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How much money do I need to day trade Forex?

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Micaela Suter
367
Micaela Suter  

Every trader dreams of taking a small amount of capital and becoming a millionaire off of it

While profits can accumulate and compound over time

Realistically what is respectable performance?

Daniel Stein
31974
Daniel Stein  

Constantly 5-6% per month is a respectable performance.

If you leave the profits in your account it will grow very fast.

 

In the end your trading success depends on your personal mindset. 

Michael Maggi
1667
Michael Maggi  

The smaller your capital to start the harder it is to remain profitable over the long term.  The biggest problem is probably over-trading, stops that are too close to your entry price to give a realistic chance of making a profit, and picking a small group of CFDs or currency pairs so you focus on developing as a trader and not jumping from one thing to another.

I suggest you try to trade over a period of at least a couple of months on a DEMO account with a starting amount you are considering for your capital to start. If you start with 50,000 or 100,000 Demo Account balance then your trading is that much more unrealistic.  It ends up being bad training.

Good luck. 

Micaela Suter
367
Micaela Suter  
Thank you very much for the information you have given me I'll still in demo as long as possible
Maik Prothmann
523
Maik Prothmann  
I agree to Daniel, 5-8% is a good and achievable performance per month. Anything else ends up in overtrading or too risky strategies.
Mikhail Zhitnev
11832
Mikhail Zhitnev  
Each deposite will be blow away in any case, so it is better to do 10-20% profit per day and withdraw money every week.
Micaela Suter
367
Micaela Suter  
Someone told me

You can start with cent account that can be very useful foremost for Forex beginners since it allow trading with a real deposit. Trading like that you will become familiar with real deal that helps to understand the differences between demo and live trading.
Daniel Stein
31974
Daniel Stein  
Mikhail Zhitnev:
Each deposite will be blow away in any case, so it is better to do 10-20% profit per day and withdraw money every week.

Hahahahaha...

Thanks Mikhail, you made my day

 

@Micaela

Yes, that's right.

Mastering the the emotional and psychological challenges is the most important point at trading.

Stephen Neale
371
Stephen Neale  
How much money did you have in mind to start trading, some people's view of a small amount is large to other people and visa versa.
anurag bhargava
500
anurag bhargava  
Mikhail Zhitnev:
Each deposite will be blow away in any case, so it is better to do 10-20% profit per day and withdraw money every week.

perfect Mikhail,thats the best one to adopt.

Mohammad Soubra
30047
Mohammad Soubra  
Have your good EA that have tested for long time with higher modelling quality
12
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