Greetings, my fellow pips and pipets my goal is to build up my account with equity in this forex market. However I would like to know how much money can i make with 100 dollars in my account. I know i can only trade with two pairs so my goal is to double my account so i could add more money to trade. I have been practicing on my demo account and i have doubled my winnings with my trading method in which i will post soon. Stay blessed
Quick question, how long did it take to double your demo?
And a quick âbeen there done thatâ point of view.
Donât expect demo results to be mirrored by your live results.
Reason being?
Psychology. If you can manage to defeat the space between your ears, and trade the way you did on demo you will be just fine. But donât expect that to be a reality. It will take some time to conquer your head;)
Iâm really happy to see that you are starting with a small amount. And if properly traded, that $100 is all you will ever need to deposit.
If you can double your money once. You can do it again.
Try for once first! lol
Good Luck
depends upon leverage, appetite for risk, trading style (day, swing, long term) amoung many other factors.
From my understanding - âprofessionalâ traders can get 5-10% per month which is in the range of double your money every year type of action. Iâd guess many investment tools would be really REALLY good if they could do that.
Make sure you chose a broker that lets you trade nano lots. If you are in the USA this is even more important 50:1 leverage is fine and should not be a problem but it will be with a small account.
One of the things that happens to traders with little accounts is they are tempted to risk a lot. Why would you spend all that time looking at charts to make 1 dollar if you just upped that trade size you could make a lot more. Donât do it.
Couldnât be more in agreement.
Oanda will even let you trade less than a standard nano lot.
Might be a good choice in this instance:)
Thanks for the advice trading warriors. I will give you further results and updates on my trades. peace out
Any body sell the eur/chf well my results or still pending. the profit is fluctuating between 110 and 90 profit. Sell the eur/chf @1.2810@stop at 1.2860 limit/target @1.2810. peace:cool:
I totally agree - you may be better off continuing trading demo on âlargerâ notionals and then go live with a bit more capital at risk (if you can)
Cheers, Alberto
IMO $100 isnât worth trading when you can work at a job and make more than expected %/month in one hour without any risk. Keep serious demoing while you save up funds.
Personally I trade live and have deposited up to $500 - and I consider this my price for education⌠(A live demo if you will)
I just put $180 yesterday - and if all is lost by the end of the month/year whatever - it ONLY Dissappoints because I have not learned to trade yet.
You are missing the point of the greatest tool at your ready.
Compounding.
If you could add a measly .3% a day to a $100 account, (1.5% weekly), you would have the retirement package from hell.
Thatâs just $0.30 a day to start.
Look what happens over 20 years.
1 : $201.21
2 : $404.89
3 : $814.72
4 : $1,$639.38
5 : $3,298.76
6 : $6,637.77
7 : $13,356.50
8 : $26,875.9
9 : $54,079.59
10 : $108,818.77
11 : $218,964.75
12 : $440,600.1
13 : $886,573.98
14 : $1,783,961.03
15 : $3,589,680.1
16 : $7,223,141.63
17 : $14,534,380.11
18 : $29,246,028.38
19 : $58,848,755.13
20 : $118,415,257.45
So youâre not retiring in the next 5 months. Thatâs the foolâs thinking in this business.
Itâs slow and steady that wins the race here.
I could live with that. I would be 60 by year 20. I might get to retire now!!
Thatâs good advice trading warriors I am going to add more money to start trading with. I will keep you posted on my results. Remember this is a game that is either won or loss so which one are you going to choose red pill or blue pill. peace:cool:
Then you can write a book. âHow I turned $100 into $118,415,257.45â
Iâm working on it already:p
I believe you over exaggerated my point Master Tang. Iâm familiar with the power of compounding but Iâm just saying⌠$100 of capital would be too small to start compounding with when there are alternative ways to make risk-free money at a job and knock out the need of the first few years.
How did I over exaggerate anything?
For that matter, why would even $10.00 be too small?
You mentioned staying on serious demo the whole time.
I would alternatively suggest that would leave you considerably behind the learning curve.
Demo is NOTHING like live. Sure they are exactly the same, but they arenât when real money is at stake. Your head plays games with you.
Might as well do it live, and get used to the percentage game. If you play it smart, $100.00 pips will have the same ratio to the account that $0.01 pips would.
After a point, demo is wasted time. Your strategy either works, or it doesnât. If it does work, you might as well make your practice time pay.
from what ive come to know about forex trading, that $100 could make you $1,000,000 every month for the rest of your life with proper trading strategy and time!
Be Blessed
This is so trueâŚMy Sentiments Xactly