How much money do you need to make a living from trading?
HTML-код
- Опубликовано: 8 июн 2024
- ✅ Trade with our Sponsor Broker: TradeNation www.financial-spread-betting.c...
✅ Please like, subscribe & comment if you enjoyed - it helps a lot!
How much money do you need to make a living from trading? Steve Ruffley, day trader comments. Unless you start with 5k, just don't bother. Most traders end up getting wiped because they are undercapitalised - put it this way; which business would you start with less than 5k capital? I would recommend you put in more like 25k to 30k to start with but everyone of us have different circumstances so this may not be possible. But at the end of the day it takes money to make money.
Do you believe in diversification? Risk a little to make a lot. They call it asymmetric risk/reward but is this realistic?
Guys, please appreciate this guy is a day trader, meaning he holds and sells positions for very short periods and as such his methodology may be different to others.
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 Trade sensibly! 81.7% of retail investors lose money.
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
Making a living out of trading is not about how much money you start with, it is about how much Knowledge you start with.
I believe Knowledge is key, knowledge of your market from a technical view point because all the inside information is hidden within the numbers a market produces.
More information is hidden within the market numbers then the so called insiders could ever know, understand technical analysis.
Darrell Webster you have a point! what advice would you give to an inconsistent trader? I guess everybody can make money but only few people are consistent. techniques and tools and thinking. anything is appreciated.
Darrell, I have seen your comments on a few videos and you always seem to offer very down to earth and simple advice that applies not only to trading but life. I am an accounting major who wants to start learning to invest through long term positions as the main percentage of a small portfolio but I also want to start gaining knowledge in more short term positions such as FOREX. Do you have any book recommendations to start learning a systematic way ?
"Making a living out of trading is not about how much money you start with, it is about how much Knowledge you start with. " = SPOT ON!!
If you know nothing and start with £10,000 you'll probably do worse than the guy who has done his research and gained the knowledge yet starts with £100.
• My personal opinions:
- Maximum risk per trade, 2%
- Realistic expectations, 5-10% per month
The problem with "making a living" as a trader is compound interest. Once you start taking money out of your trading account you are no longer compounding your interest.
I like this guy, I have been a trader 10years and he is telling like it is. You need to be adequately capitalized. trading is a Business, not hype like many youtube educators.
Hmm so you can take 25k and expect a 20% return according to this dude but using the same strategy you can’t take a 2.5k account and also make a 20% return... wtf?!?!?! I understand living incomes and the need to have a good amount in but taking a small account and building it to that 25-50k and then living off it is not delusional otherwise the whole thing is delusional. He contradicts his own main point.
Completely disagree with throwing five grand in the stock market with no trading knowledge start small and learn
J T We agree...Any profitable strategy should work whether you turn £500 into £5k or £5k into £50k. All traders need to have a training plan, step1 proove u are consistent and profitable...every new trader should go thru initial trading phase (build an asset: turn initial £500 account into £5000) then STEP2: use your skill to make money... each pro trader should go thru trading phase (build cashflow from assets: turn £5k into £10k every week or period). Steve Ruffley IS A PRO, he's not advising how to move from new trader to pro trader, he's advising how to be a pro trader only.
Delusional ? My friend has turned his initial £500 deposit into just under £12,000 in 4 months...
This guy is dealing with large money because he has a lot of money. Don't let him put you off. Only risk what you can loose
PRECISELY! Only Risk what you CAN lose, also STUDY STUDY STUDY prior to trading. LEARN the various trading strategies and see which one suits you.
Yeah? How come he didnt turn that 12 grand into 1 million?
You can get rich with $100 but it will take a long time. The sky is the limit when you really take your time to learn price action.
let me clarify something here: this guy is talking about STOCKS. when you use leverage accounts with strong technical analysis and risk management skills youll easily make a living with 1k usd to start...if youre good about 50 to 100 dollars a day...then you just keep compounding the account untill youre making 300+ per day with about 5k account...
Is not about the money you start with, is all about the personal skills and knowledge you have achieved from the market before starting, if you don't make money with 5000€, you won't make money with more.
yes, this guy is spot on in my experience. People with small accounts over leverage and then don't have enough equity when trades go against them to get into other good trades.
Biggest mistake in trading is to try to come up with that “ magic “ number as how how much I can make a day average .. Instead ask yourself how many successful trades could I have a day if I improve my game , and then the answer will be given to you without you asking ..
youngest trader started with $500 and is a millionaire now ...i believe knowledge is the key not capital
Once you understand the market.... you would no longer ask this question.
There is no such thing as making X amount of money "a day" in trading. That alone discredits him as a trader. If you want regular income, then buy a bond or rent out real-estate. But don't trade.
Taking big risks can bring big rewards but it can bring big loses too. The former is no more guaranteed than the latter in my view.
This guy is way too anti for me
I agree with Darrell. Knowledge IS key. Get experience BEFORE you "take the whole lot" and become a trader. The gentlemen being interviewed is an every-day, hands-on trader who gets in and out as needed. Most people will not be equipped to do what he does, so they will need to take a different tack, entirely.
Though I dont subscribe to his angle/strategy points completely, it certainly is a refreshing and honest perspective to take note of.
Start with a Demo account, yes you are not making money but the knowledge you will get will serve you well.
"if you are going to start trading with a small a/c and build it up you are delusional...chortle chortle" - what a gem, is this bloke for real? Oh no trading is there "to make a living"!!!!...., surly the whole purpose of trading is to build an account , if you are going to negate compounding then you are negating the the NO.1 weapon you have. Just checked another vid- he does not use stops- why am i not shocked.- ah- he's from a intertrader , ok all makes sense
Damn she's fine.
Looking pass his assertive tone, the message is good to me.
#1 Rule of trading: Stay in the Game.
Simple answer- 20k to 25k will be enough to make a living, assuming you are making atleast 1 percent per day. Give or take higher days, and losses, you can make 200 hundred a day if you make 1% On that 20k. That's minimum percentage you should be making, or you might as well invest in mutual or index funds since those will ultimately do better then you in the long run
I don't know enough to agree or disagree with this guy's answer. I am impressed that he answered it. Finally a straight forward answer to a straight forward question.
My respect for mr Ruffley. Never seen a scalper who is so straight and honest about this business.
You need substantial funding and your job is to control multiple short time spans with very high risk to make your daily profits while stoploss is only there to avoid a total disaster and should never be hit unless it is in B/E or profit... It is the total opposite of what almost every RUclips trader tells you.
start with 100 dollars . Play with it for a while and if you can grow 100 to 1000 than you can move on to 1000 into 10000 and so on .
really enjoyed this video...real straight talking Steve, and resonates after my experiences in trading
1% of your bankroll per trade and win consistently. Win consistently is way more important than the amount of money. Get that system working and the money will increase over time. Anything else is putting money in a slot machine.
I get the impression he’s trying to impress the interviewer with his brazen talk.
i like this guy, and your channel, such a different array of views all round. thank you guys.
I started with $1500 bucks, I now bring in about 6k a month minimum. Sorry bro but your wrong.
The controversy is the way he addresses the subject. If he was just talking about himself - ok. That's your style and go for it in a very risky fashion but giving other people advice like that seems in many respects funny.
I started with £100 to invest and made profits and have reinvested them into stocks with dividends and its only been a week and made profits plus a dividend pay out and its growing slow but surely....the key is do your research and that will tell you what to invest.
I grew a 1000$ account to 78k in a year.
I started my business for free because I won $3000 of assets in a contest. So I think the level bar really depends on how hard you want to work. For him, it's not worth doing any work for less than that, because of the gains he has seen. But for someone starting out, with drive and intelligence, you can turn much less than 5k into much more in a few months.
Comment section guys are so delusional,every one has a friend who made millions with 100 Bucks lol
slightly misleading, believe me £500 is more than enough to earn £60 - £100 a day
It depends on your strategy ,whether or not you even have one , and your mindset. You can place 0.1 LOT SIZE trades with as little as a £500 or $500 account as a complete beginner , the thing is though, because a 0.1 lots size trades means you are risking £1($1) per point (pip) in price action , if the market went The opposite way to which you said it would , if you have a £500 account , you can only afford to lose roughly 500 points before you blow up your account and lose all your money. People lose in trading becsue they don’t know what they are doing and treat tradìng like gambling. Learn about how the markets work ,Get educated!!! Anyone can do it. Learn about candlesticks , technical & fundamental analysis , what makes the market move , support & resistance , supply and demand zones etc etc. That’s where the money is.
Compound interest.
The only thing that makes trading worth it.
Turning £500 into £12,000 in 4 months is not trading, it's called gambling! ...Unless your"friend" used not more than 1-2% of his account and he traded day and night which means his total traded volume (with compounding of course..) must have been 100 times bigger than his profit, ...and don't forget you don't only win but you lose also. You try to put 5% on each trade and lose 6-7 in a row and see how much you have left. The first principle is capital preservation: I'm ok with losing 1% several times, I'm not ok losing 5% each trade in order to make quick money.
You can't set up a small flower stall for less than 5k? Oh well... There goes that dream.
He is right, one should differentiate between trading for living and trading for fun.
OK Boys its Time to get Real. Risk vrs Reward on every Trade is all that Matters. Problem is most can'y even measure True Risk!
£25k account and £100 a point? Really? That's a death sentence on your account.
a rich man tells it the way it is, poor people comment about how he is stupid. awesome ;)
How do you even know if he's rich? I didn't see any bank statement myself.
I know a guy that started with 100$ n now he is a multi milionaire
its all relative if you cant show profits using pennies over 6- 12 months you wont with 100.000 s. practice and gain experience first and build up a profitable upward curve .Its about mindset and money management
Day traders oh..those daredevils haha. So much adrenaline. Not my cup of tea, but thx for the video anyway. What I like about this channel is that it shows you all the angles of trading. You can adhere or not. It’s your choice. Though the fact it is not censored is very valuable.
3:45 was that a shot fired at anton kriel lol
So I think it's good to have asset you can leverage to access ~£25K of capital, but if you start off with this much money and aim for 5 to 20% profit a day, you're just gonna lose all your money as a beginner trader. What has been working for me is starting off around £5K and continuously growing my position size in small but consistent chunks as I gain more experience as a trader. There are videos out there of beginner trader trying to start their account off with $300K USD and immediately losing it all. No amount of money guarantees you a return. You have to see for yourself what you can achieve with the strategies you come up with to have an idea of what kind of return to expect.
$500 a day on a 25k account is only 2% a day which is very realistic because you shouldn't even be risking more than 2% a trade. Even if you lose a couple trades that day you should have a T1-T2 so you can easily cover loses. you can prolly do that risking 1% with a good strategy.
I think it is as in all walks of life trading is no different , you do need to adhere to a set of principles and have a consistent approach; however everyone is different and they have different tolerances. If you are comfortable with risking 15% of your bank then you will make more money than say if you traded 1-2%. I think the guiding principle of all trades is to consider how much you could lose and your strategy for managing that loss if required, always approach your trades this way and you will be more successful.
Uk with 30:1 leverage. 100 pounds will only give you bad habits. You need atleast 2k - 5k. He is not wrong. Most people want to make 100 turn into thousands. You get in the habit of risking more capital and just bad habits. I stopped saving for a real balance and depositing more to get to 5k
I'll give an example using the Oil market and will be speaking in US Dollar terms. The current margin for Oil futures, CL, is about $2.2k and if you have a discount broker you can trade this instrument for as little as $600/contract. Each penny or tick fluctuation in WTI Oil is a $10 fluctuation in your PnL. As a result, if you were to trade just 1 contract and earn say 20 ticks per day, you'd be earning about a 10% ROI, since profits after commissions would be around $190. If you did this every day, never compounding, you'd earn about $48k/year. In most areas of the US, for example, this is about the median household income. Obviously this income also scales, so if one were to increase the position size to say 2, you're now earning $96k a year, 4, you're earning $192k, etc.
The critical mistakes most people make, and why most people fail, is that 1) they over-leverage their position size with respect to their account balance, then don't use proper stops considering their risk parameters 2) they get greedy, deviate away from earning 20 ticks a day, start trying to earn more, then inevitably start losing more [no strategy has an edge if you're in the market all day long, holding the same trade all day long every day], then encounter psychological trauma due to the drawdowns and losses.
If anyone actually wants to become a consistently profitable trader, you should only be using 1 contract for every $10k-$20k you have in the account. Never add to losers. Stop out at invalidation points and not arbitrary levels -- don't keep tight stops.
I now make a healthy living with a £25k any profits i take out and save but account always at £25k
love this guy, yes thats the way of trading
This guy sounds more like an addicted gambler than anything else. No credibility whatsoever.
You don't need 50k to make a living. you could easily do it with 5k.
Jairo B Exactly! The forex "guru"
I can turn £50 to 5k. You don’t need big amount of money. No one will give you the best strategy they learnt. This took them risks to learn and time and all the loses. All the lonley pain taking risks! So you learn your self! No one will give you anything free unless you bring something to the table
This is relativistic depending on your living expenses.
I would agree with 4 years experience like don’t even think about it with less than 5k.
I found his answers unhelpful and condescending. Condescending begins with a C and I would describe Steve with a short word that begins with the same letter but finishes with a T.
He has a point here. You can have 1% or 2% stops or just be way to conservative. Learn and accept the drawdowns.
this guy knows whats up
He makes 5-10% every day... Just use your brain and calculator!
I totally disagree with this guy!
He's very honest and i love that!
So I started a year ago watching videos, educating myself and trading on a demo account. I was done with videos about how much money to day trade the first week. Now I come here to see how much I need to day trade for a living. I have always though 50K was quite much enough. Now I fear it is more like 100. Of course I won't give up and even if I would not quite manage to get to 100K I will still have a side income.
Feels like I am a desperate idiot coming here and searching for confirmation. Like please let me trade for as little as possible to make a living out of it.
4:33 what did he mean here the video finished, does he say not to use low 2% because you will never make money?
The way he trades is riding the big waves etc and comfortable trading at both ends of the swing
When a person understands all aspects of how the market operates and the parametres it exists within and is limited by it becomes easier to trade comfortably with confidence and make profit from the stockmarket irrespective of any current market conditions at any time due to the ability of a person to use their trading strategy to trade the market having assessed the market prior to trade it each time a person trades the market etc
Before you even consider trading for a living you really have to take the time and develop your skills and mental fortitude. When you first start out, start small enough to not get emotional with every trade. In time you will build the necessary skills and your mind will get used to the increasing $$$ as your account grows.
its not about your money.but your performance in trading
$100/day is totally achievable with spreads and keeping the delta over .60 and having enough data points(lots of trades).
Who's the sloothie interviewing?
Wowzers..
Interesting video too
Depends on what you are trading, right? Getting started in Forex or Crypto you can do for a lot less than 5000
love this guy. tells it like it is.
Patience and consistency to compound your returns is a far better approach. If you can create a positive equity curve over the course of YEARS. Then the world is your oyster.
20% a day. Yeah that sounds realistic. .
trading and entrepreneurship are very very different. one can in fact start a business lean with just 1 grand (test, iterate and evolve).
"make living" is subjective
these guys are mostly looking into daily grands when talking about profits, they forget that most people are make living with minimum wage, for them make living = growing bank
If you know what your'e doing and you are consistently making profits then you are able to turn a small account(even 100$) into a big account in no time, but if you don't have a single clue how the market works then there is just not a single point to start with a 5 grands and blow it all the next month, so what he's saying is complete bs IMO.
I completely disagree with this, Actually I'm my opinion if you start with a small amount you might be more inclined to make more safer trades. If you were to start off with £500 and made 2% a month after 5 years you would have over £50000. Tell me any kind of invest that could make that kind of return in a 5 year period. Trying to make 15-20% a day is complete rubbish in my opinion. Start off small and treat it long term by gradually increasing your account size
True 25 k - 15 k a month off 2%
500$ a day - save it cash out towards. The end of the month ..
Easily but yes you do have to put the work in it .. True you can't go in with the mindset of loosing your money think of it with as a learning experience don't give up learn and improve your skills .. I wouldn't start at 25 k
Your asking for it then you shoukd start with at least 1,500 if you want results !
5,000 - 20,000 pounds?! This is dangerous advice. Only trade with what you can afford to lose
1. PAPER TRADE FIRST for at least 6 months!
2. THEN trade with real money but only a small amount (say $100) until you get a feel for what it's like trading with real money. The emotions you feel are different when paper trading vs trading with real money.
*3. You can't even begin to say you want to make a living off trading UNTIL you have been consistently profitable with the $100.*
Whatever you do, please don't start with 5 grand!
Apart from the lack of knowledge beginners don't have, I'd say one needs at least 225.000€ to make a comfortable living from trading!
You can trade spot then with not a lot of risk. Still, if you do your 25% per year then, you are actually earning not that crazy amount of money.
I start with 750£ and making 80£ a day and now I got 13.000£ after 1 year
Awesome... I am a trader and I know and agree to most what he said... Its real..
fair play to him, he sounds like he is being as honest as he can be. cant see his name though.
No nonsense, good advice. God bless you, Steve! M
i started with 50 bucks and i made 1300 in less than a week,
$50,000 is about right to start with.
I agreed with he says that fast profits.
haha, i started with 1k but im not tryn to make a living, im just tryn to learn and get my confidence build up
...he’s absolutely correct.
I started with $200. You know why? There's no overhead ! Start with whatever you can afford to lose.
I use about 16k to make $500 per day.
Agree 100% with that... Tell people that they need $25k-50k to trade for a living and you'll get hate. However, that's the only way to truly make it happen!