Before you start real trading, a trader needs to pass the preparatory stage. It includes a whole program of mastering the basics of trading. A novice trader should get at least a basic amount of theoretical knowledge and study all the functions of the trading terminal in as much detail as possible. After that it is necessary to create and test your own trading system. And if it shows good statistics on the demo account, we can move on to the next equally serious tasks. These include choosing a brokerage company and opening a real trading account. And at this stage, some newcomers to the market have a question about the size of the trading account. What minimum deposit on Forex is necessary to start making money? In this article you will find the answer and recommendations on the topic.
Account size
Beginning traders
there are two misconceptions about what a minimum forex deposit should be. Some of them…
and they think it’s gonna be enough to start with $100. Especially since a lot of people
brokers set such threshold for opening a trading account. In fact…
trading such a small amount of money carries with it great risks. Follow the rules
of management with such a deposit is extremely difficult. So in most cases.
a trading account with $100 will merge very quickly. And even in the event of a successful
the trade in earnings will be pretty low. Other misconception of beginner traders is that for trading on the foreign exchange market you need at least 10 thousand dollars. And as long as there’s no money, there’s no point in opening a real account. Of course, on the one hand, such a deposit expands the trader’s trading opportunities and allows him to earn $1-2 thousand per month with strict observance of the rules of risk reduction. But having at his disposal a considerable amount of money on deposit, a novice trader often begins to violate the terms of the strategy in order to increase earnings. And this will sooner or later lead to a loss of trading deposit. And there is a big difference between draining the deposit of $100 or $10,000, don’t you agree?Optimal size of the first
the deposit is the amount from 500 to 1000 dollars. It’s available to a lot of people
of novice traders. Such funds on the trading account will allow to conduct
full-fledged trading with compliance with MM and get good trading experience on
a real score. As the skill grows, the deposit can be replenished as
by own funds, as well as at the expense of the profit received from trading.If you trade with an Expert Advisor, the minimum deposit on the forex market will depend on which strategy the robot is trading on. If he uses a martingale, he will need more funds (at least $1000), because the Expert Advisor can open several orders.Fyodorov’s Inga18.03.2019