Can i become a day trader with $100?

Discussion in 'Investing and Retirement Saving' started by JibberJabber27, Aug 2, 2016.

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  1. Does anyone know how to become a day trader with $100 dollars? I don't want to invest too much money day trading because my inexperience may result in losses. I wanted to start a day trading account with 100 dollars. So far I've found a broker which leverages initial investments by 20 which means I would have 2000 dollars to invest with. I have also seen forex brokers who have leverage of 50 which means I could have 5000 dollars to invest. I've been using a demo account and have managed my money effectively and have a strategy using technical indicators. What I wanted to know is has anyone become a successful day trader with as little as 100 dollars?
    Miles likes this.
  2. Miles

    Miles Newbie

    You can become a day trader with $100 dollars but I would suggest you start with a 1000 dollars once you know what you are doing. Brokers can usually leverage your money by 20 so you will have $2000 dollars to play with. With Forex you can increase leverage by 50 as you say but this is very dangerous and you must be very good at trading otherwise you may lose more than you put in. If you have just started out and are learning the ropes you can start with $100 dollars to see how you perform.

    I only started day trading when I had good knowledge of Fundamental and Technical Analysis. I also learnt Chart Patterns and Candlesticks to get my timings right. I also understood money management strategies and backtested strategies on demo account before I funded my broker account with $1000 dollars. Good Luck.
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