What to do with 50 dollars? - Part 1

Start your gold price trading today, click the link below: https://groups.google.com/d/forum/highlowtrades Depending on the gold price movement every day, gold can be traded on forex trading platforms. I am posting a series of videos of my trading results in gold from my 50 dollar demo accounts. I trade part time. Hi, Welcome to this playlist titled " What to do with 50 dollars?" The plan is to post a series of videos to demonstrate how, on a part time basis, even a common man, without any trading background, can successfully build a profitable cash flow from 50 dollars! Forex trading requires extensive practice in demo account with a successful strategy before even thinking about investing your hard earned money in a LIVE account, even if it is 50 dollars. I have practised enough in demo and real accounts for the past 6 years before creating this trading strategy. I have opened a demo account with IBFX and the demo would be on the GOLD chart. I'll be using the Strategy tester which is basically a playback option for market price movements. I have fast forwarded the player as each of these candles are of 1 hour duration. I am using a customized template for this demo and I typically use a complete template with moving averages and Fibonacci retracements. As a first step, I always mark the market opening time of the UK and US markets. This could change depending on the broker's platform you are using. Typically the highest or the lowest of the day occur around this time band. If not, there will, at least be a trading opportunity around this time band. I opened a demo account with 50 dollars and 1:400 leverage. First, I confirmed that the prices are at a high zigzag. Then, I entered a Sell order with 0.1 lot size, to check the margin level settings of the broker. I entered another Sell order with 0.4 lot size which was within the safety level for the trading strategy, I use. I will use a green vertical line to mark the order entry time and a green horizontal line to mark the market price at order entry. As you can see, I entered 2 Sell orders of 0.1 and 0.4 lot sizes at 9:22 on 5th May 2014 around the price level 1312. On the 6th of May, I once again mark the market opening times of the UK and US markets. Any object can be selected by double clicking it and can be copied by pressing CTRL and left click drag. The prices moved horizontally for the entire day on the 6th of May and started moving down substantially only on the 7th May. I have changed the dotted lines in to continuous lines for better visibility. I have marked the order closing time and order closing price level with red lines. It is very stressful to watch the price movements even when you are profitable. Hence I developed a trading strategy, where I can afford to check the prices once or twice in a day around the UK and US market opening time bands. But, I do not know of any other opportunity where by simply drawing few lines and few mouse clicks you can double your money in 2 days. But it takes quite a bit of practise to reach that level. If the leverage was the same and the initial deposit were 50000 dollars or 500000 dollars, it, also, would have doubled the same way in 2 days, with the same trade. But it is safer to grow from 50 dollars than risking huge amounts of money. I keep reminding myself that, Market is the master, always. Start small.

Comments