How much money to start with
It’s true – I started investing on this channel with $5,000,000, initially. But I fully understand that most people can’t do that, and that’s fine. So, what’s a good amount to start with, then? Well, I’ve said it before, but it’s worth saying again: In some ways, trading options is just like gambling at a casino. You should only invest what you can afford to lose. Now, you’re probably not going to lose it all, but you can never know for sure, so better to be safe than sorry.
Anyway, if a cool five mil is just slightly out of your range, fear not! With trade contracts, you can actually start with any amount of money, if you want to (and if you can find a firm that will take on your business for smaller amounts of money, which admittedly, might be difficult). But most firms are probably going to want you to start with $5,000, so that seems like the smallest number that I’d recommend starting with, especially if you’re going to go above level 1 trading (and I’ll definitely explain the four different levels in a future blog post, too).
And if that’s all you’re able to safely invest, that’s perfectly okay. However, if you’re planning to join my Patreon group (so that you can see all of my trades in real time, and make the exact same trades that I make, precisely when I make them), then you’re probably going to want to have level 3 access, to fully employ the same strategies that I’ll be using. And the minimum spend there, with any reputable firm, is $25,000. Remember, a contract is 100 shares of stock. So, for example, if you were going to write one contract of Apple stock, and Apple is $115 per share at the time, then you’d need $11,500 to be able to do that - $5,000 just isn’t going to cut it. But with $25,000 in your account, you have a lot more leeway, and if you do well on all the contracts, you could potentially be earning $500 - $1,000 per week.
So, while $5,000 (or less) is a perfectly fine starting amount, if you want to make some serious money, and you can afford to put aside $25,000 (and be okay with the risk of possibly losing it all), then I’d say $25K is the way to go. And with that, Money Makers, I’ll look forward to seeing you on my YouTube channel, my Facebook page, and my website – let’s all go make lots of money!