nwalle wrote:Hi guys,is a $1,000 account practical enough to kick-start a live trading acc?
They say FX trading is 90% psychology/emotions and you'll soon realize that, when real money is on the line, traders generally tend to make irrational decisions. Therefore, if you are a new trader, I suggest you find a broker who can offer you high leverage and break down your $1,000 into smaller amounts, $100, for example. Chances are you'll lose most of your initial investment while starting out, but if you're sharp and able to learn hard lessons fast, the small losses will be totally worth it -- consider them your school/internship fees. On the other hand, if you do not master the basics first (money management, risk/reward ratio, emotions et cetera) by losing small amounts first, you're likely to blow that $1,000 sooner rather than later.