2020

Well Kevin, realistically you are not going to consistently hit 15% profit every month. You are going to have setbacks and some losing months – that is just normal for trading. I would say you can grow your account over 5 years absolutely, but the consistency of growth you are expecting is not 100% realistic.

makasi LB

June 13, 2020

Thanks for the advise cause I was wandering what em I doing wrong now I have realise that I was over doing it cause I would make some little profit but would agaig end up losing what I made cause I don’t want to pass any trade