This post is the result of a short discussion from the previous post. The question was: is it possible to get financial independence if you have only 10USD as a starting capital? My reply is - YES. Probably you won’t believe but still, let’s try to imagine such a story.You are a young guy without any solid capital, and only you have it’s 10USD in your pocket. But you are not lazy, and you are hardworking. For you, to put efforts into reaching your goal, it’s not a problem. You like to think and search for possible solutions. And you start with your 1st step which is in the right direction from the beginning! You know it because you are sure that knowledge is the basis for further steps and it will help to reach your goal. You start searching for possible variants and type of business which can give you financial independence.
You understand that 10USD, it’s a really small capital for starting a real business, and you move to something more available for you. You get a reply very soon. You remembered that one of your friends told you about amazing opportunities which financial markets can open for you. He is an experienced trader and you believe him.
It looks strange that 10USD as starting capital can open new doors but… you do research and EVRIKA!
You find a solution. You get a broker-company (a company which provides services for trading in the financial markets) with a cents account where you can put several dollars and start trading on real money. You are smart, and you understand that without knowledge in this field, you have a good chance to lose this money and starting trading right now - it’s a stupid idea.
You decide to learn more about trading in the financial markets. You ask your friend some bits of advice, you start searching for free stuff in Internet, you watch videos, and you read books which your friend shared with you (don’t forget you have only 10 USD and you can’t buy any book).
You spend months for understanding how financial markets move, how to make analysis and search for possible trading opportunities. You learn about money management and trading psychology. You grow your skill day by day. You apply your new knowledge on practice using a demo account. You still don’t try to trade using real money because you understand that you will blow them very quickly. You got this knowledge from the experienced trader. You spend more months on learning and getting experience from demo trading. Only when you get a trading strategy which suits you and your nature when you designed a money management strategy which will protect your deposit from blowing up and help you to manage money properly for faster capital growing.
You combine these strategies into a trading plan, and you are going to follow it day by day. You know how it’s important to have a trading plan with trading strategies and money management strategies, how to be disciplined and follow the plan day by day, your friend has solid experience as a trader and he shared with you this important advice. You follow your friend’s advices because you don’t have much experience yet.
ONLY AFTER THAT, you decide to try real trading. You put your 10USD on a real cent account and start trading!
You have a lot of emotions, but you also know how to control them. You have loss trades, and you don’t panic. You know that they are a part of profitable trading.
You trade day by day following the trading plan. You control emotions and don’t try to become rich very quickly.
Your friend helps you to improve different elements of trading and make your results better and trading more stable. Also, he advises you to keep records of your trades. He suggests to do it because, in the future, you will be able to show it to anyone for proving your skill and search for possible investors. You start doing it from the beginning because you trust the experienced trader.
You know you made already a lot for moving closer to your goal and everything you need now, practice in trading for getting more and more experience and continue growing your skill learning new aspects of trading. You start trading like a PRO, and you like this style… In several years. You have spent several years from that day when you decided to try trading in the financial markets. You had only 10USD as a starting capital. You made a right step from the beginning in the direction of getting knowledge, and it allowed you to save this 10USD. You learned a lot from that moment, thanks to your friends who had experience in trading, thanks for your hard working!
You believe that one day you will reach your goal - get financial independence. You knew what to do, and you moved step by step. You could grow your deposit in from 10USD into five times, and you think it’s an amazing profit in %.
You kept the statistic of all your trades which shows now how good you are as a trader. And you know that now you are a good trader.
You have everything for trading: the proven trading plan including the proven trading strategy and the solid money management strategy. Within several years you have made about 500% of profit, and it’s an amazing result. You could keep your money and have good drawdown during this period. Now you know that you are ready to move on the other level.
Start working as a money manager. You know that investors search for good traders and you know what to offer them. You start promoting yourself as a trader. You get the 1st investor who gives you a trial deposit for managing. In several months the investor is impressed by your results and give you the solid capital for managing. You start getting solid income from such trading because the investor shares with you a part of profit.
Now you trade using big capital, but you continue to use the same trading plan which was proved by previous years, you use the same trading strategy and money management strategy. They worked for you when you traded with 10USD and gave profit and they are also good with 100 000USD capital. After some time you get another investor who was also interested by your trading results. In several months the number of investors grows and the same goes about the size of capital you manage. Also, you grow your income from this activity. As investors get good profit, you get a part of this profit as rewards for managing. Day by day, you move to your main goal - get financial independence. Now you are not far at all. After some good period as a money manager, you can earn solid capital, it’s yours. You can start trading using this money, or you can continue money managing. Maybe you also want to share your knowledge and experience with novice traders or share your trading ideas for some financial websites. Now you have a lot of new opportunities which can give you a solid income and only you can decide which variants to use. All these things could become possible; all your dreams could come true only because you made your 1st step in the right direction. You decided to get knowledge and use it as a solid basis for further growth and moving to your goal!
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Guys, I spent a lot of time for writing this post, if it gives you positive emotions, I will be grateful for your LIKEs. It will be good reward for me.
Thank you!
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I invite you to take part in my FREE WEBINAR - "How to Become a Profitable Trader?" It will also support this post.
If you want to get a better understanding of how to become successful in the financial markets, register in the webinar using the information from the footer of the post and in my status bar.
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Guys, thank you very much for supporting this post! I'm grateful for your likes and your opinion in comments. There is one thing I can't understand - who writes negative comments, would you be so kind to provide more arguments why you think that this is impossible? Did you try? Are you experienced traders and know something unique, which allows you to be sure in your words? We all will be glad to read your professional reviews.
I don’t think people will invest if you started out with $10 with a 500% profit. If you did it with $100.000, okay. Big money speaks i think. $40 profit sounds weak even when it’s a big percentage gain!
I started a year ago with my first ever investment. $500 in bitcoin just to HODL. Found out what trading was and started experimenting with it. Blew my money within 3 months, also because of the bearmarket that i did not expect as a beginner.
I deposited $100 more but held it in USDT and told myself to learn and study everyday by reading, watching video’s and making my own strategy.
I held that $100 for almost 1 year without touching it. And finally i saw a chance that i was very certain about. So i decided to trade for the first time again.
Since then made a couple of trades, finally making it into $500 at the end of 2018. So just like your story a 500% gain. Or in my case, almost got my loss back from the year before hahaha.
But i’ve learned alot! And i’m planning to keep learning day by day and not getting the emotions get in my way, even tho that’s a hard thing to do.
What i’ve learned in the end, don’t trade too often. The market isn’t going to walk away. Oppurtunities will show themselves eventually.
Thanks for this post. Liked reading it! And i’ve also learned alot from you the past year. Keep it up!!
DLavrov
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@CrypTorre, I should say, there is not great difference in making stable profit in long run. Manage you 10USD or 100 000USD. If you know how to make money, how to make even 1USD per month, you will find investors. Because such results confirms that you know how to make money in the financial markets.
JoshuaVanier
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@CrypTorre, 10$ depending on where you are in the world is alot of money. Percentage gain is all that matters
CrypTorre
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@JoshuaVanier, @DLavrov To come back at what i said.. I think time is a major thing. You can have a lucky year and next year you can fail. Consistency is key!
KassandrA_dotcom
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10 USD and become a financially independent trader? Let me laugh, please.
DLavrov
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@ComeTcrypto, let me laugh if you think that it's impossible without reading my post)))
KassandrA_dotcom
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@DLavrov, I read it. But if you really think your story is right then you have probably some problems...
KassandrA_dotcom
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@DLavrov, And if you think to play with 10USD is same that play with more than 100 000 USD and with the money of others people I can say you something for sure: you are far away to be a professional trader or even a financial independent.
DLavrov
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@ComeTcrypto, LOL, the best comment of the day) Thank a lot for it! Join to my webinar, I will tell you how to become successful in trading.
KassandrA_dotcom
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@DLavrov, Haha, looking at your different call and your global win rate, I would be deeply sorry if you have something to learn me... I don't think we are playing in the same court. Have a nice day scammer.
I started a year ago with my first ever investment. $500 in bitcoin just to HODL. Found out what trading was and started experimenting with it. Blew my money within 3 months, also because of the bearmarket that i did not expect as a beginner.
I deposited $100 more but held it in USDT and told myself to learn and study everyday by reading, watching video’s and making my own strategy.
I held that $100 for almost 1 year without touching it. And finally i saw a chance that i was very certain about. So i decided to trade for the first time again.
Since then made a couple of trades, finally making it into $500 at the end of 2018. So just like your story a 500% gain. Or in my case, almost got my loss back from the year before hahaha.
But i’ve learned alot! And i’m planning to keep learning day by day and not getting the emotions get in my way, even tho that’s a hard thing to do.
What i’ve learned in the end, don’t trade too often. The market isn’t going to walk away. Oppurtunities will show themselves eventually.
Thanks for this post. Liked reading it! And i’ve also learned alot from you the past year. Keep it up!!