I know it seems ridiculous to most of you, as I mentioned in my first entry, so just ignore the thread in this case. Please any further advice only regarding possibilities where and how i can "trade" with such an amount (maybe 800$). I'm not so much interested in stocks, as I mentioned I'd prefer commodities (options)... any ideas? hi, thanks for the input. I'm going to be at the Uni for at least two more years, afterwards I'd like to start in trading at an I-bank or a hedge-fund. So I'd like to learn in the meantime as much as possible, including to make my first trials on my own account.
Since noone really ever heeds the advice of the veterans when told to study and paper trade first, here's a way you can lose your $500, or at least buy yourself a $500 lesson in what NOT to do (trade before studying/paper trading to test your plan) SogoInvest miiiiight be an option you'd find worth consideration, because although they say they require 2K minimum they do not to actually trade in a cash account. Or at least I did not approximately 6 months ago. Sogo offers a pretty cool solution to your low capital issue, which is what turned me on to them initially though I've since abandoned them, and that is that they allow you to buy fractional shares. Saying you wanted to buy GOOG, which at the time of this post showed a close of 693.00, but suppose you only had $200 available. Sogo would allow you to buy the fraction you could afford to buy. I think it moves in eigth increments but i could be mistaken? That said, sogo is a pretty new broker and lacks many of the advanced features you'd find somewhere like interactivebrokers.com. The trade execution isn't something to write home about either, but with that much money to invest I doubt you're trying to daytrade anyway, commissions would eat you alive even at sogo, heck, even at ib. Anyway, hope you at least have fun with your $500 lesson, may the force be with you Edit: uhm, but, I don't think sogo does options/futures? check the site.
you can open an fx trading account with $200 or trade $1 at: https://fxtrade.oanda.com/ margin to trade 1 mini lot can be as low as $25 and there are fx brokers providing micro lots: http://www.alpari-idc.com/ also available from Alpari is the MetaTrader 4 charting - order entry program available as a free renewable demo as well as for live trading and includes the realtime feed. MT4 is available from fx brokers worldwide. MT4 has a full suite of charting tools as well as being able to have Indicators and Expert Advisors custom coded; because the user base now runs to tens of thousands there's a tremendous amount of development of I and EAs, much of which is available on the many fx/MT4 forums: http://www.forex-tsd.com/ and http://www.forexfactory.com/ places where you can also research the many fx brokers as well as providing a wealth of information regarding fx trading and specific manual trading systems, etc, etc, etc here are two methods you might like to review which will provide a some education: http://www.forex-tsd.com/xo-method/5845-xo_method-revised.html http://www.forexfactory.com/showthread.php?t=14630 however start here: http://www.currency-forex-trading-online.com/ this site will provide you with a thorough basic knowledge of what fx trading is all about then read the 'Trading Plan' pages
Pain Hater, It might be in your best interest to listen to the prevailing opinion in this thread and figure out how the markets work. Start with stocks - they're more forgiving. As suggestion you could open a Scottrade account for 500.00, and use their charts and data to observe market movements. An excellent book on chart patterns is "Trade Chart Patterns Like The Pros" - Suri Duddella Stockcharts or barcharts websites have lists of stocks and their performances so look at what moved and why. Examine a stock on multiple time frames such as yearly, monthly, weekly,daily, hourly...etc. But...only trade in one timeframe. Learn to keep your charts as clean and simple as possible. Avoid alot of indicators. Avoid cheap stocks and stocks that have low volume. Never buy a stock that someone recommends - find them yourself. Simple buy and sell signals - reversal signal bars Exceed high of the lowest low=Buy Exceed low of highest high=Sell Don't be in a hurry, you have plenty of time to learn.
Use the 500 to obtain a good charting software and live feed of the index futures. Buy Trading in the Zone by Douglas and Trading Chart Patterns like a Pro by Suri Duddella. Simulate trade until you have saved at least 10k, make sure this process takes you no less than 6 month time and I assume your sim trade happens on a daily basis. The more the better. When you got your 10k, live trade with one contract until you see profitable consistency to hit two. Wipe your ass with most ET forum's opinions, should be enough for a sparkling clean ass, and start your very own journal from day one. Anek
http://www.elitetrader.com/vb/misc.php?s=&action=bbcode Do you also want to know where to get some of those rocks?