I think a beginner should start trading with $50 to check his ability in the market. Before trading in the live account, it is better to trade in demo account first.
Actually forex trading is a risky business every know that. so in my opinion A new forex trader should invest as much money as he can cover even if he loses money.
sometimes learning not works in practical when there is no regular level of practising. so it is more appropriate to ensure regular practice.
Wouldn’t the logic be to invest as little as possible as first to minimize losses? If they don’t know how to trade properly yet and don’t know how to minimize risk topping up an ever decreasing account doesn’t really help.
Ah yes. Just a small amount not something big that will take away from my monthly budget.
Not even if it’s just a small amount? I feel like I’d take trading more seriously if real money were involved.
I say go for it. If you have $100 you’re okay losing then who are you hurting? If you use strict money management, 1 or 2% per trade and don’t try to double it in a week or month then trust me, you’ll learn more that way than on the practice account. As long as you’re serious about it.
Beware though, the numbers will look very small compared to what you’re used to. That is the one issue with practice accounts, they let you play with an unrealistic amount of money, then when it comes time to open a live account you’re tempted to go in bigger than you should because of the numbers you’re used to seeing.
Play smart and good luck.
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I like the idea of putting some skin in the game. As you said, and countless others have remarked in the past, the psychology aspect of trading takes on a new face when you move to a live account. I would only caution to be smart about your opening balance.
I’m looking to go live soon and was practicing on Demo for over 3 months, before i go live as a beginner should i trade with a higher range even if i can compensate for myself or should i just start low and learn about live trading since its the first time ?
Congratulations, first . You are about to lose your virginity… trading speaking. Pls make the math. If you finiSenseis course. … I did … my fault. 1% max 2 %. So fi it out . I personally don’t recommend small deposits coz are more likely to bnkrup. There is a thing called greed , wich is the way this new online game makes, moneys. Depends on what you trade man, by my humble opinion. You need backup. Always. If you didn’t made your homework and he goes against you. You must play chill. He will be bk. But for a fun training, you must play safe , then only lose from your earnings. Gl
I do agree with most here, the thinking when trading demo and real money somehow is different. So if you’ve been on demo account for 3 to 6 months and you’ve had a strategy to test, it’s time you feel the real money. The earn-ability because you don’t have a big account anymore, brings one to reality. Start with what you can afford to lose. Good luck
$5,000 - $10,000
£100k if you want to make a living.
start with zero, unless you have learnt money management. use only a fraction of your demo dollars. i always traded inside a thousand. eg if the account went from 10000 to 9000, that was a wipeout. you will learn to trade small that way and prepare yourself for a 1000 live account. when you take the demo to 13000 (only playing inside the thousand) should you go live. when you go live, you are part of the 99% fodder for the one percenters.
An easy question to answer Zian - whatever you are prepared to lose, and no more!
A beginner start with minimum $100 to starting the trade.But as a beginner he must should remind that not to do trade before learning and practising trade properly.To leaning trade he can follow many forums trade dicussion like babypips,forexfactory,fastlane,earnforex ect.Besides he can follow the website who are learning and giving many tips for the forex beginners like mfxcenter
In my case as a newbie, I start my live account with $4,500 way back July 1, 2020. At the end of the month, I profit $5,200. I used daily and 4h chart. Also following risk management.
To be honest, the more I think about it, the more I realized that it is actually up to you. You just need to find the medium - not too much but not too less.
But it can be useful if you want to start with $100, but the profitable is not that much, at the same time, you won’t be losing that much, so you will have to think about it twice.
Trading is a professional and business. The answer to your question can only be how much do you want to start your business with? How much does it take to develop a professional like becoming a lawyer, a teacher or an engineer? Does it take only $100? my answer is a big no.
Like all professionals, you need to develop your skills first and you require deliberate practice. Go slow and take your time to learn. Trading requires time, energy, money, and perseverance.
The market waits for nobody, and you need to have the right mindset if you are to become a successful trader. Your resources/funds will determine how long you will survive in the field of professionals. But ensure that your starting capital can at least make you motivated to learn from your mistakes and profit from your experience.
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