Listen, your opinion of me doesn’t matter one iota. If you can do better than share with me how to improve. Otherwise talk down and negative to someone else please. Thanks
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The problem is, it’s people making ridiculous claims like “Look how much money I can make in 2 weeks from a few crumbs” that drive people towards this market and make people who cannot afford to lose money gamble it in a way that will only make them poorer. This person wants to live off $10 a day, you lost $8000. You do not understand one iota of what money means to this person, because you had $8000 to gamble.
If you continue to trade in the same way that you have just multiplied your account by 5, then you will ultimately lose all your money again. That’s fine if you can afford it. Somebody who is trying to make enough money to live off $50 on a trading account is going to lose money they can ill afford to.
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forr starters i think it can be used as a starting account, to test and practive live trading. but pls stick with demo for a couple of months first, see how well u can grow a demo account with the same amount, see how much return u can make in a month, not daily, usually daily targets can do u more harm than good, but its not impossible, u need patience with forex and i hope u think about it more before investing 75, and for some 75 is not a small number. best of luck
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If you’ve identified a problem, fix. Otherwise stop whining and being a hater. Show your work instead of being bitten about mine. Peace and love to you.
I have identified a problem. You’ve lost $7800 trading forex and are telling somebody they can make enough to live off from a $50 stake. You are deluded because you’ve had 2 lucky weeks.
I’m not going to post how much I’ve made in what time period, because I don’t want people to jump into something that they can’t afford to do. I spent money on trading that I could afford to lose. I wiped out my first account too. Stopped, re-evaluated things and now in 10 months I’ve had 8 profitable months and 2 losing ones.
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Most of us lose money our first time. Technically, I didn’t lose all of my money. I withdrew from it too. Like you, I took some time away from trading, learned from my mistakes. I’ve only been back at it for 2 weeks. The question was whether you can grow a small account. It can be done. I’m not trying to delude anyone. I’m simply trying to encourage someone to follow their dreams. Learning to trade forex is a good path to financial freedom. No one will ever get ahead or even get started, if their afraid to make a mistake. You can’t be fearful and be a trader. You lost money. It’s part of the learning process of trading forex to lose some money. We shouldn’t be discouraging people from making the same mistakes we all sometimes make as newbies. It’s kind of hypocritical. You can’t trade a demo account forever if you want to start down the path to financial freedom. Eventually you’ll have to get in and get going. How else will they learn?
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Forget the idea of 75 usd but earn 10-20 usd every day. So, it’s like gambling, buddy
Oh yes it is quite high risk to make a plan to get 20% return per day. I think we should just do trading with 1% to 2% and make a target to have just 5% to 7% monthly profits. 20% per day is a total risk that can be a loss of your capital and this will be a great loss.
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Yeah, 1-2% per day are pretty good profit targets, with compound returns if your winning ratio is at least 75% (16 days from 22 working days in a month) and risk/reward per trade 0.75:1, your monthly return will amount to (1+0.01)^16*(1-0.0075)^6=1.12, i.e.12% monthly return. For 2% daily profit target and same R/R monthly return is (1+0.02)^16*(1-0.015)^6=1.25 or 25%.
With 5000 USD deposit you will make 600 USD (1200 USD) monthly with such money management scheme, not counting transaction costs
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I started with fxchoice you can start low
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Unless you can open positions with 100 units (or less), trading with $50 isn’t feasible.
You will have to take huge amounts of risk to generate any sizeable gains.
At this point, you’re not trading but gambling.
Also, depending on your trading platform, you will be limited to certain currency pairs because you will not be able to meet initial margin requirements, even for micro lots (1,000 units).
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As most people here advised, try using a demo account for a while, develop a strategy, and work on higher timeframes, ignore fundamental analysis and work things out completely using technical analysis, there are so many courses about how to develop a strategy and how to do your technical analysis and back-testing for your strategy on Udemy. I would advise you to choose a reliable broker first, then use a demo account with the same amount of capital that you’d like to invest ($50 or $70), trying to find a proper broker is a headache itself since you’re Tunisian, I know how complicated the financial system there because I used to live there for a while.
Best of luck, and trade carefully.
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Hi mate good luck with your future trading. Let me start with one thing, yes you can start with low I started with 75 nd I am happy with 5 to 10 pounds profit every day. Go with low lot sizes nd grow your account first. And also keep risk management in mind because small accounts blow quickly.
Firstly find a broker with low deposit and commission.
Practice stratagies before implementing.
Keep an eye on news including financial news.
Go with usd pairs u will more for ur less money.
Remember greed is curse
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I had a post in another thread. I’ll try to put the details here when I can. Got a message that new users can’t put links in posts.
Then again. I only have 3 posts on the site so far. Shouldn’t be hard to find the other thread.
Don’t want to reinvent the wheel and do stuff. Anyways. I started over after a long hiatus with $50. I now have $123.06 after starting on 27/03/2020. Some of the trades were high risk based on the balance.
It’s not impossible. But - if you’ve not traded before and you don’t have a strategy - then it will be difficult. And you may risk losing your small balance.
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after listening to all the compliments i just wanted to say i watched a trader take a 40.00 account to over 250.00 in one day…so it is feasible that with 50.00 he can be successful…i believe that he needs i good strategy and great money management skill. but after seeing the other trade make 240 ovenight.i say to the trader that is asking is something achievable i say it is…
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I started a $50 on the 19th of March 2020 and as of yesterday the 3rd of April 2020 my balance was $134.90 and I did not lose any trade within this period. How did I do it? My strategy was 0% greed, 0% fear of loss and 100% patience. I do my technical analysis and as long as I am sure I go for it. I do my best not to trade around the news. For a balance of $50 - $199 I do not use more than 0.01 lot size. My average profit per trade is between $3 - $7 on 0.01.
I started an $100 account on the 24th of March 2020 and as at close of the market last night the balance was $172.73. Again my lot size was always 0.01.
I wish you the best.
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Is this how I reply?
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Start with Demo account, practice for at least 6 months, perfect your strategy till it feels completely perfected. Then trade demo 3 months more.
I started with real account, 700$, lost 350 in two months.Lost about 300-400$ buying signals, just to understand that they don’t work ) Now I am trading demo for 3 months, have found strategy. Profit is about 100$ per month from 2000$ account.
And one small advice - there is one (but not only) important downside trading small account - you can’t take half profit with 0.01 size, and this technique is really crucual
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Bro you need to learn swing trading. I swing the euro dollar with 1k unit orders (0.01) and I’m doubling accounts using $50-$100. Easily. You just need a nice concept of support and resistance, price action, and patience. All you need is 1-4 orders a week. I went long in the Euro/Dollar @1.066 and ride that up to @1.1116. This was from the 20th of march to about the 30th. That’s a lot of pips and I rode it with a 0.01. over +100% so don’t let all the super conservatives tell
Your otherwise. You need patience and a decorated market psychology. HMU for anything brother. I’m 2 years in. No pro but I’ve passed my learning curve.
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Small account traders to trade markets that they cannot trade using cash. However, trading the same underlying stock using the options or warrants markets (both highly leveraged markets), only requires approximately 15% of the trade’s value in cash strong text