How Much Money Does a Trader Need To Start Trading?

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Old May 22, 2013, 7:04pm   #76
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Re: How Much Money Does a Trader Need To Start Trading?

My opinion after three years of trading experience is that its the trading system which is more important than the amount of money which should be deposited to trade in the forex market.
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Old May 22, 2013, 11:07pm   #77
 
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Re: How Much Money Does a Trader Need To Start Trading?

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Originally Posted by Babyblush View Post
My opinion after three years of trading experience is that its the trading system which is more important than the amount of money which should be deposited to trade in the forex market.
bloody great answer!!! You can start with £100 or you could start with £10,000 you will lose it or return on it. When I knew I had a system worth trading, I put down £300 and I'll be damned if I've ever topped it up since.
£300 was at the time, my maximum drawdown. I knew I would have been doing something wrong had I lost it. I didn't.

Of course I've blown a couple of accounts, but that was when I didn't have a system..not so now.
Sound advice Babyblush
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Old May 24, 2013, 1:40am   #78
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Re: How Much Money Does a Trader Need To Start Trading?

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My opinion after three years of trading experience is that its the trading system which is more important than the amount of money which should be deposited to trade in the forex market.
I don't think so. The more money you have, the more you can diversify, the more losses you can take without abandoning your trading.

More money means a greater staying power. A good trading system is a must, but systems fail, that's why you need a good cushion.
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Old May 24, 2013, 1:56am   #79
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Re: How Much Money Does a Trader Need To Start Trading?

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I don't think so. The more money you have, the more you can diversify, the more losses you can take without abandoning your trading.

More money means a greater staying power. A good trading system is a must, but systems fail, that's why you need a good cushion.
True. But having all that money can inevitably lead to taking greater risks and therefore losing (or winning) more. And that's the biggest point I think, winning small or big, losing small or big it's all relevant. Being level headed about your trading is what matters. A win is a win, a lose is a lose regardless of the amount.
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Old May 25, 2013, 12:44am   #80
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Re: How Much Money Does a Trader Need To Start Trading?

How much? For starters, not less than 5 grand and you need to be prepared to lose it all without affecting your lifestyle. Otherwise, don't even think about it.

But I agree, more is better.
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Old May 25, 2013, 11:12am   #81
 
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Re: How Much Money Does a Trader Need To Start Trading?

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Originally Posted by brettly View Post
True. But having all that money can inevitably lead to taking greater risks and therefore losing (or winning) more. And that's the biggest point I think, winning small or big, losing small or big it's all relevant. Being level headed about your trading is what matters. A win is a win, a lose is a lose regardless of the amount.
work on your drawdown, know what that amount is and size accordingly. If you can trade 300 and turn that around, you can trade higher amounts. if you cant, then that cushion you talk of, will likely just be stuffing. Anyone who says you need 5k im sorry but that's just wrong.
If you can trade 300, then that will multiply. of course you wont be able to live off it, but it will save you many thousands if that system of yours was wrong.
when you know you can, then you can add. Try to use the strategy to make the money, trade off the broker and you will likely never touch that initial capital of yours.
It worked for me, so thats the only reason why i say this. Give it a try brettly.
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Old Jun 22, 2013, 7:44am   #82
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Re: How Much Money Does a Trader Need To Start Trading?

The start up cost is relatively low in the forex trading business and thus anyone can get started with few hundreds and earn good income provided they have some realistic targets which can be reached easily.
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Old Jun 22, 2013, 8:32am   #83
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Re: How Much Money Does a Trader Need To Start Trading?

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The start up cost is relatively low in the forex trading business and thus anyone can get started with few hundreds and earn good income provided they have some realistic targets which can be reached easily.
Your last line is where most fail. The possible profits are so tempting that novice traders are inclined to go for them, instead of taking more modest amounts.
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Old Jun 25, 2013, 2:10pm   #84
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Re: How Much Money Does a Trader Need To Start Trading?

Most traders can end up as millionaires if they start right and correctly capitalised. All they need to do this is start with a billion, and don't trade for too long.
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Old Jun 26, 2013, 2:23am   #85
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Re: How Much Money Does a Trader Need To Start Trading?

$500 is a good start for new traders . They should check their skills with this money either they can manage this or not. If they do well in trading they should invest a good amount to get good profits. Low amount do not supports to get smart income.
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Old Sep 2, 2013, 5:45pm   #86
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I think it depends on the individual and the amount of money they wish to risk. Normally firms have financial criteria that clients have to meet before trading.
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Old Oct 31, 2013, 6:33am   #87
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I will first trade with bonus money which broker gives. Sort out the forex brokers like Greenvautl Fx's We Deposti You Trade bonus offer which was introduced some time back. This kind of offers surely benefit beginners like us. So, no investment is actually required for trading first time. It is better that way.
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Old Nov 1, 2013, 8:09am   #88
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I open my first account in ******** with $10. It's a micro-account. And I think if you want to earn some profit for spending for your personal needs. $500 or higher is better.
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Old Nov 1, 2013, 8:19am   #89
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Agree. If you think about the risk .5-1.5% per trade. $1000 seems to be a great starting point. ie 5-15$.
With multiple trades more equity is obviously a better thing.
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Old Nov 3, 2013, 5:16pm   #90
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Another great thread, so as far as account size goes we only have to put up an amount to cover our max potential draw down, cover margins in the max number of possible trades we would take given our money management rules on total exposure?, and have our "actuall max account",earning interest instead of sat there doing nothing.

Last edited by Shadowman540; Nov 3, 2013 at 5:49pm. Reason: Didn't read well
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