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I have 2000 USD what could i do?

  • #1
  • First Post: Jun 7, 2010 1:48pm Jun 7, 2010 1:48pm
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
  • #2
  • Jun 7, 2010 2:02pm Jun 7, 2010 2:02pm
Quoting petertrader
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
You can open a forex account easy with lot's of brokers Some have $500-$1000 minimums. Oanda does not have a minimum so you could probably open an account with $100. It sounds like you need to educate yourself more on the basics first though before you start trading real money.
  • #3
  • Jun 7, 2010 3:23pm Jun 7, 2010 3:23pm
Quoting petertrader
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
You can give it to me!!!

Seriously, you can find a reputable Forex broker that allow you to trade mini-lots and start from there. Personally, I prefer Forex over other instruments so I would open a Forex account.
Make your losses in demo. Earn your profits live.
  • #4
  • Jun 7, 2010 3:35pm Jun 7, 2010 3:35pm
Quoting petertrader
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
Hello

I just want to say to you you dont have to invest your money in a forex account but invest first to educate your self for some reasons.

1-when you invest in your account and you start losse the money you will not get it back.

2-if you invest to educate your self you will keep the information that you have learned and ulso no how to use your money .

3-Dont ask here wath you should do with 2000$ the people here can give you an idea wath to do with that money but wath exactly to do and how to make more money from it, for this qustion you will get an answer from the education where you will invest in or you mentor or coach that will coach.

4-remember that moneymanegement it the most important thing in forex and not so important as the technicals so that mean (how to use your money and make more money from it).

Keep in mind if you decide to trade forex you trade to make money and not to invest money.

take care and hope you make a right choice.

Greet you,

Yoenes
  • #5
  • Jun 7, 2010 6:16pm Jun 7, 2010 6:16pm
Quoting petertrader
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
If you have to ask than you have not done your own due diligence.

My advice is for you to put it in a bank, where it would be safest, or maybe a savings bond because you do not sound like you have what it takes to trade the arenas you speak of quite yet. Save it until you have a better understanding of trading.
  • #6
  • Jun 7, 2010 6:24pm Jun 7, 2010 6:24pm
I am a rookie like yourself. My advise to you that don't spend money right now on any course, book, paid site, trading account or any where. First, start study the threads in this forum or other web sites like babypis.com and open a demo account with some one like Oanda and InterbankFX or any other MT4 trading platform for charting package. Start trading with dummy money for understanding and knowledge for both forex trading as well as for trading platform. Once, you are profitable for several months, open a live trading account say Oanda may be with $100. Start live trading for few months with penny a pip to see that you are profitable. Then think about your $2000..

a rookie to another rookie..

FX_California
Quoting petertrader
Hi all,

I am rookie, i have 2000 USD, and consider where can i give it. Firstly i want to know my options (with exception Market maker brokers and micro accounts). What can i trade with this money? mini commodities (especially this i want to try out), or some futures? or some forex ECN broker?

What is the best according to you? Which serious broker allow trading with such quite low amount? (definitely with coupling orders)

Thank in advance and hope somebody will help me ;-)
  • #7
  • Jun 8, 2010 6:56am Jun 8, 2010 6:56am
If you really want to trade forex then go with OandA. Trade really small amounts (0.1% per trade = $2 risk per trade) that way you shouldnt lose too much and you can trade with real money. If you actually do good then you will make money - doesn't matter how small it is! If you can double your money using a small risk then you can use more money - if not then keep learning and practising. If that sounds like a long time then you are right - it is! Use your money as an apprenticeship .... 4 years = alot to learn. After 4 years or so of trading your views and knowledge will be completely different to what they are now - trust me!
If you want quick money then go all on Red on roulette or one hand of blackjack. You might get lucky don't draw out your pain!
  • #8
  • Jun 8, 2010 9:29am Jun 8, 2010 9:29am
Thank for all opinions, but i am pretty advanced rookie , i have some backtesting, papertrading, education and some live trades passed already. Now i am with Alpari(UK) but i have only micro account. I am earning quite low ammounts, so in the near future my next step is to try something different like market maker broker (thinghs which i wrote earlier ;-) ). What is the best solution if i have a limit 2000 USD I know it is still small amount to opening account with some ECN broker (only Fxopen allow ECN trading from 1000 USD, but i dont believe them). Are negotiable some alternatives like futures or commodities or some index from initial deposit 2000 USD?

Anyway Oanda is MM broker isnt it?

tx :-)
  • #9
  • Jun 8, 2010 7:39pm Jun 8, 2010 7:39pm
Quoting petertrader
Thank for all opinions, but i am pretty advanced rookie , i have some backtesting, papertrading, education and some live trades passed already. Now i am with Alpari(UK) but i have only micro account. I am earning quite low ammounts,...
I don't recommend you remain in Alpari. ECNs with low deposits, you have MBTrading (400$) and Dukascopy (1000$), FXOpen is a scam.

Oanda is a MM, yes, but they are the most reliable MM out there and they are one of the largest liquidity owners, they have even more liquidity than some ECN brokers.
  • #10
  • Jun 8, 2010 8:49pm Jun 8, 2010 8:49pm
Quoting Yoenes
Hello

I just want to say to you you dont have to invest your money in a forex account but invest first to educate your self for some reasons.

1-when you invest in your account and you start losse the money you will not get it back.

2-if you invest to educate your self you will keep the information that you have learned...
Sorry but I gotta disagree with most of this. I think paying someone to teach/mentor you about forex is about the worst investment you can make. You can get the same information for free. If you have money to burn then sure but otherwise I think it would be better spent on actual trading which is were the REAL education happens.

Besides, I always come back to the same question. If these so called experts are so good at trading why do they need to run a business charging people money?
  • #11
  • Jun 8, 2010 9:25pm Jun 8, 2010 9:25pm
Quoting EasySt
Besides, I always come back to the same question. If these so called experts are so good at trading why do they need to run a business charging people money?
Why dont you spin your own cotton to make your clothes, or cut the leather for your shoes, build your own iPhone or computer or your house.... because Levi's, Nike, Apple and Dell just do it better. Thats why.

The fact is, you could do all of that yourself but it is easier to have someone else do it and give you a finished product. Much like paying for training, it helps to cut out some of the beginner (IE stupid mistakes) because you dont have the experience to do it yourself.

Did you go to school, college, get training on any subject. Would you go to a self taught doctor to have an operation? Or trust a self taught lawyer... those professions all got training somewhere and it wasnt just from a book.

The only problem is finding legitimate training, now that is the hard part.
  • #12
  • Jun 8, 2010 9:52pm Jun 8, 2010 9:52pm
Quoting traderjai_inhi
Why dont you spin your own cotton to make your clothes, or cut the leather for your shoes, build your own iPhone or computer or your house.... because Levi's, Nike, Apple and Dell just do it better. Thats why.

The fact is, you could do all of that yourself but it is easier to have someone else do it and give you a finished product. Much like paying for training, it helps to cut out some of the beginner (IE stupid mistakes) because you dont have the experience to do it yourself.

Did you go to school, college, get training on any subject....
I fail to see your point. Well I do kinda sorta see it but pretty much disagree in every way. How you go about equating manufacturing blue jeans to trading forex is beyond me.

And if you are willing to pay someone who promises you chart input on one end and money flowing out the other end then I think EVERYONE is getting EXACTLY what they deserve in that transaction!
  • #13
  • Jun 8, 2010 10:18pm Jun 8, 2010 10:18pm
Quoting EasySt
How you go about equating manufacturing blue jeans to trading forex is beyond me.
!
Experience...
  • #14
  • Jun 8, 2010 11:38pm Jun 8, 2010 11:38pm
First off, do you have any experience trading the markets? If you don't, I would suggest what EasySt has said: Open an acct with Oanda for $100 and get some practice in. Trade the smallest position possible, penny trade the heck out of that acct. When you've made about $10-$20 buck profits, then deposit a little more and increase your risk just a bit.
  • #15
  • Jun 8, 2010 11:54pm Jun 8, 2010 11:54pm
Leave it in the bank. Go get a job, and come back when you have 10K to invest.

In my humble opinion trading smaller accounts are much harder to trade from a psychological and discipline MM point of view, as the $$ figures of 1%ROE is almost worthless. So you just make it hard on yourself.

Unless you are willing to lose the 2K then put it in OANDA or Dukascopy, and trade naked (no indicators, only horizontal lines s/r).

Thats my opinion.
  • #16
  • Jun 9, 2010 12:52am Jun 9, 2010 12:52am
Trad3r,

i have doubt about these ECNs brokers with initial deposit
MBTrading (400$) and Dukascopy (1000$) I think they are both MM thats my oppinion.

All,

I want to try Oanda, but i need to see some prospect of it. Is here someone who got rich with MM broker (at least who save up money with this broker to ECN broker)

Generally, are MM brokers worth to trade with them? :-)

(btw. sorry for my english)
  • #17
  • Jun 9, 2010 12:59am Jun 9, 2010 12:59am
Quoting petertrader
Trad3r,

i have doubt about these ECNs brokers with initial deposit
MBTrading (400$) and Dukascopy (1000$) I think they are both MM thats my oppinion.

All,

I want to try Oanda, but i need to see some prospect of it. Is here someone who got rich with MM broker (at least who save up money with this broker to ECN broker)

Generally, are MM brokers worth to trade with them? :-)

(btw. sorry for my english)
Never had an issue trading or withdrawing money from oanda. Sometimes you will see a delay around your order from when price hits it and when the order is shown to be filled in the market, but hasn't caused me any greif.
  • #18
  • Jun 9, 2010 3:10am Jun 9, 2010 3:10am
You can do wonders with it or just blow it in an hour

Or..

You can paypal it to me
Trade what you see, not what you think.
  • #19
  • Jun 9, 2010 4:47pm Jun 9, 2010 4:47pm
Quoting fxdanny4x
Leave it in the bank. Go get a job, and come back when you have 10K to invest.

In my humble opinion trading smaller accounts are much harder to trade from a psychological and discipline MM point of view, as the $$ figures of 1%ROE is almost worthless. So you just make it hard on yourself.

Unless you are willing to lose the 2K then put it in OANDA or Dukascopy, and trade naked (no indicators, only horizontal lines s/r).

Thats my opinion.
Personally I try to think of it in terms of pips first, actual dollars second. As someone else here suggested, the best way to do that is probably to build it up slowly.
  • #20
  • Jun 9, 2010 5:46pm Jun 9, 2010 5:46pm
Peter,

1. First thing to do is open a micro account you can do that by going to fxsolutions or fxcm broker.

2. Next use good money management never risk more than 1% at any given time, micro account accounts will help you get your feet wet without lossing your account.

3. When you master trading a micro account than you can move up to a standard account.
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