Account size to trade full time?

[Manalmeena]

It is all individual, but all in all, you've got to have pretty much on your trading account so that it will be able to provide your living.
It depends on many different factors such as your abilities to trade, the amount of money that you want to receive through the trading on the regular basis, your risk profile and so on.
Perhaps, the most important thing is how well you trade. If you have huge experience behind your back or you have some goof knowledge about the economics, then you'll be able to earn more trading less. However, judging by your question, I assume that you are relatively new to trading, that is why making this kind of activity the main source of your income is not a good idea. You have to learn and practise a lot before you'll will be able to trade efficiently, so that your financial position will never be at risk.
Your risk profile is also very important. Usually, the more risks you take, the bigger potential profit you have. However, whis profit is only potential and if you want to make it real, you need to control your emotions and make logical weighted decisions. Otherwise, you are more likely to lose the money rather than earn it.
Finally, it depends on the amount of money you need for your living. In most of the cases traders can make about 2-5% profits every month. Of course, they can be bigger, but I am talking about the average trading results following risk and money management. So, you can calculate on your own how much money you need in order to make trading bring you the profits making you free from working in the office from 9 to 5.

 

[fxoday]

Well, account size for full time should be really big. Basically it depends on your location and how much money you need for a living. You can expect to make about several percents every month, so you can calculate it yourself.

Yes, different locations could difference standard cost of living, $1 in US is nothing, but $1 in Africa could be worth it, big lot size also needs to use a bigger account balance, the small balance should use the smallest lot size.

 

[FriendlyFX]

Depends on your lifestyle your expenses your outgoings etc .
The best rule of thumb is to have trading as part of a multi income approach.
Don't put your eggs in one basket .
10% a month would be top progress for a successful trader

 

[Luke_D]

How much are you trying to make per month? Trading is more like a side gig to me because I also spend my time chasing after my 3 small kids, so I've devoted a few thousand dollars in total but never made a huge investment into it because my husband makes enough to support us. If I were living solely off of trading income, I would have sunk a lot more into my account.

Are you able to make good return?

 

[TareqS]

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?

As you said it depends on individual. Basically, it is a question you would not ask if you were in a position to earn money consistently by forex trading. A trader can earn from 1% to 10% depending on his skill and time. I would recommend that you devote yourself to learn how trading is done. Meanwhile, you keep doing your full time job or business. You will know exactly when to quit and how much to invest. I am wishing you all the very best.

 

[Anakelv]

It actually depends on your skills and your daily expenses.
If you are an absolute beginner, you'd better stop thinking about becoming a full-time trader for now . You've got to have some decent budget even trading part time just to be motivated by some good stable profits let alone making trading your main source of income.
First of all, you've got to calculate your personal cashflow and see how much money you need to live your normal life for a month. Basically, a trader can make about 3-5% of the total budget in a month if their skills are alright. So, if you need $500 per month to live normally, then you need about $100000 to feel fine while trading. However, before switching to the full-time trading a strongly recommend to make a rainy day budget in rder to feel financially safe whatever happens.

 

[liability]

Clearly you are a newbie if you are thinking like that, and it is better to go back to demo trading if you have no idea how much to start with
Typically you can start with 10 bucks or 1000, it just depends on which strategy are you using in trading, because you can either make more or just wipe your account right away in an instant.

 

[Glastonburyk]

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

That is reasonable

 

[Glastonburyk]

Clearly you are a newbie if you are thinking like that, and it is better to go back to demo trading if you have no idea how much to start with
Typically you can start with 10 bucks or 1000, it just depends on which strategy are you using in trading, because you can either make more or just wipe your account right away in an instant.

I think he’s merely trying to understand at which point in his journey he could consider this. This is a question everyone asks themselves at some point regardless of what stage they are at

 

[liability]

I think he’s merely trying to understand at which point in his journey he could consider this. This is a question everyone asks themselves at some point regardless of what stage they are at

Oh that is completely understandable. I was just sharing my point of view.