You should start with an amount that you can afford to lose - see the initial deposit as your education fee. 

You also need to decide what you want to make. Say that you think you can make a gain of 25 pips per day. With a 10K lot that is 25USD. 

To keep your leverage at a decent level you would need 1K deposit for every 10K. So if you think 25USD gain per day then 1K is good. 

If you want to make 50 USD per day then 2k depost and so on.

Originally posted by Fx123

You should start with an amount that you can afford to lose - see the initial deposit as your education fee.  You also need to decide what you want to make. Say that you think you can make a gain of 25 pips per day. With a 10K lot that is 25USD.  To keep your leverage at a decent level you would need 1K deposit for every 10K. So if you think 25USD gain per day then 1K is good.  If you want to make 50 USD per day then 2k depost and so on.

Originally posted by Omar33

Hey guys,rookie question here! If you are a newbie and have limited knowledge,do you have to start with low deposit to test forex?

Share your experience!!

 

On my point of view after educating yourself about forex and  a demo account.The ideal amount will depends on how much can you afford to lose. .

hey guys, i want to open an account with a broker, but with only £1000 GBP would i be able to trade decent trades? (bearing in mind the 2% rule) becase the minimum amount to buy in a demo 0.01 which is a micro lot and it already equals 1000 of any given currency...

I assum the answer relates to which currency im looking to trade, is there any you guys can recommend if my base currency is GBP?

Thanks!

 

With lower deposit, there is no 2% rule as it is only for practice. If you r successfull, you can increase deposit, else you can withdraw or keep trading until you r successful

Originally posted by Sasha

With lower deposit, there is no 2% rule as it is only for practice. If you r successfull, you can increase deposit, else you can withdraw or keep trading until you r successful

 

Hope it helps! 
 

Originally posted by Gerski

On my point of view after educating yourself about forex and  a demo account.The ideal amount will depends on how much can you afford to lose. .

 

yeah.and consider it as your learning fee

Originally posted by rrayne20009

 

yeah.and consider it as your learning fee

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Originally posted by Noobtrader

 

Originally posted by rrayne20009

 

 

yeah.and consider it as your learning fee

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lol in other words dont put a month's salary as your initial deposit, you'll find it hard to eat and pay rent otherwise 

 

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Yeah because IMHO,you can't expect to gain right away and there is a greater chance you'll lose than to gain so yeah better start with a small account you can afford to lose.It will take time to be profitable in forex so don't put all your month salary on it or else you'll be borrowing money from someone else to cover your expenses