Learn to trade profitably. Keep a trading journal. And after about a year or two of trading live you could look for a position at a prop firm and have access to more capital. This would allow you to build your own capital while making a decent income if you ultimately want to trade for yourself.
This is not an option that everyone would want to take but it is the way I did it quite some time ago.
It really depends on what you expect. First of all, very likely your monthly income pattern will be looking like +x, +y, 0, -z, +a, etc. You won’t be receiving 5% income every month. Your balance will be going up and down. That is why it is reasonable to get a three-month average at least. Expect real profits to be roughly about 10% in a three-month period (including fees, slippage, missed opportunities, etc, etc). If you need to have $10,000 within a quarter and you make about 10%, then you shall be looking for a capital of approximately $100,000
$1000 and above
My personal thinking is 5% a month you will make so a bank of £100k probably.
Totally agree with you guys sharing the post on trading. I have been trading for
over a year and I am still struggling . Loses more than wins . A valid setup often
turns into stop loss trigger and wondering what the hell is happening.
Really salute you guys trading for a living. Imagine the pressure of making
a profit and making ends meet.
It never ceases to amaze me that so many people CANNOT answer a simple question when asked. The OP asked “How much money do you need to begin trading for a living” and look at the answers here? As much as 80% dont answer that question.
Anyway, to my thinking it depends in large part on where one lives. Where I am 20k would probably be more than enough.
i need 750$ for a living and i need 25000$ for trading
Generally, you should start with an amount you can afford to lose. Because it is expected that there will be loses especially at the beginning.
Hi. I’m self-employed for the past 12 years. I agree.
Plus, as a beginner, we must also consider the margin requirement of the security you’re trading in.
With bitcoin (BTC/USD) for example, which has a more affordable lot sizes compared with popular forex pairs (like the Yen pairs), if you’re start trading at a low lot size of, example, 0.01, with an initial medium capital of, let’s say, $4,000, then, the possibility of being margin called or stopped out at 50% of your equity by your broker, is less likely because you have enough starting capital that provides breathing space.
In my case, the starting capital i must have is $4,000.
But, if you want to trade the popular forex pairs, gold or oil, then, you would definitely need a higher capital.
The very important key is, you must take time first to practice and sharpen your trading skill on a demo account. If you are already profitable in a demo account, then, you’re ready dive in a live account.
Just my worth 2-cent of thoughts.
I need £150K
Ha ha been reading the odd old post on here , interesting its "come back to life " for the time being
Not much. As a beginner, need $500 to play with…
The most important thing is knowing how to trade investing in a good training is everything.
The best traders will make about 5% per month consistently (yes I know someone will jump in and say they can make 5% per day, but that’s why why use the word “consistently”.) So, with this in mind, if you start with £100 it’s still going to take you a long time to make serious money. If you have a proven track record and are making good %ROR, then it’s really worth beg, borrowing or stealing a decent sum like £50K and then you can start making serious money much more quickly and your accout can then also withstand big drawdowns to cover cost of living. Even with a ROR of about 5% per month I’ll need to get up to a capital of at least £125K before I can go full time and dump the day job…-That’s cos I need £70K per year to cover mortgage/food/cars/bills/holidays/university accomodation and school fees for the kids.
Two part answer:
I wish you well!
Profit = Capital x Strategy
If Profit is less than required annual income, either increase Capital or increase the return on Strategy employed.
You don’t need much at the start of your trading career. However, sufficient capital is required to survive in the market. It is determined by your goals, objectives and expectations.
If you are doing it at the beginning as a side job then not a lot, i think even $1000 is enough. However, if you actually want to make it your full tie job then you need to plan your target so that you can live on monthly that you can consistently achieve
It depends on your financial goals and objectives. Your expectations define your investment. However, you can begin with small capital and can expand your account size later.