Starting out with $200 and waht next...

Messages
75
There is no doubt that forex market is a versatile market place but it is also a highly competitive market due to its infrastructural nature. What attracts me most in this market are the independence of trade and smaller investment required to work here. At first I worked with demo trading accounts so that I can have the familiarity with the basics of forex trading and a proper understanding of trading tools and techniques.

After practicing about 6 months with demo accounts I participated in numerous demo contests and fortunately I won many of them. Finally I came in action in the forex market with the live accounts using real money in 2016. My investment was only $100 with mini accounts and toady I am able to multiple the money efficiently.
 

bigdolly

Sergeant Major
Messages
939
There is no doubt that forex market is a versatile market place but it is also a highly competitive market due to its infrastructural nature. What attracts me most in this market are the independence of trade and smaller investment required to work here. At first I worked with demo trading accounts so that I can have the familiarity with the basics of forex trading and a proper understanding of trading tools and techniques.

After practicing about 6 months with demo accounts I participated in numerous demo contests and fortunately I won many of them. Finally I came in action in the forex market with the live accounts using real money in 2016. My investment was only $100 with mini accounts and toady I am able to multiple the money efficiently.
That was wise and safe trading approach that surely saved you from dire consequences. Continue to navigate through this reliable path and success is guaranteed
 

Addam

Recruit
Messages
259
All the newbies are advised to start their trading career with lower capital account in order to know the ethics of the Forex market. It will help you to gain some confidence and improve your patience. After the analysis of this account, you need to enter the market with higher capital.
 

Ken Smith

Private
Messages
104
Unless you have proven yourself, for live trading 200$ to 500$ is good enough. Or you can trade in cents account with 50$ to 100$ untill you are making consistent profit with real money. Then you can make big deposit.
 

Tahntaman

Recruit
Messages
9
WE do want to tell you that you need to start taking action, even by this $200 absolutely and possibly for many real matters entirely and clearly. You may not make your goal, but you will make something other like that possibly.
 

JayJones

Private
Messages
30
Hello traders,
I have a question directed to experienced traders, but not to get answer from people who have still trading on a demo account and their opinion. I apologize if this sounds rude, but I guess you will understand that I need advice from someone already experienced in this business.

I am practicing for almost 4 years on FOREX demo account and I am feeling somehow ready to enter into the real world, but starting out with only $200 (I cannot afford more money as in my country the standard of living is very low). By trading, I have success in realizing my strategy of making 2% daily and achieving the goal of $50000 for around 340 trading days (excluding weekends and holidays) or 1.5 years. I am mainly hybrid trader (news, technicals and sentiment recognition).
But on the other side, in my head started to rise confusion when I have read on the forums and sites from experienced traders(I guess so) that the above mentioned is near impossible to be made on real account, and best starting deposit is from $5000 to $10000 (which for me this is institutional deposit and big money, impossible to afford) for which I was not able to find any credible information why.

What is your opinion on this, is my strategy a rational expectation (even for realizing it after 2 to 3 years) or only great delusion that will make you laugh out loud for the real account starting out with only $200?

Thank you.

P.S. I am not in desperation for money or trading for a living method
How are you getting on now?
 

bigdolly

Sergeant Major
Messages
939
Unless you have proven yourself, for live trading 200$ to 500$ is good enough. Or you can trade in cents account with 50$ to 100$ untill you are making consistent profit with real money. Then you can make big deposit.
Yeah cent account is the only option for his level of experience and emotional skills. I traded only with 0.01 lot for 3 months when I just started with my first $500 on Hotforex.
 

JayJones

Private
Messages
30
Well, I have read this many times as I said, but I need details how do you explain that $200 is not enough. It is nothing that matters to force me to a decision if it is good or bad to make the start. I already made the decision. It is only for discussion purposes or I will have to find it myself. I mean no offense to you. ;)

I have a daytime job (writing from there), no problem, even I have savings which I am eager to invest them in this business because I find it very interesting, but in my country, average savings are very low in comparison that can be in European countries, US, Australia, New Zealand and few other that I didn't mention them. So yes, I can afford to lose $200.
I can't afford $200 lol
 

bigdolly

Sergeant Major
Messages
939
$200 is $200 dollars, everyone starts somewhere! Patience and discipline at all times!
Yes it's good amount to start but you know optimal amount in my view is 2000 USD and 1% risk per day (20 USD). Enough to make off living from it and the risk is relatively low. 3-4 trades in a day.
 
Top