50,000 € available to trade... how, what do I do with it?
Take 5000 out of that sum and trade it. The rest is your to make sure that you can afford to loose that 5000
thanks for the reply. What do you think about someone managing my funds?
thanks for the reply. What do you think about someone managing my funds?
Trade 5000 like techmac said, forget the others they are all bull sheet !
And put an easy goal each day, like 10 pips.
Take 5000 out of that sum and trade it. The rest is your to make sure that you can afford to loose that 5000
If he said he have 50,000 to trade why he has to trade with 5,000?
I don't understand your maths. 50K can produce 10 times profit than 5K
First he has to learn to trade so I am in the camp that he should start with 5000. Once he has made 20% on his account then he should add another 5000 and continue. If he loses 20% which for most new traders is part of the leaning curve he is out 1000 and not 10,000. If someone is also asking if someone else should trade their account for them (I gasp at this thought personally) and admits to not having made a profit in forex, I would proceed with extreme caution!
To the OP: Take your time and learn. You can do this without risking all your capital. Since you are starting out might as well take a look at trading E-mini contracts and decide which you prefer. There is quite a big difference and you might find you like one more than the other.
I will take you further down to 2000...Learn to trade with this using very small lots.
Primary objective is learning to trade live initially. When you push it up to 6000 then add 20000
to you trading account and learn to trade bigger( maybe 1 lot at a time). Push that up to 50K and you can invest the
rest of your cash.
I can state it clearly because its what I did and now years later...there are no regrets.
TPA
If he said he have 50,000 to trade why he has to trade with 5,000? I don't understand your maths. 50K can produce 10 times profit than 5K
True
But also it can produce 10 times the loss (which is more probable) If he has to ask what to do, then the assumptions is that he is not sure what is he going to do and that means he has to learn. Better to lose less than more while learning
First he has to learn to trade so I am in the camp that he should start with 5000. Once he has made 20% on his account then he should add another 5000 and continue. If he loses 20% which for most new traders is part of the leaning curve he is out 1000 and not 10,000. If someone is also asking if someone else should trade their account for them (I gasp at this thought personally) and admits to not having made a profit in forex, I would proceed with extreme caution!
New traders does not lose 20%, lose 110%
But this does not change the initial message.
He said: I have 50K to start
He didn't said: I only have 50K life savings. Lost them will cost my family.
So. He's fine to open an account with his 50K and trade standard lots. We will be able to make 1K profit during trades with some few. And that will help him so much than trading every day for making 50 bucks.
Linuxser is right, most new traders do lose 110%. Reload and then lose 110% again but hopefully not as fast as the first time. I did not want to come across as overly negative. Still losing 20% is probably enough to hit home that making money in forex is not as easy as it first appears!
My impression was that the OP has 50K but so far has been unable to be profitable but wants to generate some return on this initial capital. He did not sound like he was ready to lose it for the leaning experience. Perhaps I am reading into what he wrote incorrectly.
New traders have a lot to learn and it has nothing to do with macro economics or technical analysis but their own psychology and how they deal with fear and self doubt. I still believe a small account with money is better than any demo account and that there is nothing to lose by being conservative.
:):):)
The "I have 50K to start" part along with "or should I invest in someone trading the money for me?" question sounds like "I have a toothache and I would like to pull out all my teeth to stop it".
If he is up to investing, then better learn first what is he investing in without "pulling out all the teeth" - at least it will prolongue his possible and available learning time since the "110% loss" might make that time very, very short if investing all that sum. If he has millions on the other hand, he should not trade forex at all and I doubt that he needs a financial advise in that case. There are some better ways to invest millions
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Hello,
As you may know, i've been on this forum for some time but haven't really made any profit yet. I have been trying hard, but it doesn't seem to work out. I want to make something out of the 50,000€ i've got to trade, not a living, but something acceptable. Please do advise me on this. I'm willing to invest to learn, or should I invest in someone trading the money for me?
I would be glad if some help comes to me
thanks