How much money do you need for day trading?
By Yuriy Bishko Updated November 12, 2022
- How much money is required to start trading?
- How much money do you need for day trading?
- How much money do you need to trade crypto, forex and stocks?
- How much money do you need to trade and invest in cryptocurrency?
In this article, we will fully answer these questions and give recommendations on how and what amount it is best to start with.
How much money do you need to start trading?
A large deposit is usually a big plus if you know the basics of trading and have a profitable strategy. But if you do not have it, you will lose all your money.
I have been actively trading for more than 8 years. During this time, more than 1,000 people have done my training course and started their own successful path in trading.
Having gone all this way and gained a lot of experience, I can confidently recommend starting with trying to double a small deposit. Start with $100 - $200. You definitely shouldn't use more than 30% of your monthly income. Once you manage to double your trade balance, you can start raising more money on your deposit.
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Let's look at a real-life example. It is best to describe this with the example of a beginner driver. It's cool to have a fast and powerful car. But if you are just starting to learn the basics of driving, can you drive on the highway at maximum speed? I’m sure you can’t. In most cases, this will all end up with dangerous consequences for you. First we learn the rules of the road. Then we go to the test track, and after that we drive around town. In trading the situation is the same. So if you can't increase $100, you can't do it with $1,000,000.
Trading is not a casino, betting or lottery. With such an approach, you will only lose your money. All success directly depends only on your skills and strict adherence to the rules of your own profitable strategy.