Is there any point to start trading with 20$? - page 4.

Aikidoka

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Quote from: LUCKMCFLY on May 13, 2023, 09:58:43 AM

The topic catches my Attention because there are quite a few Traders who say they start with $10 and that can make you a lot of Money in the long run, and in fact they do free VIP groups to help people succeed in trading the trader I saw Of that, he trades in Binary options, it is quite a risky trade, according to the trader he says that he can do it without winning, and the truth is that I am curious because firstly he is doing it for free without Charging anything,and Secondly he says that he is going to teach others people to do trading, that is something that I liked, however it is a risk, and I would like to take that risk, I will enter with 10usd to see how it goes.

I've never heard of those free VIP groups that teach people how to trade and make them earn a lot in the long run. It could be possible, but I am curious about the basics they use for binary options. If you can start with just $10 or even 20 bucks, then it might be worth a try.

Good luck with your investment, and it would be great if you could update me on whether the strategy works if you decide to try it.

Cheers!

LUCKMCFLY

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The topic catches my Attention because there are quite a few Traders who say they start with $10 and that can make you a lot of Money in the long run, and in fact they do free VIP groups to help people succeed in trading the trader I saw Of that, he trades in Binary options, it is quite a risky trade, according to the trader he says that he can do it without winning, and the truth is that I am curious because firstly he is doing it for free without Charging anything,and Secondly he says that he is going to teach others people to do trading, that is something that I liked, however it is a risk, and I would like to take that risk, I will enter with 10usd to see how it goes.

Aanuoluwatofunmi

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I think some exchange has the said amount of $20 as the minimum amount you can hold on your balance to make a transaction with, though this may also varies from exchange using twenty dollars as a beginner for a start isn't bad at all, it more more better to start small and grow the money to turn into a big investment than starting big and coming down very low later, traders make their daily income and return back the entire money together with the interest back on trading investment.

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

It's not a waste of time. It would be a great experience, however, you might develop bad habits such as overtrading and overleveraging because you want to make a large amount of money whilst being undercapitalized. You are bringing false expectations towards trading. If you are already experienced then go for it as a challenge, but if you are a beginner trying to learn, I would suggest not to. instead, start with a demo account. Build a skill, integrate a setup, and create a winning character of the trader within you. When you are confident enough, find an investor o apply for a funded account that will enable you to handle big funds.

Don't focus on making money quickly. Focus on developing your skill and money will follow. Money is not a problem when you have the skill. Money itself will find you.

Mahanton

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

Its not actually a waste of time even using up that $20 for you to start up on trading which it is really that better which you would really be that having that kind of urge on making that capital grow at least.
Big or small kind of bankroll or capital wouldnt really be that totally different because the main thing on here is on how you would be making yourself that sustain and how you do handle up yourself in terms of risks.
You cant really just assure that the bigger the capital the higher of success you would be able to attain which it is really that impossible on this way. $20 should be sufficient but of course it would be having
its con's which you cant really be able to widespread up your position specially if you are really that making some SL's or would really be having that multiple position in small lots or amount.
Just do on what you do see that it would benefit out for long term. Learning process doesnt automatically been needing some huge funds basing up on what you do have in mind.
Sustainability would be always the main target for this.

lixer

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Exciting, yes because of the unpredictable nature of cryptos but fun? I think this is only feel once you are doing well and earning a consistent profit but if it's only the loss is the one that you are getting then all you will experience is stress. Last time there is a user asking if 30 dollar is enough to start investing in bitcoin but here, another user is asking if 20 dollar is alright to use.

Of course mate, you can be able to invest or trade using that amount even minus the fee. That isn't too small. Other than having a capital, you must be concerned of learning but you are already in the right place. You can ask questions here or search topics about investing and trading. Goodluck!

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

Everything comes down to your goals and what you want to achieve, if you want to learn the ropes and get a felling of what is like to trade with real money, even if the amount is small, then those 20 dollars are more than enough to reach this goal and allow you to improve and make way less mistakes once you use a larger sum of money.

But if you are looking to make money then you need to find an exchange with extremely low fees and which accept such small deposits, but even then you will just earn a few dollars, which when compared to your capital is not a small gain, but if you are looking to make huge gains to the point you get thousands or tens of thousands of dollars then I can say to you those 20 dollars are never going to be enough.

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

Ofcourse there is. $20 is a great amount to start trading. You must be wondering why?
Because with that amount you can at least get to know how trading is done.
You may not earn big profits but you will surely learn how to trade.
It's not that big amount and so even if you lose you won't be stressed over it.
I say that everyone should start trading with similar amounts because as beginners we tend to make many mistakes.
That leads to lose our bets often and so a small trade amount should be good for beginners.

Twentyonepaylots

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Quote from: cheezcarls on April 29, 2023, 07:46:12 AM

If you are expecting any guaranteed or promised profits in the crypto space, much better save your $20 right now.

If you’re not yet knowledgeable about crypto trading, it’s not worth spending your $20 for that.

In other words, you need to learn and enhance your skills in crypto trading first by going into the demo platforms to test yourself.

And not just that, you should equip yourself with proper risk management in both time and money like getting ready for the unexpected, acknowledging the unpredictable price changes whether bullish or bearish, etc.

Indeed, also I must add that if you are not willing to lose that money, then go on saving it. Investing and/or trading cryptocurrency is risky due to it volatile nature so we should know first what we are going into so that we can make use of it very well to earn profit. I think it is a great idea for a beginner to use demo account since it would help you experience trading without risking your own money. This would be a great help to know what strategies and techniques works for you the best. So, if you are really serious in trading your money, just try to exert effort to be knowledgeable and experienced in it since it would be very helpful for your trading journey.

rhomelmabini

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

I don't think it will waste your time to trade just for $20, you could start with any amount as long as it's the minimum for your exchange to start trading. Just don't over leverage if you're planning to trade on futures. You can do it on spot trades as well and just imagine you started at $20 then you've made it to thousands, that would be the most exciting part there.

AmoreJaz

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Quote from: Issa56 on April 29, 2023, 03:49:23 PM

Quote from: Renampun on April 29, 2023, 05:25:07 AM

the minimum limit set by many exchanges for trading is $ 10, so that $ 20 capital is enough for you to trade, but with a small capital, the profit you will get is also small, remember that it is very rare that you can find assets that can increase 100x or even 1000x in a short time, so it throws away your expectations about small capital -> big profits.

$20 is okay to trade, Binance is a reputable exchange and the minimum amount which you can use to trade is $10, but I will also say the same thing everyone have been saying, don't expect huge profit, if you want to trade and you are expecting 1000x in return then you are planning to trade shit coin, and don't be suprise you are going to lose all the $20 within few minutes and you won't have any knowledge about trading, when we are planning to trade, let's be realist with our profit, trading is not a ponzi scheme where they will promise you high return with low risk, don't expect your $20 to turn $2k within few day.

this is the good thing about crypto market, you can start even you have 20 bucks in your pocket. unlike in forex, you need like about 500 bucks to start good.
if the OP doesn't want to lose his 20 bucks for nothing. better select reputable exchange first. then start small just to get the grip of trading. as you are not in a hurry to earn profits here because remember you only have 20 bucks. this is like your initial funds to orient yourself in crypto trading. don't go to never-heard alts, as you are highly risking your money to lose in that way. as a start, you can always choose btc. do take note also the min amount of coin you need to trade. it depends on the exchange you are going to use.

Issa56

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Quote from: Renampun on April 29, 2023, 05:25:07 AM

the minimum limit set by many exchanges for trading is $ 10, so that $ 20 capital is enough for you to trade, but with a small capital, the profit you will get is also small, remember that it is very rare that you can find assets that can increase 100x or even 1000x in a short time, so it throws away your expectations about small capital -> big profits.

$20 is okay to trade, Binance is a reputable exchange and the minimum amount which you can use to trade is $10, but I will also say the same thing everyone have been saying, don't expect huge profit, if you want to trade and you are expecting 1000x in return then you are planning to trade shit coin, and don't be suprise you are going to lose all the $20 within few minutes and you won't have any knowledge about trading, when we are planning to trade, let's be realist with our profit, trading is not a ponzi scheme where they will promise you high return with low risk, don't expect your $20 to turn $2k within few day.

tjtonmoy

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Start with low amount to learn the process. Create a new strategy on your own. Do your analysis on the market. Compare that to many live signals available on the internet. If your analysis seems promising, and you think that you are going to do well in trading. Even if that is true, it is always a good idea to start low.
Never forget that the market condition is always changing. As well as the strategies too. One strategy can never be used always in every market situation. Have different strategies ready for different market conditions. This will help you to stay updated with every market condition and make trades based on that.
So if you are thinking to invest with only $20, then there's no one stopping you. And new experiences are never a waste of time. You lose something you gain something, that's the deal here.

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

If you are a beginner then for starting or testing I think 20$ is good enough. Even then the amount that was not that much big what can bring good profit. But I will tell you if you want to trade for a fair profit you should invest a little more than that. Otherwise, if you want to trade with 20 dollars, I don't see any other way except loss.

SOKO-DEKE

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Since trading is known to be too risky, especially for those who lack sufficient knowledge and experience, you are not even expected to begin with a large sum of money as a new trader. The greatest strategy is to trade with a small sum of money that won't have any impact on you if you lose it. Yes, I would agree that $20 is a reasonable starting amount for a novice trader who wants to use it to gain experience. Op it might be time-wasting because it might not bring you good profits, but for a beginner, it isn't because your goal shouldn't just be to make that much money right away.

NotHatinJustTrollin

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

The starting amount is crucial, as $20 or $100 is much more significant than $1.

I remember taking three months to earn my first $1 from Paid to Click.

With $20, you can start day trading.

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Quote from: humanvelocity on April 25, 2023, 04:30:17 PM

Hello everyone,

I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?

Kind regards,
Human

The way you are mixing up trading and investment is making me to believe that the $20 you started with is good enough for you.
I don't know your financial strength, whether if you lose the $20, you will feel as if you lost a big money,
Anyways, no matter your financial strength and no matter the country you live in. I do not feel that $20, is a very huge amount of money that will give you sleepless night, if you lose
And by the way, you may not lose the $20 at the same time, so wen your portfolio is down to $12, you can decide to withdraw your remaining capital and tag it a failed trade.
Lol. Don't mind me and the expensive joke, but the case is that you should learn before you trade .

death69

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20 bucks? Pfft! That's peanuts, amigo! Wanna rake in the crypto dough? Amp it up a notch. I'm talkin' 100 smackers more.

Here's the lowdown: crypto investing's like a poker game. Yeah, you might score a sweet hand now and then, but mostly you're kissin' your shirt goodbye. Gotta play it smart, work those odds.

Speaking of odds, get this: a rando's chance of lottery victory? Roughly 1 in 14 million. Talk about slim pickings, pal. But hey, better odds than that? Becoming lightning's target. Why not throw cash at a lightning rod and pray for a miracle?

All jokes aside, diving into crypto can be shrewd and potentially cash-tastic, but research is key, and know the risks. Take it slow, ponder your choices, and never forget: the house always takes the cake.

Minecache

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Quote from: el kaka22 on April 29, 2023, 05:01:53 AM

Not trading really, I mean you could grow that if you want by working though? Crypto is filled with jobs you can take, I already have a job, but I bet that if I didn't, I could have find worse jobs than what I have now, I am lucky to have the best job in the world, but if you do not have any, you could find some. That way you could work and make a profit and then use that to increase your capital.

But if you are starting out, 20 dollars means absolutely nothing and I would suggest not to do that, makes no sense at all, even a 100% profit would be just 20 dollars and that is a very rare thing, you don't do 100% in crypto. Let alone that, investing that would mean most of it would be gone during transaction costs to begin with, so that is why it makes no sense.

If he uses $20 to experience trading, then I think that will be fine. But if he uses that $20 and thinks he can make a profit or get rich from it, he should stop. It's really a waste of time and money.

OP, I think you should consider el kaka22's advice. If you have any knowledge and experience related to cryptocurrency, find a suitable job. But if not, find yourself any job as long as it can make you money. That way, you will get better initial capital to start trading or investing. The crypto market is not a place to make quick and easy money, if you enter the market with that in mind, you will soon lose everything you have.

blockman

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You invest 20$ as a new trader in crypto world. I fully support you because a lot of people invest huge money without a little knowledge of crypto currencies and they lost their money. But you invest little which is good for you and you would know and learn about crypto as much as possible. After that you would invest more as you wish.

It's a way good start for someone who wants to try the market and see what are potential mistakes and learnings that he can make. While what you've said is true.
There are traders that have no idea and just starting out but they think that starting out with big funds will exempt them from the risk that they'll take just as the new and old traders have.
But there's no exception with that because starting with the little that you can, you'll have no fear of what's ahead as a result and you'll just able to see how it shall go whichever is the effect of your trade.

Topic: Is there any point to start trading with 20$? - page 4. (Read 915 times)