The amount of capital for Forex trading
To be able to make money, you need money too, that’s what business is called. Everyone knows that, but how much money or capital is needed to be able to run this business successfully?
The answer is depending on how much you want to start benefiting from this business.
The first thing to consider is how you will get knowledge about forex trading.
There are so many ways to learn forex trading including trading classes, having a mentor, or joining seminars on forex trading.
If you take a forex trading course in private or class room then at least you will pay a lot of money for this. Depending on the organizer, it could be several million or even tens of millions.
Some of the benefits that you can get is that you don’t need to spend a lot of time learning forex trading so that you will jump into this business more quickly.
If you don’t want to spend a lot of money learning forex trading and financial markets, you have to spend a lot of time studying it. You can learn a lot from the internet because on the internet a lot of subject matter about forex business including website learning forex4live.com or it could be from several books with the author is an experienced practitioner.
The more you learn and focus on the forex market and some trading strategies, then it is certain that your ability to print profits will increase.
The second thing is most likely you will need some additional tools, signals, or news related to factors that can affect financial markets.
To get this usually can be done through forex brokers that we choose but most of them are unable to produce a qualified “Buy” or “Sell” decision signal so that we can get it from other parties who really focus on discussing it.
You do not need to worry about the costs because if you can get additional tools, news, or good signals, your chances of getting a profit will get even greater.
And the last thing you need is capital to run a forex trading business, of course!
It is important to note that all businesses must contain risks, one of which is the loss of the forex trading business, and the thing we need to do is to survive by risk management so that we have a longer time to print profits in this business.
Okay, now is the time I personally answer the question about how much capital is needed to run a forex trading business?
Honestly it’s very hard to say it but I have to say it. To run forex trading, it requires capital of $ 10K up to $ 50K. If you want to be able to last longer in this business and get the benefits that you can use for your daily living needs ( Trading for Living ).
Although there are so many brokers that offer an account with a minimum deposit of $ 1 but for me it is impossible to get the kickback in this business.
Let alone profit, to hold the account so as not to get a margin call, it is difficult for the capital of $ 1.
But if you want to study first then you can start with a capital of $ 100 and of course you have to do risk management and volume in forex trading, do not over-trade alias over volume .
But in the end, it’s up to you how much capital you want to use to run this business.
Remember the saying! If you are not serious about running a business, don’t expect much for the benefits.