How much money should i start with?

Google for No deposit bonus brokers, there are a few who offer free live accounts with some small money like $50-$200 to start with. Start from there.

I am into managed account services since I started using the DDSM model I have maintain a constant rise in my lot sizes and see my trades making about 85% to 90% monthly return since five months now how do you hope to help me?are you a broker or somewhat?

I’d say 1500

Cent accounts can be a good start because you can learn proper money management. It’s hard to trade on a standard account with only $50-$100. Because only a few bad calls can wipe out your entire account. But like already mentioned, free bonus accounts can be helpful

hello mr nice,
It was a nice question. It may be the same amount of money with which you started your demo practice. If you practiced demo with huge amount please try with less again. It is very difficult to sustain with less money if you did not practice early. Good luck.

in demo we had a lot of amount which is risky to use in real account . I will suggest to start real trading with low amount and use micro accounts for this purpose . Here your pips will be traded in cents . You will get better practice of real trading . With high amount at once real trading is dangerous because traders mostly make losses in start.

Rule No 1 - Never invest the money which you cant afford to lose

Rule no 2 - Only invest the money which you can afford to put in risk

Rule no 3 - Have a realistic profit expectation and you will survive longer in this market

I’m starting with 0, with DEMO :smiley: actually I have a couple of Demos and I am practicing on them, when my real-job allows me to…But I thinks one learns a lot trading Demo and you gain valuable experience… Now, when you go LIVE you invest depending on your budget… but I would rather put more money and use lower leverage, then the other way around… :28:

Start with the money you can afford to lose!

If you are a beginner in Forex trading, your account risk should be as small as possible. The main reason is because beginners do not have enough statistics on their system or trading method to optimize their account risk per trade. You don’t know how often you lose, how big your drawdowns are, your longest losing streaks, etc.After you have gathered enough information about your trading (a year’s worth of trading), then you can begin to adjust your account risk per trade to your risk comfort level. good luck!:wink:

I would suggest $200 or so, with a cent account. Always go with a nano account or micro to start off with…good luck.

as much as you could afford to flush down the toilet without missing it

…
i noticed people tend to take what i say the wrong way but i mean just what i say, i dont mean forex is just throwing away your money. I mean you shouldnt put in more than you can afford to lose, EVER, especially be wary of the gambling disease … the ‘just once more and my luck will turn’. Luck is part of it since its a job of chance but there’s a little more to it than flipping coins or rolling dice. If you can spare $200, do $200, if you can easily spare $2000, then do $2000, i mean [B]easily[/B] spare, not just oh, ill cut my savings in half or something since chances are you will burn out at least one account at least one time. Theres no true statistics on that since people dont always tell the truth on their performance.
Chance is high you will at least fall once for the ‘i have to win this’, its not about winning. Its about calculation, risk management and keeping an eye on the world and then theres kneejerk like last years july on the dollar with the tapering or the emerging market ‘crisis’ , things no one sees coming that make a serious dent in the chart, mostly the wrong way lol
what you can afford to lose without it having an impact on your life. Theres no set amount. The more you put in the more you can make with less risk, it correllates somewhat since you can put in higher lots and set your stoploss (if you use those frequently) a bit wider.
You can start with $1 on a nano account, you should definitely do some nano or demo first although a demo does not react like a live account would (its after all there to lure you, the spreads will be different for instance and you get more slack than you would on a live account)
If you dont have a lot you could start with $200 and deposit extra whatever you made last month or something, if you’re one of the happy few over time you will get to a point where you will no longer deposit since what you make on forex will outweight what you have to deposit.
Think about it, dont put in what you cant miss, its different for everyone, and if you have a dayjob dont quit it on two winning trades
good luck :slight_smile:

and keep it that way!!! :d

We do not need to invest big amount in forex trading.We can start trading with small amount. And i also try to maximize small amount. Started trading with $10. There is leverage which can be maximized.

Start with like $250 or whatever the minimum your broker allows. (Ofcourse start with demo money first, and do whatever you want there).

$250 gives you a taste of real money though without being too painful if you lose. Then build it up to 1k, 10k~ Whatever returns your looking for with your system.

As far as the matter of investment is concerned, the more its better as then you can manage your trades very well.

the simple answer is set a monthly limit (preferably small like 100USD)
if you are good in a month your 100USD will be many many USD, then you take out half and carry on
if you are bad, treat it as a learning experience and top it back up to 100 every month

or at least that’s how I started trading, main point is have a budget
if you go broke replenish it back to its original value
if you make a profit, take out half the profit and play with the rest

The best option is to start with micro lot and small account for a training. Now I trade using mini lots and I follow Growthaces suggested position sizes and it works pretty well.

You’re not really limited…

You can choose between demo, cent and standard accounts.
Start with a demo, then move on cent accounts and if you get confident and know what you’re doing usually you’ll have to move standard because of cent account limitations most of the time.

My advice, as a professional trader and programmer, start with a good basis - knowledge based on real results of others, advice coming from real experience because almost everyone is losing on forex, it has become like a casino after retail traders were able to participate in transactions. Listen to people who get results or you’ll lose money.

Read the book [B]MONEY - Master the Game from tony Robbins[/B]. If you think you will practice and become good at trading you’re telling lies to yourself. You should know what you’re practicing. Why you sell or buy, you can’t guess market’s direction based on past behavior, it’s impossible, focus on fundamentals instead and trade one which you’re passionate about: interest rates, macroeconomics, particular country’s economy, particular commodity and so on…

Technical analysis doesn’t consistently work on it’s own. I KNOW what I am talking about …and all these people here lose money, I don’t. I wrote many robots based on SYSTEMS… They never make money consistently even tho robots are very disciplined. Forget everything, become an expert in a particular subject and monetize on your knowledge. If you do there are ways (at least one) you can make tons of real money by trading on a demo account, but if you’re not good at what you do you’ll waste your time whether it’s a demo, cent or standard account.

I trade both manually and with robots I write, but all these robots are mostly based on fundamental and not on technical trade logic and I show my track record as well.

Finally I’d like to tell you one thing I heard once from my mentor: Advice is the cheapest commodity in the world!

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technical analysis works if you know what you are doing

the problem is that trading news events (what he calls fundamentals…) is less mentally taxing and requires much less effort

from that ive seen new events are not really indicative of anything on the long term trends, anything above the 5 minute price blip that happens during news is dominated by technical analysis and even news events end up looking paltry in potential profit size when compared to what you can gain by accurately and consistently predicting the market via technicals

see maryo cairo’s thread for the other end of the spectrum, 150 pages worth of documented winning trades via technical