How much can I make a day with 2k$ ?
- Thread starter Jones_Dk
- Start date
If Oanda is still in business you can trade really really really small. Find 2 or 3 patterns that you have success with and just look for them all day and night no matter what the pair just take the trade. You aren't going to double your money in 1 month but you won't lose it all in a week .
+1
good advice.....I will add a bit of wisdom from my side:
1) trade 1000 USD/JPY or 1000 EURUSD or 1000 AUDUSD or 1000 EURJPY or 1000 EURGBP or 1000 AUDJPY etc. you get the idea of position size I am talking about.
2) So, for a 100 pip price move against you, you will lose approximately 10$ if the 2nd currency is USD, if 2nd currency is JPY you will lose accordingly (again approximately 10$).
3) Give yourself flexibility to add upto 3 times if price goes against you or price moves in your favor and no more adds after your 3 adds are done please.
4) Say you have a full position of 3000$ and you let that position run 100 pips against you before you stop yourself, you will lose 30$.
I know you must be thinking holy shit why trade if all you can win or lose is 10-20-50$ or so.
5) Track your monthly profit/losses and plot a graph. Find trade stats - your win ratio, your profit factor, your drawdowns etc. etc.
It is very important to learn to trade. Once you learn to trade, you can increase your position size from 1000 to 5000$ and then to 20k and then to 50k and so on. However, if you lose your 2k if you start risking 100$ per trade or so, you will find yourself penniless in a month from now
This process of learning to trade will take about 1.5-2 years.
I recommend you also take a job that pays you 50-70$ per day so that you can live a life while your learning continues.
If you follow my advice, your chances of success in becoming a profitable and eventually successful trader will increase a lot. All the best.
2k a day is too little to sustain trading, IMO. You have to be able to absorb some risk to stay in the game.
Buy $2k worth of weed and hit the streets. You'll be able to turn enough profit to turn that $2k into $10k. It'll be one of the best trades you'll ever make.
Now if you rinse and repeat with that $10k look at the returns you can make.
$10k weed = $50k cash
$50k weed = $250k cash
$250k weed = OMG $1.25mm
YOU SEE WHAT I'M TALKING ABOUT HERE!?!?!?!?!?!?
Get the word out you are looking for some good cheeba bro!
*Poster requires a $1k consulting fee for anyone who reads this post.
Now if you rinse and repeat with that $10k look at the returns you can make.
$10k weed = $50k cash
$50k weed = $250k cash
$250k weed = OMG $1.25mm
YOU SEE WHAT I'M TALKING ABOUT HERE!?!?!?!?!?!?
Get the word out you are looking for some good cheeba bro!
*Poster requires a $1k consulting fee for anyone who reads this post.
He is brand new. Don't you think it might be premature to talk about trading two contracts? Looking at what type of return you can earn on your 2K is ass backward. The question needs to be what is the best ways to learn enough so that I can go live with my 2K and have some chance to stay in the game as I learn to handle the ups and downs of real money being transacted.