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Originally Posted by sci4me Hello all. I'm new to trading but I'm very interested and want to learn and find out if it's something I could be good at. I'm wondering if it would even be worth trying to start day trading with only $200 (with $4.95 commission on each trade). If I had to guess, honestly, I'd guess that it would be next to impossible to make a profit with such a small investment. Should I even try with this amount of money or, if not, how much should I have in my account before I start trading? |
Try spread betting, trade demo for a short period then move to real money and you will find it becomes a different game altogether.
You will almost certainly blow up your first account, if you start with £500 and trade to make say 20 per day it makes it real, if you screw up you only loose £500, you can blow it 2 or three times and will learn a hell of a lot in the meantime. If you double it then you just may be on your way....
I have a friend who started with 70K, he blew it in three months, fortunately 70k whilst painful for him wasn't the end of the world, but when you have a 70k account you are not interested in making £100..... Fact is he didnt know what he was doing and its an expensive environment to learn a new set of skills in..
Trading Demo other than in the very early stages is a waste of time thi IMO
Good luck
Chalky |