I guess, there is a lot of dis-approval of 2K start-up account, but everyone learns in a different way....
The fact is that it is possible if you trade FX, you can trade mini-spot (1$ a pip) and that would cover you and if you a good at it you need only 20-30 pips for your beer money.....
Most likelly if you are new to trading you will blow those couple of grand very quickly even playing mini spot. Strong recomendation, try to invest that money into education if you are serious about trading and get better understanding as to what you getting your self into before you play and real dollars....
I am not sure which courses are available in US that are good for those $$$, but i am sure there are many guys on the forum that can help you out with that....
And just to see for your self, open a demo account with any broker and see how would you fare... All of us might be wrong...
I feel like some of the others here are being a bit too cynical. I laughed, but I don't think its very helpful for someone looking into trading. I will preface advice with this; trading, imo, is fundamentally a game. It's an extremely competitive, fair game, where you are playing with the best players in the world, all the time. It's like playing against the best poker players in the world every day. If you're going to beat them and take their money you must have skills.
To answer you're initial question: "Is it feasible to make $10-20 on average per day with a $2000 account trading part time?"
In online poker, before the crackdown, I'd heard of a few people doing something similar. Though in trading, the fixed and variable costs; data feeds, platforms, and commissions respectively, would require a high leverage to achieve your goals and necessitate poor money management, creating a scenario for failure. I believe that's the case in futures and stocks, forex I don't know much about.
If you are still interested, get on a simulator and play around to see if trading is really for you or not, before you ever risk any money. Watch market action, note patterns, make trades. If you don't like trading for free you will never like it when your money is on the line. I've heard some forex broker's offer them for free, and many futures brokers will give you a free data feed to use ninjatrader in sim for a surprisingly long time. Although this assumes you are visually oriented. If you are more analytical, search for more quantifiable methods.
Returning 1% daily on a tiny account is not feasible, primarily due to external costs of trading being too expensive proportional to account size. But also because of stop placement which then dictates risk to reward ratio - it just won't work out.
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You sound like you are bracing yourself to lose it , the money that is . You wont throw it away but instead it will be taken from you by the traders that brace themselves to win it . Sorry to sound synical but its the truth .
Heres the good news though . $2000 is precisely what I started with to trade live and I still have the money in my account , and then some . Ill offer you what I did and do in regards to trading a small account . First I practiced for about 3 years everyday 8 hours until I discovered what works for me and I tried everything possible - twice at least . Then I settled down and found a way to trade in proportion to such a small account . Swing trades are what offered the best bang for my buck so I started looking at setups on timeframes like >4 hours . This also fits my intolerance for sitting more than 30 min. at a time . The elusive and often misunderstood unwanted stepchild "forex" market is where I do my dirty work . I can risk a proportional amount in relation to the reward and slowly build my account .
Thats it . Btw , 2 months study and practice before going live will put you in an elite league of gifted traders if you succeed . You CAN do it but caution and patience will be your greatest friend here .
I don't know about futures, I trade spot Forex. It would be very unlikely for you to do what you're asking after only 2 months of study. I'm doing exactly what you're asking, though everyday I compound because I don't want just beer money, hah. Anyway, if it's anything to go by, I lost money in Forex for 9 months before I started finally getting consistent profit each day. Things have been swell since around January.
Also, and this is a big "also", I spent two years as a semi professional online poker player playing headsup games before coming to Forex. So I already had solid money management, risk tolerance, an understanding of expectancy, etc etc..
Even if you're a genius you will likely have a lot of work do on controlling your emotions and developing the proper psychology.
Realistically, I'd say it will take 1-2 years at minimum.
Yes, If I look to my monthly statement I can do it now, on a $2000 account. I hope I will be able to keep doing it :-) Please note that my account is a lot bigger but that isn't needed at all. I have days that I look at the market and I say to myself: that's not a day to trade my system, and I stop trading. I succeeded in detecting bad trading days for my system, I think that's an important point to learn. You don't have to trade every day, better no trade than a losing trade.
I could not do it some time ago, I had to blow up several times and try like a trillion systems. The pain of losing extremely big money keeps me currently from over trading or revenge trading. I hope I can keep it that way, I'm scared that once in a while I have to go back to have a big losing day because I didn't followed my rules to be reminded that it's BAD.
The 1, 2 or 4% rules on money management is bullshit. You need to stop trading when you're on a day your not following your system or you see that's one of those days that your trading system will not work. For the rest you need to continue trading, if you still keep failing and you follow your system then your system stinks. That 1,2 or 4% rule will only let you blow up your account more slowly. You are NOT going to become profitable because you only risk 1% of your total trading account, I don't know why people think otherwise. That's just stupid. There's too much one liner crap in this trading world and day after day I find out that most people are just full of it. Following these one liners in the past have made me lose even more.
I know a trader who earns more than $25.000 a month and his account is only $10.000 big, he takes every week the money above that out.
Just try a lot of systems, try one that suits one and know it inside out, trade a market that you know how it behaves. I would strongly advise for people who are not profitable to sim trade the PERRY TRADING SYSTEM found here on bigmike, follow the rules and you will be profitable. It's there for free.