OP I get you.While the idea it is not unreasonable, I think $10 a month is unrealistic for a begging trader who is trading a $50 account.If you have your mind fixed on withdrawing $10 per month then you need to make far more in other to grow that account and make up for expected losses because you are bound to have them.Try to hone your skill on a small demo account.Do this,open and close trades on a demo account untill you run it down to like $200,using low leverage try to see if you can be consistently profitable.In the meantime,stop thinking about making it in forex so soon,find some other ways to earn a little cash to mitigate expenses(I know you are a busy student but since you could learn to trade you can squeeze out time and I believe you are smart enough to find another means),cut down on spendings and save up.Focus on the process first it’s the most important thing.Hope I made a little sense
I’m in Morocco 
trading an account worth $ 46! I think there is still hope and opportunity to develop the account and not to withdraw!
You can start trading with a small amount just to practice. In order to earn significant profits you will have to trade with a larger amount.
For starters, you’ll have enough to trade 50 $, but getting 20 $ a day is quite a lot. I advise you to trade with small leverage, minimizing your risks. Only when you gain experience can you get a 20-30 % profit from your deposit.
Hey NQ I’m a newbie and I’m confused about the suitable strategy or indicator to use in analyzing my trades as I don’t have a laptop at the moment, can you help me out please?
Everything depends directly on you and your efforts. You need to learn and gain experience actively. Of course, I would advise you to open a demo account, that you have found it easier to relate to failures and gain experience in trading. It is very important to understand the basics of trading because it is not as simple as it seems. In general, you need to earn 10% of your investment, at least, so at first, you will receive no more than 5-10 $ per day with a capital of 50 dollars. The main thing for you now is not to be greedy and trade wisely, for you can stay even without your investment.
It’s the best idea to start with a smaller amount in trading and grow your capital slowly. The reason is you will make more mistakes at the initial stages and there are more chances of losing your money. Practice and gain experience and raise your capital simultaneously. I would suggest you to start with $200-$500 and see the results.
Trade with a low account balance requires maximum attention and discipline. Otherwise, this money will not be.
You can start Forex trading with an amount which is as little as $50. But try to follow the general rule of thumb in Forex by not risking more than 2% of your capital. So, with a $100 account, you can only risk $2 according to the rule. With this little amount one cannot expect a decent amount of profit.
When someone says small balance, what comes to my mind is $500 to say the least. Less than that won’t fetch you any profits.
According to me a minimum one should have is $1000 in order to maintain a good account. So, what is the minimum balance that one must have in order to earn decent profits, according to you?
Trading a small account requires very strict risk and money management because there is no buffer against mistakes or any unexpected losses, Trading a small account is much more difficult than trading a large account. Large accounts are buffered against mistakes, unexpected losing streaks, and sometimes even bad traders, but small accounts have no such buffer.
I understand your dilemma. However the best advice is to understand the process and then start trading. If you jump into the process without skills, you shall more likely deplete the account.
It will be better to start with a small account first. because it is a very risky platform.
Don’t get hung up on the balance and whether its big or small. Focus on the percentage of capital risked per trade and your consistency. After that leave the money in the account and let compounding do its work.
As Newton said best way to learn science is to solve problem. The same is applied to trading. Start with demo account right away (Hotforex or Tickmill is a good choice) and you should get a lot of questions you could never think about!
I think it best to start off with a small balance after you have used demo.
You are best starting with a demo until you have a profitable strategy and then go live. You can’t trade to make money really otherwise you’ll trade out of desperation.
Once you are able to trade I would make sure you have another source of income from a job for now and let compounding work its magic.
$50 isn’t less mate. There are many brokers that allow you to trade with as little as $10. So that’s sorted. But, if I were you, I would have planned on investing this much amount wisely after learning all about the forex market.