Page 1 of 5 123 ... LastLast
Results 1 to 10 of 45
  1. #1
    Rookie Member johnpearson's Avatar

    Hey, newbie here. Couple of questions. !!!

    What kind of budget should I have starting out?
    What's the best legit broker to use for a low budget trader?
    Can you make a living doing this?

  2. #2
    Rookie Member RysioMisio's Avatar
    I would say minimum is 200$
    I use BossCapital, if you are from Europe you should try 24option
    of course, but dont caount on it, people with years of experience lose big money on binaries, its even harder for a newbie, remember- education is a key

  3. #3
    Rookie Member johnpearson's Avatar
    What makes you use bosscapital? Anything that makes it better than others?

  4. #4
    Master Member SeasaltMcFish's Avatar
    To trade with a proper money management, you'll need at least 50 trade buy-ins in your account, so it would be best to have some more, to be able to use proper MM even after some losses.

    So if your broker offers $10 trades, I would suggest you'll use at least a $600 account size (better is $1000), so you will not be forced to leave your MM when running in some losses first.

    When using a 5% MM, I would suggest to start with about 60 buy-ins = $300
    This strongly depends on your strategy and account size, so take a good look at that!

  5. #5
    Administrator Martin Kay's Avatar
    Quote Originally Posted by johnpearson View Post
    What makes you use bosscapital? Anything that makes it better than others?
    check out that page - http://www.binaryoptionsthatsuck.com...tions-brokers/
    read some reviews and see what's best for you.
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  6. #6
    Moderator Kolyo's Avatar
    Hey John,

    Welcome to CommuniTraders!

    It is great you find this place before starting trading. Follow Martin’s link and read reviews of the brokers on the top of the list. Than it will be easier to decide which broker is good for you. There are many factors to consider, but on first place is avoiding scams in all cases. I can’t say what is the minimum to start, but yes with 200 bucks you can learn, but not make any measurable income. To live from trading you need much more experience and much more capital than that.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. #7
    Legendry Member milos's Avatar
    Welcome John.

  8. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by johnpearson View Post
    What kind of budget should I have starting out?
    What's the best legit broker to use for a low budget trader?
    Can you make a living doing this?
    Hey!
    I think you would like this article http://www.binaryoptionsthatsuck.com...table-traders/.
    Some questions most beginners ask us.
    Budget depends on your money management and broker's minimum investment allowed.
    Personally, I also think you should consider the time and effort you put into one trade.
    For me, it just isn't worth the effort to make 5-10$ per trade. If I want to
    spend time analyzing charts with care and only handpick a few good setups I want to make
    at least 80-100$ per trade.
    Last edited by Okane; 03-10-2015 at 12:15 AM. Reason: forgot link
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  9. #9
    Legendry Member willyw's Avatar
    Okane is right. I agree with him

  10. #10
    Rookie Member johnpearson's Avatar
    Is there a simulator I can use? Just to get a feel for it before I start risking money?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3