Hi, I am an intermediate trader into this field, and I have been a trader for 3 years give or take. Well, recently I am feeling quite confident about earning money out of it but do not have that much in my pocket right now to invest. So here I am looking for some suggestions.
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I suggest all posters tell you to sell your snake oil elsewhere.
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Make sure that whatever amount you have in your account, you don’t need to withdraw any capital for living expenses. This means you benefit from compound growth until your profits are routinely equivalent to a full annual average salary. And I do mean a salary, not the wealth of Bezos or Buffett.
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Suggestions for what? Get more money?
Or trading what you have?
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Why don’t we talk clearly here?
How much cash you have right now you can afford to loose?
Which country are you trading from?
This is the least information needed to make a recommendation IMO
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Sorry I missed mentioning that I want a recommendation of a prop firm. recently I have been searching for some, and ftmo e8 myforexfund adn fundednext is coming up in front. These firms do more marketing than it seems. What do you think? I am looking for traders who actually are trading with them.
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Having a considerable capital is very important in trading, no matter which broker you choose, focus on that first, while using every resource there is to LEARN and Demo trade, then when you have min. 500$ or more and when you are confident enough go for it. Until then do whatever you can to save money and learn trading.
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Prop firms are a short term solution to help you build capital in my opinion. Of them if I were to use one I’d probably go with FTMO as they have been around longer and haven’t read anything suggesting they don’t pay out.
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yes I am quite confident…maybe…I passed MMF one challenge with good profit and wasting near four months and when i was about to get my real account, they hold my account and not responding. that is why I believe with this hard rules from a prop firm, if I can survive and make a good profit, I should go for a good one.
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Well i have been trying to contact with them, and thought to start as well. but my colleagues are with them and they suggested me not to and explore some firms else. Is e8Funding or Fundednext are their suggestion.but both are pretty young tbh…do you think they are fine ??
Best off looking for reviews from various sources as I’ve heard of neither. Not to say they aren’t but not well known I don’t think.
Where are they based and how long they been around? You really neet to get those reviews from real people before deciding.
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There’s nothing wrong with starting small. If you’re successful then you get to grow your money. If not then you won’t lose much.
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Any luck with more reviews?
Yeah, start small, make sure you can stay consistently profitable over 2-3 yrs, then… if you are, then beg, borrow, steal some capital cos you’ve proven you have cracked trading but if you want to make serious money and (hopefully) you are past the blowing-your-account phase, then you need starting capital of at least £25K I reckon.