You can still succeed with starting capital of $500 or Less

[PipMeHappy]

I don’t quite agree with this.

I take the point you’re making, that “we all started as beginners, knowing very little”, and of course that’s quite right in the sense that nobody was born knowing how to do this stuff, but it’s also an inescapable reality that one of the commonest reasons for failure in the early stages is undercapitalisation.

“With enough experience and skills and capital” is a little more realistic: I think the point you’re perhaps missing is that many people who might otherwise eventually have become successful, by gradually gaining skills and experience, effectively deprive themselves of the opportunity to do so through a combination of undercapitalisation and inadequate understanding of position-sizing, whereas those initially better funded, who approach it treating it as a business, with sufficient working capital to cover the initial phases, have the odds far more in their favour.

Just one of the realities of learning to trade, I’m afraid: for all the [I]theoretical[/I] discussions, the [I]reality[/I] is that those with more funding have better overall prospects, so success in forex trading, in practice, [U][B]is[/B][/U] actually fairly closely correlated with initially available funding.

Lexy, you are SO correct…

[idimitrov]

Some people think that with more money is easier, I think that the difference is in trader not in the money.

[ExecConsult]

When I first read this thread I was just starting out and was fascinated at the possibilities it offered. My opinion has not changed much. However, there is one thing that I think should be added. With a small enough account, it is much more difficult to practice sound money management. If the account gets small enough it becomes impossible because you can’t enter a small enough lot size. I am by no means a guru or any type of fascinating success story. I am learning and growing. These are just my $.02. Best of Blessings, Mark

[anon5370623]

yes u can make profit with 500 or even 50, it depends on how much do u expect? I mean theoretacally speaking, the larger the account the less the risk involved compared to smaller account when using the same strategy, but for now if you are new, just take it slow, open demo accounts with good brokers I persoannly trade hotforex and prcatice your strategy, dont forget to go through school of baby pips.

How long have you been trading with this broker? Which type of account do you use with them?

[moreoption]

Many trader at myfxbook could make hundreds grand from 500 or 1000$ with popular brokers. Nothing weird. The principle is how to get TP and avoid Loss as much as you can. No matter if you start from 500 or 5000. Of course with tiny fund, your account could be closed out very soon due to news.

[anon5370623]

Many trader at myfxbook could make hundreds grand from 500 or 1000$ with popular brokers. Nothing weird. The principle is how to get TP and avoid Loss as much as you can. No matter if you start from 500 or 5000. Of course with tiny fund, your account could be closed out very soon due to news.

Well its really not hard to pull out 500-1000$ profit from a broker pocket, but much harder to earn consistently, let the profits be much lower. Because in the long run any trader is doomed for blowout, but in the short we are still able to make trading our job.

[bearish]

Making profit in regular basis in forex trading is not easy task, sometime loss in forex still inevitable, start with 500$ is good already I think, but will good if trader can making profit constent in trading hence start from these amount capital can being more than one tjiusand dollar

[Ippocampus]

The thing is that the more newbie you are the more capital you need because you need low leverage to control your risks. The only way to be profitable with a small account is to be lucky at the start. The first trades should be profitable or you find difficults to get back to break even! Finally you have to recapitalize your profits. Uncle Albert Einstein said: [I]Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.[/I]

[Joe_Ng]

If I would want to earn 1000usd a month.

Which would be much closer to reality?
Starting capital of :-

A)100000 USD
B)1000 USD

For A to reach 1000usd profit in a month , is 1%
For B to reach 1000usd profit in a month , is 100%

Basically. Based it on percentage . your expected profit in percentage based on account balance.

Expectancy is important.

[forexcrisp]

Some people think that with more money is easier, I think that the difference is in trader not in the money.

I fully agree with you, if a person is not able to make money on a $100 account how can he be able to make profit on a $100k account? Its the skills that count. Capital have an effect but you still need skills of trading.

[marginfx]

Of course we can do trading with just $500 or less. I think beginners should have a start with a small investment as brokers offer standard account starting from $200 or more. It is nice amount traders can manage well with their skill and make profit too.

[isrealz]

There is no doubt about this that a capital of $500 is enough for countries where USD has a very high exchange rate. A return of $100 to $150 on $500 is a reasonable income for them.

Yes, it is reasonable. Made this post last year, but today it seems 500usd has not as it use to be. The exchange rates have changed greatly.

[isrealz]

with a deposit of $100 how much would I make daily if I use this strategy?

You can make 5usd daily is you are up for it. This strategy requires you to sit down for at least 5 hours and observe the market, looking for the right time to enter the market and exit within 2 - 5 mins.

[jingoy]

6-7 years ago i started with as low as 100, i think my first hotforex account in 2011 was 150 or so, making smaller goals is essential, i had my share of blown accounts, and i have to say, 2-5usd a day is a big thing for starters, and very doable with a 500 usd account, set limitatinos, parameters that are logical and with in reach dont push for high risk, keep it at minimum, learn to play the long term game, haste is a killer in this business.

[billywhyte]

If I would want to earn 1000usd a month.

Which would be much closer to reality?
Starting capital of :-

A)100000 USD
B)1000 USD

For A to reach 1000usd profit in a month , is 1%
For B to reach 1000usd profit in a month , is 100%

Basically. Based it on percentage . your expected profit in percentage based on account balance.

Expectancy is important.

I think you have the answer to your question. If you are able to afford 100k capital, good for you. You can enter into forex full time with such capital.

[Forex_Verified]

6-7 years ago i started with as low as 100, i think my first hotforex account in 2011 was 150 or so, making smaller goals is essential, i had my share of blown accounts, and i have to say, 2-5usd a day is a big thing for starters, and very doable with a 500 usd account, set limitatinos, parameters that are logical and with in reach dont push for high risk, keep it at minimum, learn to play the long term game, haste is a killer in this business.

That’s true, but if you want to trade for a living one day, 2-5 usd a day won’t get you far… Small accounts are mainly good for learning.

[isrealz]

6-7 years ago i started with as low as 100, i think my first hotforex account in 2011 was 150 or so, making smaller goals is essential, i had my share of blown accounts, and i have to say, 2-5usd a day is a big thing for starters, and very doable with a 500 usd account, set limitatinos, parameters that are logical and with in reach dont push for high risk, keep it at minimum, learn to play the long term game, haste is a killer in this business.

If a trader waits for the right moment to enter a trade, where he is 90% sure of profit, he risks it all, high volume, high leverage and BanG!!! Huge profit. I do this sometimes.

[eddieb]

If a trader waits for the right moment to enter a trade, where he is 90% sure of profit, he risks it all, high volume, high leverage and BanG!!! Huge profit. I do this sometimes.

The key words above are [B]“he risks it all”[/B]
'nuff said

[_bob]

If a trader waits for the right moment to enter a trade, where he is 90% sure of profit, he risks it all, high volume, high leverage and BanG!!! Huge profit. I do this sometimes.

How do you come up with a 90% sure. To me that means 1 in 10 trades will lose n when you lose you’ll lose it all.

To quote eddieb “nuff said”

[mlawson71]

I never risk it all, no matter how sure I am that I am opening the right trade. One could say that I lack confidence, but I’d rather think that I am prudent. I am in no hurry to make big bucks, I just want to slowly and steadily increase the size of my account.