Where do all the newbies come from ?

Specterx · Mar 20, 2009

Quote from scot.mcpherson:

Well there is one barrier. You need money. Anyone with half a brain knows that if you want to "Trade" rather than "invest", you need enough capital to surmount commisions and fees on trades. I'd say you want to target 1% or less in commisions and fees to make it worth while. More commissions and you are fighting your profits with the costs to do business. In most cases for bargain trading brokers, that's about $1000 per trade ($10 commissions and fees). Everyone can save $1000 in a couple month, I don't care who you are, but it requires you do put that money away and not think of it as backup money for something you will need or want. Its gone....

If I can do a trade and cover my commissions and increase my yield and capital, that will make me happy for now. I'd "daytrade" later when I have enough capital to produce an income from it without hurting my growth.

Beyond having initial capital, yes no barrier....

You need far more capital to make good money investing than by trading...

Rick James · Mar 20, 2009

Which part bothers you more

that someone has other skills they used to raise the capital,

or that they are making money?

andrewbee · Mar 20, 2009

Quote from Kicking:

One question comes to my mind when I started lurking on here after some time away...
why so many new registered users and how did you get started ?

Three words: micro forex accounts.

Kicking · Mar 20, 2009

what's the deal ? There have been mini accounts since 2003 when I got interested in FX, it's pretty much pocket change , you can make lots of it but a living ? So micro accounts ?

trader_david · Mar 20, 2009

from china definitely. they produced anything, including baby traders

andrewbee · Mar 23, 2009

Quote from Kicking:

what's the deal ? There have been mini accounts since 2003 when I got interested in FX, it's pretty much pocket change , you can make lots of it but a living ? So micro accounts ?

Lowering the barriers to entry to near zero, thus enticing a flood of newbies to "have a go".

scot.mcpherson · Mar 23, 2009

@Rick James

Who are you talking to? If me, no it doesn't bother me at all. Consider I am on the very bottom rung myself, so not sure why I would harbor ill feelings for new traders.

Thunderdog · Mar 23, 2009

Quote from Kicking:

...why so many new registered users and how did you get started ?

Judging by the growing absurdity in the politics forum, I think a fair number of new members hail from militia groups in Montana and some such.