How much money do you need to make a living from trading? Steve Ruffley, day trader comments. Unless you start with 5k, just don't bother. Most traders end up getting wiped because they are undercapitalised - put it this way; which business would you start with less than 5k capital? I would recommend you put in more like 25k to 30k to start with but everyone of us have different circumstances so this may not be possible. But at the end of the day it takes money to make money.
Do you believe in diversification? Risk a little to make a lot. They call it asymmetric risk/reward but is this realistic?
Guys, please appreciate this guy is a day trader, meaning he holds and sells positions for very short periods and as such his methodology may be different to others.
the only way to win in the long run and build a profitable upward curve is risk only 2 % on each trade and the winners are 2-1 greater with patience and knowledge you get real profitable trades which will make the difference. Just listening to this guy his personality he a gambler he thinks he a Harry Findlay or Terry Ramsden
I have to say I respectfully disagree with some of the things this guy has to say, not really much about his start up capital remmendation cause that's subjective but more on his disbelief for asymmetrical risk to reward. the biggest hedge fund managers Paul Jones, Ray Dalio swear by this. I just generally don't like his if you don't have the money you're fucked mentality.
"make living" is subjective
these guys are mostly looking into daily grands when talking about profits, they forget that most people are make living with minimum wage, for them make living = growing bank
I think it is as in all walks of life trading is no different , you do need to adhere to a set of principles and have a consistent approach; however everyone is different and they have different tolerances. If you are comfortable with risking 15% of your bank then you will make more money than say if you traded 1-2%. I think the guiding principle of all trades is to consider how much you could lose and your strategy for managing that loss if required, always approach your trades this way and you will be more successful.
They sell courses because their strategies are not scalable to be able to move around millions at a time not because they are fakes. Get your facts straight. Also why in the world would they want to manage a big hedge fund when the initial goal was not to work for someone else. You have your goals and they have theirs, but don't try to bring others down like that because you look stupid.
its all relative if you cant show profits using pennies over 6- 12 months you wont with 100.000 s. practice and gain experience first and build up a profitable upward curve .Its about mindset and money management
No disrespect but up to 20% return a day, a small account can turn into a large account within a short period of time and anything over 5% risk is pretty suicidal in terms of the account over time as the drawdown periods will eventually blow the account within six months. Appreciate the videos though, he reminds me of myself lol. 2% is probably absolute maximum risk if willing to experience greater drawdowns. But hey, what do I know. I've only been trading 3 years!
Simple answer- 20k to 25k will be enough to make a living, assuming you are making atleast 1 percent per day. Give or take higher days, and losses, you can make 200 hundred a day if you make 1% On that 20k. That's minimum percentage you should be making, or you might as well invest in mutual or index funds since those will ultimately do better then you in the long run
friends are there to lough with have a drink with they wont benefit you in anyway. this guy is straight forward he's got a point. my friends took the piss and said oh you will never make it in trading and now with 1 year experience i'm doing ok. friends all bullshit believe me. Trading isn't a game if you do it do it right. of course have the experience. this guy says it all simply
Wanted to say he's wrong, but I can not because every trader is different. When you start out trading, YOU WILL LOSE, so blowing 25K in a few trades is not advisable. Start with a demo account while you're learning the ropes and then graduate to a very tiny size, maybe 1000 bucks. GREED is BAD and it will burn you if you try to do too much too soon. Good luck!
Making a certain amount a day is a horrible horrible strategy and a complete selling gimick. Consider the basics of any market, each day has a different range with different patterns and most days do not offer very easy setups ( fact). Smart traders wait for those very easy setups and step in...then step back and wait for the next allowing their account to compound. This is how people make good money trading - not trading everyday for a certain percentage...but compounding on the very easy setups every once in awhile. This is literally the key to successful trading by the few "FEW" i know who actually make money every year. Your welcome.
That's bullshit. Especially crypto, 5000 pounds or $5000 will make you an ok living. If you're a successful trader, you can turn $5000 into $10,000 in about a month. In about 3 months, you can easily hit $15,000
Well to be honest, in my humble opinion, without offending anyone who thinks differently from this guy’s point of view, but also by looking into this issue in a different perspective and without condemning any body’s views. The truth is, oh! What was I going to say??
Just for Food for thought.. From the person i know who has successfully make a living in the field. he once had only invested 100$ to his account just to get used with the real market where real emotion involved. then he got his way turning that 100$ to 1200$ then he said... WELL it's not about big investment it's about Fixed target and Discipline with a crystal clear money management and risk.. Now he makes annual 6 figures a year. and he said that he needs to backup his money by investing it in real matter like 20% of his total capital by planting trees and donate them to nature because he's afraid by making huge amount of money in future index, forex, so on so fort he would temper the nature.. as in nature law you can't create nor destroy matter but it can be changed from one form to the other form. He said basically Trading future index making fast money is like creating something out of nothing which is very unhealthy for the nature and now he's thinking about retirement and promoting things like every Currency Crypto or Non-Crypto generated should be being backedup 100% by matter like Gold, Metal, Woods, so on so fort!
with 3k account you can risk a 1 lot + 40-50 pips a day = 400$-500$ a day. Im a scalper so i have 5 markets i scalp on a daily basis. i take no more than 15 pips from each market every day. obviously with losses my end of the week profit ends up being usually 70-80% of the expected amount if i won every trade. Now if you take that into consideration you can definitely "potentially" earn a 6 figure income with just 3k to start with. i think its misleading that this guy says you CANT make it with a smaller amount. Not everyone can just dump 25k into an account and then become rich. Some of the most successful traders i know personally started from the bottom fucking with microlots on a 100 dollar account. Anything is possible as long as you put in the work and gain the knowledge. One thing is for certain it is a marathon not a race
What a chump! To anybody watching this - DO NOT start with a £5k account. Start with the minimum deposit your broker will allow and do not add any more until you consistently make gains using your own well-tested strategy. Oh, and keep a trading diary and forensically review all failed trades and adjust your trading stategy accordingly.
I'll give an example using the Oil market and will be speaking in US Dollar terms. The current margin for Oil futures, CL, is about $2.2k and if you have a discount broker you can trade this instrument for as little as $600/contract. Each penny or tick fluctuation in WTI Oil is a $10 fluctuation in your PnL. As a result, if you were to trade just 1 contract and earn say 20 ticks per day, you'd be earning about a 10% ROI, since profits after commissions would be around $190. If you did this every day, never compounding, you'd earn about $48k/year. In most areas of the US, for example, this is about the median household income. Obviously this income also scales, so if one were to increase the position size to say 2, you're now earning $96k a year, 4, you're earning $192k, etc.
The critical mistakes most people make, and why most people fail, is that 1) they over-leverage their position size with respect to their account balance, then don't use proper stops considering their risk parameters 2) they get greedy, deviate away from earning 20 ticks a day, start trying to earn more, then inevitably start losing more [no strategy has an edge if you're in the market all day long, holding the same trade all day long every day], then encounter psychological trauma due to the drawdowns and losses.
If anyone actually wants to become a consistently profitable trader, you should only be using 1 contract for every $10k-$20k you have in the account. Never add to losers. Stop out at invalidation points and not arbitrary levels -- don't keep tight stops.
This guy is a joke , you can start with as much money as you want or liked and just grow your small account yes it’s going to take a few years but that doesn’t matter not everyone has 25k plus if u started with 5k and grew ur account to 25k and u loose it all u technically just lost 5k ;)
I want lots of money so I can take more time off to be with friends and family... I played the cannabis sector in the fall up to Christmas and made real nice money. Don't sacrifice friendships, that's a load of bull.
Biggest mistake in trading is to try to come up with that “ magic “ number as how how much I can make a day average .. Instead ask yourself how many successful trades could I have a day if I improve my game , and then the answer will be given to you without you asking ..
Whoever this guy is, is misleading his audience. From a £25k account, to make £500 a day is around a 700% return pa AFTER FEES! If he could do that he would be managing Goldmans. I think HE is the charlatan and the faker!
I started my business for free because I won $3000 of assets in a contest. So I think the level bar really depends on how hard you want to work. For him, it's not worth doing any work for less than that, because of the gains he has seen. But for someone starting out, with drive and intelligence, you can turn much less than 5k into much more in a few months.
Trading computers will always find a way to take your money. This guy is way too positive about day trading. I started day trading full time with 15 K USD, and my goal was to make an average of $100. a day ... after one year, I had lost a total of 3 K dollars. I did my homework, took a trading course at my local university, I did the research - I also traded options. Almost all of my day trading friends were also not making any money. Know this to be true. Trading computers will always find a way to take your money.
True 25 k - 15 k a month off 2%
500$ a day - save it cash out towards. The end of the month ..
Easily but yes you do have to put the work in it .. True you can't go in with the mindset of loosing your money think of it with as a learning experience don't give up learn and improve your skills .. I wouldn't start at 25 k
Your asking for it then you shoukd start with at least 1,500 if you want results !
1% of your bankroll per trade and win consistently. Win consistently is way more important than the amount of money. Get that system working and the money will increase over time. Anything else is putting money in a slot machine.
OK, what this guy is saying is in regards to FULL TIME Trading. If you don't have $5000 to start than please DONT QUIT YOUR JOB! Swing Trading is certainly the best way to earn/lose as a Part Time Trader with under $1000. Lets be realistic, if you make 25k/year at your job and earn 20% from a trade with an account of 1k you've made 200 bucks. now that may not seem like a lot but from someone coming from low income; $200 wont pay rent but it can pay some of the bills. That's a Win!
I agree with Darrell. Knowledge IS key. Get experience BEFORE you "take the whole lot" and become a trader. The gentlemen being interviewed is an every-day, hands-on trader who gets in and out as needed. Most people will not be equipped to do what he does, so they will need to take a different tack, entirely.
I completely disagree with this, Actually I'm my opinion if you start with a small amount you might be more inclined to make more safer trades. If you were to start off with £500 and made 2% a month after 5 years you would have over £50000. Tell me any kind of invest that could make that kind of return in a 5 year period. Trying to make 15-20% a day is complete rubbish in my opinion. Start off small and treat it long term by gradually increasing your account size
J T We agree...Any profitable strategy should work whether you turn £500 into £5k or £5k into £50k. All traders need to have a training plan, step1 proove u are consistent and profitable...every new trader should go thru initial trading phase (build an asset: turn initial £500 account into £5000) then STEP2: use your skill to make money... each pro trader should go thru trading phase (build cashflow from assets: turn £5k into £10k every week or period). Steve Ruffley IS A PRO, he's not advising how to move from new trader to pro trader, he's advising how to be a pro trader only.
You can start with 100000 an still loose all if you don't know what you're doin. So knowing how to trade is key not how much you start with. An 10% a day is nothing. With true skills you will make 800% every month. So this dude can fuk off
$500 a day on a 25k account is only 2% a day which is very realistic because you shouldn't even be risking more than 2% a trade. Even if you lose a couple trades that day you should have a T1-T2 so you can easily cover loses. you can prolly do that risking 1% with a good strategy.
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