Down to £100.....let's do this

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dgtrading

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I am a 19 year old student who has recently had half of his equity consumed by the market due to several poor hasty decisions and risks. I know £100 is a measly sum to trade with, but the same ideas apply. Trading only stocks at the moment (sometimes gold). Usually on the daily charts.

My rules:
- Always trade with the trend
- Enter on the pullback/ or if a valid price signal appears
- Make sure strong resistance is not close
- Don't try to pick tops and bottoms

Starting equity £100 as of today 5/3/15 including assets:

80 RR (bought on the pullback of the uptrend) SL 9.2704 TP 9.7226
-1Gold (entering the down trend, poor late entry but price is acting favourably). SL 1210.10 TP 1190.99

5/3/15 entries

+7 Heineken due to bullish pin bar SL 69.35 TP 72.04
+5 BMW due to bullish pin bar SL 110.32 TP 116.86

any criticisms of my trades are welcome
 
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£100/200 isn't measly for the purposes of learning. You'll learn far more with real money as opposed to trading a virtual account. So, take this opportunity of trying to make that remaining £100 last as long as you can in order to learn about yourself and the markets. The likelihood is; you're going to blow up a few small accounts before you're in a position to actually start compounding profitable trading results. However, by the time you're in this position, you might have come into some money from a different source (inheritance, savings, lottery win), at which point you can then apply your honed abilities, learnt on previous small accounts, to your larger capital base. Take a long term view; probability speaking, time is on your side .
 
yes i completely agree; that is the mindset i possess. Hopefully I can expand my capital gradually as i minimise the losses from stupid trades, and apply it to larger funds when the time comes.
 
dgtrading said:
closed RR with a result of +£24.61

equity currently stands at £116
Click to expand...

What you need to do with that sum is to make sure that you are with a dealer who will allow trading at 50 pence per point, a spread of 1 point and low margin. That gives you more bang for your buck. You may find lower spreads but, if your trade is successful, you will soon make that up. The price per point must be your main concern at this stage.

You'll have to get used to making less profit per trade, I'm afraid, but stay with it and Good Luck.
 
Splitlink said:
What you need to do with that sum is to make sure that you are with a dealer who will allow trading at 50 pence per point, a spread of 1 point and low margin. That gives you more bang for your buck. You may find lower spreads but, if your trade is successful, you will soon make that up. The price per point must be your main concern at this stage.

You'll have to get used to making less profit per trade, I'm afraid, but stay with it and Good Luck.
Click to expand...

Ah when i stated the result of the RR trade it seemed misleading, I entered the trade about a week ago and the value of the trade as of this morning contributed to my £100 equity if that makes sense. It had gone into profit before today.

In regards to my broker, I use Trading212. The spread for RR is 2 pence with an entry fee of £1.50 and exit fee of £1.50. I don't find the fees too bad.
 
Splitlink said:
What you need to do with that sum is to make sure that you are with a dealer who will allow trading at 50 pence per point, a spread of 1 point and low margin. That gives you more bang for your buck. You may find lower spreads but, if your trade is successful, you will soon make that up. The price per point must be your main concern at this stage.

You'll have to get used to making less profit per trade, I'm afraid, but stay with it and Good Luck.
Click to expand...

lots of brokers offer micro lot trading. it will be as a cfd rather than a spreadbet but that shouldn't make any difference to your main priority which should be to see if your system works and you can make a little money.

you'll be able to trade FX from about 7p per point.
 
thanks for the support people.

any advice on this:

Airbus is on my watch list, looking to enter on the pullback, strong up trend. debating to enter when it pulls back to the 56.24 level or to wait until it meets the trend line (through 30thDec to 24thfeb). I have a feeling waiting for the trend line would be a higher probability trade.

BMW, RR and Airbus are stocks i trade/watch. should i cut engineering trades back incase of industry shocks? They are all in strong up trends
 
£100 is plenty my friend, at one points of time I blown my account and was left with only £30 . I was able to turn £30 into £20,000 in 25 days....

You need very high concentration, be focused on method rather than money .....
 
Jessi_trader said:
£100 is plenty my friend, at one points of time I blown my account and was left with only £30 . I was able to turn £30 into £20,000 in 25 days....

You need very high concentration, be focused on method rather than money .....
Click to expand...

£20,000? Is that all?? Chicken feed...
 
I noticed Heineken and RR closed significantly above my TP, might be worth testing higher take profits.

Thinking of buying 10 ADS when the price dips down to 70 level, according to the 4hr chart. possible stop loss 69.18 take profit 72.64

any thoughts
 
Jessi_trader said:
£100 is plenty my friend, at one points of time I blown my account and was left with only £30 . I was able to turn £30 into £20,000 in 25 days....

You need very high concentration, be focused on method rather than money .....
Click to expand...

well that would be nice, sounds difficult though
 
I tend to agree with Jess, it doesn't matter about the account size at this moment in time as long as you learn and progress.....Can't comment on the stocks you look at as i don't trade them, but interesting to see how you go on.

Regards Shane.
 

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