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Trade Sensibly: Spreadbets/CFDs/forex trading is high risk!
How can you trade/invest efficiently with with low capital? What’s the best trading strategy for people with low capital? If you only have GBP250 or USD300, what’s the best strategy going forward?
This is a very common problem; in a perfect world you have a large amount of capital to trade but fortunately these days most online brokers also accommodate small traders.
But what’s the best way to use this money to learn to trade? The worst you can do is to utilise as much leverage as you can and trade with the biggest trade size possible. You might have a run of good trades but on average you won’t last more than 10 trades. You might double or triple your money and then lose it all or you’ll lose it straightaway. That is pure gambling.
What you want to do is to make the money last as long as possible to help you learn the most. How do you get the best returns in terms of education?
First open an account with a broker that allows you to trade with GBP250. You want to trade a strategy that has a long time to play out. Even though I’m a day trader and I love day trading I wouldn’t day trade if I were limited to a very small balance. I would look at swing trading, holding positions for multiple weeks or months and I would trade the smallest size possible. And this is what you want to do – you want to trade with real money as that means you have some skin in it and there’s some meaning to your trading.
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