Account size to trade full time?

Messages
79
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.
So regualtion does not guarantee protection of your money
 

LHill97

Private, 1st Class
Messages
49
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?
I started with $1,000 - and I'm by no means a full time trader but I'm doing ok month by month :)
 

RahmanSL

Major
Messages
2,822
Hi All,

I have received an interesting email from one of FPA "Special Consultant to the FPA", Andrew Mitchem, which I believe will be most helpful to beginner Traders and Wannabe Traders.

In his video, Andrew explain how beginner and even seasoned Traders can make money without having a very large trading account. I will not reveal exactly what Andrew said in his video, but strongly urged those who want to become a full time Forex Trader to go watch and listen to Andrew's advice.

For those who are unfamiliar with who Andrew Mitchem is, do check out and read his story here at the FPA.

To your pips and being a full time successful Forex Trader!
 

Forexathome

Private, 1st Class
Messages
31
I think you should go by 1% or less of your capital for a wage. So if trading with 10k that will be $100 a week. I’ve always gone off 1% take home even on loosing weeks as it evens out with the profitable weeks. Hope that helps.
 
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