The fact that you asked this question means that you should leave money out of it for now…Demo account is your future.
The people who trade with real money…They don’t ask this question. Reason for this? RISK ASSESSMENT.
It’s not about the pips…It is about the value of the pip
It’s not about the loss…A gunner with a massive account can outlast most losses and break even or even show a profit on a long time frame.
It’s about your set goals.
…If you don’t understand this, then this whole conversation is pointless.
First and foremost you must familiarize your
self with the daily changing economic activities of the different countries especially that of the higher economies and also watch out for their daily political developments as this could alter economic projections.
That said know when to trade, when the coast is clear and be watchful of events.
With in depth knowledge I would say not more than 5000 USD would be fine. Use leverage cautiously.
The tradings are actually done sometimes before the datas are released.
For seniors, like myself, it’s possible to trade full-time with about $2000. I can count on social security for $18,000.00 per year plus I work as a hotel houseman on weekends (Fri., Sat., Sun.) for about 15 hours labor a week so I’m virtually trading full-time.The work is a welcome relief from trading.The lifestyle is minimalist. Other people such as wives, live-in girlfriends, children and pets get in the way of traders so I don’t have any of these .I took an online price-action trading course several years ago and am comfortable in the trading lifestyle. I have other interests such as physical fitness (calisthenics), Russian language study (8 years) and watching Russian and classic movies online. Travel doesn’t interest me at this age (77) since I’ve seen a whole lot of Asia and traveled to Europe. So there’s no siren call of exotic places anymore. I don’t trade frequently, only when conditions tip the odds heavily in my favor. I only trade 4 pairs of the majors and stay strictly away from exotics. I trade the daily charts–no day trading. This is the monastic life I’ve chosen and I can’t think of a better way to spend a life.The learning never ends.
Depend on your style, e.g. how much is your monthly spending?
If you are an experienced trader(consistently profitable), by 250K Euro a basic lifestyle; to 2Million Euro a nice lifestyle can live on. This is my opinion.
Depends on how much you need to earn every month for your expenses, and your skill/experience level. If you need to make $1K a month and do 10% a month then you’ll need $10K capital. If you’ve been trading for a while, get your account signed up on fxblue or myfxbook and take a good look at your stats to get some probabilitistic expectation of what your performance might be.
If you can do better than that you’ll need much less capital. I’ve had a great streak of luck lately on an account I started exactly one month ago. I made $4,750 on $3,000 capital. Best performance of my 2 year forex journey. This kind of performance is probably not going to be sustainable every month, but we’ll see. Something to think about. Gilas Trading Journal
I am still amazed after all of this time when I see these monthly percentage gains of +10% being bandied about. Oh it happens. One month. Maybe the next. And all of a sudden the poster goes very quiet. And there’s quite a few around here. Let’s see how long they last. Reality check: how much do you think the likes of Goldman Sachs would pay a trader (just in monthly salary i.e. forget about bonuses and perks) that could consistently and on a monthly basis make +10%??? Even if such a person existed: you can be sure they’d not be ars*ing around on BabyPips (no offense). So think about this before giving up your day job.
Something else that’s not been addressed here (at least not adequately) (in my humble opinion of course but nevertheless based on personal experience): it’s one thing trading to make some extra money (or for the fun of it or whatever your poison or reasons). It’s a whole other scenario when it’s your only source of income. As month end comes closer and there are bills to pay the urgency of having to make money to meet those commitments can become overwhelming especially if you’ve lost some money that month or have just simply not made enough to cover the looming month end bills. It will make you do things that maybe you would not ordinarily do (assuming of course that you’ve somehow already become a disciplined trader by this time of course). End result more often than not: the hole gets deeper and deeper. Now you start drawing on capital. No problem. Except that now you have less capital, and therefore need to make a higher percentage the next month, just to be able to bolster your capital as well as meet those month end bills for that month. And so on and so forth. Get the picture??? And of course: it goes without saying that if for some or the other reason you actually have to draw on your capital well then you can forget about this convoluted straight line compounding calculation that everyone loves doing. Always great on paper. The reality is totally different.
One thing that did stand out for me on this thread is that somebody said that it’s a boring and lonely existence. It is. And it should be. I’ve seen so many threads recently (since starting to post here again after a few years) where the love affair with this business is obvious and evident and it is romanticized. Forget it. Forget about the bright lights and success stories and all the other nonsense you’ve seen and read about this business. It exists only in the movies and in your imagination. It is risky, cut throat, and it will feed you your heart when you least expect it. See it and treat it for what it is i.e. a means to an end. Nothing more and nothing less. Nobody and nothing is on your side. You broker doesn’t give two hoots about you. And the market (whichever market) doesn’t know you nor care less about you. It does what it does. Day in and day out. With or without you. And don’t get excited when you make money: you will then be at your most vulnerable. Ask me how I know (all of this)!!! And this coming from somebody who is actually able to make money out of this business (after, what, 14 years, let’s say 10 years or so to be fair given that there’s been a few breaks in between).
An obvious question is why am I here (again) and prepared to help (and for that matter even bothering to post). Pretty simple: it’s a lonely and boring existence so these forums currently serve the purpose of keeping me occupied during the trading day (I only spend about a half hour just before the close of the US markets placing orders etc. and sadly nothing better to do in the day currently), by posting I’m keeping myself in check (my problem is not making money it’s holding onto what I’ve made after months of hard work), and (for better or for worse) I’m currently in a situation where I don’t have a choice but to trade to make ends meet for a few months (difference being is that I’ve done it before, am certainly not new to this, see it for what it is, and no longer have unrealistic expectations).
I hope I’ve not ruined too much fun. Maybe I’ve gone too far the other way in my comments and notes above. Maybe I’ve become jaded over the years (although this being said I know I want to absolutely cringe when I read some of my posts from years ago which I ended up doing yesterday for fun). Dunno. I’m just not seeing too many balanced posts or threads around these parts. So maybe the truth and reality lies somewhere between what I’ve posted and noted above and all of these overwhelmingly positive threads and posts with unrealistic expectations and filled with unrealistic dreams and hope.
But I will say this: I wish you the best in your trading (whoever is reading this and whoever you may be). It is indeed possible to make money in this business (and I mean consistently i.e. not just a few one hit wonder trades now and then). And actually: it’s not that difficult either (at least not once you strip away all of the nonsense factors that I’ve attempted to describe above). I sincerely wish you well. And with hindsight: it’s not necessary to lose the farm to eventually be able to make some money in this business. Or is it… Guess I’ll never know (for myself i.e. been there and done that in spectacular fashion).
Excellent post, Dale. Well I, for one, fully agree with what you say.
I have often written along the same lines. There is a world of difference between trading alongside a normal job and trying to live from trading alone full-time.
When there is a budget to be met in order to survive there is exceptional pressure for results, which inevitably ends up in taking excess risk with positions and, even worse, taking profits early just to get the money in the bank.
In the longer term this will probably result in bad periods - which creates a downward spiral of more pressure and more failure - more failure and more pressure.
Also, being a full time trader brings other problems if one has, or wants, a family and dreams of a good standard of living. Trading is only as good as the last trade, we do not know what comes next. Markets change, legislation changes, our health changes and our motivation, too!
But even more than that. Does money really provide that sense of satisfaction with one’s life? OK, one can earn it and invest it, etc. But there surely comes a time when one reflects on what one has achieved and then something solid like a career or own business, etc will present much more satisfaction than just trading.
So if one wants to trade for a living, think now where you want to be in 20 years time, or whatever, and make your plan. But your plan should also include where you will be if your trading career ends up on the rocks (and,statistically, the probability is very high that it will do). If you have a career or a trade of some kind then you can probably fall back on that or at least build on it. But if your CV only shows “failed retail forex trader” then that will probably be interpreted as “gambler” and is not likely to open too many doors for you.
Trade alongside some form of regular work and if that forces you to trade longer TFs then that is probably going to end up an advantage for you anyway! Build your capital along the way and then, one day, maybe early retirement and a wealth of trading experience just might make you a happy full-time trader instead of a frowning, frustrated dropout, blaming the rest of the world for what went wrong with your trading account.
Just some personal observations from the side of the road……
Your post is even better than mine and you make some very good points. But thanks for the compliment nevertheless.
You’ve touched on something that even I’d forgotten about until reading your post. Family. My experience: you’re not remembered for your profits. That money gets enjoyed and spent quickly by all and sundry. But boy oh boy: you will be reminded of your losses at every opportunity. And it can affect a person rather badly. Loads of things come into play psychologically. Things which are usually never discussed openly.
And you mention a person’s CV. Also something to consider. So a person leaves work to trade for a living, things don’t work out as planned, and now you have to go back into the job market. Not sure about anywhere else but I can tell you that over here that gap in your employment history raises many eyebrows. It’s pretty easy to move from one job to another. It’s not that easy to move from no job to full employment again.
And not many people discuss losses. They’re mentioned. But for some reason or the other the reality doesn’t seem to come through. Somewhere I have a table which I will try to find and upload (I think I know where is is). Basically it details just how much you have make just to get your capital back to the level it was before your taking a certain percentage of losses on your account. It’s frightening. But it’s real. Starting out with a clean slate and making a few percent each month no problem assuming no losses along the way. But when you start factoring in a few losses during that same month then all of a sudden that requirement of a few percent suddenly becomes a huge and that just to get back to break even on your capital i.e before you’ve even made an overall profit for that month.
Anyway. I suppose we could go on dispensing negative advice and detailing the pitfalls. But I don’t think that’s the purpose of these posts. Just think of them as reality checks and some good sound advice that you will at least consider and which will enable you make an informed decision is all. There are many other things to consider besides trading systems and margin and leverage and brokers (and the rest of the stuff that we all tend to get bogged down with).
On the bright and positive side: it can be done. Just maybe not on the glamorous and grandiose scale and with the ease that some posts, forums, and websites (and Hollywood) would have you believe. It’s great to be positive and full of hope. But it is equally important to be realistic and to be well informed. Balance that lot out and I reckon you’re good to go!!!
Okay, dont listen to this post without a grain of salt. This is an extremely negative outlook on trading. Trading isnt nearly as impossible as this person makes it out to be. Minimum IMO would be 20,000 and thats only if you have a monthly goal of 1,000-1,500. If someone tells you to not trade as a job, who knows why they are here but do your own thing.
I do agree with you that, at first glance, it does come over a bit negative, but I think the points made are valid if someone is seriously considering trading as a full-time profession. It goes hand in hand with another accurate comment above that:
But let’s look a little closer at those comments:
I think most people would agree with this. It does require certain characteristics such as constrained courage and an almost perverse persistence in the early stages, which many people do not possess nor wish to. The private retail trader is a different animal to someone working as a trader in an investment instuitution. But this is not negative, in fact I personally find it rather stimulating!
Certainly, forex is not the right answer if one is simply trying to escape negative circumstances or to earn money. It requires dedication and a deep passion for the business in its own right. To try trading simply to resolve financial problems or with a dream of a maserati next week is an insult to those that trade professionally and responsibly. Remember, we are talking specifically about a full-time trading career here not just “retail trading”.
Any other approach is equivalent to betting on horses or dogs or in a casino. Sure, you may win, you may even win big - but that is not the same thing as a career.
This is not negative, it is simply fact. Now that ESMA requires brokers under its jurisdiction to publish their client failure rate, we see that something like 80% of traders lose their money. But I would suspect a large percentage of this 80% did start trading with a hope of becoming full-time forex traders. It is also true that trading because you HAVE TO earn a minimum sum per month to survive is very different than just setting a goal as a metric for your trading progess alongside another job or business. But that is not saying that it is impossible - just very different and with a different set of challenges.
Hmmm, maybe this does sound a bit neggy, but I do agree! But perhaps I would say “isolated” or “alone” rather than “lonely”.
I don’t talk about my trading to others outside my direct family and small circle of friends. Firstly, they do not understand it, secondly they tend to go all glassy eyed and blank looking, thirdly they immediately start to worry about it! There is also the risk that if you are visibly successful then people are jealous and immediately silently accuse you of being a tax-evader and consider reporting you to the tax authorities - but if you appear normal or poor then you are a failed gambler who is probably a secret alcoholic, too and maybe should be reported to the welfare as a bad influence on your kids! Only joking, but anyway……….
Also “boring” is rather a negative word, I would perhaps say “tedious”, “repetitve” and “routine”. But to be consistent in profit-making (which one HAS to be if one is to be a long-term professional full-time trader) then one has to have an overall strategy, a strict discipline and clear risk/money management parameters. One has to also be capable of recognising changing circumstances and adapt with them. This all has to be administered with a huge amount of patience and positive expectation.
These two issues can for some people mean “boring and lonely”.
But there is nothing wrong with bouyant enthusiasm and a strong drive if full-time trading is what someone wants. But it is not just about the money. Trading is a highly-skilled profession and is just as demanding as any other highly rewarding profession. It demands training, practice, experience and a huge amount of personal pride and commitment in what one is doing.
The 80% failure rate should be sufficient warning that successful trading is about far more than just the size of your wallet……… but if this were not the case then a lifetime of screen-watching would surely be a very blinkered and narrow existence? OK for some, maybe.
But the caveat here is that I am only talking here about the bigger picture for those with long term career ambitions. Trading for today and with money you can afford to lose is an exciting and rewarding occupation in many ways……and who knows where it may lead to (but you will know that when you get there)
This is really long sorry but if you read it, hopefully it gets an interesting idea out for trading
Don’t get me wrong, I don’t neccesarily disagree with any of these points. But to kind of explain my own reasoning for my last comment, I’ll break apart each statement as well to give my general idea of why I believe its a bit too negative IMO.
Although, by itself, this statement is very true, some things just arent for everybody; that doesn’t mean its as innocent with the context given. The OP asked a question specifically about trading for a living and he responded with saying “its not for everyone”. Lets use another example of this happening outside of trading:
A person goes up to a basketball coach and says, “I would like to become a proffessional basketball player. What exactly must I do in order to qualify for such a position?”
The coach then responds with, “Basketball professionally just isnt for everybody”
Clearly this statement is true, again, somethings just aren’t for everyone. Yet, he very obviously is implying that the person who asked the question is a person who just isnt cut out for being a basketball professional, and there by, shouldn’t bother. IMO, that is a very negative and pretty rude way to go about really anything. In this world, information is very powerful. Assuming ones capabilities based off of your first impression of them is clearly looked down upon on society. Hell, thats why there is so many underdog stories. Because people believe in the idea of someone who seems to be a failure come out on top at the end.
Although you are right that wanting to become a trader for the wrong reasons is possible, are these reasons really all that bad? Or more so…uncommon? People day in and day out stress and groan over their awful dayjobs. And the second they find out they could learn a trade that grants them just as much money or more and even more freedom, you want them to not be curious on that idea?
Listen, the world works because of money. Our goal in life is to find the best balance between work and fun. If we can find a career that grants us a lot of money to fulfill our needs and wants AND allows us time and energy to have “fun”, why would that be a bad thing to shoot for?
Why are you wanting to be a trader? because you like looking at candles move up and down? I doubt it. Because you like reading NFP reports? Contextually unlikely. It’s probably because you’re in love with the economic puzzle that it is apart of and how it ties every country together in such a wonderfully complicated knot of chaos and numbers. AND because it can make you a good amount of money too.
This is a statement I HATE the most. This fact is very misleading. It’s fair for both of us to agree that joe shmoe walking down the street isnt a trader yes? That any random guy on the sidewalk is not a trader correct? It’s fair to assume that we both agree that anyone who has used Robinhood once or twice is not a trader yea? Hopefully thats the case, because that makes this next point a little easier. that statistic includes those people. You dont have to be a trader to open a brokerage account. Anyone can. Therefor…yea…of course a lot of people lose. They have no idea what they are doing.
Just like if you put a random person in a hospital, they wont know how to be a doctor. Yea, 99% of them would fail…they arent doctors!
These statistics need to include traders only. people who know what they are actually doing. And how many traders who actually know what they are doing fail? well we dont really know! Because brokerages have no idea who knows how to trade or not. Therefore this statistic is very misleading and shouldn’t be passed around IMO. And hence…its a negative way to look at a problem that isn’t actually there.
This one is pretty annoying too. Listen, just because people have coworkers doesn’t make them happy. If it did, people wouldn’t hate their jobs. So this silly idea that oh full-time trading is impossible because its lonely is insulting. And within the context of the conversation, its a pretty negative thing to bring up as to why trading full-time is a bad idea.
You dont HAVE to be lonely!
You can meet people in trading circles or go out to marketing dinners to get connections. You can get your friends to work towards becoming a trader with you to make it interesting. You can even work at an office with other traders who all trade retail. Hell, trading doesn’t take up 8 hours like your normal job did so you can go outside and go do stuff anyway! Trading is boring? Trading is lonely? Lol okay? What for the 2 hours that your doing it? Please, go be with your family, your wife, your girlfriend, your kids, your boyfriend, your normal friends. Go play some games, some sports, watch a movie, take a trip. You have all day to do anything and when you’re full-time you should be financially healthy too so hell money shouldn’t be an issue.
This idea that you have to be in your dark office for 12 hours a day staring at charts by lonesome is ridiculous. That doesn’t have to be your life. The whole point of trading is to be more flexible, to give yourself room to do other things! You have the time to go do those things now so go do them! most days you should be happily spending your time where it matters and where you are enjoying life the most… stop staring at your trades…they’ll move without you.
This way, even if your trades are moving in the red. At least you’re out living your life the way you should be.
Exchanging is a certain something and exchanging professionally is something else. Since you are as yet another merchant, guarantee you center around acclimating with the market and figuring out how things work. Begin with demo, at that point go into a small scale before going live.
Thank you for taking so much time to contribute in detail and with a lot of thought-provoking input.
Firstly, let me emphasise that you are attributing quotes to me and this is inaccurate. I was commenting on those quotes that were originally from another poster here. I never said one has to be “lonely” or live in a dark cupboard. I just said I don’t talk about my trading with others outside the business because it doesn’t mean anything to them.
This is exactly what I was trying to say! I fully agree with you! It is NOT about just escaping from a boring job or a dream of wealth. It is a fabulous world that brings one in touch with issues and subjects acrossthe entire globe. There is no limit to the diversity of interest that can and does relate to trading currencies, indexs and commodities.
But trading these as a living, as a source of income, is a very different thing to trading for capital gain and even just for pleasure. There are many different factors that start to arise when one talks of a career in trading and the writings here from various people are only broadening the scope to create awareness of the challenges that one can and probably will face as the years pass.
Although, in practice, it is not going to be an issue of years because if one fails at it then failure will come very soon - and if one survives full-time for the first couple of years then one is at that point totally capable of assessing one’s own future!
But when one is ready to assess whether one is right for a career in trading then one will also know that the size of your wallet is not the main issue, it is only an entrance ticket
Of course they can and should look at alternatives - but are you going to suggest that give up their awful dayjob and start trading instead with the hope of becoming good enough to succeed? We are not saying “don’t” we are saying stick with your current job until you know you have the prerequisites of education, training and experience, as well as the capital, to be able to assess the probability of success. Kinda like taking evening classes alongside a job to learn a new profession.
Trading full-time is a major decision and it is good that one learns all the potential risks as well as rewards in order to make the right decision. Better with eyes wide open than eyes wide shut, don’t you think?
Exactly!!! and the size of their wallet doesn’t change that - they just have further to fall until they do know what they are doing - and learning to know what one is doing first, before going out on the “career” bit, does not need much capital at all…
I think, @Zhadow45 we are coming at this from the same perspective only you think I am looking at the glass half empty rather than half full. You are probably right in that assessment, I am very risk averse (and that is why, in my opinion, I am still here). I prefer to groan over the trades that I missed along the way rather than the ones that would have lost me money through negligence and näivity.
It is good that you provide a positive picture. I also would only ever encourage people to develop their trading and find success. It is a lifetime activity that one never gets tired of. There is always something new and always new things to learn.
But as a career, I always remind myself that “there are old traders and there are bold traders, but there are few old, bold traders” (but, yes, there are some! There always is……. )
Thanks again for your sincere and valuable input!
.
Yeh. When I read these posts first thing this morning I wanted to say “Hey: you’re picking on the wrong poster. @anon46773462 wasn’t the one being negative i.e. it was me”!!! LOL!!!
But yes: some really great posts overnight.
Like I said earlier: I’ve painted a really gloomy picture no doubt. Others have now come along and diluted such gloomy picture. And that, to me anyway, has created BALANCE which really was my point all along. Put another way: there are things here now that have been addressed and discussed which you really don’t usually find being addressed and discussed. Most threads and posts bang on about risk management and technical analysis and how much money you can make etc. etc. etc. There’s simply much more to it than that. And while this thread has gone off topic: I believe it contains some sound advice and food for thought. And if after reading all of this somebody still wants to give up their day job and security and start trading for a living: I sincerely wish them well. If nothing else I’d like to think that these posts from everyone have at least given them some deeper insight thus enabling them to make a more informed decision.
The above all being said: I’m in no way retracting my steps here. My experience in this business for the first five or more years was painful to say the least. I’m talking about losing upper six figures of savings, three luxury cars, a family home that was fully paid for, my family, and some other people’s money. I know what pressure is. Believe me. And I nearly ended up, quite literally, on the street. And that is all for real. It is a real world example coming from a real person that is sitting here typing this to you today i.e. not something abstract or just some words on a page. And my point really is that over those years: my posts and advice given and taken and my dreams and aspirations were absolutely no different to the stuff that makes up more than half of the new posts around here on various threads today. I also had stars in my eyes for a good few years. And I’m not a stupid person by any means. Nor am I a gambler (something that frankly I absolutely loathe and despise with a passion). But true to form: over those years I was able to make just enough money in sporadic bursts and make just enough money to be able to build up a track record for a few months to lull me (and others) into thinking that I’d finally cracked it. Next thing: over confidence and, well, the rest if history (in fairness though the credit crisis didn’t exactly help matters). Rinse and repeat. Over and over. And I was totally in love with this business i.e. with every nuance. I couldn’t get enough of it. I couldn’t get enough information about it. So passion wasn’t the problem. But passion wasn’t enough (I’ve read more than one post about this of late). Commitment wasn’t the problem either i.e. I lived, ate, and slept this business. At the end of the day and with hindsight: the only joy I got from it was the time I spent on these very forums having discussions with the likes of you (the forum members). Oh I learned a lot at the time. Learned even more when I started working for a broker. For all of that knowledge I’m eternally grateful. But just how much of all of that I learned back then has enabled me to trade profitably (albeit that the profit overall is still not what it should be i.e. even now still have one or two demons that rear their ugly heads from time to time) for the last five or so years off and on and on a part time basis is highly debatable.
In closing and just to set the record straight: somebody mentioned that they’re not sure re: my motives for being around here (again). In short and without going into the gory details: I’ve rather suddenly ended up in a position where I am left with no choice but to trade to make ends meet for the next two or three months (and believe me when I say I have no other choices i.e. it’s not been for want of trying on my part). So this should be interesting i.e. no longer am I trading simply to make some extra cash to buy musical equipment or pay for a good night out. This is now a question of survival for the next few months. Am I nervous??? Yes I am. But at least I know that I am (now) capable of making some money in this business (a four to five year track record is good enough for me) just as long as I don’t let the pressure get to me and just as long as I don’t get ahead of myself (these are, again, probably more notes to self than anything else). As to why I’m posting again: ironically (in the context of this thread) it goes a long way toward alleviating the boredom, loneliness, and isolation. And, well, old habits die hard I guess i.e. I suppose if I can help somebody else to not make the same mistakes I’ve made well then it’s all good and I’ve accomplished something worthwhile. And as much as I have berated this business I really do still enjoy talking about it and discussing the various aspects of it. I must say: it does kinda feel like coming home to be honest. I guess in spite of my posts to the contrary: it does still excite and enthuse (I just think the key here is to not let either get out of hand).
So that’s it. Probably a lot more than you wanted to or needed to know. But there you have the low down.
Once again: really happy about the direction this thread has taken and the posts (even although it’s gone off topic to a rather large degree).
Yes I am actually very aware! However I simply quoted his points through your quotes, so therefore it put your name there instead. I was simply giving my thoughts of his original comment and not your rendition of it.
Therefore, a lot of the things he stated had no context which my points were based off of. Where as your points had a lot of context and hence, I had no problem with.
Of course not. But the original question in the article had nothing to do with that. He never asked if he should quit him normal job, nor did I say he should. Actually, unless you understand and are ready to be a fulltime trader, you cant quit your job. Again, you cant just quit your job and become a doctor…you have to learn how to be a doctor first. However, the commentators perspective didnt bring this to question. He simply states that job or not, its a bad idea to be fulltime and I of course disagree.
No not at all! I was simply saying the other commentor I responded to was looking at things half empty. I totally understand where you were coming from but I just wanted to give more detail on what my response meant so there wasn’t any misunderstanding. Nonetheless I really loved the dialog and have had a great time looking into someone elses perspective!
Nothing to add other than the below (another great, and BALANCING, post by the way):
Believe it or not: that contributed to my less than stellar performance i.e. I’ve always been the kind of person that sees the glass as half full which, in my case, translated to unrealistic expectations and throwing all caution and reality to the wind. Maybe seeing the level in the glass for what it is is what I’ve been trying to get to all along on this thread.
I think that no less than few thousands if not more. You will have some losses along the way and that’s it. Definitely much more than initial min deposit for those. And please be sure to verify if the broker is regulated or something like this please. They could be different;)
can live on. This is my opinion.
