Well, that depends on the trader’s risk appetite. I am not someone who can afford to risk $500 from the very beginning. In fact, when I was starting out, I risked $1000 each with Fxview and ICM. I lost all of that and at that time, I realized that making losses was going to be an important part of my trading journey. And so, I must keep my investments low so that I don’t suffer big losses that I can’t afford.
Because of this, I have decided to never risk what I would need in the next five years.
@Richard You have given me a new idea. I think it’s great to decide what you would need in the coming time and risk without what you can do.
Yes, actually. We all know how much money we need on a regular basis plus some money for emergency purposes. We can simply make little calculations and do our investments accordingly.
For a newbie, making mistakes is common because that’s how they learn to trade. I believe that if someone won’t lose, they won’t understand the importance of wins.
What a thought! It’s true that we should experiment with as many things as a beginner because that’s the time when we don’t know what’s right and what is not. As a beginner, when I was live trading and demo trading simultaneously with Fxview and XM, I tried several strategies and trading plans. Some worked and some didn’t. But I at least got to know what I actually wanted to do and which strategies will help in that matter.
Micro and Mini account are basically letting you to deposit lower funds - as lowest it can be. So if you are mainly looking to make profit, you will have to start considering putting $100 or more. (Even $100 is low, but you can always start at some point rather than $10 or less)
Glad that you guys liked my idea. 
@Stage In forex trading, there is nothing like one size fits all. Every trader must look for strategies and opportunities in accordance with their requirements. This way you can save your money from losing and pave your way to making profits.
What is the ideal leverage for a mini account?
Now there are traders who are fine with high leverage too but otherwise, it’s always better that a beginner goes for a low leverage that can be 1:100 to 1:200. This usually means that with say $500 in your account, you have $50,000 credit funds by the broker.
I see no one’s talking about trading with a large account. I mean even if you’re a beginner, why not try trading big? I personally find trading with a small account much difficult than a larger one.
Yes, definitely. You have to manage the emotions and stick to the plan no matter what. You have to be in discipline in order to become a succesfull trader. Otherwise, you fail.
Sometimes, it becomes really tough because of the mental stress in live trading environment. But if you believe in yourself and your trading plan, then things will work.
Well, that’s simply because these accounts are perfect for traders with small capital and allow you to enter the market with a minimum deposit of $100. The brokers I traded with were Fxview and eToro and they gave me an option to trade micro or mini lots. It actually helped me control the risk levels which I guess is ideal for all the beginners. Of course if yours is a different case where you won’t mind risking a few Dollars trading big.
I also think that positive reinforcement in such forums makes a big difference, for me it does.
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Start with micro account and gradually shift to mini account.
I also started off with low leverage only and could trade flexibly with multiple contracts on any available market, primarily because my account was buffered against mistakes and unexpected losses.
Maybe that’s because people initially want to trade on a budget. Day trading for some reason has been quite famous among new traders because they can start anywhere in between $500- $1000. However, there can be traders like you who wish to go big, say $2500, swing trading in your case would be ideal that can give you an option to hold your position for days and even weeks.
So what do you suggest is better, swing trading or day trading? And this I’m speaking in the context of beginners.