Hi guys,
I am a Newbie from Munich, Germany and I hope that forex trading is becoming my new hobby.
Everything sounds really weird for me the moment, but I hope I can learn quickly.
The Problems is that I am not that wealthy, so it its hard for me to spend more than 100 euro for start up. My question is: Is 100 Euro to less and not worth reading all the stuff?
I also would like to know, when it is the best time to start with a demo account. I am doing the “School” and coming to the “Elementary” level now. Is is it already time for me to create a demo account?
Thank you very much for your help.
xtab0u;)
The sooner you jump in to a demo account the better, it’s far easier to learn things by doing them. If the school is talking about Fibonacci, jump on the demo account & experiment with it - it’ll help everything sink in quicker & it’ll just click.
As for the account size, as a beginner, you would be stupid to open an account with more than €100. Start small & see how that feels, you can always add more at a later date. There will be a lot of time & effort that will need to go in to learning to trade so although €100 is a good starting point, you’ll eventually need to put more mom£y in (potentially a considerable amount) to make it a worthwhile pursuit. It all depends on your goals eg. is it to earn enough to do it full-time or is it just to earn enough to make it better than it sitting earning interest in the bank?