Beginner Looking for some Opinions

[effervescent]

Hey all, forgive me if i'm posting in the wrong forum and if redirected to the proper forum. Looked around for a beginner's forum area but couldn't find anything.

I'm trying to get my hands dirty in Trading but the biggest issue as with any beginner is having the starting funds to do so. I have about $5000 for trading to start with and looking for a way to begin. I've heard conflicting information on whether I should start instead with $1000 solely for learning purposes and expect to lose that.

I'm not looking to get wild profits or anything in a short amount of time. My goal would be to learn to at least break even within a year and probably read/research for 6 months without even putting in money into an account.

My question is $5000 okay to start with, granted I did a whole lot of research and practice, and increase my funds through that? I'm not looking to live off trading as I will be doing this part time with another part time job.

I'm also really interested in swing trading but turned off because some have said you may have to have a bigger balance initially than you would need in day trading to make the same amount. Is this true?

Thanks for the input.

 

[brettly]

$1000 is enough,.. general rule of thumb (for me at least) only risk 1-2% per trade.

Plenty of posts on here that hint on "how much you need to start".

Question is how much you profit or lose over the 6-12 months.

Even +$0.50 a trade is profitable.

 

[CityMasterTrader]

Hey all, forgive me if i'm posting in the wrong forum and if redirected to the proper forum. Looked around for a beginner's forum area but couldn't find anything.

I'm trying to get my hands dirty in Trading but the biggest issue as with any beginner is having the starting funds to do so. I have about $5000 for trading to start with and looking for a way to begin. I've heard conflicting information on whether I should start instead with $1000 solely for learning purposes and expect to lose that.

I'm not looking to get wild profits or anything in a short amount of time. My goal would be to learn to at least break even within a year and probably read/research for 6 months without even putting in money into an account.

My question is $5000 okay to start with, granted I did a whole lot of research and practice, and increase my funds through that? I'm not looking to live off trading as I will be doing this part time with another part time job.

I'm also really interested in swing trading but turned off because some have said you may have to have a bigger balance initially than you would need in day trading to make the same amount. Is this true?

Thanks for the input.

It all depends how big you want to trade, how much you are prepared to lose/wanting to make on each trade. There’s no right or wrong, only you can decide what’s right for you. Research initially to see what your provider will charge for each trade then you can decide what you need to make to cover costs and make a decent profit. Then you can see what you need to start with. Be realistic about how many trades you think you will get right and wrong. Beware some providers offering very low costs but the bid/ask spread might not be great (that’s where they make their money). Try a demo account for a few weeks but only use an amount similar to the funds you have - no point getting used to trading 100,000 if you haven’t got it. Read, watch, take your time. Good luck.

 

[timsk]

Hey all, forgive me if i'm posting in the wrong forum and if redirected to the proper forum. Looked around for a beginner's forum area but couldn't find anything. . .

Hi effervescent,
Welcome to T2W.

When you joined, you were sent an e-mail with various links in it. Have you read them? That's where all your questions - and much more besides - will be answered!
Tim.

 

[Splitlink]

Hey all, forgive me if i'm posting in the wrong forum and if redirected to the proper forum. Looked around for a beginner's forum area but couldn't find anything.

I'm trying to get my hands dirty in Trading but the biggest issue as with any beginner is having the starting funds to do so. I have about $5000 for trading to start with and looking for a way to begin. I've heard conflicting information on whether I should start instead with $1000 solely for learning purposes and expect to lose that.

I'm not looking to get wild profits or anything in a short amount of time. My goal would be to learn to at least break even within a year and probably read/research for 6 months without even putting in money into an account.



My question is $5000 okay to start with, granted I did a whole lot of research and practice, and increase my funds through that? I'm not looking to live off trading as I will be doing this part time with another part time job.

I'm also really interested in swing trading but turned off because some have said you may have to have a bigger balance initially than you would need in day trading to make the same amount. Is this true?

Thanks for the input.

There was a debate yesterday, on a long thread, that may interest you.

How I trade forex and make a profit.

Go to #136 and read on for a few posts,

Good trading.

 

[NVP]

its not money that is the problem in the early days dude .....its lack of knowledge/experience

try to hang onto the former whilst increasing the latter

N

 

[Clovis Fish]

Hey all, forgive me if i'm posting in the wrong forum and if redirected to the proper forum. Looked around for a beginner's forum area but couldn't find anything.

I'm trying to get my hands dirty in Trading but the biggest issue as with any beginner is having the starting funds to do so. I have about $5000 for trading to start with and looking for a way to begin. I've heard conflicting information on whether I should start instead with $1000 solely for learning purposes and expect to lose that.

I'm not looking to get wild profits or anything in a short amount of time. My goal would be to learn to at least break even within a year and probably read/research for 6 months without even putting in money into an account.

My question is $5000 okay to start with, granted I did a whole lot of research and practice, and increase my funds through that? I'm not looking to live off trading as I will be doing this part time with another part time job.

I'm also really interested in swing trading but turned off because some have said you may have to have a bigger balance initially than you would need in day trading to make the same amount. Is this true?

Thanks for the input.

Doesn't matter how much you start with or what style of trading or timeframe(s) you choose. Limit your risk as far as is possible within constraints of contract size and broker minimums. Do not increase risk until you are consistently avergaing a profit over at least 6 months, preferably 12 months.

Tale pleasure is taking small losses - kill them before they hit your stop and get used to doing that. It'll pay you, quite literally, over the long run.

Do not take crumbs when offered. Always aim for a good slice of the action. Get used to taking off some of your position rather than all of it when you start getting anxious. The remainder left to run on, no matter how little compared to your initial size will give as much pleasure in their eventual extent as the profits you banked early on in the trade. There's financial success and intellectual success.

 

[lloydbee]

I wonder what you are trading as that can make a difference

 

[jotekfinance]

Demo demo demo. Lose your big amount of "money" there first...... It will help you from losing a fortune