I'm a noob trader. Not a year yet. Living in city where US$300 is the monthly cost of living. US$1000 was the starting capital and I earn pretty much $600 a month. I haven't experienced a loss that drained my money to a point where I needed to replenish it. But I'm scared –_–
So can you tell me if what I'm doing is sensible?? 🙂
I like your style, straight talking with no ego 🙂 I do feel trading at 0.01 has its uses, when I felt ready to go live I made a wise decision to trade at 0.01 for two weeks. I was quickly taught I wasn’t ready and went back to the demo.
Hi there! I really have a burning question and I dont know where i could ask you so i'm asking it here: is it also a good strategy to use 10% of youre account for 1 Trade (€10.000= €1000) and on that amount you put in a stop loss of 10% so you can only lose €100 on a trade of €1000, that is 10% of youre total account (€10.000). So you end up losing only 1% of youre whole account? Or is it to risky? Nice video btw! 😉
I don't really agree with the conclusion of this video. I am using a live forex account now funded with 300$ and am practicing money management. I am buying such small amounts of units and a win for me would amount to a 10 cent gain. However, a loss would be 10 cents as well. The value of pips are in percentages of cents. I plan on doing this until I can demonstrate an effective strategy and then increase my account size. I did a demo account for a while, but it's not the same as live money. I had a 25 cent gain the other day and it was amazing. If I can reliability make 50 cents a day then I can scale it up to 5.00$ a day and so on. The issue for me is to demonstrate MM and risk management. I am on Oanda's platform, but I can imagine you can do this elsewhere.
yes you are making a lot of heads spin…..swing trade or scalp? scalping can work but only after you mastered swing trading ….stop gap is 50 to 200 pips….. 4H and daily chart….split the position in half…….so then $1000 / 1% = $ 10 of risk…..@ 50 pips = 20 cents / pip…= lot 0.02….so then risk 2%…. 2 X 1% 50 pip stop…target 50 or 100 pips on one position..if target hit…2nd position move stop to + 5 pips and let it run as far as you can !!….What if your holding a position in profit and another good set comes….need another $ 1000…the minimum lots is 0.01 or 10 cents / pip you could take 1/2% trades X 2 then the absolute minimum is $ 500 / position….but 50 pips is too tight you really need more fire power 200 pips stop now you are dangerous .. traders lose because market squeezes them out …trade bigger stops like the big boys and be a winner..so you need $ 2000 / position @ 2 X 1% @ 200 pips stop…trades .. if your stop is calculated @ 100 pips you make twice as much profit the lot will be 0.04 X 2 positions… you can only afford to take one position at a time …but you have deep enough pockets to play the game…..use these risk parameters and trade demo till you are 65% hit rate….trade your set up 4 hour or daily…..trade like a bank or stop….do not trade…..emotion is the key to winning 90% are trading stops too tight…..and 70% are scalping ….Nail Fuller channel …..let your stops get hit…..set and forget … the only time you move the stop is into profit…..do not sit around watching the market….
Ooo, from the thumbnail with ugly sweater and puckered lips..I thought you were going to do a george Michael imitation. . but your stores are always cool…
I'm not saying you're wrong because let's be honest, I'm not the millionaire here but I feel like for a newer trader that isn't able to push as much volume, you are going to have to trade at a higher percentage. Your average person just doesn't have 40 grand to set aside. Maybe idk what the hell I'm talking about but I feel like someone could take some time to learn strategy and trade maybe 5-10%.
Well, ALSO you can look at it from this point.. if you're not going to be successful trading with $500, what makes you think you'll be successful with $500,000?
thank you for this video, it really open my eyes to the reality of a minimum capital to put in forex. I change my mind I may think of different way to invest, thank you so much .
A really great video but one point that you mention in many of your videos is how you lost then made roughly 200K gbp in a week. of risking 1-2% per trade, you would of had to have 5-20mil gbp in an account. Where am I off? When you lost then made 200K gbp what was your trading balance? Thanks!
Hello, I am just starting to learn. This is one of the best videos I have seen. You show us a kind of inside strategic formula to set a relation among all the facts involve which is also most important than determine the minimum investment. I took my notes. I will follow you without any dude. Thank you very much. It is capital to understand this calculations. Very clever.Thanks again.
You forgot to tell people how much Leverage you had in the live account. Also you forgot to include the leverage in your examples that you give that are so vague. I really wish people would STOP being so vague in what they explain or in their examples or real experiences… Its like they are hiding something they don't want people to know about. I appreciate some of the information that you are giving, but many times I find that you are extremely vague. YOU have to explain to people exactly what happened. How much money you EXACTLY put in, and what was your settings in the account and if the account has a Hi or Low leverage, And if so how much leverage was set on the account EXACTLY. – 1-10 , 1-20 , 1-50 , 1-100 , 1-200 , 1-400 , 1-500 How much lots you traded per trade and How many times you traded per day EXACTLY. — Also did you trade by the minute, hour, day ?? Also what types of tradings you did…….. Short trades, Long trades or Scalping….. Did you do ONLY Forex, Stock, CFD's, Futures, Bonds ?? or was it a mixture of everything or few ? And if so, which ones ?? — Also what broker you used, what platform and what trading company….. These are the things you have to explain to people…… AND FOR THOSE PEOPLE WITH LITTLE MONEY – You CAN deposit $100 into a live account and set the Leverage to 1-10 or 1-20, and slowly build up the account. Greed and instant gratification will get you nowhere ……. If you think you are going to get millions in a month this industry is not for you. Dont believe the hypes on youtube with empty promises & hypes. By opening a Cash account to avoid the PDT Rule (american residents only) and calling in for an Options account. Setting the leverage on your $100 account to 1-10 or 1-20 makes sure you dont blow your account the same day….. Remember – Greed and instant gratification will get you nowhere & a sure way to blow your account. ONLY if you know what you are doing by not throwing everything into the bucket and making sure you trade on a sure trend. Also make sure you have your (stop-Loss) setting ON, to keep you safe. If the chart is too volatile DO NOT participate in the trend, only participate in the trade if you are SURE that there is a trend. Either on long or short trades. MOST small or tiny accounts usually trade in the minute trades. – Meaning setting your charts to (Minute View) and trading from that. You can slowly build your account in the minute trading as long as you are responsible and not have your leverage set above 1-20
25k min. Not a cent less. You can make a nice weekly income with this and stay safe. The more you get, the more you can make faster while being safe. The only problem is the broker.
nice video ,though its from 2016. tried trading with a 500 usd account and got burnt out twice. my income is js about 2k, guess illd have to save for some months instead. kindly advise thanx.
Long ago, when I was a kid, I traded $2k accounts. I knew then that it wasn't to make big money in any way, it was to learn. I always considered losses to be "self-educational fees." I couldn't be doing what I am now if I hadn't paid dues then and been involved in markets for this long.
I think the main advantage to small accounts is to make the sorts of mistakes that would be a much bigger problem with bigger accounts. Losing half of $2k because you're fumbling around is not going to make a big difference to anyone really. Losing half of $100k because you went guns blazing into unfamiliar territory might end up in a divorce.
how do you LOSE your £500 account? you still own the stock you bought right? even if you buy it at £500 and sell it at £350 you still get SOMETHING back? I dont understand. 🙁
Hi, I just started learning about trading, To be honest I understood about 40% of what you said, tho I find your videos very educational and would please like to learn more. Thank you.
What a joke. Don't think anyone with 40k lying around, or even 10k lying around is gonna be watching your videos. your target is those with 1k. People with 40k spend 2k, do the course, join a broker and make 40k a month from selling signals.
Leverage is a beautiful thing 😉 I've been trading at 0.02. I dont think its a bad thing to trade small lot sizes till u see you are making consistant profits. Trading a demo is definitely good idea to get to grips with everything but there is no emotional attachment to demo. I have been making about $10 on my winning trades. Small amounts but getting there
Awesome video. You made the explanation of this topic very clear and easy to follow. Thank your for being honest and telling aspiring traders the truth. I hate it when people try to make trading forex into some super natural crazy easy way to get rich in 90 days with $500. A lot of good people get hurt like that. Trading forex is probably the greatest and most rewarding thing that any of us will ever venture to do. We don't have to lie and embellish the truth…..Trading is awesome as it is!
I'm a noob trader. Not a year yet. Living in city where US$300 is the monthly cost of living. US$1000 was the starting capital and I earn pretty much $600 a month. I haven't experienced a loss that drained my money to a point where I needed to replenish it. But I'm scared –_–
So can you tell me if what I'm doing is sensible?? 🙂
I like your style, straight talking with no ego 🙂
I do feel trading at 0.01 has its uses, when I felt ready to go live I made a wise decision to trade at 0.01 for two weeks. I was quickly taught I wasn’t ready and went back to the demo.
Great video! This is excellent, and extremely precise. Thank you very much!
are you saying its impossible to grow an account from 500/1000 or that its just highly unlikely?
Hi there! I really have a burning question and I dont know where i could ask you so i'm asking it here: is it also a good strategy to use 10% of youre account for 1 Trade (€10.000= €1000) and on that amount you put in a stop loss of 10% so you can only lose €100 on a trade of €1000, that is 10% of youre total account (€10.000). So you end up losing only 1% of youre whole account? Or is it to risky? Nice video btw! 😉
I don't really agree with the conclusion of this video. I am using a live forex account now funded with 300$ and am practicing money management. I am buying such small amounts of units and a win for me would amount to a 10 cent gain. However, a loss would be 10 cents as well. The value of pips are in percentages of cents. I plan on doing this until I can demonstrate an effective strategy and then increase my account size. I did a demo account for a while, but it's not the same as live money. I had a 25 cent gain the other day and it was amazing. If I can reliability make 50 cents a day then I can scale it up to 5.00$ a day and so on. The issue for me is to demonstrate MM and risk management. I am on Oanda's platform, but I can imagine you can do this elsewhere.
so i need 2,000,000 kenya shillings to trade!? i beg to differ
This is the third video of yours I've watched… and I love you lol #AwesomeContent
Solid advice
One of the best video ever about starts trading budget!! thank you so much
What brokers do you recommend for US people
yes you are making a lot of heads spin…..swing trade or scalp? scalping can work but only after you mastered swing trading ….stop gap is 50 to 200 pips….. 4H and daily chart….split the position in half…….so then $1000 / 1% = $ 10 of risk…..@ 50 pips = 20 cents / pip…= lot 0.02….so then risk 2%…. 2 X 1% 50 pip stop…target 50 or 100 pips on one position..if target hit…2nd position move stop to + 5 pips and let it run as far as you can !!….What if your holding a position in profit and another good set comes….need another $ 1000…the minimum lots is 0.01 or 10 cents / pip you could take 1/2% trades X 2 then the absolute minimum is $ 500 / position….but 50 pips is too tight you really need more fire power 200 pips stop now you are dangerous .. traders lose because market squeezes them out …trade bigger stops like the big boys and be a winner..so you need $ 2000 / position @ 2 X 1% @ 200 pips stop…trades .. if your stop is calculated @ 100 pips you make twice as much profit the lot will be 0.04 X 2 positions… you can only afford to take one position at a time …but you have deep enough pockets to play the game…..use these risk parameters and trade demo till you are 65% hit rate….trade your set up 4 hour or daily…..trade like a bank or stop….do not trade…..emotion is the key to winning 90% are trading stops too tight…..and 70% are scalping ….Nail Fuller channel …..let your stops get hit…..set and forget … the only time you move the stop is into profit…..do not sit around watching the market….
Ooo, from the thumbnail with ugly sweater and puckered lips..I thought you were going to do a george Michael imitation. . but your stores are always cool…
Very wise words from a young head ! I deeply appreciate this video and, yes, you are the BEST Scrooge ever !! LOL !!!
I'm not saying you're wrong because let's be honest, I'm not the millionaire here but I feel like for a newer trader that isn't able to push as much volume, you are going to have to trade at a higher percentage. Your average person just doesn't have 40 grand to set aside. Maybe idk what the hell I'm talking about but I feel like someone could take some time to learn strategy and trade maybe 5-10%.
Well, ALSO you can look at it from this point.. if you're not going to be successful trading with $500, what makes you think you'll be successful with $500,000?
thank you for this video, it really open my eyes to the reality of a minimum capital to put in forex. I change my mind I may think of different way to invest, thank you so much .
What's a good demo app to use to learn?
A really great video but one point that you mention in many of your videos is how you lost then made roughly 200K gbp in a week. of risking 1-2% per trade, you would of had to have 5-20mil gbp in an account. Where am I off? When you lost then made 200K gbp what was your trading balance? Thanks!
IS IT FINE TO TRADE ON expertoption.com ??????????????
Hi which forex broker are you using?
Hello, I am just starting to learn. This is one of the best videos I have seen. You show us a kind of inside strategic formula to set a relation among all the facts involve which is also most important than determine the minimum investment. I took my notes. I will follow you without any dude. Thank you very much. It is capital to understand this calculations. Very clever.Thanks again.
I know a guy who does high risk and started with just $20 and now he's at $9,000 in 3 months
That's the truth, bro.
Dammit I wish I knew about trading years ago. I feel so behind ??
You look like Paul Wesley, such a good looking fella 🙂
Awesome video. So true bro.
You forgot to tell people how much Leverage you had in the live account.
Also you forgot to include the leverage in your examples that you give that are so vague.
I really wish people would STOP being so vague in what they explain or in their examples or real experiences… Its like they are hiding something they don't want people to know about.
I appreciate some of the information that you are giving, but many times I find that you are extremely vague.
YOU have to explain to people exactly what happened. How much money you EXACTLY put in, and what was your settings in the account and if the account has a Hi or Low leverage,
And if so how much leverage was set on the account EXACTLY. – 1-10 , 1-20 , 1-50 , 1-100 , 1-200 , 1-400 , 1-500
How much lots you traded per trade and How many times you traded per day EXACTLY. — Also did you trade by the minute, hour, day ??
Also what types of tradings you did…….. Short trades, Long trades or Scalping….. Did you do ONLY Forex, Stock, CFD's, Futures, Bonds ?? or was it a mixture of everything or few ?
And if so, which ones ?? — Also what broker you used, what platform and what trading company…..
These are the things you have to explain to people……
AND FOR THOSE PEOPLE WITH LITTLE MONEY – You CAN deposit $100 into a live account and set the Leverage to 1-10 or 1-20, and slowly build up the account.
Greed and instant gratification will get you nowhere ……. If you think you are going to get millions in a month this industry is not for you.
Dont believe the hypes on youtube with empty promises & hypes.
By opening a Cash account to avoid the PDT Rule (american residents only) and calling in for an Options account. Setting the leverage on your $100 account to 1-10 or 1-20 makes sure you dont blow your account the same day….. Remember – Greed and instant gratification will get you nowhere & a sure way to blow your account.
ONLY if you know what you are doing by not throwing everything into the bucket and making sure you trade on a sure trend.
Also make sure you have your (stop-Loss) setting ON, to keep you safe. If the chart is too volatile DO NOT participate in the trend, only participate in the trade if you are SURE that there is a trend.
Either on long or short trades.
MOST small or tiny accounts usually trade in the minute trades. – Meaning setting your charts to (Minute View) and trading from that.
You can slowly build your account in the minute trading as long as you are responsible and not have your leverage set above 1-20
25k min. Not a cent less. You can make a nice weekly income with this and stay safe. The more you get, the more you can make faster while being safe. The only problem is the broker.
What is a 'P'? A pound?
Hey, which broker do you use to trade forex?
personally 30k US is good. if you dont have that much money save and study the market until you can come up with that money. worked for me.
@Duomo: 1.) What Broker… 2) What platform/Software……..3.) what market(s) & Financial Instruments U trading !?
I would save up $ to live for in a year + my trading account. Just to take some of the pressure off at the start..
nice video ,though its from 2016. tried trading with a 500 usd account and got burnt out twice. my income is js about 2k, guess illd have to save for some months instead. kindly advise thanx.
thanks for your honesty. well done
Long ago, when I was a kid, I traded $2k accounts. I knew then that it wasn't to make big money in any way, it was to learn. I always considered losses to be "self-educational fees." I couldn't be doing what I am now if I hadn't paid dues then and been involved in markets for this long.
I think the main advantage to small accounts is to make the sorts of mistakes that would be a much bigger problem with bigger accounts. Losing half of $2k because you're fumbling around is not going to make a big difference to anyone really. Losing half of $100k because you went guns blazing into unfamiliar territory might end up in a divorce.
how do you LOSE your £500 account? you still own the stock you bought right? even if you buy it at £500 and sell it at £350 you still get SOMETHING back? I dont understand. 🙁
So you have to be filthy rich to work as a trader XD
Hi, I just started learning about trading, To be honest I understood about 40% of what you said, tho I find your videos very educational and would please like to learn more. Thank you.
What a joke. Don't think anyone with 40k lying around, or even 10k lying around is gonna be watching your videos. your target is those with 1k. People with 40k spend 2k, do the course, join a broker and make 40k a month from selling signals.
hmm 25 000 at the absolute least if you if your very advanced
atleast 100,000 realistically
Leverage is a beautiful thing 😉 I've been trading at 0.02. I dont think its a bad thing to trade small lot sizes till u see you are making consistant profits. Trading a demo is definitely good idea to get to grips with everything but there is no emotional attachment to demo. I have been making about $10 on my winning trades. Small amounts but getting there
Awesome video. You made the explanation of this topic very clear and easy to follow. Thank your for being honest and telling aspiring traders the truth. I hate it when people try to make trading forex into some super natural crazy easy way to get rich in 90 days with $500. A lot of good people get hurt like that. Trading forex is probably the greatest and most rewarding thing that any of us will ever venture to do. We don't have to lie and embellish the truth…..Trading is awesome as it is!
All aspirations crushed
What's your email? address? I don't understand enough to not ask.
I wished I would've seen this video before burning down my account, so been there!
finding this now in 2017….
amazing