Account size to trade full time?

Messages
85
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.
What sort of figure would you add on top of that for a sfaety net if things went through a lean patch?
 

fxoday

Recruit
Messages
472
So Forex trading would not be something you would consider making your full time income?
Interesting, forex business included the large business and trader actually can make money not only from trading itself, but there are some people can get success with partnership program by a broker, say it as IB, or if have sufficient skill to managed account trader can join in PAMM system, copy trading, etc. forex is very something for my income.
 

Charlieboy885

Corporal
Messages
78
I think it is possible to build up to have an account which you can trade full time and make a reasonable monthly income. However, I think it takes many years to get that level of consistency to have a regular monthly income. I think it's good to hold onto some other source of income so you know there is that guaranteed amount coming in. If I was looking at trading full time I would want at least a year's salary as a back up on top of my account so I could keep up with mortgage payments etc if anything was to go wrong.
 

Alfons

Private, 1st Class
Messages
34
Just don’t use what you can’t afford, full time is going to take a lot of capitol.
 

Kirstysingy

Recruit
Messages
25
You should only really be investing in what you can afford to lose and obviously if you’ve been practicing on demo you should know your rough weekly returns. . Risk management will also be key
 
Messages
13
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?
It really depends what you count as a full time wage, that you can live on. Before you go a full time trader, it's recommended that you have savings so you aren't trading to 'live' this could make you trade out of desperation.
 

RahmanSL

Major
Messages
2,823
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?
That depends on what you require for your monthly expenses and living.
Calculate backwards to your risk-reward appetite to come up with the amount of money you will need for the size of your trading account.
As an investment and a full time Forex Trader, you will of course need to have sufficient capital with...this is the most important part...a good, well regulated, and trusted Forex Broker.

For starters, do not go with ICMarkets a.k.a I-See-Bucketshop because, even though they are ASIC regulated to give you that sense of false security, is well known to manipulate their client's trading account and you will land up here (and other sites) filing a complaint on being scammed by a scam broker.
 
Messages
85
Interesting, forex business included the large business and trader actually can make money not only from trading itself, but there are some people can get success with partnership program by a broker, say it as IB, or if have sufficient skill to managed account trader can join in PAMM system, copy trading, etc. forex is very something for my income.
Some good options you have put up there
 
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