That’s the exact problem. Nobody wants to have a go at this to make a few dollars a week/month. It’s not worth the time investment. People do this aspiring to be rich, so will want to be doubling that amount in days or weeks. That’s only possible by placing big bets and hoping you get lucky. You need to be doing that for quite a while to make the captial large enough to place relatively small bets that are profitable enough to bring in money that really pays for things. You aren’t going to be lucky enough times to not wipe that account out, at least not for 99% of people.
You can in theory one thing you’ll need is to find a broker with a low deposit requirement like XM or Hugosway.
I would however suggest a 6 month period of demo trading and if you can increase your pot as you go along to help build your account
There is no obstacle! Actually, small trading capital always a good choice to start with! But, if you are expecting any healthy return then $100 is not good enough!
I couldn’t agree more, that’s a fair capital to start especially for newbies. All they need is to practice more on demo, guide against greed, learn to be patient and of course look for a regulated broker with good minimum deposit and a usable welcome bonus.
I remember starting off with $15 with forexchief because I was extremely scared and nervous. But it got better since there was the 100% welcome bonus they offered, and I gradually grew from there.
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$100 is fine. It’s like demo trading with a slight bit of “frisson” to inject a tiny bit of adrenaline into the proceedings. Wish I’d stepped up to a £100 account after finishing with demo trading - would have saved myself alot of heart-ache. Instead I jumper straight in with £25K…
See the thread Is 25% a month possible
Treadswithbenefits did it!
Ok, so I’ve learned from other threads what to say - Yes! Absolutely! 25% per month is definitely possible. However, the next month you might lose 30%.
$100 is possible but you cant expect massive profit unless you straight up gamble with it. It will take time to build up from $100. I would also suggest trading on micro/cent account to minimise your risk.
You can start with any amount you feel comfortable with. Currently, I’m trading with around 3k, but I too started with just $10 with turnkey forex. So, it doesn’t matter if you trade $10 or $100, just make sure to follow the right process to grow your trading account.
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Its possible to start with $100 but very few people have the stamina to trade with such a small capital amount without taking excessive risks.
Measure your trading in terms of per cent, not dollars.
Maybe you are trading with only $100 because that $100 to you is a fortune. But let’s say you make $6 profit in Month 1 1 you will have made six bucks. That’s probably going to make you feel sick that you put in all that time and energy and work and stress and saved up a fortune just to make six bucks.
But those $6 are 6% and 6% is much more important than $6. If you can make 6% a month you will double your money in 1 year. If you can keep doing what you are doing, you are going to be wealthy.
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Really good post, the small gains rarely entice anyone and then they over leverage and overtrade. It’s not the amount that gets them its the mentality
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petezaa, it depends on performance no? yea so its a subjective question. for you it may not be worth it, but for someone with a better system than you it may be. unless you think you define the limits and whats possible. none of us are the main character
Best reply I’ve seen here. A dedicated newbie who isn’t only drawn to the markets by the greed of making a lot of money could use this. Set aside about 1 month to educate yourself (theoretically) about the markets. Proceed to back-test a strategy on a demo account( blow it to $10k) and run it for about 3 months so as to adapt and tweak it to your style. In that time (about 100+ days) even saving $1/day you’d have enough to buy a funded account with My Forex Funds (a prop firm that allows skilled traders to use its funds to trade and make a profit after passing a challenge) . My guess is if you actually invested your time and dedicated it to honing your skills, you’d pass the challenge since you’re already used to trading the $10k a/c and it would be a great stepping stone for any newbie in the trading journey. Wishing y’all the best and to bagging more pips.
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Of course, $100 is more than enough for a newbie to start. Especially when you can add bonuses, but don’t be greedy.