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So you have $50k to start trading with? Great start with $5k.
$100k? Cool, start with $10k.
If you are just starting with little to no knowledge of the markets I’m telling you right now, more money does not mean a greater chance of success.
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$100k? Cool, start with $10k.
If you are just starting with little to no knowledge of the markets I’m telling you right now, more money does not mean a greater chance of success.
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If you’re like 99% of people who first start, you WILL lose money. You WILL be unprofitable starting out. There WILL be a learning curve you experience just like everyone else. There is no point in making your learning curve more expensive than it has to be.
Two beginning traders can start trading, one will lose $10k on his first trade and one will lose $100. Both have the ability to learn the same lesson but one is learning it at a fraction of the cost.
There’s also an emotional limit to what you can handle and some people don’t even run out of money, they just run out of confidence or emotional stability to keep going from losing too much too soon.
I’d much rather see a trader blow up 10 $5k accounts than one $50k account.
I’d much rather see a trader blow up 10 $5k accounts than one $50k account.
Cause each blow up would at least come with a few lessons. One $50k blow up and your first one at that, most people won’t even know what hit them. That’s an average full blown salary right there, just not worth it when you can learn the same lessons at a fraction of the cost.
And no one give me this “i’M UnDer cApiTALiZed” bullshit. If you don’t know how to trade, you don’t know how to trade. An extra $100k isn’t going to change that.
Now of course trying to trade with a $500 account, good luck. That’s incredible difficult as well. But you don’t need to start with $50-75-100k either.
A few thousand at the low end I personally think is a good starting amount to give you the best chance of having a cheap learning curve and avoiding any chance of emotional scaring that’s unrecoverable.
