Hi all,
I am a little unclear on how much I should start with??
Would $5,000 be enough?
Please help!
For new trader, it is more than enough.
I recommend way less than that.
Probably the minimum that’s required to get your feet wet. $100 should suffice and there are brokers who allows for it.
So as you make progress you can slowly add to you account at a pace you’re comfortable with.
Whats the pros of it? If you screw up, you only lose that $100.
Had you use that $5000, you would probably lose that entire chunk of it.
So i’d rather you lose that $100 50 times than to lose $5000 at once.
Why pay more for lessons that the market wants to teach you? Good luck!
As long as you have paper traded in a demo account for at least 6 months to a year and gotten your discipline and money management down firm, I would say at least (and this is bare minimum) 1,000.
You have to tailor your lot size to fit your account size for adequate risk.
You can really start with as little as you want but beware the newbie-eating monster, undercapitalization.
If you can afford 5,000, and you are very disciplined in your efforts, there’s no reason you cannot start with this and go far.
Just don’t be impatient trading small and taking small profits (and more importantly SMALL losses) for the foreseeable future. Most beginning traders shoot themselves in the foot by overleveraging their account …myself included. This causes you to stop, bang your head on the desk in frustration, and save more capital to fund the account again. Not fun or cool.
Educate yourself and really take the time to develop your trading plan and build a firm foundation to start on.
From Trader to Trader, I wish you the best of fortune in your endeavor. 
Not sure of where you are the world guvvy but if it is
possible I would put £100 in Oanda & trade with 1p/pip
until you are in profit.
Then you can increase your account balance as you improve.
Trading with real money on the line psychologically is so much
different than demo. So to go from demo to even just 10p/pip
can be difficult. Trading a $5 000 account could be psychologically
scarring.
Addendum I concur with fartist, we may have been writing our replies
together & he beat me to the punch.
Thank you all. I appreciate it
I agree with the £100 pound point.
Please could you help me with the settings I would need to do a 1p per pip on mt4 ppease
A: Review all the beginner material on Forex trading, if you have done this already - move on to the next step
B: Review the brokers, review the different accounts they offer and figure out which broker will suit you best
C: Do a dry run with demo account
D: Always start small and as to the specific amount, it’s your call.
$50 on a nano account. Once you double that by trading then add $900. Double that trading and then you can safely add as much as possible… you are a profitable trader.
A new trader is likely to blow his first account. Might as well lose very little. We always think we are the exception to the statistics lol!
I wouldn’t start trading fulltime unless you had close to 100K in free capital. Doing 1% a week would only make you 4K a month which is nothing. Unless you live in kenya. I imagine most of us do not.
If you are a newbie i would recommend you to start up with 1K max.
Lol sorry about that! I’ve had too much free time thus lurking around babypips! 
anything less then 1,000 means that you will be leveraged and probably will end up losing it all. if you can’t afford to put in more then 1,000 and losing it will make you mad, then start saving and don’t be trading.
Another thing I can recommend is to try a No Deposit Bonus before you decide to fund your first account. You will get your feet wet with live trading, if you lose you will not lose your own capital, if you make money and meet the requirements they will transfer your earnings into a life account and then you can add your own funds. Some people may disagree, but to me it makes sense. You can check out PaxForex, they offer a $200 No Deposit Bonus.
A lot of people like demo accounts, but you will not earn anything with them so to me they are a waste of time.
Open a demo account with Oanda, you can set the starting balance
to £100. It is a Java driven platform, but that doesn’t matter because you
are only using it to place trades.
They do have MT4 as well but if you already have a MT4 account set up at
another broker all you need to do is carry out your analyses on your MT4
account & place your trades on the Oanda platform.
The Oanda market order window is better than the MT4 as well. When you
choose the size of trade ie 10 000 it automatically shows pip size.
For 1p/pip you would trade 1 000 units.
If someone makes only 1% per week than he is not made for forex.
Paxforex No deposit Bonus is useless.Read their conditions.
I did and it is very useful. They have acceptable conditions which can easily be reached. Even if you don’t reach them it beats a normal demo account. This way you trade a live account and have a chance to get the profits you make, if you do make them. This is just my opinion, but I prefer it over any demo account.
Lol, but remember of the power of compounding of 1% weekly!
you will live like a king if you can make 1% weekly compounding ok? do your math my friend. Remember trading is a marathon! it’s not sprint!