4 Replies to “Can You Start Trading With Just £500?”

  1. I agree from experience that it is not easy to make serious money with such a small bank without risking too much of your account. However, it is a great platform to practice patience and discipline!

    Nevertheless I completely agree that a small trading account should not stop you from becoming a trader to escape the rat race. Ambition and determination is key 🙂

    Thanks for the post Lee!

    1. Hey, Chick, glad you enjoyed it. I think the small account thing is nothing at all to do with how ‘easy’ or ‘hard’ it is but more to do with our own expectations as humans that make it ‘hard’.

      If we trade with small accounts, we have to understand that we have to accept small profits, and that, I think, might be one of the most difficult things to overcome. Large or small profits, the emotions and experiences that we go through during each trade are similar, and no one likes to sweat for £10…but with a £100 account size, that’s 10%….

      It’s all relative though isn’t it, and it can all be scaled up if, like you say, you maintain your ambition, determination and one additional thing I’d add; you make a conscious effort to learn, record and improve.

      Trade well. Be happy!

  2. Hi Lee, I don’t think I actually saw that last question, I didn’t intentionally leave it out!

    In the medium term I’m long on gold mining shares particularly Centamin which I’ve been trading in and out. But it’s a high risk stock and not one for the unwary (!); as a gold miner it is not only exposed to the Gold price, it is also in Egypt (unstable regulatory climate) and facing a lawsuit.

    1. Hi Andy,

      Thanks for following up.

      Appreciate the tip – as someone who has a high appetite for risk, I think I’ll give it a look.

      Thanks again

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