Newish to Trading

[mav1978lfc]

Hello Chaps?

I'm ready to start trading proper after learning the ropes, so to speak. I've put £200 in my bank and want a steady way, to a decent bank of say £500 - £1000 in a month, so i can also purchase Bet angel. I mainly concentrate on football and the 1.5 goal market and lay the draw. This is my goal for the time being

Is there a decent way to this bank and can you give any tips to succeed in this?

Regards

M78

[Derek27]

Hi M78,

I think you've got things the wrong way round. You don't start with a bank and decide how much money you want to make. You start with a (small) bank and see how much your trading can grow your bank, and this will give you an idea of how much you can make in a month. You really need to 'start trading proper' and get some practice of trading before setting a goal of 150-400% profit in a month, which is quite a tall order, even for an experienced trader.

Good luck,

Derek

[Bluesky]

Hi M78,
Derek27 has just provided you with excellent advice. Most new traders don't realise how difficult trading is. The chances are that if you start off with your £200 you are far more likely to lose the whole lot rather than be making 500 to 1000 quid a month with it.

Start off with say a £50 or even smaller bank and don't try to make as much money as quickly as possible. Instead try to concentrate on making good trades, become disciplined, stick to your trading plan etc.

If after say 3 months you haven't blown up your bank and have more money in your account than you started with then you will have done far better than the vast majority of other people who try trading to make some extra money.

Don't be in a rush to make lots of money, instead try to learn to trade, this does not just mean the technical aspects of whatever you are trying to trade, but also learn self control, patience and discipline when applied to trading. Most of us think we already have these qualities, but we soon find out in the trading world we do not.

If you learn to trade and have good emotional control of yourself the money will come almost as a by product of what you are doing. Remain focused on the process and if you succeed the rewards can be life changing, I hope it goes well for you, but remember take your time and try and learn as much as you can about trading and about yourself.

[jonnyg]

Hello Chaps?

I'm ready to start trading proper after learning the ropes, so to speak. I've put £200 in my bank and want a steady way, to a decent bank of say £500 - £1000 in a month, so i can also purchase Bet angel. I mainly concentrate on football and the 1.5 goal market and lay the draw. This is my goal for the time being

Is there a decent way to this bank and can you give any tips to succeed in this?

Regards

M78

ask yourself in what games would you back over 1.5 goals and what games would you lay the draw in and when ? > pre off ? in running ?

staking plan ?


and at what prices ? if you cannot answer all of the questions then dont start life as a trader

[Dallas]

Hello Chaps?

I'm ready to start trading proper after learning the ropes, so to speak. I've put £200 in my bank and want a steady way, to a decent bank of say £500 - £1000 in a month, so i can also purchase Bet angel. I mainly concentrate on football and the 1.5 goal market and lay the draw. This is my goal for the time being

Is there a decent way to this bank and can you give any tips to succeed in this?

Regards

M78

Focus more on protecting your bank while you learn the markets if you try and chase a figure at the end of a month you will certainly lose at this stage, trading is hard enough to begin with without adding extra pressure

[trader44]

i trade full time in running . i met a friend who wanted some advice on trading as he wanted to give it a go..these were his words

if i can just start and make £300 a week then build up .i said £300 on your first week he said well yes averaged over the month so £1,200 a month .thats an average 35 hour week wage for some people .. i said maybe lower your expectations by a few hundred a week but obviously that put him off.he hasnt been in touch about it again as i burst his bubble

[Derek27]

When I first started trading I tried to have £2 on a horse at 1000, and accidentally entered £1000 back at at 2.00 !

If I actually had that much money in my account I would have blown the lot, and so I would always recommend using a small bank until you have enough experience to have learnt about the many pitfalls of trading, the above just being one of them.

[ShaunWhite]

I'm ready to start trading proper after learning the ropes....and want a steady way, to a decent bank of say £500 - £1000 in a month,

What on earth did you read or see that made you think this was even possible? And if you did I guarentee that the author didn't have a clue what they were talking about, or was selling you something.

If you can start breaking even after 3 months trading all day, every day, I'll be seriously impressed. That's not breakeven, that's starting to breakeven week on week, ie down.

If you want a steady way to a grand in a month then I'm afraid your best bet is to go and flip burgers.

[mav1978lfc]

Excellent advice chaps. All duly noted.

Yes, I reckon i've probably been reading (and watching on youtube) too many 'Bob Cryer's'.

[Dublin_Flyer]

Excellent advice chaps. All duly noted.

Yes, I reckon i've probably been reading (and watching on youtube) too many 'Bob Cryer's'.

Many think similar Mav, no shame in that. Massive expectations at the start only to realise there's quite a shitload of work involved. There's been dozens on this forum who come and go, doing brilliant in Practice Mode, and then tell us their going Real Money mode and will keep us updated.....gone in 14 days or less!

Getting your grips about trading isn't a week or a few weeks thing, you don't start medical school thinking once you have your degree, you'll be a consultant surgeon on a 20 hour week being paid ridiculous money. If you do, then you don't have the proper train of thought to be in medicine anyway! There's plenty of confusion, failing to see where you missed a clue, general bad weeks, and heartbreak along the way in trading just like any other job/career.

There's only a few ways to make big money with minimal effort in the world in my opinion;
1) Born into a rich family
2) Inherit it
3) Win lottery
4) Be completely full of sh1t, join your local political party, fool enough people, get elected

I know at least 3 from each category!