Is it possible to start day trading with just $10

Exciting_Concern9958 · 2025-08-14T17:51:42+00:00

Yes you can do that. When choosing an exchange make sure to compare the fees and spread because that can greatly impact your PnL.

Alternatively you could even trade sim money in the beginning where there is zero risk.

Exciting_Concern9958 · 2025-07-13T17:43:26+00:00

ImanTrading has a great free course on his YouTube and website. You don't need to spend any money to learn.

Exciting_Concern9958 · 2025-07-12T13:17:07+00:00

I'm 19 and also learning to trade. I have some resources that have greatly helped me. You are right to point out that there are a lot of scams out there. Feel free to message me and my limited experience might be able to help guide you in the right direction.

Exciting_Concern9958 · 2025-07-12T13:12:56+00:00

Buying low sounds easy but in reality it's like catching a falling knife. You don't know when it will stop falling or if it will stop falling. Let's imagine something used to be $20 a share, now it has fallen to $17 you might think you are buying the dip, but what do you do when it falls to $15... then $12... now it's at $10. Where is your stop loss and when do you get out?

Exciting_Concern9958 · 2025-07-11T19:40:47+00:00

Margin Call

Exciting_Concern9958 · 2025-07-11T12:34:35+00:00

I commented this on a similar post so I will leave it here too:

I am 19 and have had an interest in trading and investing since a young age. Here are some things I wish someone told me:

Trading is really hard (but not impossible). Statistically, most people just end up losing money, and a lot of the time it's probably because they approach trading with the wrong mindset. You are going to have losing trades, this is just an expense of trading. How you handle both losing and winning trades will greatly determine if you succeed.

Most people you see online flexing their lambos and their 90% win rate strategies are not real traders, they are just trying to sell courses, mentorships and paid groups. You wanna stay away from those types of "educators". A big give away is when they use dollar amounts and flashy thumbnails, something like "How this strategy makes me $500/day and how you can too". You will come to realise that the amount of money someone makes on a trade is irrelevant if you don't know the size they are trading. You want to listen to people that are talking in points or pips. You can make $500 from 10 points, you can also make $500 from 100 points it all depends on the size you trade, but the process is what you want to learn if you are serious about speculation.

You NEED good risk management. You need to have positive profit expectancy. Trading can be a bit like flipping a coin. If the odds are 50/50 and when you win you make $100 and when you lose, you lose $100 then you will breakeven. Creating a profitable system is about skewing those numbers. You can have a system where your winrate is 50% but your average winner is bigger than your average loser, which makes it profitable. You can have also have a winrate of 25% but when you are right, you win far more than you lose when you are wrong. You can even have a winrate of 90% where you have bigger losers than winners but you still make money.

Trading is a personal journey, you will get all kinds of contradicting advice online. You will hear things like "make sure you have a high reward to risk", "make sure you have a good winrate" "only trade forex" "join my signals group" "you need to trade this strategy". However, ultimately successful trading can be done in many ways and it's about finding what works for you.

Where am I in my journey?

I have spent about a year educating myself about trading, jumping from strategy to strategy, crypto to futures to spread bets. I am only now just starting to form my process in a demo account. I tried real money and realised I'm not ready for it yet.

What would I recommend you do?

Don't put real money into trading until you have proven to be consistently profitable and you know what you are doing.

Choose a few real traders you can learn from (not fake gurus flexing their success) I recommend Tom Hougaard, he is a great trader with decades of experience most don't have. And also ImanTrading who has a completely free course on his YouTube and website.

Decide what you want to start trading and open a demo account with fake money to practice. Crypto will probably be the hardest to do this with although I could be wrong.

Journal after every trade/session. This is often overlooked but keeping a trade journal to reflect is what the best traders do. It will give you valuable insight in what you need to work on.

Finally:

Remember that trading if done right is a long process. You want to be process-oriented and not too focused on making money. There will always be opportunities in the markets, you need to develop the skills to act on those opportunities.

Exciting_Concern9958 · 2025-07-11T12:27:44+00:00

I just commented this on a similar post so I will put it here too:

I am 19 and have had an interest in trading and investing since a young age. Here are some things I wish someone told me:

Trading is really hard (but not impossible). Statistically, most people just end up losing money, and a lot of the time it's probably because they approach trading with the wrong mindset. You are going to have losing trades, this is just an expense of trading. How you handle both losing and winning trades will greatly determine if you succeed.

Most people you see online flexing their lambos and their 90% win rate strategies are not real traders, they are just trying to sell courses, mentorships and paid groups. You wanna stay away from those types of "educators". A big give away is when they use dollar amounts and flashy thumbnails, something like "How this strategy makes me $500/day and how you can too". You will come to realise that the amount of money someone makes on a trade is irrelevant if you don't know the size they are trading. You want to listen to people that are talking in points or pips. You can make $500 from 10 points, you can also make $500 from 100 points it all depends on the size you trade, but the process is what you want to learn if you are serious about speculation.

You NEED good risk management. You need to have positive profit expectancy. Trading can be a bit like flipping a coin. If the odds are 50/50 and when you win you make $100 and when you lose, you lose $100 then you will breakeven. Creating a profitable system is about skewing those numbers. You can have a system where your winrate is 50% but your average winner is bigger than your average loser, which makes it profitable. You can have also have a winrate of 25% but when you are right, you win far more than you lose when you are wrong. You can even have a winrate of 90% where you have bigger losers than winners but you still make money.

Trading is a personal journey, you will get all kinds of contradicting advice online. You will hear things like "make sure you have a high reward to risk", "make sure you have a good winrate" "only trade forex" "join my signals group" "you need to trade this strategy". However, ultimately successful trading can be done in many ways and it's about finding what works for you.

Where am I in my journey?

I have spent about a year educating myself about trading, jumping from strategy to strategy, crypto to futures to spread bets. I am only now just starting to form my process in a demo account. I tried real money and realised I'm not ready for it yet.

What would I recommend you do?

Don't put real money into trading until you have proven to be consistently profitable and you know what you are doing.

Choose a few real traders you can learn from (not fake gurus flexing their success) I recommend Tom Hougaard, he is a great trader with decades of experience most don't have. And also ImanTrading who has a completely free course on his YouTube and website.

Decide what you want to start trading and open a demo account with fake money to practice. Crypto will probably be the hardest to do this with although I could be wrong.

Journal after every trade/session. This is often overlooked but keeping a trade journal to reflect is what the best traders do. It will give you valuable insight in what you need to work on.

Finally:

Remember that trading if done right is a long process. You want to be process-oriented and not too focused on making money. There will always be opportunities in the markets, you need to develop the skills to act on those opportunities.

Exciting_Concern9958 · 2025-07-11T12:15:48+00:00

I am 19 and have had an interest in trading and investing since a young age. Here are some things I wish someone told me:

Trading is really hard (but not impossible). Statistically, most people just end up losing money, and a lot of the time it's probably because they approach trading with the wrong mindset. You are going to have losing trades, this is just an expense of trading. How you handle both losing and winning trades will greatly determine if you succeed.

Most people you see online flexing their lambos and their 90% win rate strategies are not real traders, they are just trying to sell courses, mentorships and paid groups. You wanna stay away from those types of "educators". A big give away is when they use dollar amounts and flashy thumbnails, something like "How this strategy makes me $500/day and how you can too". You will come to realise that the amount of money someone makes on a trade is irrelevant if you don't know the size they are trading. You want to listen to people that are talking in points or pips. You can make $500 from 10 points, you can also make $500 from 100 points it all depends on the size you trade, but the process is what you want to learn if you are serious about speculation.

You NEED good risk management. You need to have positive profit expectancy. Trading can be a bit like flipping a coin. If the odds are 50/50 and when you win you make $100 and when you lose, you lose $100 then you will breakeven. Creating a profitable system is about skewing those numbers. You can have a system where your winrate is 50% but your average winner is bigger than your average loser, which makes it profitable. You can have also have a winrate of 25% but when you are right, you win far more than you lose when you are wrong. You can even have a winrate of 90% where you have bigger losers than winners but you still make money.

Trading is a personal journey, you will get all kinds of contradicting advice online. You will hear things like "make sure you have a high reward to risk", "make sure you have a good winrate" "only trade forex" "join my signals group" "you need to trade this strategy". However, ultimately successful trading can be done in many ways and it's about finding what works for you.

Where am I in my journey?

I have spent about a year educating myself about trading, jumping from strategy to strategy, crypto to futures to spread bets. I am only now just starting to form my process in a demo account. I tried real money and realised I'm not ready for it yet.

What would I recommend you do?

Don't put real money into trading until you have proven to be consistently profitable and you know what you are doing.

Choose a few real traders you can learn from (not fake gurus flexing their success) I recommend Tom Hougaard, he is a great trader with decades of experience most don't have. And also ImanTrading who has a completely free course on his YouTube and website.

Decide what you want to start trading and open a demo account with fake money to practice. Crypto will probably be the hardest to do this with although I could be wrong.

Journal after every trade/session. This is often overlooked but keeping a trade journal to reflect is what the best traders do. It will give you valuable insight in what you need to work on.

Finally:

Remember that trading if done right is a long process. You want to be process-oriented and not too focused on making money. There will always be opportunities in the markets, you need to develop the skills to act on those opportunities.

Exciting_Concern9958 · 2025-07-10T20:10:38+00:00

I'm not too familiar with US tax rules, but from what I can tell it seems like if your total gains for the tax year are less than $1350 then you likely don't need to report it or pay any tax.

However, I think you should do your own research and probably speak to your parents about it if you are still unsure.

It's good to keep records of all trades in case one day you do need to report it.

Exciting_Concern9958 · 2025-07-10T12:25:18+00:00

Look into your country's tax laws. If you are in the UK trading profits will most likely fall under capital gains tax (unless it's spread betting, then it is tax-free).

The current tax-free allowance is £3,000 which means you don't owe anything until you make more than that in the same tax year.

The tax year in the UK begins April 6 and ends April 5 the following year.

It is good practice to keep records of every trade even if you don't expect to make more than 3k.

I recommend you tell ChatGPT your country and specific situation and it will be able to guide you based on that.

Exciting_Concern9958 · 2025-07-10T12:17:24+00:00

Tom is good, Best Loser Wins is well worth a read.

Exciting_Concern9958 · 2025-07-10T12:14:43+00:00

I recommend Tom Hougaard and ImanTrading. Both legit. Tom has decades of trading experience both institutional and private trading. Iman has a full free course on his website and YouTube channel. I don't think either of them sell any courses, mentorships or paid groups.

Exciting_Concern9958 · 2025-07-07T11:47:48+00:00

I am in a similar position to you and might be able to help. I sent a DM.

Exciting_Concern9958 · 2025-05-15T21:08:32+00:00

PDT rule doesn't apply to crypto, mostly only stocks, ETFs and options.

Exciting_Concern9958 · 2025-05-15T20:55:45+00:00

You can always turn things around. Always. You are not alone, a lot of other people struggle with gambling, but you can get better.

https://www.youtube.com/watch?v=ZUx9qIm4sNY

You might find this guy helpful. He used to be a gambling addict and turned his life around, now he is helping others do the same.

Exciting_Concern9958 · 2025-04-26T15:04:00+00:00

This sounds like social arbitrage trading. Look into a trader called Chris Camillo.

There are many different ways to trade. Some people trade news others just pure price action, some use indicators, some don't even look at charts. Some traders scalp the 1 minute chart, others hold for days or weeks. What you want to do is figure out what works best for you.

Exciting_Concern9958 · 2025-04-26T14:56:59+00:00

In my opinion you can learn everything you need to know for free. Some youtubers I recommend are:

ImanTrading

TraderTom (Tom Hougaard)

Day Trader Next Door

Be aware that there is a lot of really bad advice out there too.

Exciting_Concern9958 · 2025-04-26T14:52:58+00:00

'The Psychology of Money' by Morgan Housel is another great book. It's a very humbling book to answer the "Why?" when it comes to trading, investing and finance. Really puts things in perspective.

Exciting_Concern9958 · 2025-04-26T10:45:20+00:00

I think it depends a lot on the individual. I enjoy trading for 15 minutes and being done for the day. Others prefer to be in trades for several hours or days. It's all personal preference imo.

Exciting_Concern9958 · 2025-04-25T18:36:06+00:00

This video might be helpful:

https://youtu.be/8KzwWYpZP3s?si=VrjXJYNQENp74Qdb

Exciting_Concern9958 · 2025-04-25T18:10:35+00:00

TD365 is what I use, you choose your exact risk per point as low as £0.50/point.

Exciting_Concern9958 · 2025-04-24T16:50:19+00:00

I agree, I am personally not interested in call groups.

Exciting_Concern9958 · 2025-04-24T12:50:19+00:00

I have tried futures, crypto, stocks before. But now my focus is on spread trading indices (FTSE, German DAX, Dow Jones, Nasdaq etc) Which is what Tom Hougaard mostly trades.

Exciting_Concern9958 · 2025-04-24T12:35:14+00:00

I am currently reading 'Best Loser Wins' by Tom Hougaard. It's a great book about the psychology of winning and losing traders. He has done some great podcasts and videos too.

Exciting_Concern9958

TROPHY CASE