By showing how simple $100 can turn in to $120mil, which it is, don’t get me wrong. We know the power of compounding profits but would a serious investor be okay with averaging less than $5 a week for the first 3 years?
I’m just saying, It’s easier (IMO) to make more money by maybe working an extra day a month or cutting unnecessary expenses. The time spent saving up for a small but decent account to start out with shouldn’t take [U]that[/U] long. A trader must prove successful in demo before live or they’re doomed from the start.
PIPillionDollarBILL: If you want the money in your avatar then you’ll need to spend more time watching Breaking Bad.
He can do both surely? Throw in $100 and get some experience using real money while also working, cutting expenses, etc. so he can add to his stake as he progresses. I don’t see why they have to be mutually exclusive. Trading demo or live takes up the same amount of time so getting used to putting real money on the line even if it’s a relatively small amount is a good experience after he gets used to a couple of months or so on demo to learn the technical side.
Second time going live, I put in $150 and double it in under a month (without tying up leverage). I can’t wait till the day that I’m doing $100 a pip lol
I think some of you are missing the main point of starting with $100, IMHO that is the best amount for anyone to start live trading simply for the reason going from demo to live is a big change, the worst thing anyone could do is go from demo to live and start trading a large account then blow it.
A $100 acount can be traded with the same risk/reward ratio as a large account by trading small lot sizes, while at the same time the trader is gaining experience from trading a live account with a negligable risk to his own finances.
Well, I think when the rubber meets the road -
I had sold my house and moved into a rental - now living much cheaper, and so of the $9,000 left over, I thought, just 1/2 - or about 1/2 - well $5,000 is a good number to open an account with.
and so I had a ‘system’ that quite frankly showed that I lost all of my $100 in a matter of days - do you honestly think I have the nads to put $5,000 in there. it probably would be gone in a matter of days/weeks as well.
Just trying to point out for me anyways, it makes NO sense to even dream, I for one have to take that 100 account and
not lose it. Now how comfortable are ya sticking $5,000 in there?
make 1% per month , Now $5,000? this is 12% per year (non-compounded)
make 2% per month Now stick that $5,000 in there?
Well, I haven’t even asked yet, how are you making that 2%, do you have PROOF ENOUGH to deposit $5,000?
What will it take for you to get the nads . . . . .
Well for me . . it’s got to be pretty pretty awfully VERY “can’t hardly lose” situation.
Can’t wait to get there
I got to say you can do it with 100 bucks. I started with 250 and have not done well due to poor risk management and getting greedy. However I hear master tang say this over and over and over on here. Dont look at profit in terms of money or pips but percentage of an account. I now realize what he has been saying. My goals are a little lower than he said on this thread 1% a day so as of right now thats 18.9 pips I shoot for that percent everyday. If I see the trade will go to more profit I tighten up a trailing stop and let it run it course and I must say I have hit that number everyday since. Unlike last time I would get greedy and keep trying for more but wind up loosing all my profits and then some (thats how my account got down) However 1% is realistic and makeable also not that hard to do today. I got a system I am working on so far seems to be pretty good as long as I dont over trade. My point is set a percentage goal you can realistically make with your trading strategy and stick to it. If I can do that I will be back to my original deposit and stand a good chance to go higher later on. I got plenty of time before retirement. But I will say master tang has good advice if you stick to it. With a hundred bucks I would set a percentage goal a little higher than 1% (if it was me) like he said 3% on a micro account thats a 30 pip gain for the most part a day. It can be made with a little effort on your part. Stick to your strategy and roll with the punches. Like already stated you are already spending time demoing you might as well get some capital out of it even if it is not much for the time being. I only use a demo to try out a different strategy. Good luck hope you make that hundred million.
Hey trading warriors i just deposited 100 dollars into the new etoro trading platform and i just profited 9 dollars from Usd/Eur. I will post my results in about 2months and show how this trading can be done with proper money management peace and stay blessed.
The way my account is set up, some of my position are as little as $20. I have a leverage of 50:1 and i trade lots of 1000. Per-pip profit is around $0.10 - $0.15 depending on what pair I trade (and if USD is the main currency).
Using my scalping method, I make about $1.00-2.00 every trade and I do a lot of these everyday. You can. Even at just 4 a day split between two pairs you can see some substantial gains to a $100 account.
At the end of the day making $30 in a month is only enough for 3 trips to Panera Bread. So eventually you’ll want to expand your account.
After several successful demo accounts I went live with £2k and got the dressed ‘margin call’ about 6 weeks later. So I tried again, this time a little more cautious so I invested another £200 and managed to double the account in less than a week just keeping to smaller trades but little and often. 4 years later I’m still here trading so I must be. Doing something right now, however I the profit I made on the small account could not be replicated now as I would not take the risks that I took with a £200 account.
[B][U]RULE # ONE[/U][/B]
NEVER INVEST MORE THAN YOU CAN AFFORD TO LOOSE!
I think the best way to do them all is to be more familiarize with the platforms. Platforms have demos that will surely guide us on how to do things right and how we can work together with them. Its a matter of how we will master the product to effectively participate in trading. Exercise with demos and be good at it before trading actual money. And $100 will be a good start too.
Thanks for all the advice I really appreciate the information that is given to me on this forum. I took a little loss this morning on a trade I should have got out of. Now I see that emotions cannot get in the way when you trade because as a trader I don’t control the market, but I sure can control my emotions. Right now it is 11:08 pm I am trading the EUR/USD and my account stands at 111.08. My goal is to get to at least a thousand dollars in the month of April. I will keep you posted and remember stay blessed.
There is one very good reason to start a live account with a small amount of money. To get the feel of real money trading. A person will never know the psychology of it until there is something at risk. Only then can a person trade with all aspects of the game on the the table.
Good Luck! Personally I think you are raising the bar too high for your first live account. After i wiped out my first account my intention was to trade for the next 3-6 months using my system (being disiplined) without making any losses.
Doubling an account is very difficult. If you are trying to double a $100 account you are probably taking a huge amount of risk. A more realistic amount that you can make is around 5-10% without taking a huge amount of risk.
You really need to think about investing more money. You will need to maintain £50 margin for a mini lot If you are taprading 200:1 leverage. If you are trading even the most popular currencies you will incur a 3 pip spread (depending on your broker) which means a the Market only has to move against you 30-40 pip before you get a margin call!
So unless your trading method has magaged to calculate the exact turning point of the trends you will have a problem on your hands.
I don’t believe it"s a difficult task to double a 100 dollars. I have a very competitive nature and i will find a way to win. There are no excuses for failure. It does not matter if you trade with $100 or 10,000 dollars it all depends on whether you managing your money. Money management is crucial when comes to trading period. I had a conversation with a friend and he told me that he lost $27,000 dollars in the forex market. And once he told me his experience I was saying to myself why did he not start off with a $5000 dollar account. You see I observe all information that is given to me and then i let my own intuition guide me on which information suits me.
