What is the minimum capital needed for forex, options and futures trading ? Free and recommended simulators ?
December 15th, 2008
Hello guys,
I'm interested in learning more about forex, options and futures trading. I heard that there are mini or micro account that can go as little as US$ 200 or 300 dollar. Is it true ?
Also, any recommendations for free forex, options and futures trading simulators ? I know that some websites provide this service but usually the virtual capital is too high (10K or up), and I want to set the initial capital to small amount like US$ 300 or 500.
If possible, is there any recommendations for courses/books ? I'm not aiming for those "fancy" amount of income, several thousand/month is OK. Of course I'm not looking for courses that cost hundreds or thousands of dollars…
Thanks for the input. I agree that it's a bit too much to expect thousands of returns for such a small amount of capital.
But, if I expect my capital which is around 300 or 500 to be doubled by around 1-2 month. Doesn't is sound possible ????
My plan is actually something like this :
The capital will be 300 or 500. The goal is to double the capital by around 1 – 2 mounth(s).
When I have more money, I will buy more lots…
To make it safer, every time I manage to double the previous capital, I will do one more time before I plan to use more capital to trade.
It will be something like this (US$500 capital) :
500 – 1000 – 1000 (don't use for trading) – 2000 – 2000(don't use for trading) – 4000 and so on …
Now the problem is to find the system that are able to do this… Any recommendations ?
I personally distrust systems that cost hundreds or thousands or dollars. There are simply too many scams…
Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
powered by Yahoo Answers
- Related Articles
- Dietary meaurements to Avoid Heart Disease
Heart disease is a problem with drastic consequences that cause it to be the number one cause of death in the industrialized world. There...
Posted in futures trading course
Stay away from Forex if you are not a very experienced investor.
References :
Check , cboe.com for tutorial
investopedia.com, for simulator
References :
Some of the advice you have received is ok but I must say you have made the first important step. Ok Now to the point you want to learn forex the best way is to join a investment club. I am in one now and we make an average return of 5.3% per month its not the 300% that some companies promote but it is a great return on a monthly basis. The club I am in you receive a weekly newsletter which explains what was traded and why so this way you could see how trades are done.
Forex trading takes some time to learn as there are charts reports and your own research in economies and markets of other countries as well as the one you are in .
I personally work at the forex market for 15 hours a day on average and when I make trades in the club it is conservative to avoid high risk of loss. Yes you can make more and I encourage people after a year to try a mini account while still a member of the club and see if you are on the right track.
With the club you do not pay any fees all you do is invest with the club and by doing so you start to learn more about how the real world runs as in trades.
The only people who say stay away from forex are the ones who tried to invest in it with out any knowledge or very basic knowledge and with such probably lost all ther money. They will make claims not to trust any one as they do not want you to be able to learn the right way because nthey did not.
Books can give you some insight but every book you read will have a different method to determine how and when to trade so again I say join a investment club if you would like more information write to me at billone44@yahoo.com and I will be more than happy to help you in answering questions you may have
.
References :
Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
References :
http://bsmtprediction.blogspot.com/
Actually $300 to $500 is a bit on the low side. There are two reasons for this. First, your account is not large enough to sustain any possible string of losses. Secondly, I always recommend to my clients that they trade with a margin of between 5% and 10% of their account. This would mean that you would only have between $15 and $50 actually invested in a position. What kind of profit do you think you could make with this?
The good news is that there is a solution. Why don't you open a free demo account with a broker or two to get in some experience and in the mean time we can build up a little more in your investment fund.
Drop me an email and let me share a couple of ideas with you.
Paul
pupp52@yahoo.com
References :
full time Forex investor and mentor
If you cannot afford a $999 course then DO NOT INVEST IN FOREX.
References :
What you mention is true about the minimum capital needed to invest in forex. And I agree there are also scammers out there. So I advice you to conduct a thorough research on this before you put in real money. In the meantime you can open a demo account first. You may experience a continuous flow of losses at first.
References :
great post and nice site. I love the idea of forex trading but making work is so hard. I have bookmarked your site and will come abck to see what else there is here. Thankyou for the post and the info!
I have been investing for around 6 years up til now and I am continuously keeping an eye out for quality sites and articles. This one truly strikes a chord with me and I’m giving thought to reproducing it on my own site. Would you have any objection?
I lean toward utilizing automatic systems myself, but I can clearly understand the points you’re putting out here. You’ve more experience and more reasonable viewpoints than the majority of the people who are writing about trading on the internet. Muchas gracias for the useful article.
It’s becoming more and more difficult to separate the real info from the noise, but I recognize you’ve got a lot of quite solid info here. Trading is risky enough without being led astray by false gurus. Thanks for a really interesting blog!