How much is it needed to start up trading with?

[Bigron]

The truth is most traders don't have the sufficient capitals and the bitter part is that most of them know that there's oppourtunities to leverage on big firms .
The story is gradually changing though.

This is what is holding a lot of people back in investing. Some people even have enough capital but are still skeptical on how the business would fund a future investment and whether the investment will be sustainable

 

[Ofonime6]

Its depend on the broker which you are trading with so I think that even if its $5 then you can start with if you dont have this money there are forums which you can post and gather this money and deposit to your broker hence start up your trade

 

[Genie01]

Its depend on the broker which you are trading with so I think that even if its $5 then you can start with if you dont have this money there are forums which you can post and gather this money and deposit to your broker hence start up your trade

The truth is, $5 is not enough to be profitable in forex trading. Your first trade might be a losing position and then boom account is already blown.
It is like going to a battle with a single bullet and expecting to win that battle

 

[Ofonime6]

@Genie01, I understand what you are talking about the said $5 is not enough but you can also leverage to increase your margine.

But back then for someone like me I start trading with just $2 in micro account but now things has change and dont expect to earn much with that amount

 

[UsmanAmoyo]

The truth is, $5 is not enough to be profitable in forex trading. Your first trade might be a losing position and then boom account is already blown.
It is like going to a battle with a single bullet and expecting to win that battle

I completely agree with you , it is always advisable to have a greater capital because it would strengthen your psychology by removing the tendency of placing unrealistic expectations on the market.

 

[Genie01]

I completely agree with you , it is always advisable to have a greater capital because it would strengthen your psychology by removing the tendency of placing unrealistic expectations on the market.

Even though it is great to startup with huge capitals.
It is advisable not to startup with something you can't afford to loose.
You must not borrow money just to have sufficient capital, it can be deadly.

 

[UsmanAmoyo]

Even though it is great to startup with huge capitals.
It is advisable not to startup with something you can't afford to loose.
You must not borrow money just to have sufficient capital, it can be deadly.

That's the whole truth, some people would just forget about the risk factor and just focus on how much they will make .
Investing what you can afford to lose is a great thing to do to your financial life.

 

[Chibson]

Indeed $100 is a little bit tiny to start up with. This is because you can't get anything significant if you are applying proper risk management .
It would be better to use $50 to get my forex fund's $5000 challenge account.
That way you would gain something from it.

I think starting forex trading with $100 is quite ok because as a beginner you do not need to deposit a lot of money to get started. You need to start small and after some period of time when your master the market you can continue pushing.

 

[Genie01]

I would always advice that the new traders should always aim to trade with a prop account, it would definitely teach them the professional way of trading and help them in the long run.

 

[Chibson]

I would always advice that the new traders should always aim to trade with a prop account, it would definitely teach them the professional way of trading and help them in the long run.

As a trader it is always important for you to practice because it will from practice that you will get a strategy that will make you money. A lot of people are always in a hurry and that's why they lose.

 

[Danny4cash]

I'm not sure but I think $10 should be enough to start trading. Actually, it's not advisable to start trading with small money because you could lose everything in a twinkle of an eye. The minimum amount I recommend is $100.

 

[UsmanAmoyo]

I would always advice that the new traders should always aim to trade with a prop account, it would definitely teach them the professional way of trading and help them in the long run.

Despite their strict set of rules one would get the opportunity to acquire and maintain the art of discipline.
I love the idea of prop account trading ,this is a must have for every beginner.

 

[Genie01]

Despite their strict set of rules one would get the opportunity to acquire and maintain the art of discipline.
I love the idea of prop account trading ,this is a must have for every beginner.

Yes indeed, discipline coupled with risk management is what is being incorporated in prop firm accounts.
And the truth is, every trader needs it in the long run.

 

[Immilash]

The truth is if you have a small trading account, theirs a high chances of you blowing it, that's why you are expected to have a good amount of money to trade with.

That's true, if you have a small trading account you definitely blow it, I'll advise you to deposit a good amount of money to trade with, starting with a small account is not a good idea.

 

[UsmanAmoyo]

Yes indeed, discipline coupled with risk management is what is being incorporated in prop firm accounts.
And the truth is, every trader needs it in the long run.

I partially agree with you, but what of those that already have enough capital to begin their journey?
Does that mean that they should as well enroll?

 

[Floura]

That's true, if you have a small trading account you definitely blow it, I'll advise you to deposit a good amount of money to trade with, starting with a small account is not a good idea.

That's true, I know of someone that deposited ten dollars on his trading account, he make huge profits, it doesn't matter if you it's a $5 trading account as far as you know what you are doing.

 

[Chibson]

That's true, I know of someone that deposited ten dollars on his trading account, he make huge profits, it doesn't matter if you it's a $5 trading account as far as you know what you are doing.

the amount of money you deposit in your account matters a lot. The reason is because you can determine the amount of profit or loss you can make. You should always deposit what you can afford to lose.

 

[Danny4cash]

The truth is, $5 is not enough to be profitable in forex trading. Your first trade might be a losing position and then boom account is already blown.
It is like going to a battle with a single bullet and expecting to win that battle

Yes, $5 is too small to start forex trading in my humble opinion. There's no guarantee that the first trial will bring profit. As a beginner, I you make lose with your first trial, the best thing is to find out where you made mistake and try to correct it.

 

[Floura]

the amount of money you deposit in your account matters a lot. The reason is because you can determine the amount of profit or loss you can make. You should always deposit what you can afford to lose.

That's true, if you are use to depositing the money that you cannot afford to lose you'll definitely hurt yourself, trading is not for everyone, is only for the strong.

 

[Chibson]

That's true, if you are use to depositing the money that you cannot afford to lose you'll definitely hurt yourself, trading is not for everyone, is only for the strong.

Probably, you can even develop emotional problems if you deposit the amount of money you cannot be able to lose. The reason is because it is very much possible for you to lose everything.