Over 800k now that is a lot of money but the amount of years that you have to wait is what I am looking at. Honestly right now I am looking to do as you say I am trying my best to see if I could just save some of my paycheck each time because I know over time that I will be able to see what I have been saving my money for. The thing is in the time that we live in we are people that care a lot about instant things and material things. Like you said you have to be able to put things like wanting to live the high life behind of you because if you do not then you would never be able to reach a comfortable living like you have.
That is a pretty low amount to start with so it will have to be higher than that. With stock trading the best amount of money to start off with is $25,000 which is what I learned before. I think the stock market would be a better choice to make money from but that is my opinion. It's best to keep saving some money and then when your ready you can begin the stock trading.
What about putting in; a little now, a little later, kind off piling up the fortune?...am saying this because when i have money in the account or in my hand am more at ease to misuse than if i have that notion, no matter how little, let me pile it up at the investment bank, it will gain a lot more and i in turn will reap one mighty harvest
You basically have pretty close to a 100% chance of longterm success with traditional investing if you diversify and choose your investments carefully - or even just buy index funds. You have a very high chance of failure by day trading - particularly with limited money and limited technology at your disposal. Some put the failure rate of traders as high as 95%. If you have a limited amount of money at your disposal, it's pretty much a no-brainer to me.
This is an interesting question. If you plan to speculate with only $100 in either market you could take years to make any real progress. Returns are generally going to be a fraction of your assets under management (AUM). Even the best traders in the world generally don't return more than 30% per year. I'm partial to the forex market though, so I would advise you to start there. Never risk more than 5% of your AUM on any given trade, and reinvest your profits. To reach a middle class income for a U.S. resident you will need about an AUM of $100,000.
If you're starting out from scratch, then definitely only consider small amounts. You've got to get used to the experience of losing money and understanding that it's not a one way bet. Once you feel comfortable with losing money and using stop losses and exit levels, then you can increase the amount you invest. It's not all about the return on your investment. It's also about risk management, and you need to get comfortable with this part of investing.
It's not the best amount, but if it's what you have and you have interest, I say go for it. Just don't expect any short term gains. You will also be very limited in trades. I started with $500. Again, certainly do able
While you can start with any amount, I feel it makes sense to start with at least $1000 minimum and go with online trading solutions. This means you have to do all the analysis and other heavy lifting yourselves and just leave the trading part to these. They may charge you more for certain transactions but you do not have to worry about the account size. One thing to remember is since the risk is less, reward also will be less.
To answer OP's question: 500$ - 1000$ is the best sum to start. That way commissions will not eat up a huge chunk of your start money.
In fact, according to what you say, it's not necessary much money to start with and if we have the art we can make it grow.
