I think the least amount of capital required is the amount of money which you can light on fire and laugh as it burns.
I tried it with a 100 dollar bill and put it out right after the edges got burnt, so I started with 50 and added to it every month.
why dont you focus on what your actually saying. For a TRADER to be consistently profitable he has to use a STRATEGY.
Unless you know of a different way to chose entry points and manage risk against reward. haha
it perfectly demonstrates that you are never consistently profitable as you never know whats around the corner. you only know you’ve stopped being profitable once that happens in real time.
No; for a trader to be profitable he (or she) has to use some [I]STRATEGIES[/I], plural. If the trader is judicious in his or her selection of strategies, it doesn’t matter if one of them fails; the other strategies, which haven’t failed, will take care of the losses of the failing strategy.
I agree. It’s always important to have a back up plan when you’re trading, you can never rely on the idea that the current plan would work infallibly.
Did someone say strategies was plural, perhaps not to the individual!
280 trades, 19 loses, all loses are slippage on trail stops, all less then half a pip, 52% gain, 8 days
Practice your A$$ off
We must have a good back up not use all amount in trading and not invest all amount at once in account . I ever trade with low risk to make my side safe . I invested just $100 as a newbie , It was reasonable amount to see my skill of trading . After some time I decide to invest more amount when I was able to make profits.
I chose to start with a $2,000 dollar account. As some have said on this thread I think the minimum amount is based on what you are trying to get our of trading forex. Duh MONEY :)… but what I mean is are you trying to make a living or are you trying to learn? Me I’m trying to learn and to develope a skill that I can take with me into retirement. I would like to retire in 10 years, so I am starting early and hopefully have my skills polished to retire without fear of relying on 401K balanced to get me through the so called golden years. Now before I opened this account I also studied Forex and Demo traded on and off for the past 2 years. I think if you are looking to make a million off of a 2K account your kidding yourself. Manage your risk and set realistic goals then match your capitol with those goals.
What strategy did you use?
USDX Correlation, ICT’s “S/R” methods, RSI Candles, performs Like HeikenAshi, Range Bars,
Still getting used to it all, working on letting my trades run longer. 20 pip hard stop
320 trades, 19 losses, all losses are slippage on trailstops, each less then .5 of a pip,
Here is what my scalping chart looks like. I do take longer term also before I start for the day. There is a bit of forecasting I do to get familiar with the MORNING before I woke up.
10 trading days, this is my scalping demo, still can be a bit better, had a tad of DD early. I also got my 10% today real account, but wont say anything on that one till its time too.
I am new to trading the last two years learning. When ready I see the amount to start trading like this. The number may change but the concept is the same. To treat it as a business or a car payment for those of you who can not just buy a car or put $50,000 into a trading account now. I will need $30,000, put down say 10% = $3,000, $27,000 left. Intrest is the win or loss ratio. Lets go with 5 years or 60 month to reach the goal of $50,000, a payment of 60 month or 5 years is $27,000 or $450 per month. Next is a medium range earning through trading of $350 per month through out the five years or sooner. The total in five years is $30,000 deposit and $20,000 in gains for a $50,000 trading business. Adjust the numbers to fit your own income. One thing is not to lose you down payment. After a goal of $50,000 is reached no depost is required.
You can open an account at ForexMart for $1 and start trading, but should you is a better question.
Very small accounts limit what and how you trade and are almost certain to end in a margin call
If you can’t afford a $500 starting balance then you would be better off to stick with your demo account
You could start trading with a nominal amount of $10, but the more you invest the more chances are there of your earning.
US$1,000, if you don’t have that, just do demo with the amount you intend to invest and see how that work out. That’s being nice.
The ugly part. If you don’t have US$1,000 the consider selling burger. You will have better chances there.
True, micro-accounts are generally only for exercise purposes. With an account that tiny it will take forever to grow it to an actually useful size.
It depends on your idea of what trading is. If you think is a money machine or gambling, then… sorry, you probably will lose your money, $50 or $5000. But if you take this seriously, work hard to bulid a trading system, work hard on your psychology and money management, then you must treat trading as it is: a business. Then you can start with $100, $500, $5000, $10000, it doesn’t matter. The trading is the same, you can adjust the size of your trades. If you are worried about how much money do you need, it is because you don’t know how to trade. Because you think that the initial amount of money is important. It is not (I assume you are not pretending to live from the trading benefits). Start with an amount of money you will not use, some savings you will not worry to lose if trading goes wrong. Then, forget about the money and focus on do a very good trading, with your system, your risk management, psychology, and so on. After 1-2 years, that money will increase if you do your work well. And, thanks to the compounding effect, the grow in your money will be exponential, if you trade well.
So focus on trade well, be an excellent trader, dont think about money or “how much…?”.
Very good post
I agree with some of the answers above. To start trading, as opposed to gambling, you must have a proven trading strategy and a clear objective. Your initial goal should be not to make money but to learn to trade profitably.