Account size to trade full time?

[Shalirad]

It depends on the amount of money you need for a living and your trading results.
Experienced traders can expect to make about 5% per month. If you are just starting your way in trading, the first thing you should think about is not to lose your money. That is the main principle which a newbie should follow. You should start with learning and practice and postpone the idea of making decent profits right away. Here you'll test your motivation and psychology because of the fact that you'll trade without any profits. In the best-case scenario, you can think of making 2-3% each month after a year of trading.
The second thing you need to include into calculations is how much it costs you to live a normal life. The figures are pretty different in different countries. So, you'd better calculate your expenses and figure out how much money you need every month.
After it, you can do the multiplications and see the final result.

 

[sebking1986]

Another way you can look to see what would be enough is to try and pass a prop firm challenge like FTMO. They require 10% in a month to pass but not once you pass. Can see how much you make with more capital there with only the cost of the challenge at risk.

 

[Beokk]

It doesn't really matter what account size you have, the matter here is to have strong intentions and objectives... I believe that it might be enough to have 100$ on your account for successful trading, but without a doubt, you should take into consideration the fact that you can lose them all just because you are lack of experience.

Trading is created for all people and it's available for all people. There are bunch of brokers which offer low minimum deposit, hence you can try it out. For full time trading, the more money you can devote to trading, the more chances to stay stable you have.

 

[bigdolly]

I believe that this feeling will come to you naturally, after several years of part-time trading. Usually, people make trading their full-time activity when they realize that they miss a lot of financial opportunities during the day because of their main job. This feeling can still be misleading, but anyway, I think that it is too early for you to reflect on full-time trading.

 

[fxoday]

Forex trading remains risky, for long term business sometimes need to read tips from an experienced trader, full-time trading maybe gives a more beautiful dream, however, the dream not always come true, there are some tips from Rainer Teo as a mentor on tradingwithrainer, to get a job for backup income, because market not always gives you a profit all the time.

 

[bigdolly]

The more you deposit the more is here to lose so if you go full-time trading make sure you do have additional source of income and you can afford to lose your capital and that won't ruin your life. Make sure you considered worst case scenario first which won't throw you out the boat.

 

[Enayess]

The account size for a full-time trader must be convenient. Plus, we shouldn't forget about established minimum threshold by every broker. Some of them offer zero threshold, it means that you can deposit any sum, whilst top ones usually set a certain minimum deposit size in order to help traders to distribute risks correctly.
I would say that 500$ is the most convenient sum for a deposit. You can excellently calculate deal sizes, risk/reward ratio and you don't need to use leverages that are considered to be the most dangerous instrument for traders, especially those who lack knowledge and skills.

 

[fxoday]

Skills are matter in the forex trading business, start trading is easy, however, maintaining quality trading is not easy, although possible to produce a profit of thousands of percent a year, however, without good trading skills is impossible.

 

[bigdolly]

Another way you can look to see what would be enough is to try and pass a prop firm challenge like FTMO. They require 10% in a month to pass but not once you pass. Can see how much you make with more capital there with only the cost of the challenge at risk.

Prop firm trading challenges is either marketing ploy from existing FX firms to generate new leads or a business that generates cashflow from various demo trading "fees" (price feed subscription, insurance, initial own investment etc. etc.) The goal of the second type of the firms is to keep a "candidate" on demo as long as possible. I would call it a soft scam including the one offered from FTMO.

 

[vantho1407]

I would say if you know what you are doing $1000 is a good start