now even if we assume you can trade profitably and you are trading with a decent risk to reward ratio, by risking 20 dollars on each trade, you stand to gain about 20 dollars on each trade (I’m assuming a 1:1 risk to reward ratio on trades) and if we count in the margin requirements, you probably wouldn’t want to have more than 5 positions open at the same time (unless you are okay with the possibility of losing all the money you have in a single trading day)
now even if we assume you can trade profitably and you are trading with a decent risk to reward ratio, by risking 20 dollars on each trade, you stand to gain about 20 dollars on each trade (I’m assuming a 1:1 risk to reward ratio on trades) and if we count in the margin requirements, you probably wouldn’t want to have more than 5 positions open at the same time (unless you are okay with the possibility of losing all the money you have in a single trading day)
I have lost so much money in forex trading over the years and I have decided to learn from my mistakes. I advise people to fund found their account with at least $1000 before they start trading in forex else they will lose all their money.
Okay, that's whopping amount of money. I think with such money i will find success in forex trading if he's an expert. Before it will go down at least one will record big profit that will cover all the amount lost previously.
When it comes to forex trading because there is such a small change in price over the course of a day and such small volatility as well it is necessary that you do a larger investment in order to be able to see your profits. However, as you have said you are quite new to forex trading and therefore it might be good to start off with a small investment. The profits that you will earn might be smaller at the beginning however the learning that you get from this will help you greatly in the future in your trading experience. Have you looked into or considered which platforms you would like to use in order to trade in Forex?
Well like you said, don't rush into it because its not good for a young person like u! And I will also suggest you study the market even before putting your money! I once heard an expert saying if u want to learn forex, don't learn it because of the money. Just know it as knowledge impacted with passion.
Never tried of trading but i want to, someday. Some of my friends are into trading, me i just keep backreading in our group chat to learn a lot before joining them. I know its a bit risky but i need to push my courage instinct.
