Yes im totaly aware
so you know that you can work for prop trading firms remotely
May i ask how?
If you are interested in looking into prop trading here is some advise.
Carefully read all terms and conditions for each prop firm.
If you find a firm you like you would most likely have to pay a fee to complete a demo trading test. You must stick to the stringent conditions for the tests and reach the required profit target without exceeding the maximum drawdown.
Once you pass the test the prop firm will then set you up with a live trading account and they will have a profit sharing agreement.
As with the demo test you must continue to trade within the set rules of the prop firm otherwise they will cancel the contact with you because you breached their rules.
So long as you can be happy with the rules it would be a possible way for you to begin.
I would say trying to save 100$/200$ then start with that. There is some difference between demo and real trading. So investing 1K is not a good idea. If you are good enough you can make profit with 100$/200$. With 100$ get accustomed to live trading. If you can make 100$ into 300$ by opening maximum .01 lot. Collecting funds will be easier for you then.
Please don’t think I’m being negative towards your dream to become a great trader but why can’t you save the money you need from a job?
Hi! I do not have a job tbh! Otherwise i would do the same
Well, I already took that for granted. But having a job demonstrates something about your personality, dependability and perseverance. You might also save enough money to finance your own account. But even if you can only save half the amount you need, the job of raising the remainder is now half done and only half as difficult. Making this kind of effort could convince some members of your family that you would be someone they really should invest in.
Trading using a loan, I won’t suggest that.
It is good that you are passionate about trading and confident too, but I would suggest you to first find another income source, do some savings and then give it a shot in forex with your own money. Good luck
Hi! In glad to inform you that my mother has agreed to give me some money! Thankyou for your time! I hope i get the same results on my real acc aswell! I have An account with pepperstone now the only concern i have is withdraws like what if i do make money and then they dont send me my money, this is my mom’s money and i have promised her that i will resturn this and i know i will be able to make that much but the only negative thought i have is about pepperstone not sending me my earned money
You can always start with a micro or cent account and trade like that to prove to your family you can deal with real money, even if the sum is tiny. After that, gradually begin to increase it.
Congratulations! Did she give you the full $1,000?
You have to be very careful with that money. Forex money is like a spirit, once it is gone, it is gone. I think you should do another business with that money and deposit the profit into Forex, at least you’ll then have multiple source of income. people who trade Forex do that with money they can afford to lose, this will remove desperation and emotions. You don’t have a live trading experience from what you said, so be very careful.
In the Forex trading business we need to be prepared for getting the losses also as like with the profits. If the mindset is correct then we would be able to get a good income also.
If you are confident enough to make money, you can take loans from banks or your relatives. After making a good platform you can return the loan and make a good career in this market.
Why don’t you start with just $100 and make it grow to a grand!?
Okay, from asking in the forum to your mom suddenly agreeing to loan you the sum - that escalated quickly. Anyway, I hope you use that amount wisely and keep us updated. All the best.
try to convince your family
It would be great if you can practice demo trading. This will help you take advantage of the market.
if you are so sure you can apply for the loan. people can help you only when they know you personally.