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How much did you start with?

  • #1
  • First Post: Sep 2, 2008 2:36pm Sep 2, 2008 2:36pm
What do seasoned/professional recommend as the min to start forex trading?
What did you start with and what were your limits
  • #2
  • Sep 2, 2008 2:57pm Sep 2, 2008 2:57pm
Given that you are very likely to lose the lot before you figure out a consistently profitable strategy that works for you, I'd put the minimum you can get away with and use it on Oanda which allows very small bets. You could also demo on Oanda until you suss things out.
The market reveals who we really are...
  • #3
  • Sep 2, 2008 2:58pm Sep 2, 2008 2:58pm
well, you have to build yourself to a level whereby you know what you are doing before you think of investing in forex trading. Your first live trading could be made with a small investment, that which you can afford to loose so that you use that to learn the psychological aspect of trading which you must have not during demo trading. However, going real live for a trader who wants to earn a living from trading, investment should not be less than 1000-2000USD.
know thy edge and abide by it ! 4 in it shall thou be successful !
  • #4
  • Sep 2, 2008 3:54pm Sep 2, 2008 3:54pm
Well, when I went live, I started with a paltry $200.

Keep in mind however, that I lost an estimated 2.3 billion in demo trading over 3 years before I placed my first live trade.
  • #5
  • Sep 2, 2008 3:57pm Sep 2, 2008 3:57pm
Quoting con771
What do seasoned/professional recommend as the min to start forex trading?
What did you start with and what were your limits
How much you start with will depend largely upon your means and your goals. You could start with $10 at Oanda, but that amount will serve little more than allowing you to practice using a live account. If you are looking for trading to become your primary source of income and not just a hobby or supplemental revenue stream, then its my opinion that you will need at least $50,000 to $100,000 to began with. Depending on where you live, amount of debt you have, and the lifestyle you want, you could earn a modest living with that amount. Anything less than that will require you to overleverage your account and add additional pressure that will only work against you.
Visit my journal here.
  • #6
  • Sep 3, 2008 2:56am Sep 3, 2008 2:56am
started with $400, lost it all in 1 month. but i'm very happy i did, because i learned some lessons that you wouldn't be able to learn with demo-money:
-controlling your emotions
-money management
-sticking to your rules
-having a plan
Twitter: @forexpokerpro
  • #7
  • May 22, 2012 1:31pm May 22, 2012 1:31pm
... first OANDA - $3000

... then Interactive Brokers ... i keep a mixed account stocks/forex and started with $20,000 and added up to $87,000
  • #8
  • May 22, 2012 3:10pm May 22, 2012 3:10pm
My advice would be to start small, still starting with $200 should allow you to understand the market better. Make sure you maintain a trading journal so that you can analyze it and chalk out an effective strategy..
  • #9
  • May 22, 2012 3:15pm May 22, 2012 3:15pm
Best to start with 5 million so you can end up a millionnaire (1 million)
  • #10
  • May 22, 2012 3:29pm May 22, 2012 3:29pm
Started with 3K. Bought Greek banks in 2010. That account is now in something like 100 euro worth of stocks. Maybe after 10 years I will get that back.

500 Euros in my first account in forex. All lost by a martingale guy in zulutrade.

Another 500 Euros. Lost again on zulutrade from the top 10 martingale geniuses there.

My next account will be probably around 200 Euros managed exclusively by me. Richard Dennis went far with 400 bucks right?

More than 1000 worth in books and seminars.
  • #11
  • May 22, 2012 9:57pm May 22, 2012 9:57pm
Quoting con771
What do seasoned/professional recommend as the min to start forex trading?
What did you start with and what were your limits

Well for starters this is a bad question. Open a demo account, learn about leverage, lot sizes, and positioning. You will find your answer on your own after you learn to trade your style
Know when to hold em, Know when to fold em!
  • #12
  • May 23, 2012 2:20am May 23, 2012 2:20am
2000 usd

Then added as I gained confidence.
  • #13
  • May 23, 2012 6:13am May 23, 2012 6:13am
what's with the bump lol ?

omg, has it already been 5 years ? awwwwwwwwww how time flies...

Quoting BBPI_fxtrader
started with $400, lost it all in 1 month. but i'm very happy i did, because i learned some lessons that you wouldn't be able to learn with demo-money:
-controlling your emotions
-money management
-sticking to your rules
-having a plan
Twitter: @forexpokerpro
  • #14
  • May 23, 2012 7:54am May 23, 2012 7:54am
I started with $5,000 about 10 years ago, lost ½ of it then closed the account to learn what went wrong.

Started again and lost another 3 or 4 accounts over a 6 year period, the largest was too embarrassing to disclose publically.

I've traded for myself, for others or traded demo's continuously for the 10 years.

I'm not really proud of the fact that it took me so long to work this game out, but I did (I think).

I now risk 0.5% or less per trade and my rough target is 5% increase on equity per month. I manage OK at that and have little trouble gaining about 100 pips a day.
In the days of old when sailors were bold, and seldom if ever contented.
  • #15
  • May 23, 2012 9:08am May 23, 2012 9:08am
Start small and then grow it slowly
Trade what you see, not what you think.
  • #16
  • May 23, 2012 9:55am May 23, 2012 9:55am
Quoting Ronald Raygun
Well, when I went live, I started with a paltry $200.

Keep in mind however, that I lost an estimated 2.3 billion in demo trading over 3 years before I placed my first live trade.
thank God it was on demo only ) 2.3 billion man that loss could ruin a whole country
  • #17
  • May 29, 2012 4:19am May 29, 2012 4:19am
"A must for any beginner"
  • #18
  • May 30, 2012 12:58am May 30, 2012 12:58am
I started with $1000 then lost $400 in one week...
  • #19
  • May 30, 2012 5:33am May 30, 2012 5:33am
I stared this year with about 50 $ and use 0.01 lots but i lost all
  • #20
  • May 31, 2012 2:35am May 31, 2012 2:35am
Quoting Marcin_S
I stared this year with about 50 $ and use 0.01 lots but i lost all
it's a pity( are u trading again? or it was your first and last experience?
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