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How much money do you need to safely trade forex

  • #61
  • Aug 20, 2017 11:12pm Aug 20, 2017 11:12pm
Quoting Copernicus
{quote} Not to put a dampener on things but I will lay out a hypothetical in Australian Dollars assuming you are trading for a long-term living and assuming you are a successful performer with realistic expectations and sound risk management. {image} Notes: 1. Long term returns adopt the average adjusted Net CAGR of CTA's since 2000. 2. Dependence of alternative sources of income (eg. spouse) for livelihood not included 3. Assumes mortgage on principal place of residence held 4. Assumes family of 4 5. Assumes no substantial capital growth Of course...
hi mate , i do have a large account which as come the hard way , but after you get their its a accomplishment , i was on demo for a number of years before i opened a account , looking back on my accounts the first year and second year was learning the hard way , after the second year i learnt and learnt and i kept the account growing with profit , i held the urge not to get greedy , that is the mistake a lot of traders make , now i have a large account getting rid of a losing trade is easier , i started with $500.00 and had my ups and downs making same mistakes over and over i did stop trading for a while after i got sick it gave me a lot of thinking and learning being in hospital , after six mths i restarted trading again and then i had learnt not to be afraid of leaving a trade or getting out thats when i started to understand the charts , news times , trend and so on i over the next six mths i was in 5 figs and offfffffff i went to where i am now , i am now 66 retired and keep my hand in 5 days a week when i am not out prospecting
just a little incite kindest regards from dave
people leave, but this thread will go on for ever
  • #62
  • Aug 20, 2017 11:13pm Aug 20, 2017 11:13pm
Quoting Anusragger
{image}
safely?
Attached Image
  • #63
  • Aug 20, 2017 11:21pm Aug 20, 2017 11:21pm
Quoting Aussi
{quote} hi mate , i do have a large account which as come the hard way , but after you get their its a accomplishment , i was on demo for a number of years before i opened a account , looking back on my accounts the first year and second year was learning the hard way , after the second year i learnt and learnt and i kept the account growing with profit , i held the urge not to get greedy , that is the mistake a lot of traders make , now i have a large account getting rid of a losing trade is easier , i started with $500.00 and had my ups and downs...
Great stuff Dave. It is a tough game....not least because of the variation of returns. In terms of reliable cashflow......well let's not go there. Even the $800,000 minimum capital requirement (which was after a back-of -the-envelope calc).....is probably a bit optimistic......and worse still is that you need to get to a trading standard comparable with the pro's to maintain that capital base.

I personally feel that unless you are approaching or in retirement with a large capital buffer or just a cashed up one of the lucky few...it is probably a game left best to supplementing (or most likely detracting) a primary reliable income source....or a game where you invest small amounts and diversify them about with professional fund managers with a track record?

Cheers

C
  • #64
  • Aug 20, 2017 11:51pm Aug 20, 2017 11:51pm
Quoting Aussi
{image}
$10. You can trade with Oanda for 1/100 of a penny per pip
  • #65
  • Edited 1:03am Aug 21, 2017 12:45am | Edited 1:03am
Quoting IPMan
{quote} Really? At least I've experienced those things {quote} Is it you or me? your answer about this thread are bullshit and non-sense. I offend your trash signature which talk about stop hunt.
I guess you have never traded the London Open? It is very common to see them activate the pending orders in one direction, then reverse to activate the other direction while hitting the stops from the first spike. Occasionally it will even spike again to catch the stops from the second spike. What did you think all those whipsaw spikes were doing? There is a strategy called the London Open where people straddle the open, so the market makers like to wipe them out sometimes.

For an example, here is Friday's stop hunt. The big pin bar that occurs later was news related, EUR Current Account, so ignore that one. Hope you have learned something.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDproM15.png Size: 80 KB
You cannot be extraordinary by being normal
  • #66
  • Aug 21, 2017 12:56am Aug 21, 2017 12:56am
As much as you perceive what is safe. Don't listen to any of these bullsh!tters.
  • #67
  • Aug 21, 2017 1:05am Aug 21, 2017 1:05am
Money doesn't make you successful in Forex. A consistent trading method does. If you have that, then your money is probably safe.
You cannot be extraordinary by being normal
  • #68
  • Aug 21, 2017 1:05am Aug 21, 2017 1:05am
Quoting Anusragger
As much as you perceive what is safe. Don't listen to any of these bullsh!tters.
Attached Image
people leave, but this thread will go on for ever
  • #69
  • Aug 21, 2017 2:43am Aug 21, 2017 2:43am
Quoting dkrock
{quote} I guess you have never traded the London Open? It is very common to see them activate the pending orders in one direction, then reverse to activate the other direction while hitting the stops from the first spike. Occasionally it will even spike again to catch the stops from the second spike. What did you think all those whipsaw spikes were doing? There is a strategy called the London Open where people straddle the open, so the market makers like to wipe them out sometimes. For an example, here is Friday's stop hunt. The big pin bar that...
I've traded hundreds of them, what you call as "spikes" "stop-hunt" for me are not a problem now. I'm done with all "price action" bullshits and use my own method, wave structure can show me when I'm wrong and not like PA which show too much biases. At least for me, that doesn't mean it suits with your understanding.

Anyway this is "How much money" thread and I've told my answer: 10$ in cent account are fine as long as you know how to trade it.
  • #70
  • Edited 3:34am Aug 21, 2017 2:59am | Edited 3:34am
Quoting IPMan
{quote} I've traded hundreds of them, what you call as "spikes" "stop-hunt" for me are not a problem now. I'm done with all "price action" bullshits and use my own method, wave structure can show me when I'm wrong and not like PA which show too much biases. At least for me, that doesn't mean it suits with your understanding. Anyway this is "How much money" thread and I've told my answer: 10$ in cent account are fine as long as you know how to trade it.
That's awesome for you that you can avoid all the market manipulation. Was simply explaining stop hunts occur and showing you an example. Here is another one from last week. Good Luck.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDproM15 2.png Size: 70 KB
You cannot be extraordinary by being normal
  • #71
  • Aug 21, 2017 3:52am Aug 21, 2017 3:52am
i think $5,000 to $10,000 will be the safest for me. And also proper MM should be applied to ensure you have alot of pip allowance for your capital
Le$$ I$ More
  • #72
  • Aug 21, 2017 4:19am Aug 21, 2017 4:19am
It all depends on the individuals risk appetite. and what money management plan you are using. whats safe for me may not be safe for you


SG
the more you know the less you need.
  • #73
  • Aug 21, 2017 4:55am Aug 21, 2017 4:55am
Quoting Aussi
{quote} hi mate , i do have a large account which as come the hard way , but after you get their its a accomplishment , i was on demo for a number of years before i opened a account , looking back on my accounts the first year and second year was learning the hard way , after the second year i learnt and learnt and i kept the account growing with profit , i held the urge not to get greedy , that is the mistake a lot of traders make , now i have a large account getting rid of a losing trade is easier , i started with $500.00 and had my ups and downs...
Hi Aussi,

Thx for your valuable input.
I seem to being following your path, but nevertheless i still need to cross the last issue.


Take care.
  • #74
  • Aug 21, 2017 5:47am Aug 21, 2017 5:47am
Quoting Helee
{quote} Hi Aussi, Thx for your valuable input. I seem to being following your path, but nevertheless i still need to cross the last issue. Take care.
as all ways keep account safe longer term it gets rewarded when learning
people leave, but this thread will go on for ever
  • #75
  • Aug 21, 2017 6:23am Aug 21, 2017 6:23am
How much money to safely trade is going to vary greatly from person to person. Depends on your current net worth and financial obligations. 50k might be safe to somebody that is better off, but too risky to someone who is less fortunate.
  • #76
  • Aug 21, 2017 6:41am Aug 21, 2017 6:41am
100 k must enough to safe trade.

Although "safe" is a relative term.
  • #77
  • Edited 7:03am Aug 21, 2017 6:48am | Edited 7:03am
I believe it is not important how much money you need to have to safely trade forex. the important thing is your long-term trading plan. even if you have 100 USD, you can safely trade and increase the equity in long-term
  • #78
  • Aug 21, 2017 7:17am Aug 21, 2017 7:17am
safely is determined by your strategy and money management.
100% KENYAN.
  • #79
  • Aug 21, 2017 8:22pm Aug 21, 2017 8:22pm
$75-100,000 And trading with no more than 4 or 5 to 1 margin. and even less when markets are popping. And never risking more than 2% on one trade. And many many breaks and walks or something to clear your mind.
Thanks I do this often.
  • #80
  • Aug 21, 2017 8:49pm Aug 21, 2017 8:49pm
I have never seen anyone make it with less than $50k. That number seems to be the minimum that I have seen people lift off from, anything less resulted in 100% loss most of the time. I don't know why it is. Also for some reason the money you make from trading a $50k account appears to lift off at a more meaningful rate than anything smaller as well. It is not linear. ( I am tralking exponentially more than just the difference in the size of the trade you can take)
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