TradingView absolutely sucks for simulated trading. Margin doesn’t work, you can execute 1000 lots on a $100 demo account and tracking performance basically doesn’t exist. Reply-mode is an equally low effort feature and regular demo accounts with broker don’t offer much of anything to make testing manual strategies efficient.
If you wanna invest some money, then sink it into a proper simulation platform like forextester for example. Doesn’t cost the world and makes learning so much more efficient. Saves you hundreds of hours
With IB you need min £2k to play with real money so as others have said best to get a plan together. Other issue is that you need min $25K if you want to day trade as you get hit with the PDT rule. There are ways around that for small account (you can look up online). Trading 212 is not bad on the regular GIA account but they do seem to restrict you if you do too many trades a day ( so i hear) CFD is not good as their spread is almost double the others. WIth CDF I use Capital .com at the moment but im sure there are better options out there. Use brokerchooser .com and see if anything they recommed works for you.
I really like TradingView and have it connected to IB. You could just use the paper trading connection they provide or make an IB account and use the paper trading account.
50 bucks is perfect. Focus on percentages and not the dollar amount. Don’t strategy hop. Have a set of rules of why you are entering a trade and where you’re going to exit.
Once you get it down, the easiest thing is to just increase your capital. So 50 euros is perfect. Don’t listen to these ppl bashing you about starting with 50 euros.
Exact route I’ve decided to use. Webull Demo accounts weren’t realistic enough for me. So I just use $50 and really focus on my set ups and risk management. It’s something about real money gets your emotions going a little bit
I’ll be the one to give you some actual advice. This is a small amount which may be a good thing as it minimizes loss. Spend the first hour of the day watching the market and your target position. Set up a plan. When you enter, and where you expect to exit. (Keep losses under 10%) Good luck.
Don't trade what should not be traded and wait for the perfect moment, it might not come daily but that will give you more money on the long run than lots of not so perfect trades daily.
Well this is day trading sub, so not really the place to discuss swing trading. I'm no crypto expert and I don't trade crypto, but the crypto market as a whole looks bearish to me at the moment, especially with rate cut expectations being pushed back. Maybe not the best time to be entering crypto positions now, unless you know what you're doing.
Have you set up an account yet? Have you paper traded before? What do you plan on trading? Stocks? Options? Futures? What tickers will you be watching?
What is my strategy? What am I looking for to enter a position. What is my stop loss, target price. What would cause me to exit this position (once already in).
What type of trading do I want to do. Day trading, swing trading, long term investing?
Some questions to ask & answer for yourself while new to the market
I recommend Webull for stocks/options. They also have a good paper trade system. Robinhood is beginner friendly but no paper trading on there.
Let me know if you have further questions. I am in America so it is probably different
1) Do you have a proven back tested strategy yet? Minimum 1 year of data?
2) If yes, then start in a live demo account and trade for 3 months
3) If after you are profitable in the demo for 3 months, switch to a small live account or a small prop firm account
this should be the default response for everyone asking this question. if someone cant do these 3 things then they shouldnt even consider putting real money in.
I haven't started trading yet myself but I do have a kuve account set-up now and £180 in it. I intend to keep loading up until I have a grand in there before I start trading, so it's demo mode until then for me.
This will sound small but don’t worry about the dollar amount at the moment. Start by betting cents to make more cents. If you can manage to be consistent with more wins then losses. Then add a little more and so on.
Don’t get stuck on losses because it comes with the game
Don’t over leverage on trades
Trade with the trend
Have a stoploss set in place
Don’t let your mental get to you
It’s way more to learn but just start here
Greed will steal your profit - remember that. Better to make 5 x 20% profit trades than always chasing that 100%+ profit on a single trade. You'll find it less stressful and still make the same money, if not more.
The short answer: Don‘t.
The long answer:
The dos: Take that fifty bucks and buy something nice or give it to a stripper as supplemental tuition for her law degree. Then get a demo account and paper trade until you get a feel and sense of money flow on the chart. I suggest Trading View. Don’t learn too many strategies simultaneously, it will be overwhelming. Learn one as diligently as you would a foreign language before you combine and add others. I started with supply and demand. It is a great foundation and it works for me. Simultaneously become a nerd in financial things so you get to understand how institutions think and work. Don’t get distracted by news and hype but filter your external information sources to very few reliable channels. Instead educate yourself on how your money and everybody’s money fuels the system that the banks have set up and how everything is interconnected, from Baby formula to war in the Middle East. This game is a study of Institutional actions and behaviors and them manipulating the news as another way of manipulating the markets. Become aware of it. On the way you will find people who are on the same journey with the same interests and amongst those you will find a mentor. Then you will one day know and that will give you the confidence to switch your demo account to life. You will have losses, but you will know how to manage them which will make you emotional mature and more confident.
The Don‘ts: Never ever listen to anybody who wants to sell you a strategy that turned 50 into millions while pointing to a villa in Chelsea with Oligarch neighbors flashing the keys to a 300k sports car.
PS: Once you realize that your studies and understanding of the market give you an income that makes you independent, you will no longer have the need to want a 300k sports car. You‘ll regard it as the worm on the hook that you were smart enough not to swallow.
really appreciate the time and effort you’ve put into this response. it’s very useful and i will absolutely use it going forward. trading view demo account seems to be the most popular shout and i’ll hopefully be able to build this up so i have concrete proof if what im doing is right or wrong.
also thank u for the second last paragraph in particular, when researching this, especially as a beginner there are so many of these and they are very convincing - despite all my common sense knowing it’s a scam. cheers!
There are courses and schools that can teach this and are legit. It can be learned and people can make money with it. Be aware though that your biggest challenge is controlling your emotions. That is something no teacher, mentor or strategy can help you with. The rest is like learning the rules of the game and you‘re off to go. Good luck!👍
Got to start somewhere I suppose. Even if you lose it you will gain some knowledge. Good luck let us know how it goes. Give us more details as to what you will trade.
Thank you for the £50 🫡😂
On a serious note, papertrade for a few months to get the hang of it, test a few strategies out, have a trade journal & good luck.
When I started it took me a good six months to get used to buying and selling without experiencing crippling anxiety. Then it took about three years before I really understood price action and the factors that drive the market. Since then I've been consistently building my skills and improving my strategies.
My advice is to take a few minutes after every day to study which things you did right that day and which things you did wrong. Long term success is dependent on learning how to do the right things at the right time and not do the wrong things at the wrong time. If you don't take the time to study yourself, then it takes much longer to learn.
Best way to learn is to get wrecked, go through the pain and learn from it. Don't use demo, there is no risk and no motivation to improve.
Go go go! Get started, time in the game is the answer.
$50 won't break fees. An example. If you use $100 and it's $5 to buy and $5 to sell. You'll need a stock to run over 10% before you make any profit. Picking a stock that runs over 30% looks easy, but it's not. If it was, everyone would be a billionaire. If you plan on letting it sit for a week and find a really good stock, maybe you'll make $10, but the odds are almost impossible. Realistically, it takes about $200 on a stock priced close to $1 to break fees on a day trade and the odds of it being gone the same day are high. Trading simulator!
back test a system with a positive EV.. Try it on a demo if it goes right then start dollar trading and when you master psychology with real money scale up.. That's how my mentor told me and I'm doing it
I want you to go into your closet and find some thing that means a little bit to you, but you haven’t used it in a long time. Then I want you to take it out to the street and sell it to somebody. If you can do this, you’re ready to trade, none of these companies are attached to you the second you get to some profits make sure you take them. If you don’t lose any money, you’re so far ahead of the game it’s insane.
Open a sim account/paper trading with the broker you’re thinking of joining. This gets you used to their systems, UI, and basically navigation and set up.
Once you find your edge, fund whatever you feel comfortable with losing. Don’t risk more than 2% - 5% of your account per trade. Keep track of PDT rules if it applies. Keep track of settled funds. The true learning starts with a funded accounts. Trade the chart. Follow the trend. Before you enter, make sure it fits your strategy. Create unbreakable rules for yourself. Journal all your trades.
Good luck!
Find a system that a lot of people trade and has some street cred to it; start with paper trading, and trade that system until you are consistently profitable. Then go to small size for live. Study your charts every evening. If you do this you have a good chance of being profitable in a couple years if you work your ass off. Best of luck.
Don’t day trade, with 50 bucks you could take risks on high profit swings… For example I bought $AIRE at 0,6$ 4 days ago, now it’s trading at 1,8$… Have a selective watchlist, observe and take action when you see an opportunity!
Ur right to be sceptical, u shoudnt trust a stranger online just cuz he said sth especially on reddit, but in this case you can do the math yourself, so im saying dont trust me, but trust the math.
I would tell you not to. Put the money into a savings account, get a job that allows you to save more than a tank of gas or petrol or whatever you call it, THEN think about doing some basic investing, THEN worry about day trading.
If you're dead set on learning the skill before you can actually bankroll it yourself, then consider doing a demo account or if you're really itching to waste your money, do a prop firm.
It's not possible homie. 50 bucks is gambling money and there is no possible way you could make any money with 50. I'm sorry and I respect that but you're about to lose. It's way more beneficial to paper trade for a while. I wouldn't actually attempt daytrading with non PDT/futures margin account. Please do go and learn and don't be afraid to lose. My firm started crying about the strike prices on the options I was trading so now I go to the futures... it's been an adjustment. But I'd just paper trade and if you only have 50 bucks save for some shitty prop firm and get through it the stages. That alone will teach you. Plus if you blow it up (and you will) you're not out 50k you're out a few hundred bucks.
You can open an account with Robinhood or Charles Schwab Corporation, deposit your 50, and begin trading. There are also proprietary trading firms that may offer larger accounts after passing certain tests; one example is Surge Trade, which allows you to undergo a $50 trial for a chance to obtain a $10,000 account. However, the most crucial aspect is to focus on a single strategy, remain patient, and prioritize education.
Start on demo until you at least have somewhat of a working strategy. If not, you'll have better odds and more fun at the blackjack tables.
I came here to say this ☝🏼
on which platform do u recommend?
Trading view
Interactive Brokers has a fake money account as does TD Think or Swim (now Schwab). I like IB better.
TradingView absolutely sucks for simulated trading. Margin doesn’t work, you can execute 1000 lots on a $100 demo account and tracking performance basically doesn’t exist. Reply-mode is an equally low effort feature and regular demo accounts with broker don’t offer much of anything to make testing manual strategies efficient. If you wanna invest some money, then sink it into a proper simulation platform like forextester for example. Doesn’t cost the world and makes learning so much more efficient. Saves you hundreds of hours
Use trading 212 bro - I’m UK based so hit me up
With IB you need min £2k to play with real money so as others have said best to get a plan together. Other issue is that you need min $25K if you want to day trade as you get hit with the PDT rule. There are ways around that for small account (you can look up online). Trading 212 is not bad on the regular GIA account but they do seem to restrict you if you do too many trades a day ( so i hear) CFD is not good as their spread is almost double the others. WIth CDF I use Capital .com at the moment but im sure there are better options out there. Use brokerchooser .com and see if anything they recommed works for you. I really like TradingView and have it connected to IB. You could just use the paper trading connection they provide or make an IB account and use the paper trading account.
50 bucks is perfect. Focus on percentages and not the dollar amount. Don’t strategy hop. Have a set of rules of why you are entering a trade and where you’re going to exit. Once you get it down, the easiest thing is to just increase your capital. So 50 euros is perfect. Don’t listen to these ppl bashing you about starting with 50 euros.
Exact route I’ve decided to use. Webull Demo accounts weren’t realistic enough for me. So I just use $50 and really focus on my set ups and risk management. It’s something about real money gets your emotions going a little bit
what broker do you use?
This should be top comment
thanks a lot for this, really helpful. out of interest, what rules do you use when entering and where to exit a trade?
I’ll be the one to give you some actual advice. This is a small amount which may be a good thing as it minimizes loss. Spend the first hour of the day watching the market and your target position. Set up a plan. When you enter, and where you expect to exit. (Keep losses under 10%) Good luck.
thank you very much, this was very helpful. i really appreciate it
Immediately switch to higher timeframes & do swing trading. Less emotionally taxing & profit potential is bigger.
Don't trade what should not be traded and wait for the perfect moment, it might not come daily but that will give you more money on the long run than lots of not so perfect trades daily.
Give me your 50 bro and start with demo.
What do you plan to trade with £50 and no leverage? Penny stocks?
fractional shares would help
Seriously, answer this question op. If you are frantically researching this right now, stop trading.
see above pls
You can trade anything with fractional
edited the post to say swing trading in crypto
Well this is day trading sub, so not really the place to discuss swing trading. I'm no crypto expert and I don't trade crypto, but the crypto market as a whole looks bearish to me at the moment, especially with rate cut expectations being pushed back. Maybe not the best time to be entering crypto positions now, unless you know what you're doing.
Have you set up an account yet? Have you paper traded before? What do you plan on trading? Stocks? Options? Futures? What tickers will you be watching? What is my strategy? What am I looking for to enter a position. What is my stop loss, target price. What would cause me to exit this position (once already in). What type of trading do I want to do. Day trading, swing trading, long term investing? Some questions to ask & answer for yourself while new to the market I recommend Webull for stocks/options. They also have a good paper trade system. Robinhood is beginner friendly but no paper trading on there. Let me know if you have further questions. I am in America so it is probably different
You’re golden
1) Do you have a proven back tested strategy yet? Minimum 1 year of data? 2) If yes, then start in a live demo account and trade for 3 months 3) If after you are profitable in the demo for 3 months, switch to a small live account or a small prop firm account
this should be the default response for everyone asking this question. if someone cant do these 3 things then they shouldnt even consider putting real money in.
What do you mean small amounts with £50
My advice is what is your plan? What is your strategy? If you can’t answer either of those, save your 50.
I haven't started trading yet myself but I do have a kuve account set-up now and £180 in it. I intend to keep loading up until I have a grand in there before I start trading, so it's demo mode until then for me.
This will sound small but don’t worry about the dollar amount at the moment. Start by betting cents to make more cents. If you can manage to be consistent with more wins then losses. Then add a little more and so on. Don’t get stuck on losses because it comes with the game Don’t over leverage on trades Trade with the trend Have a stoploss set in place Don’t let your mental get to you It’s way more to learn but just start here
Greed will steal your profit - remember that. Better to make 5 x 20% profit trades than always chasing that 100%+ profit on a single trade. You'll find it less stressful and still make the same money, if not more.
The short answer: Don‘t. The long answer: The dos: Take that fifty bucks and buy something nice or give it to a stripper as supplemental tuition for her law degree. Then get a demo account and paper trade until you get a feel and sense of money flow on the chart. I suggest Trading View. Don’t learn too many strategies simultaneously, it will be overwhelming. Learn one as diligently as you would a foreign language before you combine and add others. I started with supply and demand. It is a great foundation and it works for me. Simultaneously become a nerd in financial things so you get to understand how institutions think and work. Don’t get distracted by news and hype but filter your external information sources to very few reliable channels. Instead educate yourself on how your money and everybody’s money fuels the system that the banks have set up and how everything is interconnected, from Baby formula to war in the Middle East. This game is a study of Institutional actions and behaviors and them manipulating the news as another way of manipulating the markets. Become aware of it. On the way you will find people who are on the same journey with the same interests and amongst those you will find a mentor. Then you will one day know and that will give you the confidence to switch your demo account to life. You will have losses, but you will know how to manage them which will make you emotional mature and more confident. The Don‘ts: Never ever listen to anybody who wants to sell you a strategy that turned 50 into millions while pointing to a villa in Chelsea with Oligarch neighbors flashing the keys to a 300k sports car. PS: Once you realize that your studies and understanding of the market give you an income that makes you independent, you will no longer have the need to want a 300k sports car. You‘ll regard it as the worm on the hook that you were smart enough not to swallow.
really appreciate the time and effort you’ve put into this response. it’s very useful and i will absolutely use it going forward. trading view demo account seems to be the most popular shout and i’ll hopefully be able to build this up so i have concrete proof if what im doing is right or wrong. also thank u for the second last paragraph in particular, when researching this, especially as a beginner there are so many of these and they are very convincing - despite all my common sense knowing it’s a scam. cheers!
There are courses and schools that can teach this and are legit. It can be learned and people can make money with it. Be aware though that your biggest challenge is controlling your emotions. That is something no teacher, mentor or strategy can help you with. The rest is like learning the rules of the game and you‘re off to go. Good luck!👍
What about if he starts dabba trading.
Got to start somewhere I suppose. Even if you lose it you will gain some knowledge. Good luck let us know how it goes. Give us more details as to what you will trade.
Don’t. Save money and spend more time learning.
Thank you for the £50 🫡😂 On a serious note, papertrade for a few months to get the hang of it, test a few strategies out, have a trade journal & good luck.
Following along for advice also. I've just opened an account too and am needing tips.
I'd study market structure never trade the opening wait until a range appears. Let ur winners run and cut losers Quickly!!! TRUST ME BRO!
When I started it took me a good six months to get used to buying and selling without experiencing crippling anxiety. Then it took about three years before I really understood price action and the factors that drive the market. Since then I've been consistently building my skills and improving my strategies. My advice is to take a few minutes after every day to study which things you did right that day and which things you did wrong. Long term success is dependent on learning how to do the right things at the right time and not do the wrong things at the wrong time. If you don't take the time to study yourself, then it takes much longer to learn.
this is really good advice, i will absolutely study myself to learn faster. it’s easier to learn when it’s all written down / documented. thanks!
Best way to learn is to get wrecked, go through the pain and learn from it. Don't use demo, there is no risk and no motivation to improve. Go go go! Get started, time in the game is the answer.
time in the game is the answer 🙏🏾
$50 won't break fees. An example. If you use $100 and it's $5 to buy and $5 to sell. You'll need a stock to run over 10% before you make any profit. Picking a stock that runs over 30% looks easy, but it's not. If it was, everyone would be a billionaire. If you plan on letting it sit for a week and find a really good stock, maybe you'll make $10, but the odds are almost impossible. Realistically, it takes about $200 on a stock priced close to $1 to break fees on a day trade and the odds of it being gone the same day are high. Trading simulator!
You haven't giving details about your skill level. That being said go for it. As long as you learn it is a small price.
back test a system with a positive EV.. Try it on a demo if it goes right then start dollar trading and when you master psychology with real money scale up.. That's how my mentor told me and I'm doing it
If you don't have a strategy, trade with less money.
Probably gonna lose it so don’t worry about it, try to build a strategy and play with penny stocks
I want you to go into your closet and find some thing that means a little bit to you, but you haven’t used it in a long time. Then I want you to take it out to the street and sell it to somebody. If you can do this, you’re ready to trade, none of these companies are attached to you the second you get to some profits make sure you take them. If you don’t lose any money, you’re so far ahead of the game it’s insane.
Don't use money. Just do a demo account. atleast for 3 months across
Trade it as it was 50K.
Do not overtrade or you will lose your money
Understand that this money and some more and some more and some more you will lose.
Open a sim account/paper trading with the broker you’re thinking of joining. This gets you used to their systems, UI, and basically navigation and set up. Once you find your edge, fund whatever you feel comfortable with losing. Don’t risk more than 2% - 5% of your account per trade. Keep track of PDT rules if it applies. Keep track of settled funds. The true learning starts with a funded accounts. Trade the chart. Follow the trend. Before you enter, make sure it fits your strategy. Create unbreakable rules for yourself. Journal all your trades. Good luck!
maybe I'm not experienced yet but what can you do with 50? You might as well go to the casino
Don't.
Have fun making £2 and losing £5 a week.
Find a system that a lot of people trade and has some street cred to it; start with paper trading, and trade that system until you are consistently profitable. Then go to small size for live. Study your charts every evening. If you do this you have a good chance of being profitable in a couple years if you work your ass off. Best of luck.
uuuuh, dont until you have a strategy in mind.
Manage your risk, don't ever change your sizing, winners should be bigger than loosers also what are you trading I'm curious, and what platform aswell
All in 0DTE SPY calls
what is this? a group? twitter page? link pls
r/wallstreetbets
Consider this tuition. Has to be paid, you’ll learn something from it. Good luck
Stick to the upside
Don’t day trade, with 50 bucks you could take risks on high profit swings… For example I bought $AIRE at 0,6$ 4 days ago, now it’s trading at 1,8$… Have a selective watchlist, observe and take action when you see an opportunity!
dont do it, its simple math -> over a large enough sample of trades that 50 will become 0 100% of the time
surely that’s not statistically true
Ur right to be sceptical, u shoudnt trust a stranger online just cuz he said sth especially on reddit, but in this case you can do the math yourself, so im saying dont trust me, but trust the math.
97% of retail traders lose money. Not saying don’t do it, just realize what you are up against and have realistic expectations.
Out of these 96% are people who think they can get rich ultra quick have no clue what they are doing and pump into random currencies and lose it all
I would tell you not to. Put the money into a savings account, get a job that allows you to save more than a tank of gas or petrol or whatever you call it, THEN think about doing some basic investing, THEN worry about day trading. If you're dead set on learning the skill before you can actually bankroll it yourself, then consider doing a demo account or if you're really itching to waste your money, do a prop firm.
😂
🤣
My advice is start with 100 times that
Get more money lol
50 quid. Ur fucking jokin m8 Edit: stop downvoting me. I want him to realize the game he's entering
Nothing wrong with 50 bucks, he will lose less
True
i’m young and everybody gotta start somewhere 🤷🏾♂️
It's not possible homie. 50 bucks is gambling money and there is no possible way you could make any money with 50. I'm sorry and I respect that but you're about to lose. It's way more beneficial to paper trade for a while. I wouldn't actually attempt daytrading with non PDT/futures margin account. Please do go and learn and don't be afraid to lose. My firm started crying about the strike prices on the options I was trading so now I go to the futures... it's been an adjustment. But I'd just paper trade and if you only have 50 bucks save for some shitty prop firm and get through it the stages. That alone will teach you. Plus if you blow it up (and you will) you're not out 50k you're out a few hundred bucks.
😂
Put the money on a horse!!! I’ve heard of a sure bet!!! Premature Ejeculator!!! Always comes first!!!
Don’t.
You can open an account with Robinhood or Charles Schwab Corporation, deposit your 50, and begin trading. There are also proprietary trading firms that may offer larger accounts after passing certain tests; one example is Surge Trade, which allows you to undergo a $50 trial for a chance to obtain a $10,000 account. However, the most crucial aspect is to focus on a single strategy, remain patient, and prioritize education.
Just buy a single spy 0dte call, whichever one costs closest to $50. Sell at 100% profit or let it expire worthless and come back with more money🥴