I hear that according to the experts you really should not trade if you have less than 10,000 in risk capital,does anybody know anybody who has that amount or more sitting around and can say oh well its just 10,000 i can lose it no big deal?It seems to me that if you only have a smaller amount(like me who has $3,000) and can only trade a mini account you can forget about ever make a living trading something thats only a dollar a pip.You know how long you would have to trade a mini to get your account up to be able to trade the 100,000 lot?I have traded on a demo now for 6 months trading the 100,000 lot and bring in on AVERAGE 4,000 to $5,000 a month even though i would never expect that on a real account demoes are worthless (i traded futures a long time ago started paper trading all was well opened a real account than BAM reality set in) like any honest broker will tell you on their website and give you the reasons why its alot different when trading for real.So should i open a mini account and trade for 10 years to finally trade a 100,000 lot or save my 3,000 and forget it.Has anybody out there ever takin an amount like i have on a mini account and actually turned it into a decent size account that didint take half their life to do it?I just dont see how it can be done.Is there anybody out there who has $20,000 or more to risk want to cut me a check for $10,000 (just kidding)
I think each trader’s situation is different and no matter how much money your risking, you have to leverage it properly and have a plan etc, etc. So you don’t wipe yourself out…stupidly. If you do well, even starting with 3k…you could be up to 10 in not too too long…i’m thinking! 
Cheers.
i think if you are confident in your strategy and have a plan you can easily compund a 3000dollar account - provided you are an experienced good trader.
Myself with an account size that big i would be suing 10:1 true leverage: that would me 3000*10=30000 contract size being $3pips - so then only need 300 odd pips to get to $4000 then i would be trading $4 dollar pips and then you only need 250pips to get to $5000 and 5 dollar pips.
If you can make and hold onto your pips then $3000 is plenty enough - if you cant make and hold onto your pips then it doesnt matter how much money you got.
goldfibre,
[B]The difference between success and failure in this business is trading ability, not initial capital. [/B]
Most of the people who try forex trading, fail at forex trading. We often hear the 95% figure bandied about — referring to a
95% failure rate. I don’t know who came up with that figure, or whether it’s accurate. But, I think it’s pretty clear that the failure rate is high. For the sake of argument, let’s assume that [B]5% success / 95% failure[/B] is accurate.
The 5% who make it in this business have learned all of the skills required to trade profitably and consistently. In most cases, they taught themselves how to trade successfully, using resources which are basically free or inexpensive, and without using high-priced training courses, coaches or mentors.
They did the tough work required to become [B]traders[/B], because they had the[B] determination[/B], the [B]focus[/B] and the [B]discipline[/B] to make it happen. The 95% who became [B]washouts[/B], instead of traders, lacked those traits.
There are different degrees of success. Of the 5% who are successful…
…some are able to [B]supplement their regular incomes[/B] with forex profits, on a consistent basis
…some are able to [B]make their living[/B] trading forex, without any other source of income
…and some are able to [B]earn large fortunes[/B] trading forex.
In every case, the degree of success achieved by each trader is determined by his or her ability to trade —
it is not determined by his or her starting capital.
If you have the ability to trade, then you can take a modest $1,000 starter account — or even a tiny $100 starter account — and grow it into significant trading capital.
If you don’t know how to trade, you can take a hefty $50,000 initial sum and turn it into zilch.
So, let’s say you are one of the 5% who has the determination, the focus and the discipline to teach yourself to become a successful trader. How long with that take you?
No one can predict that. But, whether it takes you six months or six years, you [B]will[/B] make it happen — that’s what determination, focus and discipline are all about.
[B]After you have mastered trading[/B], what can you do with a modest starter account?
Here are some numbers I posted not long ago which suggest one answer to that question: 301 Moved Permanently
Clint
No offense, but posts like this really bug me…
What you’re basically saying is that you don’t want to do the work and put in the required time to be a successful forex trader. So what if it takes 10 years to pull in $5000 a month!! How much will your $3000 be making after 10 years if you put it in a savings account?
Forex is not a get-rich-quick scheme, it’s a get-rich-SLOW scheme! I started trading forex about 2 years ago with around $3000, just like you. I plan to be a millionaire within a decade, and my rate of return tells me I’m right on track.
The kicker here is that in 2 years I’ve made less than a typical McDonald’s employee makes in a year! The difference is that I can see ahead into the future, while the burger flipper (and you) are stuck in the present. I’m making low dollar amount now, but I’m doubling my money every year. You only have to double a penny 28 times before it turns into a million!
Saying “ten years is too long, so why even try?” is the exact reason that most traders fail, they want success now and don’t want to wait for it.
�The most powerful force in the universe is compound interest� - Albert Einstein