Account size to trade full time?

Messages
85
What account size do you consider appropriate to be a full time trader on?

Obviously personal factors influence the monthly income you would need, but beyond that what size cushion would you give yourself for the leaner periods in trading?
 

fxoday

Recruit
Messages
471
I think one advantage forex is flexible time, in my opinion, better keep the main job and don't leaving the main job only for forex trading, in addition, we don't have sufficient backup for daily necessity, many traders want to become full-time trader and thinking how to get it, but actually, we can make money even an hour spent time for trading and not disturb the main job, regarding the question account size, I think at least use the standard account or ECN account
 
Messages
191
It all depends on your goal each month. I think once experienced you can quite easily make 5-10% a month so go on the low number of 5% and you're in the UK wage being 2000 a month you're looking about 40K worst case scenario
 

nahiyar

Private, 1st Class
Messages
880
Depends totally on your experience you gain on demo account and spend time in trading if you want to make 5% profit you should invest a handsome amount and trade full time for trading. Full time trading is more profitable than part time because one can avail any good move in market by using full time. for less percentage of profit you can invest $500 or more it will be a safe way of trading.
 

Pharaoh

Colonel
Messages
20,046
It all depends on your goal each month. I think once experienced you can quite easily make 5-10% a month so go on the low number of 5% and you're in the UK wage being 2000 a month you're looking about 40K worst case scenario

No one easily makes 5-10% every month. Even at 5% and uncompounded, that's 60% per year. Compounded, it's almost 80% per year. If it was that easy, where are all he forex trading millionaires and billionaires? The only place I see those are in advertisements for very questionable forex products.
 
Messages
110
I think you should base your calculations on your own past trading results. See how much profit you make over the course of a year, how much money you need to make a living, and count the capital needed based on that.
 
Messages
85
I think one advantage forex is flexible time, in my opinion, better keep the main job and don't leaving the main job only for forex trading, in addition, we don't have sufficient backup for daily necessity, many traders want to become full-time trader and thinking how to get it, but actually, we can make money even an hour spent time for trading and not disturb the main job, regarding the question account size, I think at least use the standard account or ECN account
So Forex trading would not be something you would consider making your full time income?
 
Messages
85
It all depends on your goal each month. I think once experienced you can quite easily make 5-10% a month so go on the low number of 5% and you're in the UK wage being 2000 a month you're looking about 40K worst case scenario
Thanks ForexWarrior2020, I have a rough idea on thse figures for what I would need/like to make, but what about a 'buffer' or extra in reserve incase of bad periods?
 
Messages
85
Depends totally on your experience you gain on demo account and spend time in trading if you want to make 5% profit you should invest a handsome amount and trade full time for trading. Full time trading is more profitable than part time because one can avail any good move in market by using full time. for less percentage of profit you can invest $500 or more it will be a safe way of trading.
Interesting take on it, not planning to jump in with nay huge amounts, want to work my way up and compound a good account.
 
Messages
85
No one easily makes 5-10% every month. Even at 5% and uncompounded, that's 60% per year. Compounded, it's almost 80% per year. If it was that easy, where are all he forex trading millionaires and billionaires? The only place I see those are in advertisements for very questionable forex products.
Great point, not that I plan on being a millionaire.
 
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