Forex Amount

Landakus posted:
Try with a couple of thousand so you can insure yourself in case of anything, and you can make transactions with a minimum amount to get at least a little experience.

Basically, small amount is not the issue! When you have a good trading skill; then surely you’ll be a successful money maker end of the day; your knowledge is the powerhouse!

AmDiab posted:

Landakus posted:
Try with a couple of thousand so you can insure yourself in case of anything, and you can make transactions with a minimum amount to get at least a little experience.

Basically, small amount is not the issue! When you have a good trading skill; then surely you’ll be a successful money maker end of the day; your knowledge is the powerhouse!

I disagree with you.

A small account balance is not feasible for all trading strategies.

best starting capital is 0.
start with demo and learn how to trade and then go real and invest.
if you invest right now with 0 experience and knowledge - you will just fail as fast as it possible.
don't do that and I wish you smart moves.

AmDiab posted:

Landakus posted:
Try with a couple of thousand so you can insure yourself in case of anything, and you can make transactions with a minimum amount to get at least a little experience.

Basically, small amount is not the issue! When you have a good trading skill; then surely you’ll be a successful money maker end of the day; your knowledge is the powerhouse!

knowledge is the powerhouse, this is absolutely true, but you need capital ultimately to make more money.

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.    

For a beginner, a demo account is best.

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.

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

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?

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.

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?

Start small, but enough that can actually give your trading a thrust.

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.

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.

You better start small. It is the only way that will save you from potential risks.

Small amount is good start with but not so low as $5. put atleast $100 into it if you want some output.

Forex is a very vast and complex field. Spending 6 months on a demo account does not guarantee that you won’t have losses in the future. Regular practice and learning is quite important. When you for a long time you automatically understand your trading strategy and start to gain profit. As far as money is concerned, do trade with positive emotions because sometimes emotions interrupt your decision and you land with making losses. Initially start with a small amount and after getting experience increase the amount in order to make large profit.

VirgoG posted:
Small amount is good start with but not so low as $5. put atleast $100 into it if you want some output.

Agree! But if you are not that serious when it comes to forex trading, then it is better to deposit as low as you can. But if you want to make a good profitable return, then $100 seems viable option for that

VirgoG posted:
Small amount is good start with but not so low as $5. put atleast $100 into it if you want some output.

I agree. Though amount must be such that one can afford to lose, but not too small too that i can't obtain enough idea from trading it too.

Well, if you are thinking about micro accounts, a small amount as low as $5 would be okay but for a different account, you can go a little higher.