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

[mpups]

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

 

[NVP]

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

How much will,that generate monthly K ?

N

 

[mpups]

How much will,that generate monthly K ?

N

i was just joking mate, its an arbitrary amount. Have a good day

 

[NVendetti]

The most expensive part of trading isn't in dollars.. it's in patience. Make sure you stock up on it!

 

[piphoe]

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

 

[mpups]

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

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

 

[CSETrader]

It is not about money, it is about education and experience you need to acquire in order to be steady, profitable on your simulator first.

 

[DavidKSawyer]

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.

 

[divyanshisharma]

With 15k you can make a decent start, But you are fulltime trader then you can at least invest 50000 to trade proficiently.

 

[reach4thelasers]

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.

 

[DavidKSawyer]

Obviously you won't win each exchange, however in the event that you win 3 out of 5, you've made yourself $125 for the day. Some days you make more, and some days you make less. So with a $5000 account you can begin to make a better than average stream of every day wage. On the off chance that you enable the record to develop to $10,000 you can make generally $250 every day.

 

[NVP]

just remember the odds and probability ratios

even with a 70-80% win rate the chances of long runs of losers are still quite high ......

 

[Bormondo]

Everything depends upon how much you want to earn. More money you want to earn, more money you have to invest. But don't forget that it's forex, and you can easily lose everything)

 

[Smurai]

as per my opinion one should start trading with a small capital, investing a huge capital in initial days is not a wise decision.

 

[johnnykalsi]

SHORT ANSWER

This question gets asked a lot and the answers posted on the forums like T2W vary from zero at one extreme, to well in excess of £50,000 at the other. Both answers could be correct – depending upon your personality, circumstances, trading strategies and objectives.

The good news
You don’t need any money at all to paper trade! Many people argue that paper trading is useless as it doesn’t take account of the thoughts, fears, palpitations in your chest and knots in your tummy that you may experience when real money is at stake. This is very true; however, if you can’t make paper money using a simulated trading platform, you almost certainly won’t make any real money on a live platform either. Paper trading is free and it is the ideal place for a newbie to start.

The even better news
Many spread betting companies will offer you a ‘golden hello’ and credit your account with £££s or match your opening deposit up to a certain limit. Hence, it’s entirely possible to start trading real money without using a single cent of your own!

But, don’t get carried away!
It’s very quick, simple and cheap for new traders to start trading the markets. The barrier to entry is so low that it’s virtually nonexistent. On the other hand, the barrier to success is very high indeed. Pipe dreams of turning a £100 opening credit courtesy of your spread betting company into a full time income are just that – a pipe dream. In theory it’s possible; in practice it just doesn’t happen. The Long Answer explores in greater depth some of the account types available and the size of account required to make a full time living from trading.

Thanks

 

[marcela 2020]

Some Forex brokers will allow you to start trading with as little as $ 1, you will need to deposit at least $ 12 with a broker that offers nano lots or $ 120 with a broker that offers micro lots to be able to trade safely during the day. The amount of money you need to start will depend on your broker.

 

[Dreamer8]

as per my opinion one should start trading with a small capital, investing a huge capital in initial days is not a wise decision.

Yes, I agree! Even though every trader has his/her own goals and motives as far as trading is concerened, but starting with low capital is always less riskier.

 

[Beast45]

Yes, I agree! Even though every trader has his/her own goals and motives as far as trading is concerened, but starting with low capital is always less riskier.

I am on the same point of view. Best way to manage risk in the start

 

[tradingout]

I agree with you. There is no fixed amount to how much you can start, but you should be able to feel confident enough to trust your ability to put such amount into trading.

 

[PaulyZ]

No amount is fixed to start, but begin a little low. That's always helpful.

I agree. Starting with small amount is good.