Would like to hear others opinions on what is the best thing to trade if you have only $3000 to trade. Stocks, options, currency, others? I recently had to take out a large portion of my account to finance a home addition. I only have traded stocks before and dabbled in Options. It justs seems hard to trade stocks again with such a small account. Any advice would be helpful. Should I just wait and save up more money?
Your three goals are: knowledge, skills and experience. In another long ago era (1957) I began with 300 dollars and half my 135 dollar a week salary. My equity curve was about 10% a month for position trading the natural cycle. What you are doing at this point is spending the most valuable thing you have. That is time. Today, with the advent of the computer and electronic communications, you now have the ability to do much better because of the support available to you. I would shoot for well over 10% a month, under present conditions, in position trading equities. I would say that any person over 15 could begin as I did at 25; this would go a long ways towards having a good orientation to higher education by the time college comes up. Then the person could pick an avocation to study since having a job would be understood to be unnecessary by that time.
Very intertesting, I will have to check this out more. trade wherever you have an edge... i enjoyed www.hedgestreet.com when i had a smaller account.
I've been trading currencies the last two years. With little startup capital. The thing I like about it is charting is free and you can open an account usually with $300 usd. This market is very active and provides alot of opportunities for various strategies. Alot of people think you can't make money at currencies because they can't do it themselves. I use Oanda.com they have a pretty good reputation. Beware there are alot of bucket shops out there. For info on Forex check out www.fxstreet.com they have alot of resources and seminars. Check it out good luck