If I talk about my very first investment than I think I will have to visit 8 years back, it was between 70-80 USD, it’s incredibly hard to remember exact figures. It was awesome start for me, as within no time, I had doubled my capital. I remember it very well that I had NO STRATEGY. In fact, I had no clue why the certain movement was in certain way. All I did was to add on position after position as long as I don’t see profit; it was actually Martingale strategy which at that time I had no idea about. It worked nicely but soon the luck ran out and I suffered. Now years later, I am much better and trade in genuine way.
You was really lucky) And what strategy do you use now? And what do you think about Martingale strategy now? Too risky?
Martingale is a good trading strategy only in the case when you’ve got an endless deposit, or if you’re very lucky. If you haven’t got either, it’s a very high risk strategy. It’s dangerous because at first everything seems to be working, and you started believing that it will always be that way, but at a certain moment your entrie deposit burns out. You’ll say that’s not possible? It is, that’s how I lossed my account once.
Forex is a big opportunity to any trader. Anyone can involve with this market in order to earning. A trader can start Forex with a very small capital through big capital is helpful for big earning. But when I was new I started Forex with a very small capital like only 100 dollar. But I was so much experienced about trading that’s why within a very short time I earned more money within this capital.
I started with 1000 USD but that is not important with how much to start. The important thing is to start real trading when you got a system. By system I mean a profitable system then you can multiply your forex earnings many times.
I wanted to start with $100. But im a very newbie and people advise me not to risk and to try cent account at first and deposit about $10. Maybe its a wise idea, how do you think?
I started with different brokers with different sums, my smallest sum was 10 dollars. I don’t advise using Martingale at all, you need endless savings for that and sooner or later you could end up losing your money.
Yeah, and the second limitation is lot size, most of the brokers will cap lot size at 30 or 40 lots, maybe more, but certainly not for indefinite size.
I am new and I don’t have any idea regarding. please someone suggest how much should Invest initially.
started with 250$ but if your planning to go with 1000$ is
way more better because lesser the amount greater is the
risk in market.And if you have already practiced
well in demo then without doubt you can start off with that
amount but must remember to have a well managed
strategy.
My recommendation:
- Study and come up with strategy. Better if you have some experts teach you.
- Test with demo account.
- Start with 1000 USD.
- Then increase to 10000USD after 1 year trading.
I love this plan. I wish it was as easy to achieve that in reality as it sounds in theory.
How much profit did you make in three months from the $100 account!
Same experience here! I also lost my 1st live trading account because of my greed! Then I started again demo trading! In addition, my 1st live trading capital was also 500$.
I would like to start this business with $50k as it is perfect initial amount, I will get the maximum knowledge and skills about this business and will start with only $50k and I believe that I will achieve my profit target with this investment.
Started my 1st live account with $1500 and $1000 the 2nd time.
It took me 3 weeks to blow the 1st and 5 weeks to blow the 2nd.
Trading forex is one of the most difficult and most amazing thing to do. Though due to advancement of trading and injection of huge numbers of brokers in the market it is quite easy to trade or enter the market with a low amount of capital like $10. But i always prefer trading with atleast $500. I entered the market with capital of $30 from which i make money from this market regularly. To be honest, Forex is the only thing i do to make my living.
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30$ is really challenging trading capital! What is your current trading equity? In addition, how much do you target as your monthly return?
30$ could be just enough for rolling when the trend starts for someone like Mr. Watanabe type trader. Double up and keep trading to reach 1000$ on one day could be not a dream with the exponential way. Just see how people would keep the extra another 30 bucks after the first double up of the money. So, the same amount is kept for the trader for the gambling next time.
You said, you are going to invest 1000 bucks, but you did not mention that you trust your broker who can guarantee safety of your funds. I would like to suggest you at least try their demo account before proceeding with real money. If I were you I go with little amount.