Starting with $50
Page 1 of 505 123 ... LastLast
Results 1 to 10 of 41

Thread: Starting with $50

  1. #1
    Many people I know don't have $50,000 to perform with in the FOREX market. Where I live most individuals don't have ANY extra money to invest with. According to that single problem I will try to demone how anyone can work at Burger King and (after saving $50) purchase the markets. You need to always start a DEMO account first and get familiar with this or any other technique for at least 50 transactions imo before going into LIVE trading.

    This will be a long term journal but should appreciate quite rapidly after it gains momentum. The majority of people will scoff at such a small first deposit and inform you that it won't ever amount to anything. . .don't listen to them and recall the little engine that could...I believe I can, I think I can...

    I'll use a demo account I opened last week sometime and show screen shots. BTWI opened it up with the $50 and have turned that into $70.84. . .account opened Aug 6th

    Next post will show indiors and time frames used.
    https://forexintuitive.com/attachmen...1634579449.mq4

  2. #2

  3. #3
    From here on, I will show three charts: the Daily, 4 hr and 1 hr for entry.

    Daily will reveal general trend and looking for matching 5,5,5 and 21,5,5 Stochastics, doing precisely the exact same thing ideally. If both are over bought/sold in precisely the exact same moment. . .bingo! Otherwise, we look at the 5,5,5 as primary. I will be using another indior just on the Daily chart call the BB_MACD_CCT to assist visually with the trend...I really don't need it but it seems cool.

    4 hour charts will need to match the Stochastics on the Daily chart. 1 hr chart should fit the 4 hr chart.

    Now sometimes it is simple to see what's going on even though the charts aren't lined up yet. For example, let's state the 5,5,5 Stochastics is getting ready to plummet on the Daily chart. The 4 hr chart shows something a little different like it is heading north. What's really happening is that the 4 hr is racing to line up with the Daily chart. . .it is going to be overbought.

    Therefore, in that circumstance, I will be putting a pending Sell Stop order in knowing it will be tanking soon, probably after I go to bed.

  4. #4
    Ever realize that you drank entirely too much and then, throughout the day, you begin to remember pictures of things done? Can I actually put that lamp shade on my head and e with the directors? I did not blow chunks on your own front porch. . .did I?

    Well, I am back and I realize why I went off the deep end. It seems like an embarrassing bad drunk encounter.

    I simply could not understand why one of my Stochastics would reveal overbought and another (on the same 4 hour chart) would reveal oversold. That is specifically what sent me over the edge. . .and then simply to doubt my entire method of trading.

    Short Reply to my question? A trend was occurring (continuing) along with a pullback (throughout the trend) was occurring - ideal time to go into!

  5. #5
    An additional thing you guys might discover interesting.

    I fulfilled one of these guys we read about who got busted for a Ponzi scheme. I won't get into the way I met him he is in prison for this. I asked some questions about his personal trading style and the responses were amazing.

    This man turned $25,000 into $3.9 million in one day on one trade. Stupid simple way he did it also.

    How did he/do you fail? You stop taking a look at the diamond and focus on the small defects and get hauled away.

  6. #6
    Quote Originally Posted by ;
    That is my type of journal. . .very realistic. I am in precisely the exact same position as you. . .well I'm one day. Right now I am demo trading but when I do start live trading it will be using a small amount of money like you.

    I am very interested in seeing how you do. I would like to wish you success.
    Thank you very much. Self-taught trading is equally one of the most rewarding and the very fruing accomplishments in my life. These last two months are borderline ptic within my obsession to actually figure out it to the point of being consistent and reliable.

    Nothings great but now I should be able to prove it can be done. . .starting with very, very little funds.

  7. #7
    Hey OCD,

    FXCM kindly gave me $50 to test their new spreads some time ago so thought I would join your celebration here.

    I just hit this account when I'm bored, itchy, and not eager to pull the trigger on proper account etc etc..

    Had a couple margin calls cause maxing out the leverage on many intraday scalp transactions and it is only 50:1 which is keeping me honest. The margin call is basically my Stop Reduction haha

    Anyhow... See how long I could hold on.

    Trade Explorer attached. . Our balance seems to be about the same right now...


    AUD/USD just struggling at this pretty massive support right now. After / if it re and break evaluations will add a little more searching for 1.170. Will take just a bit though. The risk is a NFP quit smoking tomorrow would be very happy if we could bust down lower today but anyway. This is my very first effort at a position type trade/ long haul. It'll either make or break this account.

    G/L to me


  8. #8
    If I did this right we ought to be looking at my 4 hour chart I use to determine overall trend/direction.

    Vertical blue lines are where I placed a pending order. Now in the event that you look at tonight's Stochastics, both are oversold. Ought to have a change and an endeavor to reach the 60 SMA is the way I read it. I am going long to get a bullish trade....this might be a wrong call predied on tomorrows data.

    You'll notice the bottom Stochastics is pretty smooth in discovering over bought/sold conditions. . .set it at 21,5,5

  9. #9
    Here's where you decide your entry/exits.

    What you'll be looking at would be the two distinct Stochastics, the Fibonacci retracements as well as the FivoPiv_v2. Establish the Fibonacci's with 10 times worth of data moving from high to low or low to high, depending on which took place.

    Vertical blue lines are when I put the order. Horizontal blue lines are my entrance and flat red lines are my departure. . .all pending orders. I do this since the market will come to me or it won't.

    My entrance will be only above the Pivot line, exactly at the 31% retracement line. Most people would let you input the 23.6% retracement line but my experience was that it's a strong resistance level. If it hits 31% then it'll hit 38.2 which means a major reverse is taking place as a result of favorable news.

    I'm presuming that the currency is gont undo out of its bearish outlook and grow all the way to the 50% retracement line however I will be conservative and depart at the Resistance 1 (R1) level.

    BTW, this order was for .02 lots (in 1.23035 and depart at 1.23282). That's what I can afford so that is the size that I buy.

    Reason this transaction functions? Data is favorable. Reason this transaction fails? Data not quite so good, possibly even negative.

    Now we'll wait an see - shoot ego and flush it down the toilet. . .welcome to FOREX baby!

  10. #10
    Beginning with 50 might be potential for experienced trader but for somebody who's not profitable or just starting- which 50 might be better in cent acc = 5000 cents. It would give much more room for mistakes.

    Nevertheless - pleasant and interesting thread, I´ll keep my eye on.

    Good luck, mate!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information