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Trading with Small Capital
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Trading with Small Capital

  #11 (permalink)
Trading Apprentice
London/England
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Stocks
 
Posts: 4 since Nov 2012
Thanks: 1 given, 1 received

Financial spreadbetting could be one way to go. It seems to be gaining popularity among people with small trading capital. In my opinion, this seems like a viable way to trade if you have small capital but you need to understand the risks as well. You can make a lot of money without putting down to much BUT can also lose a lot of money if the tape moves against you. However as always with trading, if you have a sound gameplan and good money/risk management then you shouldn't be too worried.

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  #12 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,138 given, 4,387 received
Forum Reputation: Legendary


sgtrades View Post
As a struggling student money is often quite thin in my pocket. As ive been trading for the past year (prac acc in optionXpress) I feel as if I've made it to the point where im making pretty consistent profits and it has brought me to the point where im finally ready to load my account and take it to the next level. With all this in mind it hits me, I have only $1,500, how is one supposed to trade when it costs so much to even place a trade with all the fees. Since i have a small account I'd have to risk bigger percentages to make enough profit for it to be worth the initial risk. I guess what I'm asking is what securities do people with low amounts in their account trade? My forte is stocks and I was thinking of doing more research on the OTC market and then stake my claim there. Thanks for all the advice and help its much appreciated!

Having been in your shoes before, here's what I recommend (and what I did not do):

1. DON'T start trading with $1,500. Your chances of failure are super high, even if you have a method with an edge.

2. Take 6 months to a year, and read all the books you can on trading. Keep an open mind on what you read. After you read enough, you start to formulate an idea of what you like/dislike - ie, how you want to trade. This is KEY - having agreement with your psyche and your method. Use your local library, and then the costs will be minimal.

3. During this time, do everything you can (legally) to get more capital. Ideally, you want $10K or more. The less money you start with, the more likely you will lose it all.

4. Paper/demo trading is nice, but don't rely on it to "prove" your method. If you have a mechanical method, you can easily backtest. If you have discretionary method, your emotions will play a big role, which they don't with demo. I have never met a losing demo trader, but I have met a lot of losing real money traders.


I wish I had done these things 20 some years ago when I was living in Lake Forest, CA. Alas, I did not, and it took me years to recover.

I hope you have great success!

Kevin

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  #13 (permalink)
Trading Apprentice
San Clemente California
 
Futures Experience: None
Platform: etrade
Favorite Futures: stocks
 
Posts: 4 since Nov 2012
Thanks: 0 given, 1 received



kevinkdog View Post
Having been in your shoes before, here's what I recommend (and what I did not do):

1. DON'T start trading with $1,500. Your chances of failure are super high, even if you have a method with an edge.

2. Take 6 months to a year, and read all the books you can on trading. Keep an open mind on what you read. After you read enough, you start to formulate an idea of what you like/dislike - ie, how you want to trade. This is KEY - having agreement with your psyche and your method. Use your local library, and then the costs will be minimal.

3. During this time, do everything you can (legally) to get more capital. Ideally, you want $10K or more. The less money you start with, the more likely you will lose it all.

4. Paper/demo trading is nice, but don't rely on it to "prove" your method. If you have a mechanical method, you can easily backtest. If you have discretionary method, your emotions will play a big role, which they don't with demo. I have never met a losing demo trader, but I have met a lot of losing real money traders.


I wish I had done these things 20 some years ago when I was living in Lake Forest, CA. Alas, I did not, and it took me years to recover.

I hope you have great success!

Kevin

You basically nailed my strategy right on the head haha, ive been reading and researching nearly nonstop to gain as much knowledge as possible. As of now I've gained an interest in forex and have been demotrading for the past month or so, I plan to keep studying until im comfortable (perhaps a year from now) and I appreciate all the great info that keeps coming in. Great to hear from a SoCal cat

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  #14 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,138 given, 4,387 received
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sgtrades View Post
You basically nailed my strategy right on the head haha, ive been reading and researching nearly nonstop to gain as much knowledge as possible. As of now I've gained an interest in forex and have been demotrading for the past month or so, I plan to keep studying until im comfortable (perhaps a year from now) and I appreciate all the great info that keeps coming in. Great to hear from a SoCal cat

I'm in Ohio now - 6 years in CA was fun for me, though!

Sounds like you have a level head about trading. I started out dreaming of the riches, and that caused me to wipe out more than once.

Good Luck!

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  #15 (permalink)
Elite Member
uk
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: amp
Favorite Futures: ES
 
Posts: 164 since Aug 2009
Thanks: 102 given, 80 received

I'd personally go with a spreadbetting account trading small stakes on forex, but i'm in the UK and it might be different elsewhere?

I have been trading on and off for years and years since when I was a teenager, as a hobby alongside my day job, always using VERY small stakes.
I'm talking 20p per pip! So, I could buy the EUR/USD at 1.2840, cover it at 1.2940, and only make £10.

Recently, I sometimes feel that I may be getting good enough to increase stakes, and let my mind wander off
and dream about the possibility of giving up 'working for a living' and beginning to trade instread....then I slap myself and wake up.

You can use a very small account with such brokers, though.
I once began an account with £300 and turned into nearly 4k, and soon after lost the lot!


I have had lots of accounts with lots of 'brokers' (spreadbet bookies)

This year, I began a new account with a broker because I like the metatrader platform which they use.

I put £1850 in the account, mainly trading at between 10p and 20p per pip and have made around 4k or so.

Contemplating at least increasing the stakes a little next year, and maybe even starting a journal somewhere.

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  #16 (permalink)
Trading Apprentice
San Clemente California
 
Futures Experience: None
Platform: etrade
Favorite Futures: stocks
 
Posts: 4 since Nov 2012
Thanks: 0 given, 1 received


subterfuge View Post
I'd personally go with a spreadbetting account trading small stakes on forex, but i'm in the UK and it might be different elsewhere?

I have been trading on and off for years and years since when I was a teenager, as a hobby alongside my day job, always using VERY small stakes.
I'm talking 20p per pip! So, I could buy the EUR/USD at 1.2840, cover it at 1.2940, and only make £10.

Recently, I sometimes feel that I may be getting good enough to increase stakes, and let my mind wander off
and dream about the possibility of giving up 'working for a living' and beginning to trade instread....then I slap myself and wake up.

You can use a very small account with such brokers, though.
I once began an account with £300 and turned into nearly 4k, and soon after lost the lot!


I have had lots of accounts with lots of 'brokers' (spreadbet bookies)

This year, I began a new account with a broker because I like the metatrader platform which they use.

I put £1850 in the account, mainly trading at between 10p and 20p per pip and have made around 4k or so.

Contemplating at least increasing the stakes a little next year, and maybe even starting a journal somewhere.

Thats great that you tend to improve! At this point Im going to demo nearly all the platforms i can find haha (even though thats alot) and get my focus set on pure price action analysis as of now and then move onto the next step in my forex mission. My overall goal in forex is to make a career out of it, I feel if I start off young enough and study as much as possible and actually start trading when I'm truly ready I can possibly make it into something that I've always dreamed of!

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  #17 (permalink)
Trading for Fun
Nashua, N.H.
 
Futures Experience: Intermediate
Platform: TC2000 & Omni Trader
Favorite Futures: stocks & etf's
 
Posts: 50 since Feb 2012
Thanks: 1 given, 5 received

I'd avoid options, - something like over 90 something percent of beginners lose, - not very good odds. For trading purposes, "IF" you know what you're doing, (and don't kid yourself) then some decent small caps usually give the best bang for the buck. - Make sure they have good volume, ... or leave it alone.

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  #18 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
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Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,621 received


Mountain Hiker View Post
something like over 90 something percent of beginners lose.

That's good odds in the trading world

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