Looking to trade part time from home ?
 

Hey guys

Basically I'm 19 and not in the best job I earn round a bout £1000 per month if I'm lucky , basically I've always been interested in being a trader ever since I was little so what I'm looking to do is invest about a quarter of my monthly income.

I have a bonus from work of around 500 this month then I'm looking to invest a further 250 per month into my pot, I have no rent to pay atm and no outgoings other than taxis to and from work. What I'm looking to get out of trading is to learn it grow my pot and eventually do it full time from home.

Just got a few questions ?

In your opinions what would be the best thing to trade for a newbie? Forex, futures etc ?
Is my 500 start up enough as I'm looking to start on a small scale learn then invest more ?

Any help would be much appreciated and I am grateful for any response

Thanks in advance :)

Re: Looking to trade part time from home ?
 

Probably best to cut your teeth on index's. Ftse-Dow etc which you can trade or adjust positions around work times. It's important to stay working as well...gives you options and keeps you grounded.

With a 500 quid pot i'd say SB where you can deal in 10p -50p / point. Look for the relationships between the index's and whatever you do, keep stake sizes to the absolute minimum. At this stage, and probably for a long time, you should not concentrate on the monetary gain aspect of trading, but care more about the exposure and lessons learned via experience. Write things down as they happen, which you can then reflect upon later. This will help you on your trading journey.

Re: Looking to trade part time from home ?
 

Hey Hendy,
Looks like we're in a similar situation.
I'm 22 and just graduated from uni and decided to try trading from home.
I'm currently trading using the money that I've managed to save since I was your age, whilst working a night job to support myself during the first few years during which I wont be taking money from the fund.
Advicewise I can only suggest that you try to learn as much as possible from as many different sources and keep what works for you whilst discarding what doesn't. There is alot of rubbish out there but also alot of people who genuinely know what they are talking about.
Too much knowledge can be dangerous if you don't know what to do with it but if your smart and know how to separate the good from the bad you can do well. Keep saving and working at it.
Keep us updated on your trades (good and bad). Would be great to know how things are progressing

Re: Looking to trade part time from home ?
 

Starting small is a VERY good idea. You're going to make mistakes - probably loads of them - as you learn, so might as well keep the damage to a minimum during that process. Keeping putting the money aside as you plan, but don't put it in the market until you've established a pattern of consistent successful performance.

As for markets, futures is out because of your low capitalization. Spreadbetting is an option. So is forex if you go with a broker who allows for micro lot (or smaller) position sizes.

Re: Looking to trade part time from home ?
 

Trade energy, gas and oil after work. They are very volatile and are open in the evening. As you will be at home consider using stops to enter trades. This levels the playing field with the robots.

Re: Looking to trade part time from home ?
 

What makes you say gas and oil mate ?

Re: Looking to trade part time from home ?
 

6 months later how is your trading? Are you trading?
I'd have suggested trading Options an ETF due to the low start up, as it just means small profits.

Re: Looking to trade part time from home ?
 

last activity of the OP was Jan 9, so I don't think you will get an answer lloydbee