[Suzicue]

Hi everyone! It is great to be here. I just landed on this site a few days ago and I am enjoying all the information.

I am a stay at home mother and housewife. My children are all in school now and I have a lot of time on my hands. I have an insatiable curiousity and find I need to stay busy. I stumbled upon day trading in the spring and have been studying the subject ever since.

Currently, I am working on a trading plan. I plan to trade currencies and will start with one pair at this time. I will begin backtesting strategies to narrow down a strategy or two. Trading plan will include stops and limits. Not interested in swing trading at this time. In and out before closing works for me. Basically, I am trying to include every risk measure possible in my plan.

There are a couple of things on my mind and would greatly appreciate some feedback on...

1. I have 2,000 capital and plan to contribute 150 each month. Although I am not anywhere near ready to do live trading, I am wondering if this is enough capital to begin trading.

2. Has anyone had any success starting small and building up capital. If so, I'd love to hear what strategies were incorporated into your plan.

3. At this point, I think I would want some live trading training. Any suggestions where or how I can do this?

Susanne

[Derutrade]

Originally Posted by Suzicue »

Hi everyone! It is great to be here. I just landed on this site a few days ago and I am enjoying all the information.

I am a stay at home mother and housewife. My children are all in school now and I have a lot of time on my hands. I have an insatiable curiousity and find I need to stay busy. I stumbled upon day trading in the spring and have been studying the subject ever since.

Currently, I am working on a trading plan. I plan to trade currencies and will start with one pair at this time. I will begin backtesting strategies to narrow down a strategy or two. Trading plan will include stops and limits. Not interested in swing trading at this time. In and out before closing works for me. Basically, I am trying to include every risk measure possible in my plan.

There are a couple of things on my mind and would greatly appreciate some feedback on...

Susanne

Hi Suzie Q

Pretty new myself here, but I can at least answer one of your questions.

Originally Posted by Suzicue »

1. I have 2,000 capital and plan to contribute 150 each month. Although I am not anywhere near ready to do live trading, I am wondering if this is enough capital to begin trading.

1. This depends on what you intend to trade. I think that spot forex is your best bet, as can trade it with the only commission being the spread at some brokers. High commissions will kill your daytrading with a small account, so I'd suggest looking for a good broker offering that. I'm thinking about using oanda myself. They let you demo test their platforms as long as you want, so they're great for that if nothing else.

Hope that helps a bit!

[SpearPointTrader]

I would think 2000 is awful thin of a margin for futures. You could probably use some of the Mini contracts, but you won't make much money.

I have recently picked up a trading course that recommends you have at least 3 times the needed margin to controll a contract.

With a small account, you have to be really good, and have the ability win like 80% of the time. Those first dozen trades, especially, you have to win them all. No losses....which is almost impossible for a professional, let alone a beginner.