Lecture Notes on Starting Trading Without Money

Introduction

• Common concern: How much money is needed to start trading?
• Key point: You don't need money to start learning day trading.
• Focus: Building skills before investing real money.

Step-by-Step Guide to Starting Trading

Step 1: Start with Demo or Paper Trading

• Avoid trading with live capital initially.
• Use demo accounts or paper trading to practice without financial risk.
• Demo accounts simulate real trading without using real money.
• Importance of gaining confidence and skill before using real money.

Learning the Trading Skill

• Trading is a skill that takes time to learn.
• Not a quick process: Cannot learn trading in one month and make substantial money.
• Watch trading boot camps, free courses, strategy, and confluence videos.
• Apply these learnings to demo accounts.

Building Confidence and Profitability

• Aim for consistent profitability over 3 months on demo accounts.
• Target: 5-10% gain over 3 months on demo trading.

Step 2: Choosing Your Path

Option 1: Funded Accounts (For Low Capital)

• Ideal for those with up to $1,000 to spend.
• Funded accounts or prop firms provide capital if you pass their challenge.
• Example: Pay $1,000, get a $200,000 demo account to prove your trading skills.
• Profit sharing: Keep 100% of profits from some prop firms once challenges are passed.
• Refund of down payment if proven profitable.

Option 2: Live Trading Accounts (For High Capital)

• Suitable for individuals with saved funds.
• Example: A person turned $300,000 into $393,000 on a live account.
• Recommended minimum: $10,000 for a futures account.
• Strategy: Compound profits over time to increase earnings.

Conclusion

• Two primary routes: Funded accounts or live accounts based on capital availability.
• Demo trading is essential to understanding trading skills before investing real money.
• Encourage to use resources and start trading based on individual financial situations.

Final Remarks

• Encouragement to continue learning and practicing.
• Reminder to subscribe and like for more free information.