How Much Money Do I Need to Trade Forex?

12

MAR,2018

How Much Money Do I Need to Trade Forex?

The answer to that question depends on the market you want to trade, also will you trade short term or long term? Will you rigidly based on the rules of system.

First of all, how much money do you need to start forex trading?

The information below will give you a basic idea of your options

If you want to day trade stocks, then you need at least $25,000 in your trading account.

If you want to day trade futures, then you should have between $5,000 and $10,000 in your trading account.

When trading options, you should have between $1,000 and $5,000 in your trading account. If you’re thinking about trading forex, then you can possible to start an account with a smaller amount, such as $500, but if doing so make a commitment to grow the account for at least a year before withdrawing any money. If you do this, and don’t risk more than 1% of your account on each trade, you can make about $10 per day to begin with, which over the course of a year will bring your account up to a few thousand dollars.

Financial considerations are always important, but don’t make the common mistake of letting your current financial situation dictate which market you’re going to trade.

Don’t Forget: you first define your goal, and then you plan how to achieve it.

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