IS $1000 ok to start trading?

Hi guys just wondering is $1000 ok to start trading ? is it too small ? what is my chances of actually making a little money if I am winning ( lets just say ) . As you guys can see I am new to this so just trying to get my head around , sorry if its a silly question .
Thank you
sam

Yes! all depends in your broker minimum requirement.

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It all depends what you’re comfortable with, however it is recommended that you have more than $1, $10 and $100 as equity for trading. $1000 is fine in my opinion. Some traders have turned $1 and $10 into $1000 but that because they have used high leverage, which as you know, is a risk.

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It more than OK… Although it depends on your brokers minimum and your risk management. Just in case you are new to trading, you can try something lower, just so you won’t blow the account up. Except you have an expert autotrader

Some brokers have certain minimum deposit requirements so this amount could depend on what kind of broker you have selected to trade with. Other than that you should select this amount very carefully if you’re a new trader. Start with small amount so that it doesn’t affect your finances and savings. Just a suggestion though.

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can you suggest a broker in Australia please

It’s a decent amount to start with! By the way, if you are really happy on your demo’s performance only then go for the live. Otherwise, practice more & more.

Normally demo accounts had much capital as $5000 to $10000 for demo practice when traders deal this amount they are happy to making profit as well as with loss because recovering loss with fake amount pays nothing for them… Come to live account with reasonable and safe amount not invest all saving in this business when you are new I think $1000 is smart amount if had practice to manage it other wise you can get a start with little amount to get experience.

You know the rules here. Such information can’t be shared here. Anyway what’s your name. Am kenra clegg
You can find me with that name on another platform.

I did try minimum amount around 100-200$ at many brokers and it’s quite ok if you want to earn few bucks a day with minimal trading volume. $1000 is good but not for start, you should start with minimal then increase the fund over time when you’re ready to earn more (and lose more)

It is more than enough. If it is your first time investing in forex trading, then you should start with a small amount. Also trade with the amount you can afford to lose. You can always increase your investment capital. What are your thoughts on this guys?

No. I don’t think so. I think $1000 is sufficient as today many brokers are offering micro trading account where a forex trader can trade with any smaller amount ranging from $100 to $500.

I believe between $500 to $1000 is a great amount to start with

$1000 is a huge amount for trading. Yes you can do start trading with this amount only when you have a huge experience and knowledge about trading. Because if you don’t have than there is a huge possibility that you might be suffer from a huge loss which you can’t imagine. So I will prefer low amount trading on initial stage.

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I plan on starting with $1,000 early next year, but you’re right. You MUST have a good strategy set in place, along with proper risk management skills. I risk no more than 1% on every trade I place

I think it was on the School of Pipsology that I read that one of the killing factor of Newbie traders is “UNDERCAPITALIZATION”, trying to turn $100 to $10,000 in few months and end up blowing the account.

If you have learnt enough and Demo Traded your way to consistent profitability, it doesn’t matter the amount you start with because from learning and Demo Trading you would have known your expectancy.

Just start trading Demo with $1000 for some months and you’ll answer the question yourself.

You can read up more on Pipcrawler’s thread on Newbie expectation here
Good luck on your trading and MAY THE PIPS BE WITH YOU.
Cheers!

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The problem lies when trader do not get same results as they were making in demo even with same account they invest in live account. I find the reason they are much interested in profit taking rather than trade management and risk management. Consistent traders can make good amount of earning with $1000 capital.

I think that $1000 is a very big amount to start with. You need to start with a small account. There is no need to rush things by investing with a high value. I will advise you to invest with small amount and then see how the trading goes. There is no need to invest big in the beginning.