Day trading Little cash , teen needs serious input , simple

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chanika
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Day trading Little cash , teen needs serious input , simple

Postby chanika » Sat Feb 05, 2011 6:14 pm

I want to day-trade I have little money for playing around 1100 dollars. I have heard lots of different things, like u need 25k. I have also heard you could have 500 bucks. I need to really learn the basics I mean I have my own perspective on it but i have never tried this before. I am more of a wheel and dealer I buy everything and anything I see profit in from, cars ,instruments ,electronics , atvs and that is my source of income like I bought a 92 firebird last week for 150 bucks I sold it this week for 5oo, I traded something that I paid 75 bucks for , for a gibson les paul which anyone who knows a real les paul is worth at least a grand fortunatley my flow in other items has been working so i am still playing this one lol . I am honestly a hustler I have never taken a loss worth crying over but I have made plenty of profits I mean I am 19 I have around 30,000 in assests acquired by myself no help .I am not worried about losing money I just need to be able to read the charts.

+++++++++++++++++++++++++++++++++++++++++++++++++

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Nikitafx
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Postby Nikitafx » Sat Feb 05, 2011 6:55 pm

there will be a lesson session soon on the 0 to 17k thread soon. Or u can try TROs threads also.....but if u want to learn how to read charts then the 0 to 17 k thread is worth watching
Trading is a science as much as it is an art.

Its Not Nuclear Science.

I am an Non-certified Currency Analyst / Trader

Nikitafx
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Postby Nikitafx » Sat Feb 05, 2011 6:58 pm

on the part of amount to invest, the most one should risk is 1K USD. Start with a micro account. If a trader cannot build on that then I dont think that trader knows how to trade. Either it grows or it doesnt. It has nothing to do with the amount.
Trading is a science as much as it is an art.



Its Not Nuclear Science.



I am an Non-certified Currency Analyst / Trader

johnton
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Postby johnton » Mon Feb 07, 2011 6:22 pm

u came to the right place, read the "drain the banks like a rat" thread, basically u wait for price to make a daily low, then you wait for a green candle to close, then u trade off the hi of that candle. also go to the 2 percent club on paltalk if u want quicker answers to ur questions. download metatrader and start watching the mkt in real time so u can get a feel for price action, tro has plenty of free indicators and templates on here to help u get ur charts set up

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Re: Day trading Little cash , teen needs serious input , sim

Postby jtl » Tue Feb 08, 2011 2:04 pm

chanika wrote:I want to day-trade I have little money for playing around 1100 dollars. I have heard lots of different things, like u need 25k. I have also heard you could have 500 bucks. I need to really learn the basics I mean I have my own perspective on it but i have never tried this before. I am more of a wheel and dealer I buy everything and anything I see profit in from, cars ,instruments ,electronics , atvs and that is my source of income like I bought a 92 firebird last week for 150 bucks I sold it this week for 5oo, I traded something that I paid 75 bucks for , for a gibson les paul which anyone who knows a real les paul is worth at least a grand fortunatley my flow in other items has been working so i am still playing this one lol . I am honestly a hustler I have never taken a loss worth crying over but I have made plenty of profits I mean I am 19 I have around 30,000 in assests acquired by myself no help .I am not worried about losing money I just need to be able to read the charts.

+++++++++++++++++++++++++++++++++++++++++++++++++

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Helpful to know to be successful with little cash daytrading fx and little experience:

The power of compounding and leverage is outstanding. $1K is more than enough to start with.

If you over focus on risk to avoid risk, you will experience what you fear more than what you desire.

It is easier to predict the nearest future than what will happen far from now. All we do in this business is predict. ?If I get in at this price and go this direction, I will make a profit? and put money behind it.

You don?t need to read anybodys book to learn how to read a chart. Download MT4, pick a time frame. I recommend the default in mt4 which is H1. Watch this chart and only this chart, zoom in, zoom out, learn to observe what is happening now, how far price is moving per unit of time (bar), watch it dance.

The only tools I recommend adding to a chart right from the start are something that shows the numerical value of the average true range (ATR) of the bar you are trading. And an adjustable tool that plots lines every x number of pips (sweetspotsgold is one). They are great to play with to help you see how far price moves back and forth each bar as it dances on the chart. And something that magnifies the price (magnified market price is one) to help you see the price. All found free through google and probably this forum too.

Pick a pair great for daytrading?.id recommend the lowest average spread and most liquidity and focus on it. 1 example is EURUSD

Setting a time or window to trade and focusing on it is very helpful in developing your understanding and discipline.

Set a target number of pips to win per day, and set a max number of losses per day. While you learn these will be your reset points to help you learn to step away. When you are done for the day don?t look at another chart until its time to trade again.

You can make outstanding money trading any pair and any chart. The above is an example of one route. Your trading will be as simple or as complicated as you make it.

Give yourself time, focus and improvement a chance. I?ve seen too many people miss millions in their own yard while focusing on pennies over a fence that blocks half their view.

Be careful what you take as law, be your own leader, and learn how to observe your thinking- where it helps you and hurts you- and learn how to control it. If you don?t the media will.

The four minute mile was not broken for so long from lack of belief, not ability. You can profit every single day you trade if that is your desire and belief.

Go have fun

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Cmoss
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Re: Day trading Little cash , teen needs serious input , sim

Postby Cmoss » Thu Feb 17, 2011 3:46 pm

jtl wrote:
chanika wrote:I want to day-trade I have little money for playing around 1100 dollars. I have heard lots of different things, like u need 25k. I have also heard you could have 500 bucks. I need to really learn the basics I mean I have my own perspective on it but i have never tried this before. I am more of a wheel and dealer I buy everything and anything I see profit in from, cars ,instruments ,electronics , atvs and that is my source of income like I bought a 92 firebird last week for 150 bucks I sold it this week for 5oo, I traded something that I paid 75 bucks for , for a gibson les paul which anyone who knows a real les paul is worth at least a grand fortunatley my flow in other items has been working so i am still playing this one lol . I am honestly a hustler I have never taken a loss worth crying over but I have made plenty of profits I mean I am 19 I have around 30,000 in assests acquired by myself no help .I am not worried about losing money I just need to be able to read the charts.

+++++++++++++++++++++++++++++++++++++++++++++++++

professional seo company |
professional seo



Helpful to know to be successful with little cash daytrading fx and little experience:

The power of compounding and leverage is outstanding. $1K is more than enough to start with.

If you over focus on risk to avoid risk, you will experience what you fear more than what you desire.

It is easier to predict the nearest future than what will happen far from now. All we do in this business is predict. ?If I get in at this price and go this direction, I will make a profit? and put money behind it.

You don?t need to read anybodys book to learn how to read a chart. Download MT4, pick a time frame. I recommend the default in mt4 which is H1. Watch this chart and only this chart, zoom in, zoom out, learn to observe what is happening now, how far price is moving per unit of time (bar), watch it dance.

The only tools I recommend adding to a chart right from the start are something that shows the numerical value of the average true range (ATR) of the bar you are trading. And an adjustable tool that plots lines every x number of pips (sweetspotsgold is one). They are great to play with to help you see how far price moves back and forth each bar as it dances on the chart. And something that magnifies the price (magnified market price is one) to help you see the price. All found free through google and probably this forum too.

Pick a pair great for daytrading?.id recommend the lowest average spread and most liquidity and focus on it. 1 example is EURUSD

Setting a time or window to trade and focusing on it is very helpful in developing your understanding and discipline.

Set a target number of pips to win per day, and set a max number of losses per day. While you learn these will be your reset points to help you learn to step away. When you are done for the day don?t look at another chart until its time to trade again.

You can make outstanding money trading any pair and any chart. The above is an example of one route. Your trading will be as simple or as complicated as you make it.

Give yourself time, focus and improvement a chance. I?ve seen too many people miss millions in their own yard while focusing on pennies over a fence that blocks half their view.

Be careful what you take as law, be your own leader, and learn how to observe your thinking- where it helps you and hurts you- and learn how to control it. If you don?t the media will.

The four minute mile was not broken for so long from lack of belief, not ability. You can profit every single day you trade if that is your desire and belief.

Go have fun


this is an awesome post.

xtremeforex
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Postby xtremeforex » Fri Jun 03, 2011 10:34 pm

First, you're not 'playing' around with $1,100. Your attitude in this business if that of a gambler, a losing gambler. Gamblers post on babypips - not here.

$1100 is not enough capitalization for the type of profit a newbie is expecting without eventually losing. Keep saving until you have at least $10,000 and - you can wait - because you have plenty of demo-practice ahead of you.

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dojirock
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Postby dojirock » Sat Jun 04, 2011 5:07 am

Extreme,

I believe this thread is dead.....This group I believe has left already...

doji :D

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