50,000 € available to trade... how, what do I do with it? - page 2
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thanks everyone for your replies. i'm taking them all into account. i think you're right about trading live being the only way to learn. i'll start with 2,000 and build up slowly. if you have any more advises, please dont hesitate
Hi Jason,
First If i were in your shoes and i was a newbie, I'd want to first simulate on a demo of 50,000 and use a conservative or low risk Money management on it as with an amount like 50,000 EU , there's really no need of aggressive trading, because say 10 or 20% of that a month is like 5000EUR to 10,000EUR a month, that's enough of a months worth of profit even for a European or an american.
Don't bother with trading 2k live or 5k live, because you'll tend to go aggressive on that to make a good amount worth that of a profit of off 50k.
So a 50k demo would be best, trade and make a profit once, then do it twice, then do it thrice .. do it as many times as you want until you've convinced yourself your profitable and through your performance on a demo.
Then you will be able to start 50k EUR live and reap the rewards that kind of equity may be able to provide you.
Regards & to your success!
Nick
Hi Jason,
First If i were in your shoes and i was a newbie, I'd want to first simulate on a demo of 50,000 and use a conservative or low risk Money management on it as with an amount like 50,000 EU , there's really no need of aggressive trading, because say 10 or 20% of that a month is like 5000EUR to 10,000EUR a month, that's enough of a months worth of profit even for a European or an american.
Don't bother with trading 2k live or 5k live, because you'll tend to go aggressive on that to make a good amount worth that of a profit of off 50k.
So a 50k demo would be best, trade and make a profit once, then do it twice, then do it thrice .. do it as many times as you want until you've convinced yourself your profitable and through your performance on a demo.
Then you will be able to start 50k EUR live and reap the rewards that kind of equity may be able to provide you.
Regards & to your success!
Nickwow thank you, that really does speak to me. i'll try doing that. the hardest thing is believing that demo is real and being conservative, not going mad
wow thank you, that really does speak to me. i'll try doing that. the hardest thing is believing that demo is real and being conservative, not going mad
Here's a MM i fixed for you, Low Risk 1% trading and High Risk 10% trading.
See whats the possibilities for you if you can do 40 pips a day or 200 pips average a week.
4jason_mm.xlsx
Just go on demo 50k and with 1%, see if you can achieve the months goal for a 3 months at-least, then you can go on live 50k.
If you want to go high risk, always remember do it with profits and never with your real capital.
That means if you someday made 50k profit of off 50k deposit trading low risk and you want to go on high risk.
Move the profit 50k on another live account and try High risk to push your luck.
Regards,
Nick
Here's a MM i fixed for you, Low Risk 1% trading and High Risk 10% trading.
See whats the possibilities for you if you can do 40 pips a day or 200 pips average a week.
4jason_mm.xlsx
Just go on demo 50k and with 1%, see if you can achieve the months goal for a 3 months at-least, then you can go on live 50k.
If you want to go high risk, always remember do it with profits and never with your real capital.
That means if you someday made 50k profit of off 50k deposit trading low risk and you want to go on high risk.
Move the profit 50k on another live account and try High risk to push your luck.
Regards,
Nickthank you so much. i can't thank you enough really. this has set me a goal, i just need to work at it now
ill keep you informed on how it goes, thanks a lot
thank you so much. i can't thank you enough really. this has set me a goal, i just need to work at it now
Hi Jason,
Good Luck Jason and remember.
Jesus is the way, the truth and the life.
There is no other way to find salvation other than the lord.
So take it with a pinch of salt if your trying to find happiness here on earth with oodles and oodles of moohlah.
Because there is no way for man to find happiness on earth, its always like that. Life is a test and The lord is the only way.
Regards Jason & It's my last post in this topic for you,
Nick
this is my beginning. might not be great but it's a start with a strat i used a long time ago. Just need to test now.
Firstly, if you want to trade on your own, ask yourself whether you have a trading plan on your hand. Every trader needs to have a trading plan to follow, in which it includes the trading routine, all the criteria of entry and exits, strategies and time-frames used, when to stop trading, and your money management. If you see that you've not been profiting from your trade, you may want to go back to a demo account first and practice to trade according to your trading plan. If you see yourself profiting for at least 3 months, you can switch back to live trading.
Getting someone to trade on your behalf is another option. You may compare one money manager with another to see which trading system that suits you the most and the winning probability. The disadvantage of this trading method is that you don't have control in your investment and you may lose your money in someone else's hands.
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
thanksthis is my beginning. might not be great but it's a start with a strat i used a long time ago. Just need to test now.
Let me guess : the next step is system selling or mutual investing? We had it guys
Is that demo account? I can't believe you can make 95% win rates and only lose $3 in the beginning and what's your broker?
Yes it is a demo account. this was the beginning so it might just be luck... but i will keep you updated