It is wise to risk minimum amount in trading . It is not matter you are not making high profits ,if you are a profitable trader that is a big success. Hurry in trading will dangerous become a regular and consistent trader if you want long run success.
It is quite possible that you can grow with less than 500$ in forex trading, forex is good rewarding business and if any person has good knowledge and vast demo trading experience then surely he can get the success with this capital.
YeahâŚ! If you have proper knowledge about Forex Trading, then you could make profit with just as low capital as with $100.
Actually the amount of money to start trading is completely depends upon the brokers. Different brokers demand different amount of money. Money management is too important in forex market. And for good money management you need good balance too.
One can, indeed, but how large will that profit be? And how long will it take to grow that account?
First of all, in order to grow that account you need a Cent Account or Micro Lot account, where you can trade in the smallest volume. you have to risk 2 usd per day. This means, in every trade, you either gain 2 usd or loose 2 usd. In a week, make sure you donât lose a trade twice. As long as your winning ratio good for each week. 5 days in a week will give you 10USD every week. This is the best way to make use of a 100USD capital.
That sounds easy in theory, but not so much in practice. So far I donât have a single week without at least one losing trade.
That doesnât mean that one canât grow such an account and canât profit from it, but one does have to factor loss somewhere.
Forex trading business is not impossible for retail Forex traders! But, they have to maintain restricted money management policies and professional trading plan! On the other hand, starting with standard trading capital doesnât mean easy success! A proper trading plan can helps retail trader to build up a standard trading capital!
True, the size of the account has little relevance to how successful a trader would be. If you have good money and risk management, a good strategy, discipline and emotional fortitude you can succeed.
Good idea to start with a small risk and gain consistency in the results but the described scenario I find pretty much impossible. The market is not something that predictable and consistent to have such winning rate even if you are George Soros⌠Additionally, having equal SL and TP is not the best idea. Sure it depends on your strategy but in the ideal random case (50% profitable and 50% losing trades) you will still lose money because of the trading costs spreads and commissions⌠I would more look for risk much lower than the reward being aimed. Where you will have a lot of losing trades but your winning trades will cover them. As for the 500$ account, sure it can lead you to success, it is all in your handsâŚ
I place my stop loss higher than my TP incase of a rebound. The stop loss needs to be placed in a way that there is room for a possible rebound should the market turn around.
First of all I must say that $500 quite huge amount and is the ideal amount to do forex efficiently, you will have to show the patience and will have to do forex with proper planning and strategy, you can earn huge profit with this investment.
Itâs an interesting view, and certainly rather an unusual one ⌠but if youâd actually read the thread before replying to it (though âwhy break the habits of a lifetime?â), you might have noticed that the question youâre purporting to answer here was asked 3 years ago ⌠
In my country $500 is a very reasonable amount to start trading with. The salary or earning per month of many people are around $250 to $350 here so $500 is a good amount to start with.
From what I have been learning from this thread, I think the main essence is not really the amount but more about the emotional dsicipline to stick to your strategy on a longer term. Most traders have suffered great losses because they abandoned their strategies in open positions; some would even ignore closing a trade at the supposed stop loss wrongly hoping for an impossible reversal.
Starting this business with this amount i.e. 500$ can be beneficial and you can earn much more with this investment, you should start this business after having proper knowledge and experience and then you can become the millionaire with this investment.
This topic of interest to me. I would like to know what kind of strategy would give someone a consistent income with $500 capital. I donât see the strategy by Israel to be a real one, let alone consistent. Is 500 bucks enough to trade Forex?
Lol for sure trading âall inâ in long term is not a good idea. IMO this should not be discussed at all as an option. Comment N.68 is a good and simple idea. In this thread you can also read comment N.3
Besides that 500$ should be enough for a start if you can trade microlots and not risking too much on a single trader (1-3% max)
Absolutely, 500$ is not a worst capital to start with! If a retail trader have good trading knowledge on financial market then of course he/she will be able to make a healthy trading equity by 500$ even less amount of capital!
with $500 you have good trading conditions in most broker, as hotforex has premium requires minimum $500 deposit.