Is it possible to start trading FOREX with $1000?

[1time]

Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

[Tradesta]

Originally Posted by 1time Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

Refer to this thread.

http://www.traderslaboratory.com/for...hp?p=90#post90


Trading with only $1000 is a sure way to get your account blown out quickly. Almost every trader have blown their account at least once. Get ready for the journey. Study the market for at least 1 year and have a minimum of $20k risk free capital.

[Soultrader]

Originally Posted by 1time Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

Just made a post regarding capitalization. Remember, money management is everything. Take a look here.

http://www.traderslaboratory.com/for...ease-help.html

[jose c]

Originally Posted by 1time Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

What are you trying to trade? Have you studied the market you are going to trade? There is no point opening an account unless you know what youre doing. I suggest you pay for real-time data and study the markets for a few months. Don't want to see you go broke.

[1time]

Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

[Visionary]

I am also interested in hearing about seminars. They do cost quite alot so I want to make sure beforehand.

[luke24.5]

Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

Mind if I ask whose seminar?

I think you're money would be better spent on Real-time datafeed with a simulator and a few good books regarding Market Profile and basic TA. Support and Resistance related info and chart patterns are helpful but there's no substitute for personal observation.

Cisco Futures offers a home study course with a very good rep. Scientific Investors teaches basic support and resistance.

Make sure that you're not just paying thousands for a weekend if you're new to trading. This stuff takes a while to sink in to the point you can think and trade in real time.

[Soultrader]

Originally Posted by 1time Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

I would have to agree with luke. Those several thousand dollar seminars are a big waste of money. If you are going to spend $3000 on a weekend seminar, trade 1 lots and lose it all. At least you gain the experience.

Investing in yourself is always good. But invest wisely. If you do want some experience under a professional trader, why dont you join a trading room and just watch and listen for 2-3 months. This is alot better than attending a 3-5 day seminar costing thousands.

[chaostrader]

Originally Posted by 1time Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

Forget the seminars. Spend that money in actual learning of the markets. If you interested in Forex, open a mini account and spend that money on your educational fee. Educational fee = market donation.

Be prepared to lose. Once you learn not to lose, you will learn what is required to win.

[Lisa]

Originally Posted by 1time Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

I highly recommend starting off with more risk capital. If $1000 is all you can afford to open an account, you're chances are close to zero in succeeding.