I would like a beginner (a little longer on the market) to ask a question. What amount is best to start trading? and how it is better to behave to get lost on the price movement (especially in negative direction)?
Thank you in advance for your reply.
Well, it depends on the goals you set, the amount of profit you expect to receive and your trading strategy. If you are carry trader, then you won’t probably go without a big chunk of money in your account, as maintaining your position during heavy drawdowns and paying swaps is not for a low capitalled trader. Newcomers may advocate a position of disconnectedness between successful trading and capital, but they are a long way out of their beliefs. Decent deposit is essential to ensure trading with risk within a reason.
I started 3 K$ with Hotforex on their micro account with 1:400 leverage and 0.1 lot. Changing lot size in your orders will help you to manage the risks and reward as well.
Most broker require hundreds for depositing but I think it depends on your trading expectation. If you want to trade high volume and high levrage, more deposit as well. $3k is a good amount for starting but I prefer a smaller since it’s too much with me.