How to Start a Trading Business with $500 Paperback – June 15, 2016

The author describes a series of habits to help you develop the traits of a successful trader, you don’t need a lot of money, what you need is to follow to the letter the rules that you define.

First six chapters were really good, but then when he got into professional trading it took the book in a different direction, that wasn’t fitting to title of the book. While the information on professional trading was good if I were looking for a job, I did not find it helpful if I were to start a trading business.

This guy focuses on risk management, which is a sign of he knowing what he is talking about. Also he is real when saying this is not an easy road, but then explaina how to walk it, and encourages the ones that are willing to pay the price of a trading career.

This book repeats what could have been said in a single article. It does present good advice for a beginner trader, but if you’re looking for advice on the specifics of trading, then consider another book.

Peter Devaere is passionate about trading. And he likes to share his tips and tricks in different ways (ebooks, website, seminars, ...). Based on his personal experience and his teachings he knows that, for someone trying to find out his way in this business, it is better to start trading rather quickly with a small, real money account (instead of paper trading) trying out a lot of transactions. This way good trading habits and discipline can be focused upon. A special chapter is completely devoted to social trading : an opportunity to establish a track record and a real time test.

This is one of the books you want to read if you are considering the field of trading. The author shares his own personal mistakes and encourages the reader in the first part of the book to show discipline and patience in learning how to trade right by starting out small. This is an honest approach to trading and it would benefit anyone who reads it.

This book was somewhat esoteric for me because I bagan with a much larger account and it has grown over the years. But I did appreciate one main point the author made: With $500 totsl in your trading account, your goal should not be to turn it into $5,000 or some totally ridiculous amount. Your early goal should be, simply, learning to trade with consistently profitable results. Over time, your trades can grow in value, but this approach avoids leaping off a cliff on day one or even month one. Great advice.

This was an enjoyable read. It represents a broad overview of all options available to an under-capitalized trader to enter the world of forex trading.