One of the most interesting and important questions in your trading career – how much of the starting capital are you going to have a smooth and a very successful start?
And here we meet the first misconception about trading. You see, it seems that we all believe that in order to start trading you need A LOT OF MONEY. Like mountains of it. Millions and millions of dollars are to be put on the line for us to see even a cent of profits.
Well, at least that is what our moms think when we tell them about the markets.
the truth is that your initial starting amount is not limited to your initial deposit only. Starting forex includes a lot of fees and a lot of expenses. For example:
- educational materials;
- signing up for economic seminar;
- books on trading;
- better computer or another trading device;
- several trading accounts;
- trading signals.
Look at this points and imagine – we haven’t even started trading yet and we already have to pay for all this stuff!
BUT! And you might notice that that is a HUGE BUT – that is my subjective point of view. It is totally possible that you are going to think other way and that you are going to spread your money another way.
And that just like what amount to spend on your initial deposit is totally up to you.
So, I believe I have tricked you. Why?
Well, there is simply no answer to the question that we are trying to think over here.
There is no information and no rule – if you invest more than $1000 as you first deposit – you are going to be successful. No. that is simply does not work.
The truth of the markets is like this – your initial deposit doesn’t really matter. All that matters are your skill and your willingness to learn and work hard. Everything else is pretty much irrelevant.