Superb !! Exactly what was lingering in my mind
LOL, i really dont know how to make it simpler. You made it simpler by saying 1% instead of 2%, ?
LOLā¦
Again, risk is the same, if you follow the same plan outlined with Either/Or amount, IT DOESNT MATTER.
What Matters is how your BRAIN PERCEIVES THE ADDED zeros, Seeing fear because you have more MONEY at risk in your account.
I use a Tablet to trade. I use MT4 to chart. My tablet has everything preset per my default entry.
I can set it to the amount of % for Units traded with per trade as per balance.
So, I dont ever need to change it. 1% of your balance, will be 1% of ANY AMOUNT IN YOUR ACCOUNT.
The problem, Is this.
And I can account for this mind error, because I did it for 5 years.
THE RUSH, the need to make the most of the small account, as fast as possible, to get a bigger account, lolā¦
In trading, you can do a few things wrong that can destroy your bankroll.
- Wrong direction
- Using Max available units ( or Lots) per account availability.
- Moving stops to make the wrongs Worse.
And again, Risk is measured by preparation, not necessarily what your willing to lose.
They go hand in hand.
Start with $100, have a weekly goal. If you hit that goal, add $20 to your account, do the same following week, So production raises account balance, and also tells you, Your doing it right, on the right path, and the sky is the limit. Its like getting a raise at your [U]J[/U]ust [U]O[/U]ver [U]B[/U]roke WEEKLY!! Id do this, but I dont even have $3 extra bucks a week to spend. Heck, I just scavered pennies and nickles for a container of generic coffee for the week.
BUT CHANGE NOTHING, is the key.
So now, lets review.
THERE IS NO DIFFERENCE BUT ADDED ZEROS,
its not true. sorry. we were discussing something else aswell but the raw numbers. what you said is perfectly fine and i agree (dispite commissions as all reputable brokers have minimum commission fees which take off 5% of your trading account of 100ā¬ immediately with every trade so you have to have a r/r ratio of 1:6 only to be on brake even). the discussion was if you can start a trading career with 100ā¬ like its advertised by bucket brokers all over the world.
the simple answare is: you cant.
Francis pointed it out very good. to be a doctor you need years of studying training and hundrets of thousand dollars invested. same is for trading. not hundrets of thousands but for sure not only 100ā¬.
francis aswell took the time to outline that if you do a great month of 20% u end up having 20$ more in your pocket. which simply isnt worth it.
everybody is dreamimg of millions when it comes to trading. the math is simple in every business that exists as self enterprenuer (which you basicly are as a trader): no risk = no reward.
or people think they can open a business for 100ā¬ on which they will ne able to feed their family after 3 years of hard work put in? if there is such a business id gladly like to know about it as then id be walking around giving poor people 100ā¬ each and tell them what they should do with it.
RLT: has nothing to do with high horse ābroā has to do with experience that i know not every fight is worth to be fought and i for sure have no benefit money wise or self esteem wise or any other bebefit from proving you that you are thinking in the wrong direction. or to show you that you fell on a marketing trick which is designed by very educated people to take your money out of your pocket. so i choose to not waist my time to tipe endless textes to in the end get the answare ābut this, but that, but bla, but huhu, turbo you got no clueā. easy as that.
sorry. i paid for my knowledge more then enough. if you think i got no clue is up to you but i know nothing is for free on this world especially not time and not knowledge. so i choose wisely āwho/what to spend my time onā.
I thought this to be a very sad response. 
. I have re-read these posts and I really donāt see anything other than people trying to offer serious, genuine advice based on their own experiences. I certainly donāt have a horse, either a high one or a low one, and I do try to understand what others have written. I certainly donāt deny that I probably spew a lot of garbage and I apologise for that, but this is a forum, not a law court, and everyone should be free to express their view provided it is genuine, in the right spirit and courteous to others.
Actually,I am not sure why you are all talking about whether you can make money starting with USD100. I understood the OP to be asking whether you can trade USD100[U] without losing money[/U] - surely that is a different issue?
I am sure that, in theory, at least mathematically, one can make it starting with only 100 if, as MoneyNVRSleeps says, we trade it rigidly according to a proven method, risk/money management, etc, etc. But I am not convinced that many (if any) Newbie starting with this kind of account is [I]also [/I]going to start with a proven method, risk/money managment, etc, etc. They will be going through the same learning process like everyone does which naturally also involves losses.
Of course, RLT is right, that it is much better to blow a 100 account than a 10,000 account and, of course, a microlot type account is a good way to learn and experiment without losses of more than a few dollar - perhaps its a better way than a DEMO account (I think it is, but that is just a personal view).
But, again, I thought the OP was asking is it possible to trade a 100 [I]without [/I]losses, not which type of account is best to crash out with?
But if we are talking about growing a 100 account to something useful then I am not of the same opinion regarding percentages. It is ok to say that 2% is 2% whether the account is 100, 10000 or 1000000, but that is not (in my opinion) being realistic. As PMH says, few people are going to stay interested in trading if their annual result is, if they are lucky, a few dollars. Food, clothing, housing, costs the same to eveyone whatever your account size is and if one wants to see some tangible benefit from their trading then, once they have survived their initial learning stage, they will expect to see a return in absolute terms rather than as a percentage. Calculating account growth on a compound interest basis may look fine and fast on paper, but I doubt it works in practice. Equally, if one tries to grow 100 to 10000 in microlots then it is going to be a loooooooong journey.
Personally, I think it a shame that so many Newbies seem to more concerned with how much they can make instead of how they are going to make it. Forex has to be a deep interest for anyone to stick with it, and that interest needs to cover a whole lot more than just āhow much am I gonna makeā. It is an old, old, old phrase but: ālook after the pennies and the pounds will look after themselvesā. Question here is, does the Newbie have the tenacity, consistency, patience and many other qualities to look after the pips?
Maybe that is just a lot more garbage spewed out, if so, you have my apologies.
Manxx.
Great post Bud.
SMH, man, I trade with Oanda, they dont have a commission charge, its spread based. very fast order execution and high execution reliability, and max units are 10 MILLION or 100 lots for instant market orders. So, Im going from my experiance, with the only broker Ive ever used, with real money.
$100 business? go to Second hand store, Lawnmower, Weed eater, barrel, rake. Do a few jobs, buy a pair of hedge clippers,ā¦ Pound the pavement. Get permit if needed, Cart, Old riding mower, take off the deck, now you have transportation. Get business cards made, on internet for $20. Get personall referances from all your customers. Charge HALF what others charge. Spring cleanups and fall cleanup is the money maker. Its hard work, but will put money in your pocket.
This is from experience, Ive dont this exact thing in my younger days. Landscaping is by far the cheapest business you can start. Get up to 20 accounts weekly mowings, $20 a pop, $400 profit minus gas. NEVER CHARGE FLAT HOUR RATE, always charge per the job. But you want to be around $30 an hour, just dont say that to your customers. SO if you think it will take an hour to mow, charge them $30 for the job.
Nother?
Painting. $100 in paint supplies, ( 2 brushes, floor cloths and throw plastic, Roller and pan, butter bowl, rags, masking tape, caulking, drywall mud for holes, sanding blocks)
They pay for Paint. Same as above, job referances for more business. Focus on small quick jobs, 3 hours today, 3 hours tomorrow for 2nd coat.
Most investment is time and effort.
Iāll ask the question for you guys, okā¦
" Then how are you Broke Einstein",
Wife works, I have a 3 year old i tend to all day, 19 yr old starting college in Sept, ( Police ) 15 yr old boy that is 6ā4 and eats like a horse, I dont leave my house unettended because of crime, I dont leave my family home alone at night. They are sneaky around here, they stake you out, to catch you slipping. Just had my weed eater stolen last weekend. Broad daylight. There was a shooting EVERY single day this week, and its not even summer yet.
Everything is so dam expensive, and my wife has decent job. But I pay double elect, double gas, double garbage because I live in a flat, but use both, like a whole house, and the City wont combine the Utils till we get it rezoned.
I actually have a painting job today to do, 
and a ceiling to redo. Im a master mudder, and do ceilings very well and have a signature design for the ceilings and walls with stucko. People love it. I bang them out fast, in and out. Its just no dang time to committ to it.
WTH, how did I get here,lol
Dunno, but I am glad you did! 
That is a real message from the heart if not from the very depths of the soul itself! When someone has your kind of exposure to the realities of life and survival, then the value of a āpipā really means something - and when it means that āsomethingā then one knows instinctively how to value it and cherish it and care for it.
If you translate your āstreetā experience into trader terms then there is a whole lot of value in what you say. Even with a micro account, you are not going to throw it around just to see what happens and then shrug your shoulders if it loses 50c. You will plan and think and deliberate on exactly when and where you are going to put your money to work and know already beforehand when and where you are going to collect it back - or surrender it. That is trading whether it is one micro lot or 100 standard lots.
[I]This [/I]is exactly what I mean, [I]this [/I]is what Newbies should be thinking about, not what colour Maserati Iāll get when Iāve made my money. If one can only grasp half of the drive and tenacity in your post, be it driven by enthusiasm or desperation, then one is well on the way to being a successful trader!
Manxx, ITs ruff man, and Forex is my only way to get outta here. When you have to carry a .40 cal just to cook hotdogs on the grill or weed the garden, then its real. You know Life, its always one thing or another, and when you feel you have a leg up on life, you get hit with more sht, square in the face.
My wife took the civil service test the 7th time yesterday, just to get hired full time and not as a temp. She must be top 3 to get the job outta like 200 people veing for the spots, so she is trying her butt off. Plus they gave them the pink card, ( My wife and another lady that works there )to pass the test, or they have to let them go. She has been there for 1.3 years now. We are talking about a 35% raise. I guess its a budget thing for the state, ( Its a State Job, Housing authority)ā¦ I personally think its a cycle thing they do with temps, keep them till they deserve a hire or raise, then let them go and do it allllll over again with a new cast of characters just to save money with lower wages, you know, the American way.
She went to college for 5 years, and now, noone in the entire city does what she went to school for. Medical coding transcription for Doctors offices, now they just talk into a mic and transcode for them, great timing huh?
Then, trying to look out for your family health, not eating sugar and crap foods because everything causes cancer now, its all expensive. Its really hard to be proactive in that department with such low income.
Some dont have $1,000s to grow on. Some come to Forex to make a living, or get outta situations like mine, and some do it for time passing and a hobby. Some have dire situations, and thats the problem, TIME is running out, I must hurry, I NEED THIS, but it clouds the vision, to see the bigger picture of Time, because as time passes, time is wasted on Hurrying Time itself.
I have always traded small accounts, I cant put in more. I did with income tax, THIS IS IT, This is my time, Opps, Im an Idiot, why didnt I follow my plan? FK, SMH,
And let me tell you, Its even more complicated then what I wrote out, ā¦ Im a stressed ball of anger and frustration right now. Im 100% on tilt from the time I wake up, because some a$$ drives around the parking lot across my house with a street cleaner EVERYDAY, at 5am in the morning, then he drives at 2 mph, so it takes him 5 hours. AAAAAAAAARRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR alllllmorning long. Car sterios, BANG BANG BANG alllllll day long, all night longā¦ Motorcycles with exhaust at 140 dbs, doing 60 on a 25mph, ALLLLLL day Longgggggggg. I live almost downtown, BlockParties ALLLLL summer, everynight, Till 11pm, I hear it with Earplugs in, its that bad. Festivals, Motorcycle nights, Rib festivals, Anything with Beer involved, Its here. I HATE IT!!! And then, just a few blocks away, every night and day, Kids shooting at eachother from moving cars, shooting up cars, no care who they hit, DANG KIDSā¦ But, The Mayor and his buddies party it up just blocks away, with no care or thought of prevention for the upcoming summer shoot outs.
So, I get up in the Am at 5am, sometimes earlier, to get some work in before my 3rd old wakes and breakfast for Wife before work. . Within 30 seconds of waking up, I have to turn my 1 tablet with YouTube thunderstorms on in my office, because of the Streetcleaner Constant Hum noise. I am very sensitive to Harmonic waves sounds, Mowers, motorcycles, helicopters, Bassā¦ Ive always been like this,
So, its sounds like a constant rainforest in my house. I have speakers in my living room, dining room, Office, Bathroom, and basement that feed the thunderstormā¦
My family has a running joke, " Did you check the radar, sounds bad outside,"
Do you realize how hard it is to concentrate in this house?
But deep down inside, Im relaxed, because I have the map to a better life,
WTF, 51 dead in Miami, SMH,
Whole nother subject, goodness to god man,
Sorry for rant
Serious though your situation is, I have to admit that I laughed out loud at the thought of thunderstorms inside the house to drown out the noise from outside!
But really, I do appreciate your openness and feel for the seriousness of your situation, especially when you have a family to care for and worry about. Great that your eldest is making it to college! I really wish you every success with your forex trading.
No problem! I really hope you make it out of there!
Thanks Manxx, nerves are wrecked with him starting college, lolā¦ Its close to home tho and he is living on campus, but home on weekends. So, we are working on being vigilant and aware of his surroundings, and NEVER, trust ANYONE. Being a future law enforcement officer, its a need anywaysā¦ I actually hope he doesnt pass the physical test, and gets a desk job, lolā¦ I know it sounds bad. Ive been feeding him donuts, lol, Naaa, just kiddenā¦ about the donut part.
He is already in the City of Police Jr program, 1 year now, so he is already training with the Police department, and can do that for 2 more years, but gives him almost a foot in the door. He is 1 of 3 Cops in training in his highschool, ( just graduated this week ) So they call him āChiefā in schoolā¦ Had lunch with Mayor 2 weeks ago,has High Honors, and It starts at home. I know where my kids are, I know what they are doing at all times, and they know their mother and i dont play games. They never rode a bus or had to walk to school. Its about preparing them for the future. Being young isnt about running around acting like a dam fool, because your a kid, its about being ready to be an adult, and being a positive influence to society. This is another reason, Forex is influential so I can continue to be home, and water my seeds with pure freshness and logic and grow into something thats well mannered and NEEDED in this time of the human species.
Yeah, the Thunderstorms are funny I guess tooā¦ But Ill tell ya, it works, lolā¦ Once in awhile I change it up to waves crashing on the shore, lolā¦
Sounds like youāve got all your priorities in the right order! Great when you can be proud of your own kids, even though you worry about them night and day!
Seeing as the OP doesnāt seem too interested in adding anything I guess it is ok to drift off-topic a bit? I am just wondering how your trading experience is going. Iāve seen your posts from time to time but I donāt know what is your trading method and experience to date - how is it going so far?
And you are right in saying that mate, maybe i was a little hasty in spewing my own garbage with what i said there.
But rest a sure theres no bad blood on my behalf.
I just felt dumbstruck reading a post on how its not worth someones time to have a proper discussion about a matter, while we are as you pointed out yourself aswell members on a forum.
Just because you dont share someones views on a matter doesnt mean you should dismiss it and say hes right, only to later on say stuff like it wasnt worth my time to dig in and ive got better things to do.
That kind of defeats the purpose of being on a forum.
Different people have different views and experiences on a subject, but thats not a bad thing.
Thats what makes a forum. But i bite into these things aswell.
In the end were all human i guess.
Happy trading;)
Absolutely! and it is surely a very good thing!
Whenever the dust settles, we find that we are all actually on the same side, striving for the same ends, sharing the same emotions, experiences, achievements and failures. And yet, when it comes to the point where we āpull the triggerā and enter or exit a trade, we are totally alone, totally responsible for own results.
What we write today, no one will remember even after tomorrow. But what we [I]learn [/I]today from one another will influence us from today onwards. May we be generous and true in what we give to each other - and grateful and humble in what we receive from others. For the market itself is without sympathy, empathy, compassion, generosity or conscience. It will take from you when you are careless, casual or flippant, it will take from you when you are nƤive and inexperienced. But it will also reward you for persistence, diligence, courage and patience.
When we share, we all move foward a step. When we argue, we miss a step. That is progress, that is being human!
Thanks for your post, rlt!
Now, the How part.
First off, When you take your shower, you must tell yourself, over and over and over again, Your a Millionaire. Keep telling yourself this, anytime you have empty thoughts, repeat, āIm a Millionaireā.
I believe what is most important in starting this endeavor, is to keep a physical journal.
Start the day writing what you plan to accomplish for the day. 1 or 2 sentences are fine. Then your assumptions from your morning analysis, and how your going to do it. Keep it simple, a few sentences. Then, an end day personal analysis on your trades you made for the day. and things you think you could work on tomorrow to get better. You want to start the day reading this part, to review your thoughts, make them fresh in your mind. EVERYDAY you must do this. NO EXCEPTIONS. Believe it or not, this is the key to this journey. Being able to reflect and relive the triumph and pain of yesterday.
You have to have a plan. Outlined, wrote on paper or typed out, and laminated, so you have no excuse to fail. A checkdown layout on paper you must follow before entering the trade, that you can mark with a pencil, again, make no excuses for failure.
Make sure you Mark all news events ON YOUR CHART, vertical lines in a color you will always Use. Make this another important practice for your daily plan. Also, you can make notes on your chart, MT4, in areas that might need attention for your plan. So, You should have a Master Chart, with News, notes, and levels.
Best to do a Top down analysis, Month, week, daily, hourly, ā¦
Im not going to get into any type of strategy, this is Preparation for the day. This is the most important part of the Journey. Building a Routine, so redundant, its boring. But 20 minutes that will help you enormously by being well prepared for the Journey. What you do now, You will do always in the future. Again, redundancy that builds MIND preparation to NOT HAVE AN EXCUSE TO FAIL.
Ok, thats done, so get that plan together, go buy a notebook.
Now, How can you do it? My plan is 45% of my units per trade, I want to be right the first time, but If Im wrong by 10 pips, I add another trade. I have stops at 20 pips, and Take profit at 16 Pips. I will just outright take profit when I see something that pops out to me, or just let it roll to TP, it dependsā¦
Im fine with 4-5 pips per trade.
Goal of 5-10% a day,
So, lets say 10% a day is your goal. Sounds hard, but Im using 45%, so I need 32 pips for the day.
Week one, $161 balance end,
Week 2, $259
Week 3, $417
Week 4, $672
Week 5, $1,083
Week 6, $1,745
Week 7, $2,810
Week 8, $4,526
Week 9, $7,289
Week 10, $11,783
Week 11, $18,905
Week 12, $30,447
Week 13, $49,036
Week 14, $78,973
Week 15, $127,187
Week 16, $204,836
Thats 4 months. I know Oanda has a Max of 10,000,000 million units and By Week 17, If Im correct, you need 6,000,000 units, because the need is $625 a pip. or 60 lots for $94,000 of margin at 50/1
I probably messed that all up, lolā¦
IDK, weāll see when we get there.
Then, throw in $10,000 back in and cut out 10 weeks of time, repeat.
You guys are desperate for money. Thatās why it is running away from you.
Well this must be about the most useful and profound post I have seen to date! Thanks
Absolutly Manxx, they are the future, they are a reflection of Myself and my Wife. You water a plant with shtty water, you get a shtty plant. Simple as that.
As for my trading, I had a ruff weekā¦ Rib fest was up all week in my village, so it was 24/7 madness filled with thunderous music and motorcycles allll week, Uggggā¦
I ended up with 33% gain, 45 trades, 3 losses. wayyy to many trades, want to get it down around 6 or 7 aday. Couple things I need to get better at, but I thinkk I have fixed them for this week.
Im not just preachin to blow wind. What I outlined above, Im following myself, With Journal, and EVERYTHING I said above. This is the week I start the move. Got a few jobs lined up for Painitng, actually got a shutter paint job for next weekend lined up just today, so things looking up.
Also going to start walking in the AM when I wake up, to start the day off. Have to get my mind ready for this.
I Look to have a fantastic week, thats for sureā¦
Im going to prove this can be done,
Great week to Ya Manxx, and Others, Hope You have an abundance of Pips fall to ya this week. ,ā¦
OK, I have to go hammer out this ceiling, Talk later.
In fact, now I think about itā¦ This is a prime example of the reason why I ask myself: What am I doing here. Having traded for decades, I joined here in Aug last year as a new dimension to trading. Sometimes I have felt it to have been a good thing, but then along comes someone with puerile comments like the above and I realise this site is in an entirely different dimension to the [U]real [/U]trader worldā¦thatās it from me, I have better things to do. I wish you all the greatest of success with your trading and that you will all feel the satisfaction of a successful reward for all the effort we put into it, as I have done.
Gandalf.
1 Like
Nooo Manxx!
My goodness, do not let the trolls win!!
We need you here!
Just chime in as you do, from time to timeā¦
Your posts are SO WELL WRITTEN, and so thoughtful,
that it would be a shame if they lay forgotten in the dustbin
of historyā¦
One thing is for sure: we cannot all be here forever, and eventually#
some of us may have to let goā¦ The constant barrage of silly posts
does or can wear us long-term members downā¦ But you can just ignore
them and wait for the more interesting posts, and be content that wayā¦
I would certainly miss your presence hereā¦ :17:
Coincidentally as I became a better trader Iām spending less and less time here. Maybe thereās an inverse correlation between someoneās profitability and how much time he spends on a trading forum? I literally come here to check how the herd trades, so I can be on the other side of their trades.
Yes, they are desperate for money. If they want to make a living from 100$ or make 10% daily constantly, they are desperate for it. If you know the real trading world so well, you should know this is not how this works.
Trading is not an easy business, and it is riddled with the smartest minds on Earth. These people are looking for shortcuts and the easy money.