When you say afford i think a lot of people will be confused as to how to work this out, i just want to add Forex is not mean't as a way to earn quick money. The best way to work out how much you can afford is take a month's salary minus all your fixed expenses e.g. food, rent, phone bill and travel expenses. From whats left deduct about 50% for anything that may come up i.e. going out with friends and the remainning sum is theoretically how much you can afford! :) 

If its a tiny amount then do what i'm doing and save that amount somewhere so it can accumilate on a monthly basis into a larger sum as an initial deposit later on rather than spending it on something you dont need (even if that item would look soooo good in your possession) :P

hope it helps! 

I think that A41010 meant that if you lose it - nothing in your life will change. NOTHING.

and if i may suggest that you take it step by step.

Like... if you had $100....trade with them... with time you get a profit, say, $100 more. You just divide it in two. AND trade on a different pair, using a totally different strategy! Then, even if you lose the first part of the budget, the second one remains and might even profit from the loss.

This way you secure you money.

Hope it helps! Good luck! =)

Originally posted by Aseel88

I think that A41010 meant that if you lose it - nothing in your life will change. NOTHING.

and if i may suggest that you take it step by step.

Like... if you had $100....trade with them... with time you get a profit, say, $100 more. You just divide it in two. AND trade on a different pair, using a totally different strategy! Then, even if you lose the first part of the budget, the second one remains and might even profit from the loss.

This way you secure you money.

 

Hope it helps! Good luck! =)

 

Thank you for sharing this Aseel88. may i ask what forex pairs do you trade???

Originally posted by Noobtrader

When you say afford i think a lot of people will be confused as to how to work this out, i just want to add Forex is not mean't as a way to earn quick money. The best way to work out how much you can afford is take a month's salary minus all your fixed expenses e.g. food, rent, phone bill and travel expenses. From whats left deduct about 50% for anything that may come up i.e. going out with friends and the remainning sum is theoretically how much you can afford! :) 

If its a tiny amount then do what i'm doing and save that amount somewhere so it can accumilate on a monthly basis into a larger sum as an initial deposit later on rather than spending it on something you dont need (even if that item would look soooo good in your possession) :P

hope it helps! 

 

Seen this topic at the other thread but anyway that is a sound advice of yours.You just can't afford to put all your month salary in your initial deposit unless you already settled all your monthly needs.Forex is very risky and definitely not a quick-rich biznez.You need to invest not only money but time for learning.

Originally posted by A41010

Once you have started trading with a real account, you should ask yourself a question::: What is the exact amount of money that I can give up????

Forex is very tempting and might end you up by putting all your savings on the line.

What do you think guys?!?!

Share your thoughts

 

When entering forex one must really asess himself on how much money could he really afford to loss since the probability of lossing is present especially for newbies.And that amount i believe would be the perfect amount that he can start to use in trading.Yes forex is very risky and tempting it is one reason why forex is compared as gambling thats why we rather not use our savings in trading otherwise we might be ending us no savings at all.

Originally posted by A41010

Once you have started trading with a real account, you should ask yourself a question::: What is the exact amount of money that I can give up????

Forex is very tempting and might end you up by putting all your savings on the line.

What do you think guys?!?!

Share your thoughts

 

I might bet half of my trading funds which is 50 USD. I think it would be enough for a new trader like me.