I agree, it's a big capital for a newbie. And how long do you trade already and how much you had on depo at the start? As for me, I started with $500
I think these amount already as sufficient capital to start, some broker offer cent account or micro account and for beginner I think useful and lower risk if compared use standart account
A good and nominal amount of $100 would be good for a newbie to startup trade. You could invest the remaining amount, which I guess you are having later on.
Yes, and for cent accounts even $100 would be ok. The aim is to learn, right? So, reallym why not to learn to work with money on little accs. It's a good way for newbies to feel money..
Many newbies start out with that much amount and later they could raise it as per their confidence. It all depends on you how much you need to get along in long run.
Yes! People start trading even with less money. It's not a problem if newbies are going to use leverage... The other question is HOW will they use it. Very few have working risk management...
That's why I consider trading on demo or cent accs the best ways to work out the risk management. Though, I started with demo and then went to live with no practicing on cent ones.
Yes I am also having cent account on certain broker, this is also as good option for trader to learn and practice in forex trading with low risk, and using low leverage also can prevent from over trading, I am use 1:50 leverage on forexmart
Agreed...! Demo is the best way to learn about each and every aspects of Forex Trading. Thus we need to have a good Demo Practice before entering the real trading.
Yes we can use demo account if still newbie or if we want to backtesting strategy with free of risk, but some trader said if demo account can't giving all environment in trading one included about psychology trading that only will obtained with real account