1. Markus Heitkoetter - Trader Kingdom
Say something about day trading and the name Markus Heitkoetter would automatically flash
to mind, that is how competent and knowledgeable he is when it comes to financial trading.
In his 22 long years of experience and exposure in financial trading, he has written a wide
array of books about financial trading. Due to the length of time that he has been an effective
force in financial trading, it is just but right for us to see him as an authority.
For the sole reason that he is regarded as the master of financial trading, Markus accepts
invitations to conduct training on effective financial trading and the most often asked question
to him is how much money does a person need so he can start trading. Often he advises
these people how important it is to know beforehand the kind of market they are inclined to
have great interest before heading themselves to put an investment. If you are at a loss as to
what market you can head yourself in to invest, I prepared here a guide if you intend to invest
in the main markets:
·You will need to have a minimum amount of $25,000 in your trading account if you are going
to embark yourself on day trade stocks.
·When it comes day trade futures, your trading account should contain a sum of money that
is between $5,000 and $10,000
·For trading options, your trading account should have at least $1,000 to $5,000.
· When it comes to trading forex, all you need to have is at least $500 funds in your trading
account.
An experienced financial trader himself, Markus Heitkoetter certainly knows the subject too
well. For people planning to embark themselves onto financial trading, he would often advice
them to carefully pick the market that is most appropriate to their trading style. Financial
constraints is a stumbling block encountered by many, however this should not give you
directions on what kind of market you are going to take. Otherwise they won’t be able to
secure success in the efforts that they will have.
Setting a goal for yourself when it comes to financial trading is a must, then afterwards you’d
be able to draft a good strategic plan of action that will let you achieve this.
If you don’t have enough funds to use for this kind of business yet, then you always have the
option of saving up first and then embark on it once you have enough amount to use. If you
have money already, you will have to know how much of your money you are going to trade.
A lot of people commit the mistake of investing all the money that they have. In order to know
exactly how much you should trade as a beginner, it would be best that you determine first
how much money you can afford to lose. Secondary consideration is what your financial
goals are.
Have enough money first in your savings account that would be good for at least six months.
When you have reached your desired amount, save it for that purpose alone and never take
a single dime from it. Lastly never borrow money just so you can use for trading.
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