Rightly said, don’t keep your target too high. Nobody can earn a fortune from trading in the beginning so be patient and consistent with that. You will get there eventually through experience and more knowledge.
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Hahaa exactly, retail traders would not exist!
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Precisely! So many think they can run before they walk!
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That was me! I would sit in bed trading on my phone.
I won a few trades. I was thinking, “man! This is easy!”
Shortly after that, the market humbled me. Now, I understand the importance of walking first.
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Rightly said @REaley . We all have made this mistake in the beginning but it important to understand it first before rushing into it
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Indeed, too many want a get rich quick option
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All a learning curve, hope you didnt get burnt to badly
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That’s what I was hoping for! A small part of me is still chasing that. But I know that’s not how forex works.
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This is something that I personally got mad at when starting out, cause all traders are hesitant of telling you an exact amount. On the other hand, scammers will jump on you telling you to invest your entire life savings. 
Even though from this perspective I understand why no one wants to give a specific amount, I can completely understand your frustration.
In my personal experience, anything below $3000 is not gonna cut it, not because of profits or anything like that, it’s simply because of policies about managing the trade.
Imagine you want to open a position based on the Weekly time frame, your stop-loss is easily going to be 150-250 pip range. And also let’s say you have a scaling out policy, meaning you cash out portions of the trade, as the trade progresses. Well, if you have $1000 you are not gonna be able to take full advantage of that trading opportunity because your lot size might be 0.01, and you might have to cash out at your first infliction point. By doing that, you are effectively shooting yourself in the foot, simply because your win to loss ratio is terrible. You’d need to win 15 trades when you loose just one, which is terrible, you are never gonna make any money.
But with a minimum of $3000 you can fully take advantage of those bigger positions. An optimal amount would be $5000, but since you are asking the bare minimum, 3K would suffice it.
I hope this helps since I wish someone told me this when I was getting started.
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Honestly don’t put in a lot of money initially. Even if you make a profir once or twice don’t be greedy, be patient and consistent with your lot sizes. Once you are into the forex trading thouroughly, when you start to understand the market swings well you can increase the lot sizes and gain more.
It is always advisable to start with an amount you can afford to loose say $100
That’s true but without consistency and patience that is not possible.
If you start with $5,000, you have even more flexibility and can trade mini lots as well as micro lots. If you buy the EUR/USD at 1.3025 and place a stop loss at 1.3017 (eight pips of risk), you could buy 6 mini lots and 2 micro lots.
As much as you can afford to lose
But seriously just £100 I would say. Live trading is emotionally very different to demo trading.
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You can get lucky, but then you get complacent, and then you blow your account! lol
I don’t agree with you on this completely as I think $3000 is a big amount for the new traders who are just understanding in the beginning
I accidentally posted my answer in wrong thread.
I’d say start with $50 - $100 which can give you a potential profit if you are able to make a consistency in profit, but I would suggest to keep practicing more and more in demo before you are 100% being able to make a consistency profit in demo. Because if you do not, how do you expect to make the same in live with fear of losing money set in your mind?
The best part these days is the low capital that one can start with.
I agree with your thinking. I think its useless to tell new traders to invest and trade with as much as they can afford to lose. Like telling a new driver to drive as fast as their airbag will withstand.
Assuming a trader has a rational and consistently profitable strategy when they start live trading - and they shouldn’t even start trading full-size with real money if they don’t have this yet from demo trading or minimal-sized trading - my advice is put in as much as you can afford to not touch for the next year to pay your bills. The upper limit for me is the amount that is guaranteed by the client protection scheme applicable to my account (currently £85k).