FAQ How Much Money Does a Trader Need To Start Trading?

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In my opinion, a trader doesn't need a lot of money because he/she doesn't know how to manage them. It's better to practice a the beginning and then the trader will know the amount of money necessary for trading.
 
Likes: Kaeso
What I like about the Forex is that the price of entrance is relatively low. With good brokers, analytics and trading signals at hand you can earn some money and cope with some losses (alas, they are inevitable). But of course to make large profits you should run substantial risks...
 

DavidKSawyer

Junior member
23 1
Though, you may make a few dollars a day which will grow your account over time. If you want an income from forex day trading, start with at least $1000, and preferably $3,000 to $5,000. This amount allows you to potentially start building a monthly income, which is what most day traders are after. It can help you to earn more.
 

NVP

Legendary member
36,168 1,761
for european brokers you will need a lot more entry capital now from july18 when the New ESMA rulings are implemented

30:1 for Forex and a lot less for other instruments

N
 

Kaeso

Established member
836 91
Though, you may make a few dollars a day which will grow your account over time. If you want an income from forex day trading, start with at least $1000, and preferably $3,000 to $5,000. This amount allows you to potentially start building a monthly income, which is what most day traders are after. It can help you to earn more.
I find $1500 is the perfect amount for generating monthly income.You can't go wrong with that amount in your forex day trading account :)
 

piphoe

Legendary member
10,038 194
a million dollars would probably work for me to trade ONE NASDAQ contract. i'm not to get scared out of the trade if it goes against me a few ticks or so, keep a level head keep thinking clearly. if down "few ticks" at end of the day, i'm not going "oh fk". tommorrow better be a good day.

thats how much would work really good for me :D
 

Kaeso

Established member
836 91
a million dollars would probably work for me to trade ONE NASDAQ contract. i'm not to get scared out of the trade if it goes against me a few ticks or so, keep a level head keep thinking clearly. if down "few ticks" at end of the day, i'm not going "oh fk". tommorrow better be a good day.

thats how much would work really good for me :D
You don't need to use a futures contract to trade the stock market. If you trade a position size that scares you, its your fault :)
 

DavidKSawyer

Junior member
23 1
For a good start, be sure to look out for account minimums at the brokerages you investigate. This number usually is set for a reason because it is in the brokerage's best interest to keep you trading for as long as possible to ensure that they continue to collect commissions. These minimums often are put into place to reduce the risk of you burning up your entire account in just a few trades, or even worse, getting a margin call. In the case of the latter, you would have to deposit more funds into your account in order to keep your current position open.
 
You can start trading with £200. But no matter how much money you have you cannot earn an income from it until you've mastered it. And it is the HARDEST thing you will ever try to master. Do not underestimate that fact. I had an astounding level of arrogance when I started out.

Once you're profitable I would shoot for 10% per month. I can do that in a week / sometimes a day. But its taken 3 years, and I pissed away thousands in my first two years.
 

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