I have blown up 2 1000$ accounts one trading stocks and the other in silver, before I became profitable.
Aren't you missing a zero from 1000$ ? No one can learn much from only losing $2k....heck that's only equivalent to a few trades. $10k would do.
This is an excellent point. You mention learning by losing and that without a doubt, is the correct way to learn trading. You will learn what to do, and more importantly, what not to do by losing real money in the real market.
You could trade silver via a Spot account with 1K easy. I turned $70 into $1000 in a few weeks, had a stock delist losing 2K area in sub 4mins literally, hence the $70, Penny stocks hey blew the 1K almost as quick! Penny stock was up like 300% going wild, mate was like, get in get in, finally did, literally 4 mins after, stopped trading was up 30% already and opened totally worthless junk 1 week later. Sometimes a dead cat just goes splat LOL
Nope it was $1000 which was a lot of money to me at the time. I was doing crazy things like 40x leverage on AAPL, AMZN, TWTR betting on 1% moves It worked about 3 times and then I started losing. Silver the same except I was leveraging 500x on 0.2% moves, again it worked for a few trades until it blew my account.
There should be a reason to trade a market - you have identified a real opportunity. If you don't see opportunities, there is no purpose. U definitely can make a killing trading stock index futures, they have some decent regularities - the problem is you have to have balls - attempting to turn it into a "living wage" or "paycheck" kills all of the edges.
This is all lies isn't it, you get 2x leveragr on stocks, 4x intraday with a 25k+ account that's it. Trading via CFDs the spread is 1% so blows that out. Lol and lol and lol New ID time get the basics down before trying to get OPM next time right lol
They were CFD's and the spread wasn't 1% the commission was about 15£. The spread on appl right now before the market even opens is 2 cents. To get max leverage via cfd you just need to have a really tight stop. If I but 500 shares of appal at 129.48 the margin requirement is 1077Euro. 2 cent spread = 10$ spread Silver spread is also 1-2 cents. Don't know where you got 1% spread from.
The Disadvantages : While CFDs appear attractive, they also present some potential pitfalls. For one, having to pay the spread on entries and exits eliminates the potential to profit from small moves. The spread will also decrease winning trades by a small amount (over the actual stock) and will increase losses by a small amount (over the actual stock). So while stocks expose the trader to fees, more regulation, commissions and higher capital requirements, the CFD market has its own way of trimming traders' profits by way of larger spreads. Also note that the CFD industry is not highly regulated. The credibility of the broker is based on reputation, life span and financial position. There are many fantastic CFD brokers, but it is important, as with any trading decision, to investigate whom to trade with and which broker best fulfills your trading needs. ----------------------------------------------------------------------------------------------------------- Which broker were you using ?