Trading futures with $10 Dollars. My journey and my tips.
Weeks ago I started trading (I had done trading before but I lost money), and I decided to give it a try again and I started with just 10 dollars, because when I trade before I was always anxious about loosing money in my trades, so trading with a small budget reduced that anxiety and I started to feel more comfortable trading and having more confidence in my decisions, so I began trading and I ended up turning those $10 into $160, it took me weeks but It was worth it, and how I did it?
Keeping things simple.
1. Learn basic trading analysis:There are sooooo much tools for trading, so it could be overwhelming, so I recommend learning:- Trend Lines, Support and Resistance levels, candle patterns, volume, RSI/Divergences, and EMAs, those where the things I used for my own analysis.
2. Mentality:Always be cool, don't stress, and don't rush into trades, always analyze every trade you get yourself into, if you are busy doing other things like working, exercising, etc, don't trade, wait for a calm environment to make your trades.
3. Stop loss and Take profit.Stop loss is one of the most important things when trading, so always set the stop loss when you enter a trade, if you are trading with low budget you can get liquidate sooo easy (It happened to me in the past and I learned the hard way), so never forget the stop loss, and taking profit is important, because you don't want to be greedy about your profits, price may change and you can end up loosing instead of winning.
4. Leverage
Don't use too much leverage, In the past I used x75 x100, and I got liquidated, so now I've been using x20 and it worked for me.
5. Don't go all in.
If you have 20 dollars, using leverage x20 you can trade 400, so don't trade with all your money, be patience and start small, try trading with just 50, so there is room for more trades, the more trades you do, the more practiced you get.
Before and now profits,
