How do I know if I’m ready to trade live?
I’m new to forex trading and have been practicing on a demo account for the past two months. I’m starting to feel more confident and want to switch to a real account, maybe starting with around $1,000. What would be a realistic risk ratio or position size for that kind of capital?
What I can tell you is that when you plan, start on your monthly expectations. These must be realistic. From my experience, you can expect to make around 15%-30% with proper trading. Anything above is too much risk. $1000 is a very good amount to start with. This month I'm starting on $30 and I want to turn that into $6000 in 6 weeks, see how much risk I will be using, it's obscene. It's all about your risk manage, how much you trust your strategy, and your knowledge about and counteraction to your trading behaviour.
Good question. You’re ready to trade live when you can follow your plan without hesitation and your demo results show consistent discipline, not just profit. With $1,000, keep risk at 1% per trade (around $10). That means if your stop loss is 20 pips, trade size should be about 0.05 lots on most forex pairs. Start small, focus on execution, not gains. You can test all this easily on a Valetax demo first.