 budget What's up money geeks mr. V here welcome to another video guys so in today's video We are going to continue our series on how to make two hundred and fifty dollars a day blueprint So we started the series we talked about Which account types you should open initially? We even talked about the platform that you need to choosing the right platform So if you didn't watch that video on choosing the right platform I'm gonna hook it up here So you can definitely go check that one out and then we follow up that one by Opening the accounts that you want to use for trading which account type should you open? So we talked about it the two different account types of margin account and the cash account So I told you guys which one works best for you based on your situation. So if you watch that video again I'm gonna hook that one up here so you can definitely go check it out into this video My focus is gonna be on your budget because this is one of the common questions that I get From a lot of you guys out there. How much of liquidity do you need to have to make two hundred and fifty dollars a day? So that's what we're gonna talk about into this video But before we get today guys if you're new to the channel We took about how to earn money how to save money how to invest and build wealth So that's something that interests you go ahead and hit that subscribe button and a notification bell So you don't miss out on you content So when it comes to investing in the market guys There is no limit or minimum as to how much you can put in the market with the I mean with the coming of Fractionary shares in the market. It's made it a lot easier for people that even have a very low budget when I say low I'm talking about fifty dollars a hundred dollars to people that have $25,000 in your margin account and leveraging margin So the playing field in my personal opinion has been leveled so that at least based on your budget You can definitely still invest in the market. It's the same thing like if you drive a very old, let's say a 2,000 hundred a court, that's what you can afford You still have a car or somebody that drives a 2,021 hundred a court they can afford that they have the money to do it But you guys both have a car and you can go to your various destinations So to me, that's the analogy that I want you to put at the back of your head So stop comparing yourself and thinking like oh, I need thousands of dollars to invest in the market That's not the case. So let's talk about your budget So again, like I said, if you have anything from a hundred dollars fifty dollars and up you can still invest in the market Can you treat? Absolutely, you can still treat and slowly build your account. So for you to get started guys I don't even want you to start with a huge amount of money I want you to start small because when you use that small amount of money and learn Which means that you minimize the amount of losses that you can get So if you start with let's say five hundred dollars and then you can slowly Increase your amount of liquidity that you have in your account once you understand what you're doing and you're comfortable Going big from some days. I'll only trade with like two thousand dollars because that's what the market gave me some days Even with fifteen hundred so you have to understand that this is not like I'm gonna go all in Yeah, you can do that and come out big But if you go all in and it goes the trade goes against you you're gonna be in trouble So just answer the question here. How much money do you need? There is no finite amount that you need There's no minimum so you can start with as low as a hundred dollars or you can start with a high Whatever you have but the most important thing is for you to get started and I even tell people like don't even stop really jumping into trading with actual cash you can leverage the power of Using a simulated training so you go in there and use simulators which you would use fake money So think about it if you have a thousand dollars to trade then you can go and use what called paper trading That's the other name for simulate for simulated training So you do paper trading you put your budget at a thousand dollars And they start using that buy and sell and see how good you do use your indicators use all your entry Criteria use your exit criteria is just like you would do with a real trade. Definitely you are in charge here There's not a fixed amount. I know I'm repeating this over and over again with guys Get started. That's the most important thing you have paper trading that can give you an idea of what the market is Set your indicators and use that to kind of simulate what it would be like trading I know some of the simulators don't really act exactly like what you would trade But don't get too confident because some people go in the simulators or paper trading and just like Randomly buy and sell and then they make money the thing like oh, I think I'm good That's not a kiss because when you actually have real money on the line the way you are gonna approach It's gonna be different. You're gonna be sweating nerves are gonna come in You're gonna make a ton of mistakes not because you don't know what you're doing But just because it happens to everybody you panic even in competition. You see Elite athletes will still make mistakes because of pressure. So it there's no difference for From that in the market once you put real money on the line the pressure changes It's not if you lose 10 bucks 20 bucks 30 or 100 bucks with paper trading It's not it doesn't make anything. It doesn't hurt you in any shape or form But if you lose it with real money, you are gonna be sweating So I definitely want you to have that at the back of your mind So the budget is not how much money you have is not a very important in my opinion It's important because it's gonna impact how much you make but you don't have to start making 250 a day You can start making 10 a day 15 20 30 and slowly build your way up to the point where you start making 250 So I want you to have that at the back of your mind. Yeah, I'm gonna show you guys a trade here that I did Just yesterday as you can see here on this chart. Um, this particular stock By si Opened up. There was some news about it I don't remember what the news was but there was some news about this stock. So you can see this was a $10 stock I closed on the third and then on the fourth this thing opened up instead of gapping So he goes from $10 all the way to 46 dollars almost $47. So I saw this pre market If you can see on my graph here these gray areas right here, that means pre market and then the other gray area That's after hours is the dark shit. It did that area here. That is actual Market hours. So this thing pop all the way up. So I'm looking at things like it has, you know Tremendous amount of volume coming in. So what I did is I got in here about $28 Somewhere here pre market in a distinct just skyrocketed all the way to 40 I think I got about $42 and some change. So I got here, but it went all the way to 46 So I sat there even though I was mad But because I got out early it means that with the amount of shares that I bought which it wasn't a lot I only bought like six t-shirts In this particular case, I got out early because I didn't want the situation where in pre market If you don't have a ton of volume at that point to get out You can see the same bounce and then pull right back without you getting out in time So I got out when it was still ripping up So I got a 40 I think you have 42 and some change and then that was it for me I already I almost tripled my daily goal and so I was done trading for that day So and it cost me about I think like $1600 to go in this trade and I made are close to $800 in the trade So this is something that you definitely can see that there's opportunities there and likewise If you were somebody that was chasing and you got up here Let's you got up at 45 thinking this thing is gonna go all the way to 50 it turns around and pull back The same principle would apply the same amount of profit that I would have made out of lost that same amount But again in this case I put in 15 to $1600 to make $7 or $800 so you definitely have to look at place like this and Know exactly when to get out because that's one of the things and I know I'm gonna cover this in a separate video So I want you to understand when to get out of a trade. You don't have to sit in a trade Until because you're hoping now it's gonna turn around. I hope it's not a strategy It's just something that's gonna get you in trouble. So I just want to bring this example So you guys can actually see so guys again just a quick recap here How much money do you need to get started with their trading guys? It depends on your situation what you're comfortable losing. So that's what I say you can start with that So if you want to start with a hundred bucks start with a hundred bucks if you're making two dollars and you made two dollars That's about it. You have to understand that and don't be greedy don't think that oh I only want to make I want to make a hundred dollars today No, there's days that the market is gonna take some from you and there's days that the market is gonna give to you The only question is how comfortable are you to say? Okay, the market beat me today I'm gonna get out and regroup as opposed to thinking that the market beat me. I'm gonna revenge straight I'm gonna get back right in and get beat again. So you have to be smart So discipline yourself make sure that you follow your strategy Make sure that you always know how much money you have in your account and how much you willing to lose for that It's good if my total account is five hundred dollars. I'm not putting all five hundred on the line No, what that simply means is I'm gonna lose money. So what I'm gonna do is I'm gonna risk maybe 200 out of my 500 for the day so that way if things go south I still have majority of my account to trade with so never ever put everything in your account on the line That would be something that I want you to really have at the back of your mind So there you go guys Let me know again in the comment section if this Does help if it doesn't I'm gonna try to do another video to break it down because this is a very common question Now a lot of you guys have been asking me if you're new to the channel guys We talked about how to earn money how to save money how to invest and build worth So that's something that interests you go ahead and hit that subscribe button in the notification bell So you don't miss out on your content again guys if you are looking to get started with investing I recommend Weibo because they have a paper trading where you can actually learn and Just kind of put your skills and your strategy to test before you move into using real money I'll put the links in the description below when you sign up and deposit five dollars You get free stocks at no cost to you and as always guys do your due diligence. Don't be a good savage. Stay motivated You