What money did you start Forex trading with?
- Thread starter dojo
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A new trader should start from demo (virtual money) account 
. Then proceed to very small real account (less than $100 or how much else you can easily afford to lose). Only after a long-term success with a small real account it's recommended to switch to big deposits. My real account was less than $100 when I first switched from demo.
. Then proceed to very small real account (less than $100 or how much else you can easily afford to lose). Only after a long-term success with a small real account it's recommended to switch to big deposits. My real account was less than $100 when I first switched from demo.
Here is my suggestion and what I would do if I had to start again knowing what I know. First off there is no need to even put a dime into the market until you have a good understanding of the market and a tried and true method that you are comfortable with and know what to expect of it. If I could do it all over again I would demo for 2-3yrs and become a good trader first(all the while saving money) then open a account with $5,000, and use mico lots and very small leverage til i was comfortable. I rushed things and ran in circles for 2yrs blowing small accounts out $200.00 bucks at a time. If I just slowed down and saved that money while becoming proficient for free I'd be able to buy a few more lots today. For me it gets very hard to be diciplined when im risking 5-10$ per trade and making 4-16$ per trade. I will alway over leverage, I had to start with an amount of money that meant something to me. Trading is no different than being a student surgeon, and our accounts are are paitents. There is no reason to kill your paitent.
From my point of view, small trading account is like a payment for learning. It's hard to learn discipline on a demo account, but with a small real account one will start thinking twice before opening a position.
I support this approach also, what ever works for the trader. I just like to stress the idea that newbies dont have to rush or risk any money til they are even very well experienced.
Yes, it's hard to disagree with you on that . I've jumped on a small real account when I barely understood the difference between buy stop and buy limit pending orders . Got myself punished by the market pretty fast.
. I've jumped on a small real account when I barely understood the difference between buy stop and buy limit pending orders . Got myself punished by the market pretty fast.Well this is really good question. I would also love to know the answer. Initial training and knowledge regarding forex is really must to know before you start investing money.
Hi,
i have started with 2 500 bucks .. but i think it is not important, how much money you will start with .. much more important is what that money means to you. (For millionaire is 20 000$ nothing, but for poor trader is 100$ a lot of money)
I started with 300USD and lost them in 1 month J Then I got really desperate and stopped trading for more then 3 months.
Started out with $400 and lost it all under an hour, and yea, that was before I even understood the basics of Fx trading. Heck, all newbies would have to fight the temptation to jump in with both feet and start off with a demo, learn the basics or do as the admin suggested - opt for the micro or mini accs.
I head that folks ought to begin trading with some serious cash, two hundred usd (the most i would be willing to spend) would not cut it. i would have an interest to examine what proportion cash you kicked off with. Did you begin with lots of too and were still able to build it?
A new trader should start from demo (virtual money) account
I agree with Enivid said above. For new trader, to start from demo account and small real account is a best choice. It can help you to avoid meaningless loss. I also started to trade forex 2 years ago. After a long term trading on demo account, I decided to switch from demo to real account. That time I met a big question, it was the minimum deposit in most brokers was very high, usually 200$. I cannot deposit this amount money to start forex trading. Then I decided to choose a broker which provides micro account. Through several days searching and investigation, I locked several brokers. After that I opened a demo account in every broker to test their service and trading platform. Finally I chose the Profiforex as my first forex broker and deposited the first 50$ to this account.
Guys, I think that you set some money apart for trading only from your salary. Me I have started with only $1000 and still on the way of profits. I totally agreed with Haley- a
initial training and knowledge regarding forex is really important before you start investing money. try the Demo accounts before starting..............
initial training and knowledge regarding forex is really important before you start investing money. try the Demo accounts before starting..............
I’ve started in 2010. I had many demo accounts with many forex brokers, like FOREX, FXCM, etc. My first real account was with Profiforex. It is because this broker provides the micro account to trader and minimum deposit is 1$.
2 years is a good time to get an idea of the Forex markets. As i can see that you have used many brokers and i agree with the facts that trading in the Lite Forex is better as the initial investments are less and the returns are more.
In the start their is a lot of learning that is required before any trader can start getting profits and that too on a consistent levels.
I started trading with like 100 i guess it was an extra money just to check the waters and I blew it as a newbie hahaha then started trading again after using demo for a while with another 100 and been earning some extra since then
hahaha then started trading again after using demo for a while with another 100 and been earning some extra since then A new trader should start from demo (virtual money) account
I totally agree. I always believe that getting a demo account would really test and improve trading skills. Demo accounts uses virtual money and it's won't hurt even if you lost. Then I had like a hundred or less. Again, not much hurt to lose a hundred. But it's worth the learning. Trading is a continuous learning process, because always, there's ups and downs. Up to this moment, I have more than 100 account and still counting.
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