Bankroll question

[gennariello]

Hi guys a quick question, I got interested in forex so I started reading this site, I have one question I came across at the beginning of the school.
I read at least twice that starting an account with 2k is not a great idea

so could you give me a rough idea of how much of a bankroll one would need to start with this business? I know there probably is not a fixed rule but if someone can give me an idea it would be nice!

[gasanvill]

Its not a goog idea to start a STANDARD account with 2K. But 2K is okay for a mini account, even 1K is fine..

[gennariello]

i see, well i'll keep reading then
thanks

[ECN-scalper]

If you can start out on a standard account,
start out on standard account. There is a
slew of miseducation going on in FX 101
education arena. If your money management
skill suck, it will suck at whatever account you
have. Comparing a mini with standard, risking
same percentage on your trade, you are
much better off and equity safer trading
with a standard account. Assuming that
you don't go over 5% total, never more than
2% per trade, and no more than 2 trades
going on concurrently always; Standard acct 1:100
is the safest way to go. Do the calculations.

[gasanvill]

Originally Posted by ECN-scalper

If you can start out on a standard account,
start out on standard account. There is a
slew of miseducation going on in FX 101
education arena. If your money management
skill suck, it will suck at whatever account you
have. Comparing a mini with standard, risking
same percentage on your trade, you are
much better off and equity safer trading
with a standard account. Assuming that
you don't go over 5% total, never more than
2% per trade, and no more than 2 trades
going on concurrently always; Standard acct 1:100
is the safest way to go. Do the calculations.

The problem is that if you open a standar accountl, some brokers wont let you trade mini lots. So if you open it with low capital, you wont be able to risk only 2% of your account..

[4xStar]

Originally Posted by gennariello

so could you give me a rough idea of how much of a bankroll one would need to start with this business? I know there probably is not a fixed rule but if someone can give me an idea it would be nice!

If you are starting with real money, AFTER trading a demo account successfully for at least 3 months .. then I suggest, if you have $2k, open a MICRO account. That is like opeining a mini account with $20k or a standard account with $200k.

It won't be exciting at first, because you will be making a thrilling $10 on a 100 pip move
.. but on the other hand, if you lose, you won't lose that much!

A $2k micro account can be parlayed into a $1 million standard account within 2 years .. do you have the patience to start small???

[pablopluto]

200k for a standard account is way to high. Around 10-50K is small enough for a standard. 200K is over kill. if you are confident in yourself and your system you dont have to have that much giveway.

[decoir]

Would it be a good idea perhaps to start with any small amount of money, even a few $100, just to get a feel for live trading - in terms of the behaviour of both the broker and yourself.

And then if you can be profitable with that small amount of money then add all the rest you had waiting?
You could do that in stages, I guess, adding another big amount if you can still be profitable with $1000, say.

[pablopluto]

Start with $100 it will help you with the psycology aspect. if you blow up it will be the best lesson and you dont have to worry its a small amount

[pablopluto]

Originally Posted by pablopluto

200k for a standard account is way to high. Around 10-50K is small enough for a standard. 200K is over kill. if you are confident in yourself and your system you dont have to have that much giveway.

misquote 100K-50k sorry if I threw some people