Hi All , I’m a newbie from the rainbow nation South Africa , trading for about 3 months . Does it make a difference if I trade in ZAR or is there an advantage using the USD?
What is a good initial investment to have in your account as I have blown my 1st account 
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Welcome to the forum, sounds like you’ve jumped in feet first, not good, my advice before you deposit anymore into an account trade a demo account, although the deposit amount will probably be way more than you would probably do in real life, if your going to blow an account at least it’s not your money and will give you an idea of trading, and on your second point it will also allow you to experiment with different currencies and pairs.
Just because you’re account is in South African Rand doesn’t mean you are limited to only trading pairs with the Rand. In fact you will be much better off focusing on the USD Major Pairs because of being able to analyse if there’s clear direction or not. What I mean by this is due to the way the major pairs are quoted AUDUSD, NZDUSD, EURUSD and GBPUSD should trade the same direction the others should go opposite direction. Then you know you have good market direction. If this is not happening it’s warning signs to stay out.
its a very nice reply with good information , thanks Mate for your nice post.
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hi,Ramdeoj
my advise is start on demo first before blowing real money acquire more info be patient and develop a strategy that’s work for you as for currency you are not limited you can trade any currency
good luck on your trading
Thank you . Forgot to mention I used a demo for about 6 weeks . What time period should I demo trade for ?
Thanks for that .
Before you invest real money wouldn’t you want to be happy you’ve tested and proven the system you plan to trade is consistently profitable with little draw down and good exponential growth.
Hence there is no one answer that is the same for everyone.
Yes it does.
You will go through an exchange rate to deposit and withdraw. That can be an advantage or a disadvantaged because it could be favourable or not each time you do so.
I would recommend to have your base currency in ZAR.
You should use a demo until you develop a strategy, could be 6 weeks, 6 months, as long as it takes, don’t rush into FX it’s a marathon not a sprint.
Welcome @Ramdeoj. Have you tried a demo account? It’s a must for newbies. So much better to practice before jumping into the live game of trading.
I would suggest your currency as base if you are trading through your domestic exchange.