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Beginners Capital
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Roberto21

Member Since May 02, 2019  147 posts Roberto21 Aug 21 at 06:04
which amount is more appropriate for new Forex trader , it depends on how much basic knowledge he acquired including practicing, if any newcomer go thorough all basic level of trading with live experience for 6 month , i think he has the capability to reduce unfortunate losses and risk.    

Idowu

Member Since Aug 21, 2019  8 posts Idowu Aug 21 at 09:46
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'

Bastion

Member Since Jan 14, 2017  2 posts Bastion Aug 21 at 13:45
Idowu posted:
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'

Exactly. First: you have to understand what you are doing and what your goal is. Get general knowledge, build your own strategy, the one you understand, not the one that tells you it works. Second: practice on the demo account, take notes, learn more and understand what you are doing.
Third: when you have a stable result in the demo account with your strategy for even 2 months, you can start with whatever amount you want.
The market is not an exact science, the market is art.

Adribaasmet

Member Since Aug 27, 2017  739 posts Adribaasmet Aug 21 at 14:15
Idowu posted:
Beginners capital should be zero. Stick to demo for as long as possible. Then 'only invest what you can afford to lose'


Correct! Demo is the best way of learning Forex; there is no shortcut way of learning; this is why new traders focus on only demo practice!

VirgoG

Member Since Jul 22, 2019  13 posts VirgoG Aug 22 at 07:33
if you are a beginner i agree with most start with demo, and after you are done with demo, use the extra cash you have besides what you need for smooth running of livelihood and savings.

Marraby

Member Since Feb 18, 2019  11 posts Marraby Aug 23 at 19:17
The more the better honestly, but you already should know what are you doing with your money anyway. Please do help me with that matter if you have any numbers, people give you good advices regarding that things like for example demo account but live is where money is.

JL86

Member Since Jul 03, 2019  1 posts JL86 Aug 23 at 23:04
Lol I'll give it to you straight up You need a min 1k. Keep margin above 2000% avoid gold and crypto when new and have a system and a plan.

AmDiab

Member Since Apr 18, 2017  590 posts AmDiab Aug 24 at 15:04
JL86 posted:
Lol I'll give it to you straight up You need a min 1k. Keep margin above 2000% avoid gold and crypto when new and have a system and a plan.


I think, crypto market isn’t mature enough to perform; even experience traders are struggling! So, new traders should avoid the crypto market for trading!

steve_25

Member Since Aug 03, 2019  22 posts steve_25 Aug 26 at 05:54
Absolutely .a beginners focus in the beginning should be more on learning the basics of forex trading rather than anything else. Starting off with a demo account is the best way as he can familiarise himself with the trading platform , its features , how to buy and sell and avoid mistakes on a real account in future. Also, demo account is a great way to test your strategies . You can put your strategy to test and see if it requires some changes to achieve your financial goal. So use a demo account for as long as you want . Once you feel confident enough , you can use a real account and demo account simultaneously to see what works how .

AmDiab

Member Since Apr 18, 2017  590 posts AmDiab Aug 26 at 14:25
steve_25 posted:
Absolutely .a beginners focus in the beginning should be more on learning the basics of forex trading rather than anything else. Starting off with a demo account is the best way as he can familiarise himself with the trading platform , its features , how to buy and sell and avoid mistakes on a real account in future. Also, demo account is a great way to test your strategies . You can put your strategy to test and see if it requires some changes to achieve your financial goal. So use a demo account for as long as you want . Once you feel confident enough , you can use a real account and demo account simultaneously to see what works how .


Thanks, that’s the procedure; basically, which traders try to make money too early they mostly, lose their real money so fast!

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