How Much Money Do You Need to Trade Forex? (Realistic Trading Capital Amounts)
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- Опубликовано: 29 сен 2024
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In this video we go through a realistic calculation based on appropriate risk management (watch to the end for multiple options).
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I started with £35,500, one of the best decisions I made at stage of my life. And I have involved my children into it. I wish I started it at 17.
How r u doing now???
I'm good. Thank you and you
I am a beginner, can you mentor my early beginning?
How do I reach you?
I am not a professional broker, I can recommend a good broker Mr Chris Vandernaald to you guys
I like this guy he not selling you no bullshit ..maybe it's the accent lol.but no seriously this is very good info
Thanks buddy, really appreciate it.
Andres Tomas I totally agree. Great & honest advice here!
Ton Jones go fuck yourself.
Nobody will fall for your bs.
@@Duomoinitiative Thank you ! Great Info
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Fantastic explanation!! I have paid a lot of moola for different dvd courses but even those didn’t explain it soooo well as you did thanks sooo much for that!
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.
I wished I would've seen this video before burning down my account, so been there!
I noticed a lot of examples i related to. like where i blew $500 going stupid with my risk profile.
Risk management is key guys. its not about how much you win. rather HOW YOU CONTROL LOSSES.
Try the best broker on binary option and bitcoin trade
I blew mine today, then this video popped up lmaooo
Just a quick question. I understand that every trader is different with their goal preferences and Stop/Limit order, however for you personally, what percentage of profit do you try to aim for when trading. Just to give me, a newbie trader, an idea of what to shoot for as well.
I usually look for at least 3:1 on a trade, with no more than 2% at risk (usually below 1% at risk).
- Nicholas
My brain just exploded
mine too
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I don't really know how to make you guys believe Mr alec is the best I have know in this game... after alot of stress and hardwork. He make me smile again. If I can risk it and make it, you can also do the same. Alecmirman@yahoo.com
Great advice from duomo/nick
But once again... ignore these snakes below giving contact info for other training or get rich quick BS.
(Sarah, Jullianne and Bryan)
If you’re even close to believing these people want to make you money, my guess is you should stay away from the markets anyway.
And LOL... funny pizzaman!
first of all thank you very much for your effort and great content
second please correct me if im wrong
if i have 5000 dollar account and my maximum risk is 1% 50 dollar , maximum lot size is 1.00 and my target is 100 pip witch is 100 dollar, then i will be in the right side or should i do some adjustments
Well explained.. So basically, as a rule, don't risk more than 1-2%... BUT, what's the rule for losing trades, ie, if you lose 3 trades in a row then walk away for that day? so basically lose 3-6% then take the hint & it's a bad day for trading?
Got the money sitting in the bank collecting shit interest, just need to fine tune my trading then grow some balls & put it into a good broker account.
What's your view on Darwinex?
Keep up the good work Nick
Nick :)
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%.
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?? :)
Aim for 5000k at least
I would save up $ to live for in a year + my trading account. Just to take some of the pressure off at the start..
I use signals. I've been following the trades for around 20 days and have made £180 from these signals in a £350 account. I have been using 0.01 lot sizes and have still managed perfectly (around £3-£4 per trade... Not 60p). Obviously my understanding is limited but I do believe if you are someone like me (a student) who is looking for some kind of extra money/money to compound then I don't see why it isn't possible. I do understand the video but I also think that people who wish to gain only small returns like I have been getting it is definitely worth the consideration.
Nicholas, do you have any video explaining swing strategy for intraday trading and forex?
Our method can be used for any style of trading. As mentioned before, you should start with the free mini-series to begin with and understand the basics. We don't do videos about single strategies, we believe trading should be taught as a skill with an overall method, not taught as a strategy.
I understand the point, but in your course do you teach basic concepts about finance or forex, and how the indicators work? You teach to use indicators or you only teach the phsycology? You teach some strategies or not? I understand you teach as a skill, but you teach all of this together or you focuse in what part of forex to be profitable? Thanks
Yes as you've probably seen on this channel (or if you want to look at the course curriculum, you can see that on the course information page) we teach every area, psychology, preparation, technical analysis, risk management, optimisation, indicators. We take an end to end approach.
I like it Nicholas, thanks for the professionalism. I will for sure get into your course in near future. Im sure you will make me earn some wealth. Saw a bunch of videos around youtube and didn't found anything at the same level of honesty and profesionalism.
Sent you an email, answer me pls.
Best trading!
good info man .. im trading cryptos at this moment returns are way better than forex + u can lose all your money in matter of seconds forgot to mention that, i really would liek to start trade forex as well ... as it is not so volatile as cryptos :D
what leverage do you recommend us to use ??
1/100
i saw some trading teams turning a 1000$ trading into a million $ in around a year or so .. i think if you work in a team of traders you'll do less work and get better results
You better look like Hollywood actor not trader..I think you should try for marvel series..Nevertheless your views about trading is very nice..keep it up
So is 0.1 contract a micro lot? thank you for superb video.
0.1 is a mini lot. 0.01 is a micro lot
Bro. can u start live trading ?
Feel free to add Mr Coleman Johnson on telegram with Coleman_Johnson or email he really good with his strategies.
:D :D :D I cannot stop laughting :D :D :D so entertaing, BRAVO and this video its also very educational !!! I personaly hear it first time ever that someone gives the true specific about the amount and how to get the final calculation, just as you are discribed in more details. Because until today I was honestly still confused about it.
Thanks Katerina! I hope this whole subject makes sense to you now, but if it doesn't, feel free to send me an email and we can make sure it's clear for you.
That's the truth, bro.
Oh no... 😖
The one thread on ur right shoulder is irking the hell outta me
I don't wanna be realistic now, I'll be in future videos xD
Lets make one million dollars in a week xD
I am trading low... LIke 0,02lots...
Just building my acc money... My margin level is 93% :(
I've just started... If I lose my money, now... I'll just have to invest more next time...
But before that, I'll learn with the demo ACC...
I'm really hoping that I'll not lose all of my money...
25 pip stop loss will almost always make you a loser, the volatility of the Forex market will almost always stop you out. I think you need to leave your trade more breathing room.
25 pip stop loss was just an example to keep things simple in the video. As mentioned, I would suggest using data from testing your system and tracking your demo account to calculate what your max stop loss is likely to be, purely for the purpose of figuring out your required capital - when it comes to actual trading, the stop loss should always be dictated by the setup, not any predetermined static stop loss size.
depends on the time frame your trading
That depends a lot on your strategy. There is no defined rule.
Not necessarily, scalpers don't use that big of stops that I know of. I don't scalp
We use from 3 to 10 pips max on 1m TF BUT and its a BUT ...you need to be a master of your strategy/ies. Know your %drawdown (on winners) and %gain before stopped out(on loosers). Data collecting needs to be serious and without emotional aspects.
my God ,how I wish to trade in Forex soon :(
Trading with top skill is paramount to achieving success in trading, I started investing with Mr Gregory Foster 4 months ago and I have been making weekly profits with him, he is highly skilled in all jurisdictions, I humbly recommend him to every beginner here looking to make profits from trading
You can contact him on WhatsApp
+1 3 1 6 3 3 3 7 5 8 9
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. :(
Xbot4Life What you said applies to stocks. What's being discussed applies to forex.
I don't have 10000 pounds to start is 1000 pounds good to start
As mentioned in the video, you will need to trade position sizes according to the size of your account and restrict the type of trades you will be going for. I wouldn't go any lower than £1000, because as mentioned, you will probably need at least £1250 to be happily opening 0.1 of a standard lot.
exactly. another over .10 would would be over positioning the trade for that account size. i tell people. You cannot trade a .50 position with 500.00 ....smh with 500.00 you can trade.01-.03 lol
What's your email📧 address? I don't understand enough to not ask.
just send a message via youtube. or you can ask here?
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 $100k because you went guns blazing into unfamiliar territory might end up in a divorce.
You can risk 1-2% per trade with 500. Did your broker not offer micro lots or something?
As a beginner, you’re going to lose a few accounts. Best to keep it small until you’ve proven consistency.
Thanks for the content! Keep it up 👌🏼
Fantastic video! I personally started with a 3000 dollar account, but I'm still doing it as a hobby and compounding my profits until I know I can go full time. It would also be worth mentioning what kind of lifestyle people have/want, where they live (cost of living), style of trading etc. that would also affect how much one needs to start trading.
how's your hobby going
@nPlatin que
So you need to make like 300% every year to make any reasonable money. That's close to impossible.
A really great video but one point that you mention in many of your videos is how you lost then made roughly 200K gbp in a week. of risking 1-2% per trade, you would of had to have 5-20mil gbp in an account. Where am I off? When you lost then made 200K gbp what was your trading balance? Thanks!
All aspirations crushed
Weak....if that crushed your aspirations then Forex wasn't for you at all
You don't have to invest 5k
If you trade mini lots
make your risk 4% you risk 20pips per trade You end up with a 500$ account
For 3% 666$
For 2% 1k i didn't add the 20% that he used but you get the point
Hope you have a nice day
Ps: mini lot = 0.1 standard lot
1pip=1$ or 1€ or 1£
@Auburn Aggie 88 5000? You need 100k minimum to be a PROFESSIONAL trader...if you don't have any intention to be pro like myself then do whatever you want with whatever capital u have
@@Ijaf98 Why do you need that much money to be a pro? Why 100k? I'd love to see some maths backing up these claims.
@@Ijaf98 lol what a tool
Bro if you didn’t make profit with 200$ don’t expect miracles to happen with 2000$. Just tell the people that you need to learn what you’re doing and don’t get into a risky account
NIce video, as usual, but I personally disagree on your considerations on the 0,01 lot trades. Open a small account, trading 0.01 lots gives you more learning than opening a 1000000$ demo accout. You may have to trade 0,01 lots for a year, sacrificing your time, but: is there anything that comes without effort? let's say you deceided to go to university to get an high salary job (you are not fit for tradidind because you need a fixed income, but this is out of topic) you will invest four to five years without earning and paying the fees, way more expensive that trading little amounts for as long as you need until you learn, but this is just my two cents...
Im a very poor kid right now, I have about 1 grand to my name and barely make any income, this money has taken me ages to get and I wanted to be atrader, I went to a beginners workshop seminar for trading hosted by "learn to trade" they were good at showing some ebasics but then offered a 7k course and it was all a scam and said i can make it as a trader starrting with just 500 pounds alongside their course, this guy is aweesome, love his content and he gives actual answers not bs fluff that doeesnt even mean anything and doesnt ive answers, just leaves you with more questions, love you bro
I was at the workshop myself...once they said the course was £7000 I just walked out
@@DontAskMePlease830 wow good choice, they aree a bunch of money grabbing thieves, which city did you attend? I was at the one in liverpool
@@jasfordedits been a year, how are You now? Rich yet?
You always have to ask yourself why trading educators are doing what they're doing. Where is the conflict of interest? Which broker is employing them? Why would someone create a winning trading strategy and then sell it? Why do they need to sell it?
it took me a few years to learn this lesson, if you're serious about trading you will save at least 15k before you trade and you will learn while you get the money or you will blow up small accounts until you realize that you need money to make money. Finally im starting next year with 20 to 25k to give myself a real chance at success. Don't waste your time and give yourself a real chance at success if you wanna give your money away feel free but what he's saying is very true. In fact if I ever were to trade forex I would come to him for sure just because he's the first person that doesn't say " with 200 you can be a millionaire bullshit talk" Same thing when you go to fix your Iphone X and they charge you $250, you think apple builds a 1k phone with 30 bucks in chinese parts? same thing with trading. Treat this as a business not as your personal gambling addiction
finding this now in 2017....
amazing
IGNORE THESE SHILLS POSTING CONTACT DETAILS FOR SOME GUY WHO WILL MAKE YOU RICH
The advice on the video is sound but these snakes who tout for business on these posts are to be ignored at all costs
And I would kindly ask Nick or whoever moderates the account to delete the 3 messages from the scam artists above
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!
Id like to talk about trading experiences. Do you have a tradingview acct?
to be honest you can start with only £250 and do small lot sizes like (0.01 - 0.05) then once the account grows you can do bigger lot sizes. it's more risky and it'll take longer but it works.
Night24 i agree
Dammit I wish I knew about trading years ago. I feel so behind 😫😩
i am a virgin to the stock market yet willing to be patient and take the time to learn. If you could retrain your younger self how would you begain the process and what would you read?
Funny you should ask that - it's actually the exact topic of one of our next videos. If you haven't already started on our free mini-series, I think that's a good place to start, so you can understand which areas are important to focus on initially.
Hi, which mini-series do you mean? Love your videos by the way.
The one you get by joining our free inner circle mailing list. Link is in the description box.
Can you put £50?
I'd strongly recommend having more!
- Nicholas
@Duomo: 1.) What Broker... 2) What platform/Software........3.) what market(s) & Financial Instruments U trading !?
so i need 2,000,000 kenya shillings to trade!? i beg to differ
It's all about your risk management
lmao
@@wanderandwork how can i reach you man?
@@wanderandwork Its called the power of Patience and loads of it ...consistence man
@pp bana 😂
As long as your risk managment is on the ball you can start with £500 or less and compound it... before you know it you have way more..
Exactly, only fool expects to be millionare after a month or so starting with 500 €. Let's take this scenario. YOu stard micro account (1,000 lot size) with 500 usd/eur/gbp. Risk 2% per trade for 50pips SL. So maximum of 0,2 € for a pip. 1 pip on micro account is 0.09 € so I can use lot size of 2. If you can manage to get on average 500-1000 pips per month it is 1000-2000* 0.09 = 90-180 € from 500 € startup. If you think it is too high then lower it to 250-500 resulting in 5-10% increase. You can double your account after 6 months if you will do it consitently and slowly rising lot size while risk remains the same soon your side-income can equal your primary source.
True
@@Cross8ow I don't even know what you just said can you help Me?
@@AkaNeymar google compounding.. you let your earnings work, unless you need to live from profits.
@@Cross8ow thanks
INVESTING 12,000 POUNDS AS A BEGINNER IS MADNESS!!!
I think maybe you missed a lot of the points in the video? We break down lower amounts too. Also, this is not necessarily about being a beginner or not, it's just about the realistic amounts you need based on certain lot sizes in order to only be risking 1-2% of your account per trade.
yeah i wouldnt consider myself a beginner, but ive lost a few accounts. So this video was useful to me to realise how much i should actually be risking per account size.
theres a reason banks only make 1-5% PA.
@@MyKnightlife I can give you 7.5% PA if you're interested. 0 risk
This is madness...this IS SPARTA!!!👨🏾🎤
Not really, what is a beginner anyway? You always need a few years of testing and reading. You shouldn't trade a cent in this phase. Also, this is about trading, not investing.
if you can grow 100$ too 200$ keep doing that over and over
I had a "Welcome bonus" of free $30 when I opened my account. I turned that $30 into $250 in less than two weeks (using just 0.02 lot trades). I got over-confident the started raising my bets, and of course blew it all.
So like was said in the video; yes you can start trading with $500 or even less, the point is your profits will be so small that you will want to start raising your lot sizes and increasing your risk, and it always leads to a 0$ account.
Having a bigger account allows you to take bigger losses (it sounds worse than it is), which also allows you to make bigger winners without stressing over the fact that two trades will clear our your account.
Good luck trading, and Merry Christmas to everyone! Have a Happy 2017!
update: Just finished watching the video, and you've just said everything I did LOL. Looks like our journey is quite similar.
I think when they give away these welcome bonuses, they're hoping for people to do exactly that! Thanks for commenting this, I think it's good for people to see that these things actually happen, because I'm sure some people will listen and think I'm just saying it for the sake of it and they will be the exception. It's harder than they think!
How did you manage to make such a flip with only 30$ using such a small lot size? Only 0.02? It s ridiculously small. You must be talented
Very wise words from a young head ! I deeply appreciate this video and, yes, you are the BEST Scrooge ever !! LOL !!!
Really good video Nicholas! Nice to see someone talking realistically about how much money you need to start trading.
Thank you sir :)
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 just started going live on stocks and began with a 1% risk profile. After losing many consecutive trades, I have brought it down to 1/8th of 1%! (about 12.5 basis points)
Feel much better now and can trade live while preserving most of my capital for when I finally get the hang of it.
1-2% should be your risk AFTER you have become consistent at making profit and growing an account for at least 6 months I would say.
Very on point, especially the psychological part when you trade small amount. It will be a waste of time and you will always end up losing all capital like it is nothing. 10k is a legit amount to start with, but only trade it if it is your excess money not for paying bills.
@Regena Paquet there is no 100% profitable trade, trade is a game of probability, find youself a trading edge and trade smaller amount each time. Play it defensively instead of offensively.
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.
nice bro, how you getting on now 9 months after posting this? are you profitable and if so what do you avg per month? just out of interest. is 30k enough for you to do it full time? :)
anthony carlin hes seen back at the daybjob
@@goldenstatew2399 😂
5k- 10k is enough to trade forex and make fortune in 10years
Bit of a blinkered view of trading for me, based solely on making 'Life changing sums'. Making £200 per month with a £1000 account is entirely possible. add compounding to that, and in 1 year you can certainly build to £9,000. This is risking no more than 2-3% on any trade. 1 year is pretty short term, continue to build for 2-3 years and you would comfortable be earning a decent wage.
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....
i know a couple hedge fund guys and they've all said the geniuses trade currencies. You should start a hedge fund!
It's hard for an investor cus you have to understand the entire economic and political landscape of a country (interest rates, inflation, FDI). Then you have to predict what those will be in the future. Then you have to understand what country in the same region's economic and political landscapes are and will be. And then the same globally! .
IS THIS TRUE ????????????????????????????????????
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.
Feel free to browse through the channel. We have well over 200 videos on here now. If you have any questions at any time, just let us know!
Nicholas I wish you were trading Stocks not forex :(( why do you prefere Forex over Stocks?
Thanks for your vid, very informative. perhaps consider using a white board. you go through a lot of numbers in your vid and it's almost impossible to keep up since nothing is written. just a suggestion. I'm a newbee so tryna learn as much as i can
If I am able to throw 40k or even 10k pounds to a platform that doesn't guarantee a profit specially as a beginner that means im rich enough waste money and time in trading. So this tradings is just like past time for wealthy businessman.
As a beginner you should be using a demo account. Once you know what you are doing, taking calculated risks to earn money is just part of life - nothing guarantees a profit!
I've not watched every video on YT about this topic, but I can't imagine there are ANY better, and more genuine than this one.
Nicholas, my favorite Forex preacher, preaching the truth, and very realistic, that´s the way it is ! ¡ Saludos !
Hey, when you talk about putting 25 pips of stop loss, this 25 pips has to be from the precise price at the exact moment that i buy or sell and enter the trade, or I had to add some more value? Because sometimes it doesnt let me to put only 25 because it says that it has to ve more than 10 points from the market place, and i have to wait so the price to move in my favour, to put 25 bips of stop loss. Actually in an instante order trade it never let me put 25 bips of stop loss, I would like to know this 25 if they are taking in consideration the price that i enter in the market, (if i buy, the buy price ive entered) or the sell price (when i entered as a buy trade)? for example if i entered a BUY trade at 1.04071 and the sell price was at: 1.04045, my STOP LOSS of 25 pips should be 1.04045 - 25 or 1.04071 - 25 ??? If its the last one, then I always have to wait till the price move to my favour a little bit to place the stop loss of 25 pips.
The 25 pips was just an example. The stop loss will always depend on the specific setup that has led to you opening a trade and how you run your system. Please don't just use 25 pips as a static stop loss, it won't work out well for you.
Sounds like your broker has a minimum stop loss size, you need to find out what that is. The stop loss will always be applied to the side of the spread that you need to exit from. For example, if you're going long (buying), you will need to look at the sell price. If you're going short (selling) you will need to look at the buy price. Because that is the price you will be using to exit the trade and the stop loss is all about the trade exit.
With risk management you can start with even £250.
I know a guy who does high risk and started with just $20 and now he's at $9,000 in 3 months
What the hell. Can you teach me? This is mental
Sorry if you already explained this but how comes you're less likely to loose a lot of money if you invest more? Don't know about forex but usually with other stuff the less you invest in something, the less of it you'll loose? I'm 17, thinking about trading forex in a couple of years
To put it simply:
If you have a larger account, it means you can open position sizes that only risk 1-2% of your account per trade, since you won't struggle with the minimum position sizes set by the broker/market. For example, if you have a small account size and the minimum position is 1 standard lot, that may mean you're risking (for example) 20-30% of your account. This leaves you over-exposed and putting up too much risk.
It's also a psychological thing. The more buffer you give yourself, the less chance of you making rash decisions that will ruin your account.
When you start learning how to trade, it will all make a lot more sense to you. It sounds complicated the first time you hear it, but this bit is something you'll pick up on quickly :)
Aziza Kas trust me , you need money to make money, investing is letting your money grow .
Trade the best leave the rest.
If you want to learn trading, you can probably go with a 0.01 lot size , If you're willing to take risk 1% risk everytrade , then you're stop loss in 30 pips means , $300-350 account size is enough,
NOTE:- If you want to earn more you can go with a big accounts based on your risk per trade and stop loss
isn't it always been said it is good to invest low investment
Yes, we recommend a maximum of 1-2% of your capital per trade.
Don't we go by Lot sizes??? why does it have to be a standard lot in all these videos?? Yes a standard lot offers $10 per pip, but one can start with a mini Lot even though is $1 per pip with a 40-50 pips daily target...sorry maybe I am missing something but starting capital is always a factor in any investment and some of us are just aiming for a passive income. Saving 40,000-50,000 just to start trading is a buzz kill
Investing money with a regulated and licensed broker is one of the most important tasks of a Forex trader. Because there are more thousands of Forex brokers who don’t have any trading license and are not regulated. But Forex4you is one of the top rated brokers who have regulation and license from the Financial Services and Commissions. For their security and customer service system I like them most. They also allow all types of trading techniques.
I like this video, It's the painful truth
YEAH IF YOU RE KNEW ask yourself how you can increase your income at work. THen you ll have more money to put into your account. Leveraged ETFs if you understand trading then you can swing trade these and make good money but you need to know what you re doing. What I can tell you is that there s going to be a big trade for GOLD in 2017-2018 so get ready for it, cheers!
For securities,ETFs =>5K - 10k
For Forex 15k-20k because you re trading with leveraging
i love your videos man, compared to the other people you don't bullshit and you sound so real.
I live in South Africa, so talking about 40k usd, that is R560 000, that is a hell of a lot of money to us. even the 12k usd.
i worked at a church, so my salary was very little, it was R10000. that is 714usd. so taking all the calculations that you just spoke about, what would i have to start of with to make that R10000 a month. i will aim for higher after i get to this mark.
If you have a small account and you are not compounding your wins, trading small but gaining well then you can't learn through experience. I think its a good idea to start with 200 - 500 and just get used to managing your account and learning through reasonable low risk mistakes
I risk 3.5% ....but I only take 48 trades a year .........
In my opinion, high probability trading setup through chart screening in 4h&1D time frame (required technical knowledge). To Command Risk Reward Ration min 1:1.5 through calc pips to lose and realistic SL / TP (via support/resistance). Using how much pips to lose over total account balance to determine position sizing and ensure remain your risk appetite per trade say 1%-8%. Above all, please do not use leverage more than 1:50.
The gist is, you are managing calculated risk with discipline and execute with peace of mind because you know what you are doing and how much comfortable you dealing with risk in trading. You'll see the $$ flows in sooner or later, but only for those who have perseverance. - YJ
so are you gonna stop your stop loss a little bit below 1% /$400... if thats the case youll get stopped all the time and youll just keep loosing $400 for no reason!!
I died at 6:47 😂 peanuts into a mansion! Love the vid
Well, I agree my friend but the truth is that if you don't know what you're doing (when you're trading) THE LOGIC SAYS THAT there is no matter how much you risk because soon or later you will end up with empty account.
If I want to do it also in dollars following this example, would be the same amount: 12.500 USD for 1 contract? Or i should convert it 12500 pounds = 15300 usd?
great video i followed most of it but got lost a bit as well but i am going to watch everything u have put out so glad i found u on here binary option loli was just at the point of saying trading and me ?r done but i think i found u just in time so out with old and start again cheers
0.01 lot is actually very good for beginners. In this case, the beginner can lose longer and can learn more since he is trading longer. He is also learning the forex market the cheapest way. Beginners are expected to lose anyway so better lose the cheapest way possible.
appreciate the content but there was a woman whos a student of charlie burton who turned 200 into 12k or so within a year. then she funded her account with 200k and made 130k profit for the year. but appreciate the videos cause they are helpful bro! this is definitely one my favourite trading channels.
edit - also appreciate your honesty about blowing accounts. I think you needed to go through that process in order to change so I don't think it was a bad thing. You mentioned taking on too much risk, so I think that was the problem, not that the account was under funded. But because the way our minds work, the figures don't make sense. To trade x hours for a couple pounds etc.
right on point 100% correct
i would like to add tho, a negative aspect of trading small accounts coupled with minumum trade volume requirements of your forex broker
if you have a small account and go for 1% per trade, you might find yourself unable to trade larger time frames like daily , because the daily range of a pair is greater or sizeable with your stop loss
nice video , ty
You are so right, I've been going through the same process you describe. Trading too small an account, burning it out and depositing as much as I can afford every month. What your saying about saving it up and putting together a descent pot of cash is what I've been trying to convince myself to do. Looking at all my losses? I've really lost alot, had I saved up that money I could have a really good stack to trade from. Tiny accounts are really a waste of time. You don't have much connection to the money, the returns are unattractive and feel like nothing. You just want to be trading all the time to grow the account, and anybody who has been trading for sometime that's a recipe for disaster. Thanks for doing this video. Really helped to straighten my perspective.
This hurts to hear this lmao I dont understand how a 1K GBP account cant work ?Obviously not making millions but maybe like 20-30 GBP a day ? Then you slowly grow your balance? Am I missing something here ?
There are minimum sizes for most contracts. Also FX traders don't have this limitation but they overleverage like imbeciles, losing it all quickly.
Also, like he says, most people cannot care about making 50 cent profits, even though percentage wise it might be the same as $500 of another bigger account. Losing 0.50 is whatever, losing $500 is something.
ItsRauben you’d be making 60% per month ROI if you was making 30gbp on a 1k account.. that works out at over 700% a year ROI.. it’s just not possible.
You can make 3-4 percent a month which includes drawdown factors and that would be considered a very good trader with risk management, money management and using advanced Patterns and years of experience reading price action.
Obvs not for you lol
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.
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.
I think its in the management. What leverage. What your exposure in percentages per trade.
Over trading. over leveraged. over position size. adding to loosing trades. not keep your stops in place. has to be something with discipline you may not be sticking too.
lol with risk management and good money management you can never blew your account.
Regardless how bad you trade.
So If I do this in USD it would be: 50.000 / 2 = 25.000, / 2 = 12500. + 20 % of drawdown, about 16.000 USD to start trading with 1 lot, is it ok Nicholas?
£50,000
1250 is reasonable and trading 0.01 is like that plus you can waste you time trading it
Good point on your sizing calculation
Thanks from Alappuzha Houseboat