I was wondering how much would you recommend funding an account minimum in USD?
I’m still practicing on demo trading, but this would be for future references when the strategy shows consistency after several months.
Novaturient.
How much can you afford to lose without causing anguish or affecting your family life? If that figure is, say $100, then that’s your answer.
Don’t borrow from friends, the bank, or credit cards.
Unless you have proven yourself, for live trading 200$ to 500$ is good enough. Or you can trade in cents account with 50$ to 100$ untill you are making consistent profit with real money. Then you can make big deposit.
Since forex is a competitive market I think you should go with the mini accounts first. And scalping with major pairs can actually help you to survive successfully in the initial stage. Best of luck.
I will not recommend scalping for beginners it is quick way of earning and loosing until you not had certain practice to handle it. Investment should be according to your ease . Not put yourself for funding. You can invest more any time . First time you need to be careful.
No, I will not fund this much amount. it is a big amount for a beginner. up to $100 is enough to have a start. Although one can not make good earning from this but, it is safe until he is not experienced trader then he can better decide how much amount he can manage in trading easily.
Don’t invest your full capital initially! If you have total 2K; then invest only 500$ even you can go with 200$; you have to know your live performances first!
Sorry that I was late replying back to everyone. There were some family events that needed some attention, and it was a long drive back and forth. Things should be sorted out.
Also, thanks for the insightful responses everyone! It’s all really interesting to read, sense everyone has their own perspectives and methods on the market.
I’ll take into account what everyone has stated, and ask my nooby questions which I’ll probably think about throughout the journey.
I’ll be sure to raise the funds, but of course DEMO PRACTICE first, haha. I am making some decent progress on demo trading, but I still have to be consistent throughout the year. So this year will be the prep year for everything.
And of course without killing myself over, lmfao!