Like what if that’s all I will ever have? $200? Without using high leverage, is it still worth spending a ton of time trying to learn how to trade?
I know some people are trying to learn how to trade in hopes that they can put in more money (that they have) once they learn how to trade. Some people I know don’t really intend to make a significant amount of money from trading and just want to learn it as part of their hobbies.
But what about for someone who literally just wants to plop in $300 MAX for like 3 years or something. Will they get far with that?
No, you’ll not get very far. Unless you gamble and get lucky. Best advice is to learn to trade FX properly and proficiently over a six month period, then use your $200 to buy into:
Using any sum of money in a trading account is a worthwhile exercise but only if it has the potential to double the account in a foreseeable period. I would suggest 1 year.
The best way to use your skills and limited capital is then to avoid withdrawing any money from the account but to compound your account total and double it again. And keep doubling it.
I would like to say No. Well, if I were a student, had hours each day, were young, it would be a yes. But learn patience first, then go trading … you will be working hours just to make … a big icecream - not even one for your girlfriend…
It is still worth it because you can become a copy trader for Zulutrade or another copy trader platform and make money having traders copy your trades.
$ 200 is very reasonable if we start trading after learning, But for this, we have to follow the money management college And you have to growing your account slowly And small leverage is always friendly for a trader, I think maximum leverage is enemy of trader
It’s perfectly fine. In fact, reduce it to $100. Practice first, make sure you have a winning strategy and can adapt to changing market conditions, and then go live with $100. If you can’t grow a small amount, you can’t grow a large amount.
Sounds like you’re advertising for the “blow your account” company. If you can’t grow a small amount, you can’t grow a large amount. The only difference is that with a 50K account, you have more time to blow it, but you’ll eventually blow it.
Since you’ll be gambling anyway, you should stick to a small amount so the pain is manageable.
I started with 350 and told myself I wouldn’t add or take anything away for a year. I added that 350 last July and my account is now at 1149.
I think the most important thing is risk management. My account made it up to 1350 but then I let my arrogance get the better of me, over risked, and lost 200 over the course of 2 weeks.
Start on demo. Learn as much as you can. There’s a lot of fluff on sites and YT but if you’re good at picking through that fluff, even the fluff has bits and pieces that are helpful. I’m still learning… it’s a constant process.
I was going to start withdrawing/adding when I hit a year of live trading. Now I’m going to wait until(and if) I can hit 2,500.
Note: I’m not trying to get rich overnight or pull in thousands every month. I’m playing the long game. If I have enough capital in my account to just make an extra two or three hundred a month… that’s fine by me.
small accounts are actually not worth it cause first of all it’s hard to apply your risk & money management to them! 2nd it’s not worth it not in forex! maybe buy and hold some cryptocurrencies for a while triple it and then start trading that money , 3th it depends where u from! for example where i’m from , $200 can pay your all your expenses for 2 months! so yeah in that case it’s worth it
What if you consider the $200 as a tution fee of sorts? Like an amount you’d set aside for books or any kind of educational material. Surely the lessons you’ll learn from trading the $200 will be worth a lot more for you in the long run and benefit you much later when you’re able to invest more.
Some anecdotes from folks who claim to be successful traders suggest they had to overcome a few personal demons and work hard to be better people, on the road to becoming better traders. If they are to be believed then $200 is a small price to pay even if you bust I believe. Especially if you have a love or passion for trading.
There is nothing wrong with starting forex trading with such a micro amount as $200. As a matter of fact, it is better you start with a small amount, learn and get perfect before risking jumbo figures. If you believe in the axiom “Practice makes perfect”, then you will apply the Start Small rule. Forex trading requires a quantum of education which is better learnt by trading on your own. Yes, you will make mistakes, most probably burn or blow the small account, but the lesson from that experience will be as precious as gem stones. So, if you become good in the process and learn more of money/risk management, you will go far in forex trading.
Ok I like this reply-- very realistic and I like how you’re showing numbers and time frame. My question now is, what’s the long term plan? Keep all the profits in this trading account? Is there a number you’re looking at where you’re like “oh ok I can withdraw now” or maybe like transfer the money to a different “investment” vehicle?
