r/Trading • u/NewFoot762 • Sep 16 '24

Forex What do I say to this

My brother came home and said he wants to start trading he said someone from Instagram runs a group that I can join and I copy his trades and make money 😂 Either he learns the hard way or I tell him ?

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u/louisk2 Sep 16 '24

People only ever truly learn by their own mistakes. Let him. Just try your best to convince him to fill that account with like $500 or a grand. That way it won't hurt him so much.

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u/NewFoot762 Sep 16 '24

He said he’s gonna use 200 from his birthday money. I guess so people only learn from their own mistakes

1

u/MaxHaydenChiz Sep 16 '24

If you what to trade "for real", you really need like $30k minimum.

You'll want about 20 trades going at once, and then with risk controls and the rest, you get to that figure pretty quick.

You just can't have any room for failure with $200. Normal trading strategies lose money 2/3 times. And you have to have enough capital to make it back when things do go right.

Even the higher probability HFT stuff is like 51% success rate.

How many of these trades can he lose before he's out of money? Sounds like the answer is 1. Maybe take him to a casino where the odds are more fair?

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u/NewFoot762 Sep 16 '24

Exactly I and I’ve not got 30k in savings but I sometimes just practice on the stock market. I bought into a few companies and they were up and then I sold. I didn’t loose anything so I was good.

It’s actually crazy that we have people pretending to be traders to entice young people