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How much do you need to trade?

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  • How much do you need to trade?

    This is one of the most common questions of newcomers. The short answer is a lot. Trading for a living is just like any other traditional business. You need a significant amount of money to do it. You wouldn't try to open you own restaurant with $2K so don't do it in the markets. Over the years I've heard lots of people's starting amount and I can assure you nobody has gotten rich by starting with a few thousand. Some people come into the markets with at least $100K and even that is on the lower end. I've heard of people who started with 1 million or more. I started with $1700 so don't feel bad.

    I even wrote an article saying you should scrape together $2000 to start with and I still completely believe that but I also put a disclaimer in that article saying that amount is only to get your feet wet. Once you have a better understanding of what you're doing you should start brainstorming ways to get more funds for trading outside of the market. Most people don't get rich from scratch on Wall Street. More often than not they already had a business outside of finance and are just using Wall Street to further their net worth.

    The amount you need to trade for a living should be enough for you to live on and enough for your account to still keep growing. If your monthly expenses are $2K then you're going to want to be making four or five times as much in the markets per month. That's the only way you could ever get to any significant levels of net worth. Chances are you're not in the market just to pay bills but if you are then just making $2K per month is fine but keep in mind that you will have some losses and uncle sam sees your income as $2K per month from the markets so your account will take a hit at tax time.



    To sum up:

    You need at least 100K to trade for a living.
    Your monthly market income needs to be 4 or 5 times your monthly living expenses if you really want to make a significant amount in the market.
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    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."

    Good KARMA and positive energy abound.


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  • #2
    I agree with this 100%

    Trading with anything less than 100K is a waste of time as far as trying to get rich. Like you said you can get your feet wet with amounts under 100K but you should have some funds outside of Wall Street to trade with.

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    • #3
      Ok so what are some ways to get more capital to trade?

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      • #4
        Start a business

        I just read that you're an IT guy so try and think of something with that. When I was 19 I started a waste removal business in my town. We haul away debris from construction sites and such. Anyway, that made me a millionaire by age 34 and now I make a decent living. I use the market as a way to get extra income.

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        • #5
          Originally posted by NewToTheStreet View Post
          Ok so what are some ways to get more capital to trade?
          Oh man where do I begin?

          The guy above me is right about starting a business

          One option is counting cards. Sounds dumb but it works.

          One of the guys who started Bright Trading took 3K to vegas and made 500K counting cards(carefully)

          Then over 3 years he ran the 500K into 3 million

          He then took that to the Pacific Stock Exchange and ran that up to 10 or 20 million
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          The 10-Buck Broker (Long-Term Stock Picks)


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          Sign up for the forum to reply to this post!!!


          Best FOREX Signals Software

          Stock Market Investing For Beginners


          "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."

          Good KARMA and positive energy abound.


          Terms Of Service

          Disclaimer: This website provides information about the stock market and other investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for informational purposes only. The Author of this website is not a registered investment advisor and does not offer investment advice. You, the reader, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

          Promoted content: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this website and may receive commissions from purchases you make on subsequent websites. Always exercise due diligence before purchasing any product or service. This website contains advertisements.
          Best stocks to buy now Stock Market
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