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Forex Amount

MP_89
Mar 04 2020 at 11:34
47 posts
fancydandy posted:
For the beginner, it would be probably be the best for them to start with demo account and get dabbled with various variables and understanding those variables.
Once they get comfortable with making profits, they can start with real account. For that, it would be best for them to try Micro account - basically you can deposit minimum deposit - say $50, even $5 is fine (based on broker's conditions) and start facing the reality.


want to clarify one thing. if i want to test demo acc should i also trade with $50? or could i put any amount i want just for check?
thx.

togr (togr)
Mar 04 2020 at 11:53
4862 posts
MP_89 posted:
fancydandy posted:
For the beginner, it would be probably be the best for them to start with demo account and get dabbled with various variables and understanding those variables.
Once they get comfortable with making profits, they can start with real account. For that, it would be best for them to try Micro account - basically you can deposit minimum deposit - say $50, even $5 is fine (based on broker's conditions) and start facing the reality.


want to clarify one thing. if i want to test demo acc should i also trade with $50? or could i put any amount i want just for check?
thx.

Nope, use normal amount like $1,000 for demo

PeteLanceley
Mar 06 2020 at 15:40
48 posts
Roberto21 posted:
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.    


Depends on your bank roll. How much can you afford to potentially lose?

Michihito
Sep 04 2020 at 07:24
298 posts
Initially 100/200$ is enough. But before going into live trading one needs to develop a system. A system that includes everything. Trade entry and exit policy, money management and risk management policy, good winning percentage and good risk and reward ratio.

togr (togr)
Sep 04 2020 at 08:22
4862 posts
Michihito posted:
Initially 100/200$ is enough. But before going into live trading one needs to develop a system. A system that includes everything. Trade entry and exit policy, money management and risk management policy, good winning percentage and good risk and reward ratio.


That is very common mistake.
People trade underfunded accounts and end up with the loss.
With properly funded accounts they can be profitable while using the same trading strategy.
Who does agree?

davidkew
Oct 14 2020 at 11:39
34 posts
Start small, but enough that can actually give your trading a thrust.

SofieAndreasen
Oct 28 2020 at 13:58
377 posts
Michihito posted:
Initially 100/200$ is enough. But before going into live trading one needs to develop a system. A system that includes everything. Trade entry and exit policy, money management and risk management policy, good winning percentage and good risk and reward ratio.

You are right. Trading psychology is also important in live trading where trader face all kind of negative emotion.

LeviSievwright5
Oct 29 2020 at 01:24
298 posts
First, you have to do demo trading. In addition to demo trading, you need to do a lot of research on information and market conditions. Properly learn how to manage money and maintain risk rewards. As a new trader, if these strategies are followed properly, successful trading is possible.

Lorencecolling
Nov 20 2020 at 06:04
49 posts
You better start small. It is the only way that will save you from potential risks.

Alisson332
Dec 01 2020 at 07:29
23 posts
For any beginner, it is advised not to risk a big amount. You must start small. My first trade was with $5 only.

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