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How much money do you need to safely trade forex

  • #161
  • Sep 14, 2017 5:32pm Sep 14, 2017 5:32pm
Quoting Barrg1
It does not depend on how much you want to win. The amount depends on how much you are willing to lose. One thing I know for sure is that a deposit of less than 1000USD will only take up your time. Even if you win, it will be a cheap job and a lot of wasted nerves. You must first provide yourself with the opportunity to spend 10k USD on forex and do not experience any problems at the same time.

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  • #162
  • Edited 3:00pm Sep 15, 2017 8:21am | Edited 3:00pm
Tx Aussi for this highly entertaining thread, I had a good chuckle at some of the bizarre comments which will most certainly confuse Noobs even more.

For some more entertainment, have a look at Jacks Zero to $1Million Trading strategy where he starts with $50 and tries to make a million bucks - he is on "reset account" number 35 so that should tell you all you need to know http://winnersedgetrading.com/specia...illion-trading


From my experience, the "safe" amount is really meaningless - find an edge (this is actually the easy part, use some good testing software and test your strat until you absolutely sure you actually have an edge even when the market changes), then try it in demo for a few months to iron out the practical issues affecting your strat, for example the time allocated to trading, (is your strat expecting you to be awake for all alerts for example) and then when you start live, STICK to your trading plan and your MM rules even through your DD periods. Hey presto, you actually start making money!!

So what if you only make 2% on average a month, download a compounding lot calculator and you'll be very surprised how quickly you make serious money.

I wont wish you all luck, coz if you have a decent strat and you stick to your plan, you dont need luck, just patience and discipline.

Nic.
  • #163
  • Sep 15, 2017 10:27pm Sep 15, 2017 10:27pm
Quoting alandeserts4
It is totally dependent on the individual. It depends on the maximum amount you want to earn as a profit or the minimum amount which you can afford to lose.
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  • #164
  • Sep 16, 2017 9:52am Sep 16, 2017 9:52am
Quoting Aussi
{quote} its a simple question dont make it hard
Its not a simple question. are you married? single? have kids pay mortgage or live with parents?

You need a lot of money to trade in a way that you can consistently eke out a living out of trading. So if you have 10 grand, 20 grand? dont even think about trading full time for a living. Whatever your yearly expenses, multiple that by 2 and thats the min amount of dollar you need. If you spend 5 grand a month, then you need 5x12x2= $120,000 min in your bank to start think about trading.

My cred? I trade full time for a living.
Its all in the mind.
  • #165
  • Sep 16, 2017 6:34pm Sep 16, 2017 6:34pm
Quoting GunnerNic
Tx Aussi for this highly entertaining thread, I had a good chuckle at some of the bizarre comments which will most certainly confuse Noobs even more. For some more entertainment, have a look at Jacks Zero to $1Million Trading strategy where he starts with $50 and tries to make a million bucks - he is on "reset account" number 35 so that should tell you all you need to know http://winnersedgetrading.com/specia...illion-trading From my experience, the "safe" amount is really meaningless - find an edge (this...
your welcome mate and thanks for your comment
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  • #166
  • Sep 18, 2017 12:26am Sep 18, 2017 12:26am
Forex Trading doesn't needs money to safe guard it, it needs the knowledge and experience and skills to become successful in it and to safe guard your investments
  • #167
  • Sep 18, 2017 12:35am Sep 18, 2017 12:35am
Small accounts are meant to develop processes for success. Once you can master that, after 6 months of a proven track record, with low DD and decent monthly retuns, there are firms out there that will take notice and look to help fund a 6 figure account. It may take awhile to get to that point, but if you have limited funds and want to trade full time, this is the route, imho.

Good luck
  • #168
  • Sep 18, 2017 1:28am Sep 18, 2017 1:28am
I think we are on wrong trend,

The better question would be how much margin on should use,
What should be the stoploss be
What should be the tp, or rate of return should be.

rather than question like how much money we need, we probably should ask the above questions, and to answer the above ones please read the book of Van k Tharp "Market"
  • #169
  • Sep 18, 2017 1:31am Sep 18, 2017 1:31am
Quoting 5abi
{quote} Its not a simple question. are you married? single? have kids pay mortgage or live with parents? You need a lot of money to trade in a way that you can consistently eke out a living out of trading. So if you have 10 grand, 20 grand? dont even think about trading full time for a living. Whatever your yearly expenses, multiple that by 2 and thats the min amount of dollar you need. If you spend 5 grand a month, then you need 5x12x2= $120,000 min in your bank to start think about trading. My cred? I trade full time for a living.


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  • #170
  • Sep 18, 2017 1:32am Sep 18, 2017 1:32am
Quoting GunnerNic
Tx Aussi for this highly entertaining thread, I had a good chuckle at some of the bizarre comments which will most certainly confuse Noobs even more. For some more entertainment, have a look at Jacks Zero to $1Million Trading strategy where he starts with $50 and tries to make a million bucks - he is on "reset account" number 35 so that should tell you all you need to know http://winnersedgetrading.com/specia...illion-trading From my experience, the "safe" amount is really meaningless - find an edge (this...
thank you for your comment
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  • #171
  • Sep 18, 2017 2:11am Sep 18, 2017 2:11am
Quoting Xeniz
Define "safely"
not losing your shirt lol
  • #172
  • Sep 18, 2017 2:16am Sep 18, 2017 2:16am
Quoting Samer1970
{image}
26 % gross target percent return .. only if it were that eassy
  • #173
  • Sep 18, 2017 6:51pm Sep 18, 2017 6:51pm
Quoting GodfatherSam
Forex Trading doesn't needs money to safe guard it, it needs the knowledge and experience and skills to become successful in it and to safe guard your investments
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  • #174
  • Sep 19, 2017 10:42pm Sep 19, 2017 10:42pm
Attached File(s)
File Type: ex4 Color_Stochastic.ex4   5 KB | 306 downloads
Attached File(s)
File Type: mq4 Color_Stochastic.mq4   5 KB | 331 downloads
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  • #175
  • Sep 20, 2017 7:49pm Sep 20, 2017 7:49pm
play around with the stoch and change the settings to suit
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  • #176
  • Sep 20, 2017 8:24pm Sep 20, 2017 8:24pm
Quote
Start where you
Quote
are. Use what you have. Do what you can.
- Arthur Ashe

The market charges tuition, but is nice enough to let you set your own starting fee. Start with whatever amount you have and start paying tuition, but more importantly, start learning. There is no single or best method to trade - you have to learn your lessons and figure out what works for you.

My first account was funded with 30k. I wasn't trading forex back then - mostly grains (soybeans, corn, wheat). I didn't use it all for tuition, but a big chunk of it. Then I read an article by the late George Lane ('The Father of Stochastics.') and he said that although he could fund his account with 100k he would never trust a broker more than $5000 at any given time - and every week he would withdraw any profits above $5000. So... since reading that article I have never had more than 5k in any trading account. When I started trading forex I no longer had the high leverage demands and reduced the amount to $500 and to be honest at certain points I have even funded accounts with $100.

So - start where you are with what you have... accept that you MUST pay your tuition and fees, and enjoy the journey!
  • #177
  • Sep 22, 2017 2:27pm Sep 22, 2017 2:27pm
Quoting maflip
$50 at .01 lot and no more than 1 pair to trade. Also, if $50 blow up. Next attempt is a month after. There simple answer.
Dude, 1 month after? If I waited one month after each account I blew up, it would take me 20 years to learn to trade. Life is short, no time to waste!
Everyone can see the chart, but only a few can actually read it.
  • #178
  • Sep 22, 2017 5:24pm Sep 22, 2017 5:24pm
Quoting OnlineAddict
{quote} Dude, 1 month after? If I waited one month after each account I blew up, it would take me 20 years to learn to trade. Life is short, no time to waste!
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  • #179
  • Sep 23, 2017 12:43am Sep 23, 2017 12:43am
Safety is not ensured by money, you need to have certain skills and knowledge and experience to help us to the safety.
  • #180
  • Sep 24, 2017 7:22pm Sep 24, 2017 7:22pm
Quoting GodfatherSam
Safety is not ensured by money, you need to have certain skills and knowledge and experience to help us to the safety.

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