What is the ideal amount of deposit a newbie has to start with?
Postagens: 47
Membro desde: 13/09/2013
Just start on amount you can afford to lose.You can't really expect that much that you can earn right away.Patience is needed in forex,so just use your initial deposit to gain knowledge and skill first.
Postagens: 6
Membro desde: 21/02/2014
Originally posted by Omar33Hey 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!!
From 9 years of Forex trading experience I always recommend that people start with 10% of the total amount of money they can trade. That's because about 90% of them will lose that money. Those who are serious about trading will learn the lessons about why they lost the money and will be prepared to trade the other 90%.
After losing the first 10% I always recommend that they still only trade another 10% until they can be consistently profitable by setting a realistic target (i.e. 20% returns). Once that happens then you can safely trade the rest of your money. If you can't become consistently profitable then what sense is there in trading it anyway?
I think having a detailed plan with goals to track your progress is vital to being a professional trader.
The best risk that can ever be taken is none at all.
Postagens: 31
Membro desde: 26/03/2012
I recommend not less than USD 10,000 .......................................................................... on demo account