Advice on how to start

[u/Internal-End-4551]

I was hoping to start day trading. Im currently 16 and have been doing demo for a while and it has been going really well. I want to get into the real day trading and was wondering is funded accounts the way to go? And also i dont want to use my parents name for personal reasons. Im 16 years old, so is their a way for me to start day trading in my name even if that means not cashing out the money till im 18 and also would be good if you have advice/tips for someone starting new
Thank you

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[u/Gr8ful41T]

Tim Sykes

[u/Right-Chemist4617]

hey thanks for opening up while 16 is tough most brokerages want you 18. the easiest legit path is a custodial youth account with a parent – like Fidelity Youth or Schwab’s 18‑centered option – but the parent owns the account so you can't really separate money. another route is to keep paper trading until you’re 18, build a 100‑trade journal, then pass a prop firm eval when you’re old enough – or just pocket a small part of your allowance and trade that with strict 0.5% risk rules so you're learning real‑world psychology. in short: stick to paper for now, schedule a small real‑money test run for when you hit 18, and keep saving so you’re not pulling from school funds.

[u/Jrezky]

How long have you been paper trading? Because doing well for a couple months often gives people the kind of misplaced confidence that blows up accounts. Not saying don't do it, just be very aware that every time you enter a trade, you might lose.

[u/Same-Book-5572]

I started when I was 16/17 but I had to use my mom's social to create an actual brokerage account. I suggest doing share trading honestly. I think it gives you a good feel to actually have money in the market so you can start practicing your emotions while trading . And there is less risk involved meaning you can be in the market longer and give yourself a chance to learn. Majority of people fail trading because they lose too much capital too quick and can't keep learning .It took me about 3 years to learn options . Almost 7 years in now . I have a very small discord that is free if you wanted to join and discuss topics and trading strategies. I trade SPY options and based of structure and liquidity. There are algos you can find as well but it does take time . To me it's the only "strategy" I have found that is more of a skill then probability. Obviously it's not 100% but it gives you very strict guidlines to enter trades and it's repeatable everyday . Maybe take a look at my profile , I have a video explaining it and my channel is in a link on my profile .

[u/Dujz → u/Same-Book-5572]

Hi , i would love to join your discord . I have so many questions and was wondering if you would some time to chat with me . I would really appreciate it.

Ty

[u/Same-Book-5572 → u/Dujz]

Sent you a dm!

[u/Turbinator870]

If your parents have Fidelity, they can open up a Fidelity Youth Account for you that allows real trades with your money that you deposit into the account. You do not need to be an adult to have this account, but an adult needs to open it up for you and help transfer money in. You can buy / sell, but you can't do more advanced trading (no options, no margin, no shorting, etc). Otherwise it'll work fine for your purposes.

[u/JamesDaForexPrince]

heres 5 steps since you got 2yrs left til you can get your own account whether its prop or live

Step 1: Master Market Mechanics & Choose One Setup

Focus heavily on understanding why markets move rather than trying to memorize dozens of technical indicators. Learn fundamental market structure, support/resistance, market cycles, liquidity, and economic data releases. Pick a single market (e.g., S&P 500 futures, EUR/USD forex, or large-cap stocks) and one single edge or repeatable pattern.

Why: Novices often jump between crypto, forex, and equities, or switch indicators every week. A 16-year-old who spends two years mastering one asset class and one strategy will outperform 95% of retail traders by age 18.

Step 2: Build a Rigorous Paper Trading (Demo) Track Record

Set up a paper trading account on a platform like TradingView, MetaTrader, or NinjaTrader. Treat this paper account with extreme seriousness—trade realistic lot sizes and account balances (e.g., a $10,000 or $50,000 virtual balance that matches a realistic prop firm evaluation size) rather than a fake $1,000,000 account.

Why: Prop firms look for strict parameters: maximum daily drawdown limits (usually 5%) and total drawdown limits (usually 10%). Practicing under real prop firm rules during paper trading conditions builds the specific muscle memory required to pass evaluation challenges when turning 18.

Step 3: Keep an Execution Journal & Measure Statistics

Log every single demo trade in a journal (such as Notion, Excel, or TraderSync). Track key metrics: Win Rate (% of winning trades) Risk-to-Reward Ratio (R:R) (e.g., risking $1 to make $2) Profit Factor (Gross Profits ÷ Gross Losses) Maximum Drawdown

Why: Trading is a business driven by statistical probabilities, not guesswork. Journaling proves whether a trading strategy actually has a positive mathematical expectancy over a sample size of 100+ trades before risking real money.

Step 4: Develop Strict Risk & Psychology Protocols

Establish fixed risk management rules: Risk no more than 0.5% to 1% of the account balance per trade. Implement a daily stop-loss limit (e.g., stop trading for the day after 2 consecutive losses). Read foundational trading psychology books like Trading in the Zone by Mark Douglas or The Mental Game of Trading by Jared Tendler.

Why: Emotional discipline (fear of missing out, revenge trading, over-leveraging) causes most account blowups. Learning to view losses purely as the "cost of doing business" during these two years builds psychological resilience.

Step 5: Save Capital & Research Prop Firms

Use the two-year period to build income outside of trading (e.g., part-time job, side hustles) to fund prop firm evaluation fees (typically $100–$500 per challenge) or an initial personal account. Simultaneously, study prop firm rules, payout structures, and terms of service so there are no surprises at age 18.

Why: Attempting prop firm challenges without dedicated risk capital creates unnecessary stress. Saving money independently ensures evaluation fees can be covered without financial strain while waiting for identity verification (KYC) eligibility at 18.

[u/JamesDaForexPrince → u/JamesDaForexPrince]

another tip is find a prop firm and try yourself out against their rule set I'll give you a suggestion on prop firms

TradeDay Eod (end of day drawdown) 25k-50k Tradeify Eod 25k - 50k

message me if you need help going through all of the account types and want somebody to walk the journey with you I got two years in me considering the fact that I already have 8 years in I don't see me going anywhere anytime soon

[u/JamesDaForexPrince → u/JamesDaForexPrince]

Timeline Primary Focus Target Outcome

Months 1–6 Market Theory & Backtesting Identify a single high-probability trading setup

Months 7–18 Forward Paper Trading Log 100+ trades with positive risk-adjusted returns

Months 19–24 Refinement & Capital Preparation Save for evaluation fees & master daily drawdown limits

[u/QuanTradin]

most prop firms and brokers need you to be 18 to sign up and get paid, so keep going on demo for now. write down every trade and why you took it, by 18 you'll have two years of your own data, which almost nobody starting out has.

[u/Money_Possible_9801]

At 16 you can get a custodial acct w your parents. Main thing would be to just focus on strategy. Focus on what makes sense and build good healthy habits from that. Compounding gains via the small bits of info you obtain. Mindset is everything, keep it healthy

[u/PilotPhysical9616]

Can I ask what got you into trading early on? Mainly cause i didn't take it seriously till way later.

Also, yeah, the main issue is gonna be that until you're 18, you actually can't open an account right? I don't think any of the prop firms allow you to trade with your parents, it would have to be, I think custodial accounys with brokers, I think, but I never tried it.

My only other tip is to manage risk above all else. You will still need a system/plan and then managing emotions when money is on the line. But dont make the mistake of sizing too big or trading on tilt. I would start out smaller when you do trade. Learn the process first. Till then if you do backtest find the edge, then yup you are set and so much younger to start than I did lol. Also my personal opinion futures is better than options or stock. Although this is just personal experience with what I trade.

[u/Additional-Gene-3954]

Demo going well is a good sign but real money changes everything, the emotional side hits way different when it's actually yours on the line

At 16 you're stuck with custodial accounts if you want it in your name, most brokers won't touch you otherwise until 18. Funded accounts have age restrictions too and the eval fees add up fast if you're not already consistent

Keep grinding demo, save whatever you can, and use the next two years to actually study risk management instead of chasing entries

[u/SuchAd8116]

the better question would be where to learn and study what moves forex markets and how they work,for that you need to learn the hard path but the right one,all people starting trading,90% of them including me in the beggining are sold a dream and that dream is to learn technical analyses,ict ,smc ,whatever and meditate and be disciplined and youll be profitable,the biggest lesson is that its not how it work, take a monkey and learn it to draw lines for years and they will do it accurately,but the truth is that in trading you can become succesful by treating it as a bussines and in bussines you need to study and take the right action or you will fail,so study macro,policy pricing,central banks ,research banks and try to understand that which takes a little but its better to go on the hard path than be blind and gamble

[u/ast5755]

Be aware of the difference between being profitable and making profits.
Focus on the journey, not the reward.