Forex is a currency exchange market that is gaining more and more popularity every year. The amount of the initial payment required to start trading may differ depending on specific goals and skills. As a rule, beginners start with a small investment of $ 5-10.
Instructions
Step 1
Currently, you can do without investing your own funds. The broker market is overflowing with companies that offer new users various bonuses after registering and opening an account. The amounts are small, but this is enough to understand the specifics of the market, get the first profit, and also make a decision on further investments.
Step 2
One dollar start-up capital allows you to trade with micro-volumes and cent accounts only. One point of income equals one cent on average. In this case, it is almost impossible to get significant profit. Some successful beginners are able to earn 20-30 cents daily, but this is rather the exception.
Step 3
If the initial payment is equal to 10 dollars, then you will still have to trade on cent accounts, but the earnings will be more tangible. Using aggressive strategies, you can achieve an increase in the initial investment of up to 50-80%, but these are risky techniques. On average, newbies earn about $ 1-2 per day on such deposits with a successful trade.
Step 4
More serious newbies start at $ 100. This is already a serious amount, which already requires serious skills to manage. One point of movement of the rate for the USD / EUR currency pair provides up to a dollar of profit. With proper trading, this can bring in about $ 5-8 per day. But this is where psychological skills come into play.
Step 5
Experienced traders claim that the larger the amount traded, the more mistakes are made. Thus, starting from $ 100, you can quickly raise and also quickly lower the earned amount. Psychological factors play a huge role. According to statistics, experienced traders with large trading volumes earn no more than 30% of the initial amount monthly.
Step 6
It is worth noting the presence of demo accounts, with the help of which beginners can trade on the exchange using virtual money. This allows you to gain the necessary experience in order to then apply it on real trading accounts. There are often contests among demo account holders where you can get real money, but there is considerable competition there.
Step 7
Thus, for start-up capital, it is better to deposit an amount that does not exceed $ 10. Better yet, practice on a bonus capital or demo account first. You need to increase the amount of daily trading only if you are trading in a plus every day. As soon as a streak of unsuccessful transactions has begun, the amount of funds in circulation must be reduced.
