Can I start trading with as little as 25 dollars?

[Gaban]

You can start with a cent account.

 

Yeah, cent account is an account with the smallest minimum deposit among the other types of accounts, we can use this account to feel real trading atmosphere.

[Rambo35]

You can tell you are a new trader. Demo accounts do teach you emotions by helping lesson the stress of trading new guy. Without the practice of a demo account, one would really be stressed out without the experience and practice of a demo account. It also teaches you lessons in trading psychology by giving you the practice of how to use the various functions that one would be subjected to in a live account and I can go on and on with more examples. Actually incorrect about profits and losses too... you are on a noob roll for sure. One does have profits and losses when demo trading. If one goes into live trading without demo, they are doomed by not being prepared. It's like getting behind the wheel of a tractor-trailer truck without any drivers training and driving down major highways. Something tells me that you haven't been trading long...lol.

 

It is my experience that anyone that tries to discourage others from training on a demo account, have absolutely no idea what in the hell they are talking about.

 

Think what you want. Demo accounts do not teach you anything and successful traders understand that. I have to say that, despite that you have a lot of thanks and are a veteran forum poster (do not know if you actually trade) your advice about demo accounts is great for traders who seek to fail. You claim they can learn trading psychology in a demo account which made me laugh.

 

You make profits in demo accounts? Can you withdraw them? Exactly! Before throwing the word noob around old man, get your facts straight. I have no problem with disagreeing with you in this forum, and I am glad that I can bring a different perspective to this forum. I hate to tell you that your approach is not the smart approach to it.

 

Those who think they can learn how to trade in demo accounts are most likely doomed to fail. The best comparison I can make is that trading demo accounts is like masturbating and you think you are getting good at having sex. Does not work like that. So many have a good performance in demo accounts and fail ones they go live.

[Guest FloridaTrader]

Think what you want. Demo accounts do not teach you anything and successful traders understand that. I have to say that, despite that you have a lot of thanks and are a veteran forum poster (do not know if you actually trade) your advice about demo accounts is great for traders who seek to fail. You claim they can learn trading psychology in a demo account which made me laugh.

 

You make profits in demo accounts? Can you withdraw them? Exactly! Before throwing the word noob around old man, get your facts straight. I have no problem with disagreeing with you in this forum, and I am glad that I can bring a different perspective to this forum. I hate to tell you that your approach is not the smart approach to it.

 

Those who think they can learn how to trade in demo accounts are most likely doomed to fail. The best comparison I can make is that trading demo accounts is like masturbating and you think you are getting good at having sex. Does not work like that. So many have a good performance in demo accounts and fail ones they go live.

 

Let me see if I can comprehend this. You elected to not demo trade and went straight to live trading in micro accounts. By doing so, you can attest that NO ONE ELSE should demo account. Let me enlighten you new trader. YES, someone can take the short cut and trade micro account and make a few pennies and now pretend that they are a successful trader as you did. Since you have not demo traded, where in the world do you think you have the right to do any comparison about the demo and live accounts if you've never did it? Let's think before you post...you sound like someone that is clueless.

 

Hint: The reason why we use a demo account is to gain experience...and it's COMMON SENSE that one not expects to withdraw, that is why we call it a D E M O Account in the first place.

 

When I read postings such as this, it confirms why some people are riding tricycles while others drive lamborghinis.

Edited May 2, 2013 by FloridaTrader

[akhmadfx]

Think what you want. Demo accounts do not teach you anything and successful traders understand that. I have to say that, despite that you have a lot of thanks and are a veteran forum poster (do not know if you actually trade) your advice about demo accounts is great for traders who seek to fail. You claim they can learn trading psychology in a demo account which made me laugh.

 

You make profits in demo accounts? Can you withdraw them? Exactly! Before throwing the word noob around old man, get your facts straight. I have no problem with disagreeing with you in this forum, and I am glad that I can bring a different perspective to this forum. I hate to tell you that your approach is not the smart approach to it.

 

Those who think they can learn how to trade in demo accounts are most likely doomed to fail. The best comparison I can make is that trading demo accounts is like masturbating and you think you are getting good at having sex. Does not work like that. So many have a good performance in demo accounts and fail ones they go live.

 

I think you are born to be a trader with never use demo account, such a weird trader in this world.

maybe becouse you are use succesful methods from other trader, just copy every single trade and wait for time bomb to MC without use that method on demo first.

[Guest FloridaTrader]

As long as I've been trading, I've never heard of an experienced trader that would recommend to skip demo trading. This makes no sense at all and is very irresponsible. This is like someone that isn't a swimmer, jumps into a lake for their first time and says "look, I haven't drowned (yet), no one needs swimming instructions".

 

I hope new traders coming to this forum can tell who can give the best advice. A trader that has no experience shouldn't be giving new traders advice.

Edited May 2, 2013 by FloridaTrader

[Guest leospartain]

Spammers and Scamers are not welcome here off u go......

[Guest FloridaTrader]

Spammers and Scamers are not welcome here off u go......

 

I had him banned before, and he didn't learn his lesson my friend. Hope you're making some good pips today!

[nevergiveup]

I have to disagree with your statement that demo accounts are a requirement as they do not teach traders how to control emotions, trading psychology, risk management. You dont even trade in a demo account, there are nor profits or losses. I would advise traders to learn in micro-accounts and only trade 0.01 lots, but at least they learn with real money and dont waste their time.

Do you really trade?

[nevergiveup]

Can I start trading with as little as 25 dollars?

 

You can start with nothing also, it can be done.

[anton1713006147]

I dont understand what you mean. Would you please explore further?

Thanks

 

And what about the traders who are able to get consistent profit when trading with a demo account but can not get it when trading with real account? Though they had have a good trading method. Is trader psychology also still not influence trading?

[diablo88]

Can I start trading with as little as 25 dollars?

 

Some brokers have minimum deposit as $5 (even $1), so I think you can trade with $25. However, I have read some posts from experienced traders, they advice we should deposit at least $300 to trade. Because the minimum lot trade is 0.01. With $300, you can stay in the market with 300 pips. Some pairs suddenly appear on Monday with 100-200 pips distance from the last position. Sorry for my English but I recommend if you want to get started in trading and gain profit, $100 or above are good. Below that amount, just keep in my you're learning.

[nevergiveup]

Those brokers are using such things as a bait to unsuspecting noobs, only a noob can think to turn 1 cent to a million.Money creates money, not the other way around, experienced traders would understand what i meant . Tell me one thing how does a account with starting cap of $25 would stand the draw down?Yeah I know you will tell , we r using 3000% leverage, so far so good, Leverage is a double edged sword. Ok, there may be outliers who never make a loss, but is it for real, no losses what so ever !!!

[Gaban]

I dont understand what you mean. Would you please explore further?

Thanks

 

My point is usually a novice trader when trading using a demo account can earn profits consistently and this makes them confident to trading with a real account, but in fact, many novice traders who suffered huge losses and even to experience a margin call. I think, that this is the case because one of the reasons is the psychological traders, but there are denied. And I also try to ask at some forex forums that exist, most of the members said it was due to the psychological. So which is it, is the psychological not affect?

[tamarind]

My point is usually a novice trader when trading using a demo account can earn profits consistently and this makes them confident to trading with a real account, but in fact, many novice traders who suffered huge losses and even to experience a margin call. I think, that this is the case because one of the reasons is the psychological traders, but there are denied. And I also try to ask at some forex forums that exist, most of the members said it was due to the psychological. So which is it, is the psychological not affect?

 

 

 

 

http://www.bpstensegrity.com.au/wp-content/uploads/2012/12/Psychological-Traingle-of-wellbeing.jpg

[Gaban]

Could you explain it? I think it will be useful for trader who still learn, include myself.

[Loustar1]

What demo accounts should be used for.

 

1. Understanding the workings of the platform you are going to trade live money with. I personally know of several traders that started trading live accounts without clearly knowing how to enter/exit orders or completely understand the difference between buy limit and sell limit orders or how to even properly place a pending order or how to correctly place a protective stop where they wanted it. They often lost money in trades because they didn't know which button to hit to manage their trades.

COMPLETELY learn the instrument panel of the vehicle you are about to drive/fly BEFORE putting hard earned money at risk.

 

2. Studying and learning the behavior of the many indicators available and how changing the settings can affect your trade setups. You MUST have a solid understanding of what it is you want to see on the chart and which indicators will give you that information. You should NEVER place any trades unless you are clear about how your indicator(s) work and why you are using them. No one in their right mind would try to learn this with live money on the line.

 

3. After you have a set of indicators that give you signals that you're comfortable with you need to BACK TEST (look at historical data) and FORWARD TEST (place practice trades with your setup) the signals to see if they give you a trading method that has the potential to be a winner.

 

Abraham Lincoln once said that if he were given 6 hours to chop down a tree, he would spend 4 of those hours sharpening his ax. Fine tuning your system and the indicators/settings on a demo account is like sharpening your trading ax. Work out the kinks and flaws with practice money first - get a real idea of how you would actually manage your money/trades, move your stops, add on to trades or scale out of trades and know which method of doing so is best for the platform you are using.

 

4. Developing your trading mind-set. Now that you have all of the other issues in place this is where you TRAIN YOURSELF to trade strictly by the set of rules you’ve developed. If you have been careful to create clean simple rules then every one of your trade entries should look almost exactly the same. If they are not then NOW (prior to trading live money) is the time to fix and bugs or quirks in the rules. Ideally you should open a demo account with the same starting balance that your real money account will have when you’re ready to start. This way you can practice trading under conditions similar to your live account and you can get a real feel for how you will deal with profits, losses and trade management.

 

Basketball players practice thousands of free throws during PRACTICE to develop a built in reflex that will let them take their shot the same way every time when they are playing in a “live” game.

 

The same principle applies to trading in a demo account. You want to develop a “muscle memory” to pull the trigger at the right time every time a valid entry appears on your chart. You want the reflex to be automatic, instant, and done with an air of confidence that you gained by forward testing your system in demo and tweaking it until you have tremendous confidence in the method and its ability to be profitable over time.

 

When I work with traders I always demand that they take at least 100 trades in demo so that we have a body of trade entries and exits to study and tweak. Going “live” shouldn’t happen until you can prove that your system will make money and that you are mentally programed to take your trade EVERY time your rules dictate it.

 

Once you go “live” after following this routine you’ll have the confidence to continue to pull the trigger on your system even after it has a few losses in a row.

 

A demo account is one of the best tools a trader can have if he/she knows how to get the most out if the demo experience.

 

Thanks for taking the time to read this – comments welcome – let’s have a civil, organized, informative discussion about this as it is the gateway to true successful trading.

 

Be Well

 

Loustar1

Edited May 6, 2013 by Loustar1

[bwarecka]

but when you start and have in your account 20 usd do not open big laverage! You can very easy lose you money.

[Guest FloridaTrader]

But if we are trading with leverage is great and we do not discipline, it will also make us lose our money.

 

Read....post #21 said NOT TO use big leverage.

[apple1937]

Without using proper money management and trade in High Leverage (eg: more than 1:300), do that in your "DEMO" account and observe the outcome. Sooner you will learn a lesson.:)

[Alpha32768]

I would not start with an amount below 1000$, way too hard to earn anything profitable. You can work for 25$ more easy.

[luckyjack]

Yes you can, but don't think that you will make money. You can learn,train etc... but if you want to make REAL u need "little bit" bigger depo :)

[Guest FloridaTrader]

Yes you can, but don't think that you will make money. You can learn,train etc... but if you want to make REAL u need "little bit" bigger depo :)

 

You actually need a lot larger account if you want to make decent returns. Let's be realistic people, the more you have in your trading account, the more you will reap in returns.

[devonk]

I recommend starting with a small account because unless you understand completely risk management, you're going to blow you account out fast (lose it all) and it's better to blow out a 20 dollar account than a 20 K account. Here's a tip - think in PERCENTAGEs - NOT in actual dollar amounts i.e. 2 % gain, 1 % loss, 8 % gain etc.. use size positioning an stops to keep ALL your losers SMALL - you're job isn't to MAKE money but not to have BIG losers (small losers are good - you'll make them back without trying) - focus on NO BIG LOSERS (in % terms) and the profits will take care of themselves ...

[Guest FloridaTrader]

I think you are born to be a trader with never use demo account, such a weird trader in this world.

maybe becouse you are use succesful methods from other trader, just copy every single trade and wait for time bomb to MC without use that method on demo first.

 

rambo has no forex experience and opened a micro account and made a few pips. This in his world, makes him an experienced and successful forex trader (only in his little world). Wait until he crashes and burns his micro trading account many times over. I wonder how the noob did on his second week of trading. =))

[Ttrader1]

Can I start trading with as little as 25 dollars?

 

Why not? For example, Weltrade broker allows to start trading with $25. That's the minimal deposit.