How much money do I need to start trading?

there are professional trader train new people that do not know anything about trading, at the end those trainee can achieve almost similar result compare to pros.

Ref : Interview with top trader books
 
everyonerich said:
there are professional trader train new people that do not know anything about trading, at the end those trainee can achieve almost similar result compare to pros.

Ref : Interview with top trader books
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I think it's better to take your time and learn every step on your own.
It's the hardest way, but also one of the best.
I'm not a big fan of all those workshops/guru's who have "made" it.
 
Interesting, that thread - or at least the beginning before it tailed off into a testosterone contest.

There was an old broker at the place where I used to work who said that traders who become millionaires generally went bust twice before they made it.

That's what I'm basing my current strategy on! :O

Seriously though, regarding that poll and this thread too, there is a simple correlation between risk and reward, so if you need to make more reward because your starting capital is less, you're more likely to blow up.
 
Absolutely Adam.

I'm only saying this because DD went public with that, so that's ok, and because it's just simply terrifically inspiring, but he turned very little into 40 mill.

It CAN be done, with simple and straight forward strategies.
 
I don't like that video... The markets are complex enough as it is without giving everything a new name! For example, why does he have to say the traders are the fuel and the market is the engine and the fuel affects the engine... Why doesn't he just say that the traders affect the market?! Why make things more complicated. I'm sure the guys at Goldman Sachs don't walk around talking about fuel and engines and money machines and all that BS. They call it what it is...

Sam.
 
ciguli said:
First to say, I am a total beginner watching Online Trading Academy DVDs to get educated and inspired. What is the minimum amount of money to start day trading? I live in a poor country so 200-300 $ a month in profit would be great to me!
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you can easily make $300 a month playing online poker with no upfront investment.

I have done it myself many times.

the same is not true of the stock market, when you start out if you can make 1 or 2% in a month your doing very good, so your probably going to need between $10,000 and $20,000 that's what I would need anyway.
 
its a not a huge amount for learning to trader stock, futures and forex. I think we can invest 500@ to 1000$ monthly and can earn 1000$ to 2000$ monthly by best traders and investors. They also conducts free seminars for introducing trading and employment opportunities for traders.
 
Yea demo accounts are a good way of practicing but seriously when its your money youl do things totally different . If your spreadbetting then start at £1 a point just for the first few months, your not risking much but your still getting the feel of how to read the markets and test your entry and exit stratergies
 
ciguli said:
Oh my god... 25k $ requirement... It's definitely a richmen's game for someone from Croatia

I need five years to save that amount of money
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You don't have to close out all your positions everyday. Also you should not daytrade using 4 times your account's buying power if you're a beginner ! Look for longer term trends, those which can well last at least 2-3 weeks.
 
TraderRod said:
Being in E. Europe you should be able to open a spreadbetting account in UK and your 2k-3k should give you the profit target that you have in mind per month, considering you practise your craft really well indeed:

Pick up an instrument like the "Dow Jones" and make all your practise work on that one only - keep watching every move this instrument makes for many months b4 you commit yourself with real money. I would stay away from Forex altogher if I were you!

For the good measure an experienced trader should make between $100-200 per day with the money you mentioned.

Some of the stuff on my blog may help give you further insight into trading:

The CFD Traders

Good luck and let us know how you've got on.
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There is no way in hell you can make on average 100-200 with just 2000-3000. That is basically 5%-10% per day. In one month that is 100% your initial deposit. If you are risking that much you will be wiped out within no time.
 
From small from $1 or $5: Forex4you and HotForex
- $25-$50 Exness and FxCM
- $500 FxPro
- thousand, US bank brokers....
 
Actualy I can invest up to $500 so initial deposit is not a problem with me. I only care does my money growth up after trading or it will fly away...
 
Even 5$. But if you consider trading as serious business your deposit should be calculated basing on your leverage and lot parameters. I would recommend 1:100, 4 lot 1000$ deposit.
 
Even 5$. But if you consider trading as serious business your deposit should be calculated basing on your leverage and lot parameters. I would recommend 1:100, 4 lot 1000$ deposit.
 
Scholorship even though you are new to trading, looking at your money that you are going to probably loose as an education shows maturity. Believe the statistics, out of the millions who have attempted to make a living off the markets over the last hundred years few speculators make it over the long term. Consider this a college education will cost 20k x 4 years conservatively, 100k. You get 25000 a year to trade for 4 years,once you loose it your done. Time to prepare for next year. In four years you may very well find something. Worst case scenario you got to trade for four years. My advice if I were advising myself. Take small amounts of money, give yourself a year. Once you loose it prepare for next year. I believed I could figure something out in about 5 years, it took me over twenty years to discover something that works. Trading real money is the best education your gonna get. Give yourself the opportunity to make many mistakes, Do not think your first time your going to make it. So you dont get discouraged and panic remember you got 4 years of education. Start small and learn and study and observe and think. Then in for years you will have graduated, realistically I wish I would have thought of that many years ago, This might help you look at the markets in a different way. " An edge in trading is an exploitable statistical advantage based on market behavior that is likely to repeat in the future", some title said that. There are many vehicles to drive, and many arenas to trade. Remember the market is out to cause the most pain and pleasure to as many as possible. I'm in concrete construction and my motto is you ain't working hard enough if you ain't bleeding a little bit somewhere.
 
Sorry what ever you can scrape together to get your education is going to be your down payment on your education. You are going to have to work outside of trading while you are trading. You are going to have to continue paying your education as you go. So does everyone else who goes to school. Don't sit in front of the computer all day. Have a back up plan also. Seriously have a back up plan. If trading does not work out I can make money doing this. You can always trade if you have a source of income other than trading. Good trading
 
No vendor here. The most you wil hear about my trading method has already been said. I'm here because it is butt ass cold outside and I'm bored. But I figured I could maybe help some look at trading for what it is, hard work. I have been in the concrete const. Industry for 30years, that ain't easy either. If you are a glutton for punishment and persistent and use your brain someday some people get lucky and find something useful. The most usefull thing I will promote is, if everyone is looking at the same data it is what you do with it that can give you the edge you need to make money Long Term. You have to have a statistically sound model that is hedged to your chosen risk parameters. Your wins have to be more than your losses, I will say this. If I was a vendor I would be trying to convince everyone to BUY options on futures , that is where the real money is. Just kidding
 
snow boy said:
I guess that depend on the broker you are using in particular, and depend on the leverage you would like to use that determine the margin requirement needed. But I will advice you to invest the capital you can afford to lose because forex carry a lot risk.
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I take it you are not English and wanted to say, "Invest the money you cannot afford to lose and only trade with money you can afford to lose?"
 
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