Do you really need that much to start?

in order to me, if any newcomer go through pips school 2-3 times including demo account , a small amount can be sufficient to kick off real trading.

Not just sufficient but also probably recommended, in my opinion. Don't invest big sums right away.

I think you should start as small as your broker, market, currency pair and overall situation allows and then just scale it to bigger levels while you see a working trend if all fine. Stop reading that articles anyway, read our forum better, it's quite big and have all the info needed

Really good advice, I think starting from a small account, is the best learning curve, education you can take when starting out.

I agree. Don't risk large sums if you're a newbie, you'll likely just lose money and a lot of confidence.

If you can take a small account say on 0.01 lots and build that account successfully, I believe you will go far. As in order to do that you must apply good Risk Management, patience, and be unemotional.

A small account is equally as good for the mindset, in the sense that a large account we fear losing the money, but on a small account we have to master the greed of trying to grow the account to quickly!

This advice does not apply to the newbies - too many details have to be taken into consideration to become successful so fast

Once a new trader has acquired the skills to use a broker/MT4 , and developed a trading style/edge whatever you choose to call it, this advice absolutely applies imo, practicing and mastering your skills on a micro account is an education in itself.
There is certainly no quick route to success being suggested to new traders by doing this, quite the opposite.

I agree, an actual micro account is possibly the best choice for a newbie.

according to me,
if any newcomer has 6 months demos experience
including a knowledge from pips school
, $500 is more appropriate to kick off a live account.

Fact of the matter is that almost everyone is going to be a losing trader when they start out, so it's best to start out with a small account to make sure your inevitable losses aren't going to destroy your life savings. Prove to yourself over a large sample size that your strategy is profitable, and then move onto a larger deposit if you think you can handle it.

If you can't grow a small account, you can't grow a big one. Be careful

I think there some variables that cause this question to have several "right" answers. For instance, are what are you investing in? The minimum sum for investing in bitcoin is actually 2 dollars. If we're talking stock market investment, the numbers obviously change. Even then, you should ask yourself what percent of your income is this supposed to fill? are you keeping your day job or do you mean to go in head-on and make all your living put of investments? It's really important that any investor answers these questions for themselves before spending one cent.

for scalpers which amount is more appropriate can anyone explain ?

One can scalp with any amount, depending on the lot, the leverage, what they can afford, what type of account they have, etc.

I'd suggest people to start small and compound their gains up.
It takes longer but also removes much of the stress.

OK Here's my 10 cents worth

I originally started trading CFDs back in 2014, first with a demo account, and then after a few months I opened a live account with £500. I traded that for about 6 months. I had no experience of trading other than reading some forums and watching some youtube vids..

I didn't blow the account but I found it was simply not possible (for me at least) to make any meaningful amount of money on such a small account. In the end after 6 months I had managed to build the account to around £600 but then had a losing streak and I came out about £70 down. I did however discover that I enjoyed trading!

Then decided to start another part time business (mobile disco) withdraw all my remaining £430 trading funds and and put it together some other savings into buying 2nd hand disco equipment instead, about £2K in total. I then played DJ for about 2 years and earned about £10K directly and about another £6K indirectly (spin off business)

Neither the trading or the mobile disco were my main income, they were part time. But the mobile disco was far more profitable than the trading!

After that I sold up and moved to Gran Canaria Spain mostly due to the political situation in the UK.

I went back to some demo trading in 2016, paid for a 3 month Forex mentoring course (which was a very good decision IMHO), and started trading part time on a £7K live account in 2017.

I was hoping to make about 20% per month - but all I could manage month on month was about 5%. So after about 3 months at around £350 profit per month I had earned about £1000. Then I came to a time when I needed more money (my other business I started here wasn't doing well enough) and I came under pressure to be more aggressive with my trading. That did not end well! In the 4th month I returned a 10% loss.

So fair enough I didn't blow the account, but I came to the decision it wasn't possible (again for me at least) to make a meaningful amount of money with the risk level I was comfortable to take on a £7000 account, and when I decided to 'push' things it didn't end well.

So I closed my £7000 account, this time with about £300 profit and put the money and my time into my other business

Wind on to 2019, business is going OK now and I am now back to trading part time on a demo account. I've spent more time looking very hard at my trading over the last couple of months. I have developed my own simple strategy, based on a lot of what I learned during mentoring, plus my own entry and exit criteria

This time it seems to be a bit more profitable when back tested. Also at the moment I'm placing about 8-10 trades a week, then at the weekend I sit and analyse every winning (and losing) trade to see if
1. I followed my own strategy correctly and
2. Can I learn anything from the trades to improve my results both in maximising profit and minimising losses. Then I tweak the strategy dependent on results of that analysis and see if I can do better the next week.

I'm now going back to part time live trading in about one month time, this time on a 25000 euro account.

Using the strategy currently I have, I should be able to earn around 1250 euro per month based on the 5% per month return I have proved i am able to manage at a risk I am comfortable with. Actually on the current strategy I am returning about 8% so could do a bit better if I can maintain that.

Few things I have learned on that journey so far

1. Find a good mentor and pay if you have to. One of the best decisions I made.
2. Have a repeatable strategy with set rules. If you don't have that then you can't really back test, or analyze and improve on your live results.
3. Having a fixed strategy removes the should I/should't I enter/close the trade dilemma. Your entry/exit condition occurs - you do it. That for me made a big difference to my results.
4. Contrary to what some people say on this thread , for me personally, on two prior live accounts, I couldn't make any sort of meaningful money even on a 7K account. I accept I am not a particularly good trader, I believe 10%-20% per month is quite doable. My mentor said that. For me with my risk level I struggle to do anywhere even near that. Having said that I had two live accounts so far and didn't even come close to blowing either of them! That does make me quite unusual.... apparently. Time will tell if a 25K euro account can make good returns for me but I now feel confident enough to try.

Richard

you have said about Forex Mentor , no way to deny the importance of Mentor , but the real problem is , most the mentor in online we found as a scam free or paid , so right now its a complicated to found good one to guide trading.

I can tell you which one I was tutored by but don't want to post that on this forum as it's just my personal experience and I never tried any others who could be just as good or better and/or cheaper.

All I can say is that I personally learned as lot and found the training very good. I did have to pay though.

I'll PM you.

no, it isn't.
You can start with 200 dollars and build up your account.

I'm not sure how well that would work TBH. If you are in the EU (or with EU broker) you are gonna have maximum 30:1 leverage due to ESMA rules, and I believe the US is maximum 50:1?

So to place 1 microlot you gonna need about 33 euors, dollars, whatever to open the position. And you get a margin call at 50% draw down I think. So even 1 microlot on a $200 account isn't going to give you much room to manouvre - and that's without even thinking about opening more than one position at a time!

I always open positions with a 0.5% capital risk and that seems a very common approach to money management. On a $200 account that would mean even with 1 microlot which is generally the minimum position you can trade the stop loss could only be 10 pips from my opening position otherwise I have to take more risk which doesn't seem a good idea on such a small account. My current strategy generally calls for stop loss around 20-30 pips so my lot size is automatically calculated by my stop loss position. Depending on volatility it could be more than 20-30 pips ..

I would guess that $1000 is the minimum that could reasonably be traded if you restrict yourself to 1 microlot at a time. But that's just based on my experience and my current strategy I guess. How are you guys getting around that risk problem to trade successfully on such small accounts? Maybe you are just better traders than me and I am here to learn :-)

When I was doing the mentoring course someone asked on one the live sessions 'What's the best way to generate a 5 figure sum from trading?' The answer was to start with a 5 figure sum.

Rich