Forex trading minimum investment

You need to make some decisions before opening a live account, and do a bit of soul searching. The answers to these questions will determine how your trade campaign will operate for you. How much money do you have to put into a currency trading account?

But the amount is your decision. Just remember that it should be risk capital: What do you need for a FOREX grubstake? Many sources will tell you these numbers are high; you can trade those levels with a lot less capital.

If you either are willing to ride along the ragged edge -- or get very lucky early in the game. I would rather you did not do the former and do not count on the latter. Forget the advertisements you see; no one makes 2, pips a month -- at least not for many months. Such returns imply an extremely high level of exposure, sure to be the trader's undoing in due time if not jig time.

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Consider professional money managers, the best ones who have been trading 10, 20, 30 years. They are happy to make 15 to 20 percent consistently per annum.

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Fifty percent is a great year. But even the best have a bumpy road. No one makes money every month, every quarter, every year. The long term belongs to those who are not only skilled, but patient, determined, and are willing to sit on their hands much of the time. Plot your equity curve on a weekly basis for several months. It may be a useful diagnostic once you have some data to analyze.

As a trader, I have had as many as 16 consecutive winners. I have also had a dozen consecutive losers.

But the best answer is to manage the risk as well as you can, and let the market determine how much you make. You have to break even before you can make a profit. Market Commentary Market Data Getting Started Stocks Stock of the Day Market Movers Industries Sectors References ETFs Movers Families References Mutual Funds Movers Families References Investing Bonds Commodities Forex Currency Options Real Estate Economy Personal Finance Banking Budgeting Credit and Debt Financial Planning Insurance Taxes Retirement Educational Planning Personal Finance Guide Business Career Dispute Resolution Management Law Contracts English Glossary Spanish Glossary.

By Michael Duane Archer.

Michael Duane Archer has been an active futures and FOREX trader for more than 35 years. He has worked in various advisory capacities, notably as a commodity trading advisor, registered SEC investment advisor, and branch manager for Heinold of Hawaii. He currently trades FOREX and futures and is involved in several technical analysis research projects.

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