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How much capital is needed to make forex for living?

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?

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#1 - February 07, 2019, 10:17:56 PM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?
Regarding the capital used in forex trading for trading for living, according to me, it depends on how many needs to be met per day because everyone must have different needs.

In my personal opinion, the 10k USD capital is more than enough, with a target of around 5-10 percent per month is enough to meet daily needs and for sudden needs. But capital is actually number 2, the most important is our skill or strategy whether it has been profitable or not, if we want to trade for living at least we have consistent profit.
#2 - February 08, 2019, 12:04:46 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Regarding the capital used in forex trading for trading for living, according to me, it depends on how many needs to be met per day because everyone must have different needs.

In my personal opinion, the 10k USD capital is more than enough, with a target of around 5-10 percent per month is enough to meet daily needs and for sudden needs. But capital is actually number 2, the most important is our skill or strategy whether it has been profitable or not, if we want to trade for living at least we have consistent profit.
If you ask for the capital needed, maybe it depends on each person. Because there are some people who succeed in doubling their money with only a capital of $ 10. But of course this method includes extreme methods and requires extra thinking
#3 - February 08, 2019, 01:13:58 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?
in my own personal opinion to be able to start in the forex business ideally good capital to deposit is a minimum of 1k to 5k because with such capital it is logical that with the smallest lot we still have strong account resilience and can be averaged if there are direction indications according to our analysis
#4 - February 08, 2019, 01:17:03 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Regarding the capital used in forex trading for trading for living, according to me, it depends on how many needs to be met per day because everyone must have different needs.

In my personal opinion, the 10k USD capital is more than enough, with a target of around 5-10 percent per month is enough to meet daily needs and for sudden needs. But capital is actually number 2, the most important is our skill or strategy whether it has been profitable or not, if we want to trade for living at least we have consistent profit.
wow .. 10K is quite a lot of money, sir. but it's true like what you say that everyone's needs are different. if I personally $ 400 per month is enough
#5 - February 08, 2019, 01:41:38 AM

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in my own personal opinion to be able to start in the forex business ideally good capital to deposit is a minimum of 1k to 5k because with such capital it is logical that with the smallest lot we still have strong account resilience and can be averaged if there are direction indications according to our analysis
Okay. then from the capital what is the percentage of your target per month? I think no matter how much capital we have, we have to set realistic targets in one month.
#6 - February 08, 2019, 01:44:12 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx

SOME THINGS YOU NEED TO CALCULATE TO DETERMINE OUR CAPITAL NEEDS

HOW MUCH OUR NEEDS PER MONTH
The first thing we need to know is how much we need each month, our advice should be to focus on basic needs, such as clothing, housing, water, electricity, internet, transportation, children's tuition, etc.

Special expenses such as holiday budgets, advances to buy new cars, etc., should not be included in it. We will discuss the way we meet these special needs.

KNOW THE BENCHMARK AVERAGE MONTHLY PROFIT TRADER

Benchmarks are usually used by the average JCI increase every month in the past few years. Usually the average used is from 2007 to the present, or from 2010 to the present. If we calculate from 2007 - June 2018, the average monthly JCI performance is 0.98%. If we calculate since 2010, the average monthly JCI increase is 0.84% ​​/ month.

It feels small, but that's the benchmark of our performance as a trader, if so far our average monthly profit is more than 0.98% per month, so we can already call ourselves a great trader.

Believe that regardless of how much profit many traders show on social media or stock forums, we strongly believe that more than 80% of traders in Indonesia fail to beat these benchmarks, you can also ask yourself the same questions, are you also from traders who have an average monthly profit of more than 1% per month from your total capital?

If all this time your average trading performance is still worse than the JCI performance, it means that it's not the time for you to decide to become a full time trader, regardless of how much capital you need. But if your average trading performance is greater than the JCI performance, then you need to measure more deeply about your trading performance so far.





MEASURING PERSONAL TRADING PERFORMANCE



In the table above we can see an example table of trading performance of one trader in the last 30 months compared to the JCI's performance in the same period.

From the table above it is found that this trader, has a better average performance than the JCI, when the average JCI performance is 0.62% per month, the average performance of the trader is 1.2% per month.

So the average monthly trading performance is 1.94 times the JCI and in the last 30 months this trader managed to overcome the JCI performance 21 times and 9 times below the JCI performance.

If you analyze the performance of this trader in the last 30 months, it seems that this Trader has enough ability to become a full time trader, there are 2 important points that we can draw from the performance table above, among others:

Trading period of the last 30 months, in trading sometimes we can be lucky and make big profits in 1 or 2 months, that's why a long enough sample is needed before deciding to become a full time trader, our advice is to trade for a minimum of 2 years, before starting to think to work as a full time trader, because long periods of time will delete the 'lucky factor' and show our true abilities.
A fairly stable profit, and above the JCI, sometimes the high profit earned by a trader is not obtained from consistent profits obtained from month to month, but because only 1 or 2 trades produce profits of tens or even hundreds of percent. So it could be that the trader in question suffered a loss 25 times in the last 30 months, but due to the large profits obtained in those 5 months, the average performance of this trader can still be above the JCI. Getting profit in this way is not something wrong, but traders like this generally do not need to be full time traders, just trade as part-time jobs, and focus on looking for stocks with huge potential profits. No need to leave the profession before, and focus on observing the market every day.


#7 - February 08, 2019, 07:11:20 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
If you ask for the capital needed, maybe it depends on each person. Because there are some people who succeed in doubling their money with only a capital of $ 10. But of course this method includes extreme methods and requires extra thinking
I'm not sure that for only $ 10 you can survive in the forex market. Because the nominal amount is a fairly small amount. To be able to generate $ 100 means you need 1000% profit, while to get 100% profit in forex trading is quite difficult.
#8 - February 08, 2019, 07:15:03 AM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
the capital needed depends on our strength to finance, maybe it depends on each person. Because there are some people who managed to double their money with only $ 10 capital. But that capital is very extreme in forex trading
#9 - February 10, 2019, 06:31:16 PM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
the capital needed depends on our strength to finance, maybe it depends on each person. Because there are some people who managed to double their money with only $ 10 capital. But that capital is very extreme in forex trading
for capital needed in trading itself is divided into two things, first is money capital for trading and the second is science capital. for your own money capital, when you first trade it is $ 100 but with such capital do not expect to be able to generate a lot of profit, you must be careful in running money management. must consider many things in order to survive. trade in major pairs only.
#10 - February 10, 2019, 08:46:43 PM

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for capital needed in trading itself is divided into two things, first is money capital for trading and the second is science capital. for your own money capital, when you first trade it is $ 100 but with such capital do not expect to be able to generate a lot of profit, you must be careful in running money management. must consider many things in order to survive. trade in major pairs only.
yes sir so from that in forex trading we must get to profit and loss, so we must be smart to manage the funds we have to have strategies that are important to maintain emotions,
#11 - February 10, 2019, 09:27:41 PM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?

in my opinion not the main capital here, because without good analytical skills capital is less effective, it could be that even though the capital is large, it will run out too. so in my opinion analysis skills that must be made capital.
#12 - February 10, 2019, 10:14:49 PM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?
trading capital from forex in order to be able to trade for living depending on how much monthly expenditure we want. For example, in a month we want to be like a salary of $ 300, so the main capital needs to be prepared is approximately $ 2000- $ 3000, why is that capital so that it can be consistent and long-term profit
#13 - February 10, 2019, 10:20:40 PM

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How much capital is needed to make forex for living? in General Forex Discussion_xx
Many of us want forex for living. But we must be able to accept the fact that people who succeed in forex trading are only 10%, while 90% end in failure. Forex trading is not an easy matter. I want to ask all of you, How much capital do we need to be able to make Forex for living?
I think with a capital of $ 20 we can also succeed in forex depending on how we react that.
#14 - February 11, 2019, 03:38:50 AM

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its depend on where do you living in because every country have differents cost of live, for myself from 1k already enough to cover the cost of living, with the monthly target about 30%, but i say again it really depend on where do you live
#15 - February 11, 2019, 03:42:27 AM

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