The Required amount to Swing trade and day trade as Start up capital

Beginner Questions
1

Hello everyone, please what’s the required amount of capital in USD to Start Swing trading in my forex trading career, And day trading? But am more interested into Swing trading… thanks…I will like know from experts in this platform…

2

My opinion would be as low as possible because the key word here is you’re just started trading and how much the capital doesn’t even a concern yet. Your concern should be find an edge in the market and understand how the market works.You must gain some experience first before considering putting any capital in the market.

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3

Absolutely everything Icebear says just above is exactly right.

Keep reading and re-reading every sentence of his post.

For a start, you’ve misunderstood something at a basic level, here. “Swing Trading” and “Day Trading” are not two different things. Swing trading is not related to timeframes or trade duration. It can be intraday, fast, slow, very slow, any speed you want. If you’ve read somewhere or heard somewhere that swing trading is slower than day trading, stop looking or listening there because it’s misinformation and unhelpful and other stuff there may be, too.

As a guideline, when you get there, think $300 per 0.01 lot.

$3,000 for 0.1 lots.

$30,000 for 1.0 lots.

Much more than you thought or hoped? Yes, you’ve been misinformed about that, too. Most people are.

4

Hi, in my opinion you should not touch day trading in any type

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5

Start by asking yourself what your objective is, and why, before you jump into selecting a specific form of trading just because you like the sound of it.
Example. What? I want to trade Forex. Why? To make money. Now you have the basis of a strategic plan. You need to follow that with who, when, where and how.
If you start the Babypips education course, you will soon learn that you do not need any money to start learning. But you need a plan. A learned colleague of mine on this forum always says that a learner’s objective should be to learn NOT to lose money. I agree with him wholeheartedly. Try to resist the need to put money in and quantify it, before you have some paper trading experience. You are far more likely to be successful by following this simple advice, than to jump in like a bull in a china shop. Best of luck with your new passion of trading.

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6

Demo trade first!

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