Although I have a significantly more amount in the bank, I'm not willing to risk it all. I rather use a small amount, 10% of my savings to use. I also must pay 497 for the TIMAlerts which is the only thing I can afford. Profits will be small. My trial is also expiring soon. Has anyone tried this yet?
Tim should also do this, it would be a nice challenge for him to start with a very small account.
Posted Nov 26, 16 12:16 PMbyBboyDfresh
Received 1 Karma
I started with 300... What you'll learn in time is that you need capital to make capital. I increased my account size to 2K and although that is still small, it's made a substantial difference. If you can, save up more and put it in your account and remember, you don't have to (and I don't recommend) using more than 30% of your account on one position at a time. Bearing that in mind, 30% on 300 would only be 100 and that's just really not enough.
Start out paper trading to get yourself prepared..
That's 12 trade commissions round trip; say you invest half your account in a position, you would need to make 17% just to break even (120*1.17=140); 140-(2*10)=120 I.E. 0 Profit; (1200*1.17=1404); 1404-20=204; 1404-(2*10)=1384 I.E. 184 Profit. A larger account on the same trade could mean the difference in being profitable. Also when you have a small account, you tend to risk more which means larger losses especially when you begin. I killed my small account, took 2 years off to finish college
Asian's comment is right on point. Just try adding money slowly to your account, it sucks and takes time. Had a little bit larger of an account starting out found that 500-700 per trade worked for me.
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