How Much Money Do You Need to Trade Forex? (Realistic Trading Capital Amounts)

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In this video we go through a realistic calculation based on appropriate risk management (watch to the end for multiple options).
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[@aluisious]

Long ago, when I was a kid, I traded $2k accounts. I knew then that it wasn't to make big money in any way, it was to learn. I always considered losses to be "self-educational fees." I couldn't be doing what I am now if I hadn't paid dues then and been involved in markets for this long. I think the main advantage to small accounts is to make the sorts of mistakes that would be a much bigger problem with bigger accounts. Losing half of $2k because you're fumbling around is not going to make a big difference to anyone really. Losing half of $100k because you went guns blazing into unfamiliar territory might end up in a divorce.

[@briancooper7249]

I started with £35,500, one of the best decisions I made at stage of my life. And I have involved my children into it. I wish I started it at 17.

[@Jovito_Britto]

How r u doing now???

[@briancooper7249]

I'm good. Thank you and you

[@jennyjin6136]

I am a beginner, can you mentor my early beginning?

[@louisethomas7848]

How do I reach you?

[@briancooper7249]

I am not a professional broker, I can recommend a good broker Mr Chris Vandernaald to you guys

[@dandarefpv1860]

I've not watched every video on YT about this topic, but I can't imagine there are ANY better, and more genuine than this one.

[@Duomoinitiative]

🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining 🔹 Add us on Instagram: instagram.com/duomoinitiative/ 🔹 Our second channel for financial news and analysis: kzbin.info

[@jasfordedits]

Im a very poor kid right now, I have about 1 grand to my name and barely make any income, this money has taken me ages to get and I wanted to be atrader, I went to a beginners workshop seminar for trading hosted by "learn to trade" they were good at showing some ebasics but then offered a 7k course and it was all a scam and said i can make it as a trader starrting with just 500 pounds alongside their course, this guy is aweesome, love his content and he gives actual answers not bs fluff that doeesnt even mean anything and doesnt ive answers, just leaves you with more questions, love you bro

[@DontAskMePlease830]

I was at the workshop myself...once they said the course was £7000 I just walked out

[@jasfordedits]

@@DontAskMePlease830 wow good choice, they aree a bunch of money grabbing thieves, which city did you attend? I was at the one in liverpool

[@MegaMalik90]

@@jasfordedits been a year, how are You now? Rich yet?

[@bangladesh6027]

You always have to ask yourself why trading educators are doing what they're doing. Where is the conflict of interest? Which broker is employing them? Why would someone create a winning trading strategy and then sell it? Why do they need to sell it?

[@evantrades]

You can risk 1-2% per trade with 500. Did your broker not offer micro lots or something? As a beginner, you’re going to lose a few accounts. Best to keep it small until you’ve proven consistency. Thanks for the content! Keep it up 👌🏼

[@andrewsutherland182]

I like this guy he not selling you no bullshit ..maybe it's the accent lol.but no seriously this is very good info

[@Duomoinitiative]

Thanks buddy, really appreciate it.

[@maartenarnou]

Andres Tomas I totally agree. Great & honest advice here!

[@craig7575]

Ton Jones go fuck yourself. Nobody will fall for your bs.

[@juanpicarabajal]

@@Duomoinitiative Thank you ! Great Info

[@360PhoenixFlip]

Fantastic video! I personally started with a 3000 dollar account, but I'm still doing it as a hobby and compounding my profits until I know I can go full time. It would also be worth mentioning what kind of lifestyle people have/want, where they live (cost of living), style of trading etc. that would also affect how much one needs to start trading.

[@lite8544]

how's your hobby going

[@lite8544]

@nPlatin que

[@infiltr80r]

So you need to make like 300% every year to make any reasonable money. That's close to impossible.

[@sft115]

Fantastic explanation!! I have paid a lot of moola for different dvd courses but even those didn’t explain it soooo well as you did thanks sooo much for that!

[@zdrux]

I had a "Welcome bonus" of free $30 when I opened my account. I turned that $30 into $250 in less than two weeks (using just 0.02 lot trades). I got over-confident the started raising my bets, and of course blew it all. So like was said in the video; yes you can start trading with $500 or even less, the point is your profits will be so small that you will want to start raising your lot sizes and increasing your risk, and it always leads to a 0$ account. Having a bigger account allows you to take bigger losses (it sounds worse than it is), which also allows you to make bigger winners without stressing over the fact that two trades will clear our your account. Good luck trading, and Merry Christmas to everyone! Have a Happy 2017! update: Just finished watching the video, and you've just said everything I did LOL. Looks like our journey is quite similar.

[@Duomoinitiative]

I think when they give away these welcome bonuses, they're hoping for people to do exactly that! Thanks for commenting this, I think it's good for people to see that these things actually happen, because I'm sure some people will listen and think I'm just saying it for the sake of it and they will be the exception. It's harder than they think!

[@AssasynCounterExtrem]

How did you manage to make such a flip with only 30$ using such a small lot size? Only 0.02? It s ridiculously small. You must be talented

[@offshoreexpat768]

A really great video but one point that you mention in many of your videos is how you lost then made roughly 200K gbp in a week. of risking 1-2% per trade, you would of had to have 5-20mil gbp in an account. Where am I off? When you lost then made 200K gbp what was your trading balance? Thanks!

[@kyle4016]

Very on point, especially the psychological part when you trade small amount. It will be a waste of time and you will always end up losing all capital like it is nothing. 10k is a legit amount to start with, but only trade it if it is your excess money not for paying bills.

[@kyle4016]

@Regena Paquet there is no 100% profitable trade, trade is a game of probability, find youself a trading edge and trade smaller amount each time. Play it defensively instead of offensively.

[@stockpumpers975]

it took me a few years to learn this lesson, if you're serious about trading you will save at least 15k before you trade and you will learn while you get the money or you will blow up small accounts until you realize that you need money to make money. Finally im starting next year with 20 to 25k to give myself a real chance at success. Don't waste your time and give yourself a real chance at success if you wanna give your money away feel free but what he's saying is very true. In fact if I ever were to trade forex I would come to him for sure just because he's the first person that doesn't say " with 200 you can be a millionaire bullshit talk" Same thing when you go to fix your Iphone X and they charge you $250, you think apple builds a 1k phone with 30 bucks in chinese parts? same thing with trading. Treat this as a business not as your personal gambling addiction

[@DisciplinedTraderUK]

Really good video Nicholas! Nice to see someone talking realistically about how much money you need to start trading.

[@Duomoinitiative]

Thank you sir :)

[@forextrex1938]

Nicholas, my favorite Forex preacher, preaching the truth, and very realistic, that´s the way it is ! ¡ Saludos !

[@neilbickerdike]

As long as your risk managment is on the ball you can start with £500 or less and compound it... before you know it you have way more..

[@Cross8ow]

Exactly, only fool expects to be millionare after a month or so starting with 500 €. Let's take this scenario. YOu stard micro account (1,000 lot size) with 500 usd/eur/gbp. Risk 2% per trade for 50pips SL. So maximum of 0,2 € for a pip. 1 pip on micro account is 0.09 € so I can use lot size of 2. If you can manage to get on average 500-1000 pips per month it is 1000-2000* 0.09 = 90-180 € from 500 € startup. If you think it is too high then lower it to 250-500 resulting in 5-10% increase. You can double your account after 6 months if you will do it consitently and slowly rising lot size while risk remains the same soon your side-income can equal your primary source.

[@Jomoranks254]

True

[@AkaNeymar]

@@Cross8ow I don't even know what you just said can you help Me?

[@Cross8ow]

@@AkaNeymar google compounding.. you let your earnings work, unless you need to live from profits.

[@AkaNeymar]

@@Cross8ow thanks

[@thomashowellfx]

to be honest you can start with only £250 and do small lot sizes like (0.01 - 0.05) then once the account grows you can do bigger lot sizes. it's more risky and it'll take longer but it works.

[@KingSpartan95]

Night24 i agree

[@aweinfinitebliss]

You are so right, I've been going through the same process you describe. Trading too small an account, burning it out and depositing as much as I can afford every month. What your saying about saving it up and putting together a descent pot of cash is what I've been trying to convince myself to do. Looking at all my losses? I've really lost alot, had I saved up that money I could have a really good stack to trade from. Tiny accounts are really a waste of time. You don't have much connection to the money, the returns are unattractive and feel like nothing. You just want to be trading all the time to grow the account, and anybody who has been trading for sometime that's a recipe for disaster. Thanks for doing this video. Really helped to straighten my perspective.

[@miguelfernandez4051]

You just described my past experience 100% that brought me to make the same conclusions made in this video. I learned them the hard way too. I would strongly recommend this video to any new trader.

[@chinitayela]

Miguel Fernandez can you recommend a legitimate forex trader

[@JaysonChong323]

In my opinion, high probability trading setup through chart screening in 4h&1D time frame (required technical knowledge). To Command Risk Reward Ration min 1:1.5 through calc pips to lose and realistic SL / TP (via support/resistance). Using how much pips to lose over total account balance to determine position sizing and ensure remain your risk appetite per trade say 1%-8%. Above all, please do not use leverage more than 1:50. The gist is, you are managing calculated risk with discipline and execute with peace of mind because you know what you are doing and how much comfortable you dealing with risk in trading. You'll see the $$ flows in sooner or later, but only for those who have perseverance. - YJ

[@danzi333]

I like your style, straight talking with no ego :) I do feel trading at 0.01 has its uses, when I felt ready to go live I made a wise decision to trade at 0.01 for two weeks. I was quickly taught I wasn’t ready and went back to the demo.

[@isabelmorejoncastellano7125]

Hello, I am just starting to learn. This is one of the best videos I have seen. You show us a kind of inside strategic formula to set a relation among all the facts involve which is also most important than determine the minimum investment. I took my notes. I will follow you without any dude. Thank you very much. It is capital to understand this calculations. Very clever.Thanks again.

[@anthonycarlin3452]

finding this now in 2017.... amazing

[@DAN_ZEMAN]

IGNORE THESE SHILLS POSTING CONTACT DETAILS FOR SOME GUY WHO WILL MAKE YOU RICH The advice on the video is sound but these snakes who tout for business on these posts are to be ignored at all costs And I would kindly ask Nick or whoever moderates the account to delete the 3 messages from the scam artists above

[@rosarioguerrero458]

I wished I would've seen this video before burning down my account, so been there!

[@MyKnightlife]

I noticed a lot of examples i related to. like where i blew $500 going stupid with my risk profile.

[@kylemcpherson7183]

Risk management is key guys. its not about how much you win. rather HOW YOU CONTROL LOSSES.

[@georgecurtis7392]

Try the best broker on binary option and bitcoin trade

[@ch.1778]

I blew mine today, then this video popped up lmaooo

[@Spitfirebattle]

NIce video, as usual, but I personally disagree on your considerations on the 0,01 lot trades. Open a small account, trading 0.01 lots gives you more learning than opening a 1000000$ demo accout. You may have to trade 0,01 lots for a year, sacrificing your time, but: is there anything that comes without effort? let's say you deceided to go to university to get an high salary job (you are not fit for tradidind because you need a fixed income, but this is out of topic) you will invest four to five years without earning and paying the fees, way more expensive that trading little amounts for as long as you need until you learn, but this is just my two cents...

[@IsmaelNxala]

Hi, I just started learning about trading, To be honest I understood about 40% of what you said, tho I find your videos very educational and would please like to learn more. Thank you.

[@Duomoinitiative]

Feel free to browse through the channel. We have well over 200 videos on here now. If you have any questions at any time, just let us know!

[@paulbrown5839]

Good point on your sizing calculation

[@davidromano1992]

Thx again Niki, this really answers a lot of questions, thx and merry xmas!!! 🍻🍻🍻

[@Duomoinitiative]

Brilliant, I'm really glad it helped. Happy Christmas to you too!

[@122-i7b]

All aspirations crushed

[@Ijaf98]

Weak....if that crushed your aspirations then Forex wasn't for you at all

[@ziloo956]

You don't have to invest 5k If you trade mini lots make your risk 4% you risk 20pips per trade You end up with a 500$ account For 3% 666$ For 2% 1k i didn't add the 20% that he used but you get the point Hope you have a nice day Ps: mini lot = 0.1 standard lot 1pip=1$ or 1€ or 1£

[@Ijaf98]

@Auburn Aggie 88 5000? You need 100k minimum to be a PROFESSIONAL trader...if you don't have any intention to be pro like myself then do whatever you want with whatever capital u have

[@mikebasketball11]

@@Ijaf98 Why do you need that much money to be a pro? Why 100k? I'd love to see some maths backing up these claims.

[@bangladesh6027]

@@Ijaf98 lol what a tool

[@graxx1451]

INVESTING 12,000 POUNDS AS A BEGINNER IS MADNESS!!!

[@Duomoinitiative]

I think maybe you missed a lot of the points in the video? We break down lower amounts too. Also, this is not necessarily about being a beginner or not, it's just about the realistic amounts you need based on certain lot sizes in order to only be risking 1-2% of your account per trade.

[@MyKnightlife]

yeah i wouldnt consider myself a beginner, but ive lost a few accounts. So this video was useful to me to realise how much i should actually be risking per account size. theres a reason banks only make 1-5% PA.

[@MegaMalik90]

@@MyKnightlife I can give you 7.5% PA if you're interested. 0 risk

[@dontex7]

This is madness...this IS SPARTA!!!👨🏾‍🎤

[@infiltr80r]

Not really, what is a beginner anyway? You always need a few years of testing and reading. You shouldn't trade a cent in this phase. Also, this is about trading, not investing.

[@jeremylascano3144]

One of the best video ever about starts trading budget!! thank you so much

[@chadwilliams7143]

Awesome video. You made the explanation of this topic very clear and easy to follow. Thank your for being honest and telling aspiring traders the truth. I hate it when people try to make trading forex into some super natural crazy easy way to get rich in 90 days with $500. A lot of good people get hurt like that. Trading forex is probably the greatest and most rewarding thing that any of us will ever venture to do. We don't have to lie and embellish the truth.....Trading is awesome as it is!

[@kylemcpherson7183]

Id like to talk about trading experiences. Do you have a tradingview acct?

[@dustinbryant6293]

i am a virgin to the stock market yet willing to be patient and take the time to learn. If you could retrain your younger self how would you begain the process and what would you read?

[@Duomoinitiative]

Funny you should ask that - it's actually the exact topic of one of our next videos. If you haven't already started on our free mini-series, I think that's a good place to start, so you can understand which areas are important to focus on initially.

[@karansgarg]

Hi, which mini-series do you mean? Love your videos by the way.

[@Duomoinitiative]

The one you get by joining our free inner circle mailing list. Link is in the description box.

[@cristianmicu]

right on point 100% correct i would like to add tho, a negative aspect of trading small accounts coupled with minumum trade volume requirements of your forex broker if you have a small account and go for 1% per trade, you might find yourself unable to trade larger time frames like daily , because the daily range of a pair is greater or sizeable with your stop loss nice video , ty

[@PBRStreetGang68]

I did some calculations a few years back. Yours sound pretty closed to those figures. I calculated, that to give up your job and become a full time trader you'd need around £500,000. You'd probably average 15% a year in profits, if you were any good, and would allow for a bad year or 2 and still stay in game. It's probably better to trade part time along with your day job and use compounding interest to grow your account. I think phycological, having the pressure of relying on your trading profits as your only income, would probably be enough to start coming away from your trading plan. Especially if you had long period of drawdown. Great video........it really gives a realistic view of home much you can draw from the markets.

[@AssasynCounterExtrem]

Omfg that is a lot of money.... in POUNDS Edit: better change the country in other countries you can do really well with less, for example 100000$ are more than enough for me

[@josephwhite9628]

This video is still gold lots of common sense Thank you

[@kelvinketer789]

Bro if you didn’t make profit with 200$ don’t expect miracles to happen with 2000$. Just tell the people that you need to learn what you’re doing and don’t get into a risky account

[@ptechapple]

Your brilliant Nicholas thank you for everything you are doing for us and have a happy Christmas 🎄

[@IFANKII]

One question that occurred to me during the video. How would you take leverage into this calculation? Would you just multiply the overall account balance with the leverage factor or how would you do that?

[@simongallup6499]

@Duomo: 1.) What Broker... 2) What platform/Software........3.) what market(s) & Financial Instruments U trading !?

[@ajballarichyung6]

Great video one of the best I have seen in my journey of starting in 6months. Cheers

[@Duomoinitiative]

Thank you, much appreciated!

[@mmustap3]

Solid Information. Realistically, the 2% rule is irrelevant because the accounts are leveraged, you should really just use an amount that you are able to make a return over a basket of trades that your edge could play out. So, if your make returns over 20 trades, then you could risk 5% of your account per trade and still end up on top.

[@cjramos3891]

Great video! This is excellent, and extremely precise. Thank you very much!

[@BennyTwennyGrand]

Thanks for covering this subject. I was gonna get in with micro lots (0.01) but after you expressed your opinion, I think I'll hold out until I have adequate risk capital to trade mini lots and work my way up to standard lots! Merry Xmas and all that good stuff!

[@Duomoinitiative]

No problem with trading micro lots just to get a feel for the markets while you're transitioning to live trading, but I just wouldn't do it with any intention of turning it into good money. I think trading mini lots should be attainable for most people really - the time it takes to get the starting capital together can be spent learning the craft anyway. Merry Christmas to you too mate!

[@Ralphboon]

Very good insights; thanks!

[@robcamp5085]

Well done on this good info. One of your best yet. ADVISE people watch this twice.

[@n91605]

yes you are making a lot of heads spin.....swing trade or scalp? scalping can work but only after you mastered swing trading ....stop gap is 50 to 200 pips..... 4H and daily chart....split the position in half.......so then $1000 / 1% = $ 10 of risk.....@ 50 pips = 20 cents / pip...= lot 0.02....so then risk 2%.... 2 X 1% 50 pip stop...target 50 or 100 pips on one position..if target hit...2nd position move stop to + 5 pips and let it run as far as you can !!....What if your holding a position in profit and another good set comes....need another $ 1000...the minimum lots is 0.01 or 10 cents / pip you could take 1/2% trades X 2 then the absolute minimum is $ 500 / position....but 50 pips is too tight you really need more fire power 200 pips stop now you are dangerous .. traders lose because market squeezes them out ...trade bigger stops like the big boys and be a winner..so you need $ 2000 / position @ 2 X 1% @ 200 pips stop...trades .. if your stop is calculated @ 100 pips you make twice as much profit the lot will be 0.04 X 2 positions... you can only afford to take one position at a time ...but you have deep enough pockets to play the game.....use these risk parameters and trade demo till you are 65% hit rate....trade your set up 4 hour or daily.....trade like a bank or stop....do not trade.....emotion is the key to winning 90% are trading stops too tight.....and 70% are scalping ....Nail Fuller channel .....let your stops get hit.....set and forget ... the only time you move the stop is into profit.....do not sit around watching the market....

[@Ahmad-yh1gq]

Do you need to know your online banking to start?

[@JonahGhost]

personally 30k US is good. if you dont have that much money save and study the market until you can come up with that money. worked for me.

[@anthonycarlin3452]

nice bro, how you getting on now 9 months after posting this? are you profitable and if so what do you avg per month? just out of interest. is 30k enough for you to do it full time? :)

[@goldenstatew2399]

anthony carlin hes seen back at the daybjob

[@thulasmash2195]

@@goldenstatew2399 😂

[@theknowerandtheknown]

If you have a small account and you are not compounding your wins, trading small but gaining well then you can't learn through experience. I think its a good idea to start with 200 - 500 and just get used to managing your account and learning through reasonable low risk mistakes

[@SaffinRed]

Very Helpful Thanks. If i am opening multiple trades at a time, is the 2nd trade still opened with 1% of my capitol or is it 1% of capitol minus the 1st trade. Hope you have a good festive season

[@Duomoinitiative]

It depends on the correlation between the trades. If the correlation is high e.g. both major pairs involving USD then I would stick to it being 1-2%. However, if they are on completely different time horizons or not largely correlated, I would do them as separate 1-2%. It's all about your exposure to specific risks rather than exposure to any risks.

[@ingodwetrust5851]

first of all thank you very much for your effort and great content second please correct me if im wrong if i have 5000 dollar account and my maximum risk is 1% 50 dollar , maximum lot size is 1.00 and my target is 100 pip witch is 100 dollar, then i will be in the right side or should i do some adjustments

[@thomasperrin3818]

Hi from USA. What is a pip?

[@bdinmore]

Great advice on trading micro lots - I didn't take it serious until I still up to mini lots

[@Duomoinitiative]

Cheers Ben!

[@coldfeel]

thanks for your honesty. well done

[@eugenegovender3863]

Brilliant video, extremely helpful for where I am in my trading.

[@luanofortuin206]

Hi which forex broker are you using?

[@shadhirjannath2495]

Can totally agree with you bro!.. can agree with each and every word since I have gone through all what you said!.. like it or not.. very practical advise.. thanks and keep it up man!

[@kemms]

What's a good demo app to use to learn?

[@CS-ry4zk]

Hey, which broker do you use to trade forex?

[@marcbarling2649]

great video i followed most of it but got lost a bit as well but i am going to watch everything u have put out so glad i found u on here binary option loli was just at the point of saying trading and me ?r done but i think i found u just in time so out with old and start again cheers

[@mattklages7747]

Just a quick question. I understand that every trader is different with their goal preferences and Stop/Limit order, however for you personally, what percentage of profit do you try to aim for when trading. Just to give me, a newbie trader, an idea of what to shoot for as well.

[@Duomoinitiative]

I usually look for at least 3:1 on a trade, with no more than 2% at risk (usually below 1% at risk). - Nicholas

[@interstateceo303]

Good stuff mate

[@HemaRampersad]

This is the third video of yours I've watched... and I love you lol #AwesomeContent

[@Hsk736h]

appreciate the content but there was a woman whos a student of charlie burton who turned 200 into 12k or so within a year. then she funded her account with 200k and made 130k profit for the year. but appreciate the videos cause they are helpful bro! this is definitely one my favourite trading channels. edit - also appreciate your honesty about blowing accounts. I think you needed to go through that process in order to change so I don't think it was a bad thing. You mentioned taking on too much risk, so I think that was the problem, not that the account was under funded. But because the way our minds work, the figures don't make sense. To trade x hours for a couple pounds etc.

[@franfigueroa87]

what leverage do you recommend us to use ??

[@kylemcpherson7183]

1/100

[@Mrl9591]

Thanks for your vid, very informative. perhaps consider using a white board. you go through a lot of numbers in your vid and it's almost impossible to keep up since nothing is written. just a suggestion. I'm a newbee so tryna learn as much as i can

[@johnm7228]

super video....and.......a jumper!!!!👏👏😀😀😀🌲🎅🎉🎁.

[@Duomoinitiative]

I knew you'd appreciate the jumper!

[@e2thelp98]

Not sure you'll see this comment considering how old the video is, but what about starting with less than the minimum but still make sure to stay within the risk guidlines explained in the video. Capital wise it's a waste of time, but at least if you can still grow the account consistently, you're developing a track record that you can show to potential investors in a year or two. If your method works then maybe that track record is all you need to get some 'real' start up capital, provided your system doesn't get into any volume/liquidity problems down the line

[@Duomoinitiative]

Absolutely, if you can stay disciplined with it then you can still generate money. From experience I've seen most people take risks that are too big with lower capital amounts, or just get fed up of the slow progress and give up. - Nicholas

[@oceanview5616]

Dammit I wish I knew about trading years ago. I feel so behind 😫😩

[@stevzor]

Hi Nick, Thanks for the video, always packed with great knowledge for all us newb traders. I'm new to the world of Forex and what you describe in this video with regards to trading 'portions' of contracts sounds good. It would be cool if you could make a short video on how this is done. I'm in that basket (I'm sure many others are as well) of not having 10k to walk in with so knowing a bit more about trading portions would be ideal. Edit: - would this be the equivalent of dropping down and trading mini/micro lots and calculating from that point? slowly build up the bank roll over time while trading with what you can afford using mini/micro lots? Thanks, Steven

[@Duomoinitiative]

Yes 0.1 and 0.01 are just mini/micro lots. I just kept things simple in the video by talking about decimals rather than introducing new terminology. I can also make a video about it to make it clearer, but what you said in your edited part is exactly right.

[@stevzor]

Hi Nick, Thanks for the reply bud, all sounds good to me as I will most likely be trading mini/micro lots to see how that goes before moving up to a bigger bank roll as it's all about consistency for me. I've picked out FXCN and downloaded MT4 on their site to use with a demo account although other web based charts seem easy to navigate as MT4 auto zooms you out and in when trying to scroll back and fourth which does my head in lol. From what I've heard FXCN is a pretty solid UK regulated broker, what's your thoughts on them? also how do I go about joining your forums bud? I'm keen to get stuck in and start building more knowledge and joining in when it comes to posting potential trades etc with other traders including yourself! Thanks, Steven

[@Duomoinitiative]

Do you mean FXCM? Just checking, as there are a lot of 'copycat' brokers that try to scam people. If it is FXCM, they are a very solid broker like you said. Well established and I expect you would get good service. Check out this video if you haven't already: kzbin.info/www/bejne/qV7MdGBjhr1-aJY As for the forum, we don't have one at the moment but we are really keen on the idea of building a community somehow (whether or not that will be via a forum). However, we do have our online course which you may have already seen. We have a comments section there where people can discuss the stuff they're learning.

[@stevzor]

Yeh FXCM, typo right there! That's good to hear as I've heard that FXCM are a good pick. A forum would be a great idea to bring together a small or big group of knowledgeable traders mixed with some new guys like myself. Would be great for getting all the different views on trades coming up etc and will help boost learning & understanding with FOREX and specific strategies in general. As I currently work a Monday - Friday 9-5 job I've been looking at the daily charts to make my trades at that level, sometimes dropping down to the 4hr and the 6hr charts to find a good position to enter and to get a better idea of what's really going on. My method is really live price action being able to read what's currently happening with price with 2 MA's (MA's are really for confirmation on the down/up trend happening as they lag behind so watching live price action means I get into the trade quicker). What charts do you normally trade from? I know you're a fan of the daily charts but I have seen that you like to play the 5 min charts in the odd video? Also would you recommend any other specific indicator/s that would be a nice to have on the chart without having it to messy? Regards, Steven

[@Duomoinitiative]

Looks like I hadn't replied to this comment for some reason! In general I start with the daily/weekly chart at the start of the week to find which market I want to focus on. At the start of each day I'll then monitor the daily and hourly to find areas of high activity. I'll then mainly trade the 5 min chart with 15 min and 1 hour supporting. In terms of indicators, I'm not a big fan of using them in general, I prefer relying on my own analysis, but a consistent oscillator like an RSI can sometimes be helpful.

[@franfigueroa87]

If I want to do it also in dollars following this example, would be the same amount: 12.500 USD for 1 contract? Or i should convert it 12500 pounds = 15300 usd?

[@bobsforexstrategy8649]

Well, I agree my friend but the truth is that if you don't know what you're doing (when you're trading) THE LOGIC SAYS THAT there is no matter how much you risk because soon or later you will end up with empty account.

[@hakimmessaoudi1805]

thank you for this video, it really open my eyes to the reality of a minimum capital to put in forex. I change my mind I may think of different way to invest, thank you so much .

[@fmtradingstrategy5527]

I can feel you... True Trader say things true and have self reflection.

[@thobekanikhoza4038]

You are likely to get the types of questioned amounts being queried or suggested as to whether can they be startups from folks in the developing economies like myself (South Africa), and this becomes very interesting with the difference that one finds when one looks at the issue of per capita income between a UK Amateur trader as a UK employed citizen and a South African or perhaps even an Indian amateur trader. So when we, this side listen to the figures you are mentioning we always have to pull up our calculators and work them against your currency based figure to be able to really quantify their in our terms and we like: okay I'm never going to be able to do this then. When you talk of saving up I guess yea we can save money up but because of lower incomes compared to big economies guys it would certainly take us longer if not a lifetime just to save up to the point of those figures and Im takling the minimum of 12000 quids from our wages/ salaries, hence to us its more sensible to venture with start up figures of $250 - $500 as we would learn from these brokers from time to time lol! But thank you so much this information is invaluable especially for a skeptic like myself who still even have to see a demo account, keep it up and stay winning and inspired, we are following...

[@Duomoinitiative]

Thanks for the comment, you're right! 50% of our audience comes from the UK and US and from the remaining 50% they are normally from countries with relatively high per capita incomes. So the things I say in the video is relative to those countries. If you are in a country with a low per capita income, then the 'smaller' amounts will be a lot more significant and be worth trading.

[@vuyosidinile8493]

Thank you for being honest.

[@kareemab2657]

Can you put £50?

[@Duomoinitiative]

I'd strongly recommend having more! - Nicholas

[@franfigueroa87]

Nicholas, do you have any video explaining swing strategy for intraday trading and forex?

[@Duomoinitiative]

Our method can be used for any style of trading. As mentioned before, you should start with the free mini-series to begin with and understand the basics. We don't do videos about single strategies, we believe trading should be taught as a skill with an overall method, not taught as a strategy.

[@franfigueroa87]

I understand the point, but in your course do you teach basic concepts about finance or forex, and how the indicators work? You teach to use indicators or you only teach the phsycology? You teach some strategies or not? I understand you teach as a skill, but you teach all of this together or you focuse in what part of forex to be profitable? Thanks

[@Duomoinitiative]

Yes as you've probably seen on this channel (or if you want to look at the course curriculum, you can see that on the course information page) we teach every area, psychology, preparation, technical analysis, risk management, optimisation, indicators. We take an end to end approach.

[@franfigueroa87]

I like it Nicholas, thanks for the professionalism. I will for sure get into your course in near future. Im sure you will make me earn some wealth. Saw a bunch of videos around youtube and didn't found anything at the same level of honesty and profesionalism. Sent you an email, answer me pls. Best trading!

[@franfigueroa87]

So If I do this in USD it would be: 50.000 / 2 = 25.000, / 2 = 12500. + 20 % of drawdown, about 16.000 USD to start trading with 1 lot, is it ok Nicholas?

[@colbikes6017]

Just signed up for the inner circle,what is the best Demo trading site to use for a complete beginner??

[@Duomoinitiative]

I don't recommend any specific brokers, I prefer to stay impartial. However, this video should help you: kzbin.info/www/bejne/qV7MdGBjhr1-aJY in particular, have a look in the comments section and you'll see my opinion on a load of different brokers that people asked about.

[@RavenFlau]

I'm a noob trader. Not a year yet. Living in city where US$300 is the monthly cost of living. US$1000 was the starting capital and I earn pretty much $600 a month. I haven't experienced a loss that drained my money to a point where I needed to replenish it. But I'm scared -___- So can you tell me if what I'm doing is sensible?? :)

[@AssasynCounterExtrem]

Aim for 5000k at least

[@andrewbags7955]

Great video!

[@Duomoinitiative]

Thank you :)

[@nickwynjones]

Well explained.. So basically, as a rule, don't risk more than 1-2%... BUT, what's the rule for losing trades, ie, if you lose 3 trades in a row then walk away for that day? so basically lose 3-6% then take the hint & it's a bad day for trading? Got the money sitting in the bank collecting shit interest, just need to fine tune my trading then grow some balls & put it into a good broker account. What's your view on Darwinex? Keep up the good work Nick Nick :)

[@budpierce7443]

I like you but I don't understand pips and I don't understand Euro's .Can you change it to Dollars?

[@ryanc8839]

What trading platforms do u recommend? Uk

[@jasonlucas884]

Feel free to contact Mr Chris Vandernaald through email : T e l e g r a m : Chris_vandernaald

[@franfigueroa87]

Hey, when you talk about putting 25 pips of stop loss, this 25 pips has to be from the precise price at the exact moment that i buy or sell and enter the trade, or I had to add some more value? Because sometimes it doesnt let me to put only 25 because it says that it has to ve more than 10 points from the market place, and i have to wait so the price to move in my favour, to put 25 bips of stop loss. Actually in an instante order trade it never let me put 25 bips of stop loss, I would like to know this 25 if they are taking in consideration the price that i enter in the market, (if i buy, the buy price ive entered) or the sell price (when i entered as a buy trade)? for example if i entered a BUY trade at 1.04071 and the sell price was at: 1.04045, my STOP LOSS of 25 pips should be 1.04045 - 25 or 1.04071 - 25 ??? If its the last one, then I always have to wait till the price move to my favour a little bit to place the stop loss of 25 pips.

[@Duomoinitiative]

The 25 pips was just an example. The stop loss will always depend on the specific setup that has led to you opening a trade and how you run your system. Please don't just use 25 pips as a static stop loss, it won't work out well for you. Sounds like your broker has a minimum stop loss size, you need to find out what that is. The stop loss will always be applied to the side of the spread that you need to exit from. For example, if you're going long (buying), you will need to look at the sell price. If you're going short (selling) you will need to look at the buy price. Because that is the price you will be using to exit the trade and the stop loss is all about the trade exit.

[@wavemaker2077]

0.01 lot is actually very good for beginners. In this case, the beginner can lose longer and can learn more since he is trading longer. He is also learning the forex market the cheapest way. Beginners are expected to lose anyway so better lose the cheapest way possible.

[@arunmohan317]

If you want to learn trading, you can probably go with a 0.01 lot size , If you're willing to take risk 1% risk everytrade , then you're stop loss in 30 pips means , $300-350 account size is enough, NOTE:- If you want to earn more you can go with a big accounts based on your risk per trade and stop loss

[@azizakaseruuzi206]

Sorry if you already explained this but how comes you're less likely to loose a lot of money if you invest more? Don't know about forex but usually with other stuff the less you invest in something, the less of it you'll loose? I'm 17, thinking about trading forex in a couple of years

[@Duomoinitiative]

To put it simply: If you have a larger account, it means you can open position sizes that only risk 1-2% of your account per trade, since you won't struggle with the minimum position sizes set by the broker/market. For example, if you have a small account size and the minimum position is 1 standard lot, that may mean you're risking (for example) 20-30% of your account. This leaves you over-exposed and putting up too much risk. It's also a psychological thing. The more buffer you give yourself, the less chance of you making rash decisions that will ruin your account. When you start learning how to trade, it will all make a lot more sense to you. It sounds complicated the first time you hear it, but this bit is something you'll pick up on quickly :)

[@riverscornelius4491]

Aziza Kas trust me , you need money to make money, investing is letting your money grow .

[@mr.futurestrader2115]

What brokers do you recommend for US people

[@briancooper7249]

Coleman Johnson, you can reach him via email:

[@wilmotsign2529]

nice video ,though its from 2016. tried trading with a 500 usd account and got burnt out twice. my income is js about 2k, guess illd have to save for some months instead. kindly advise thanx.

[@kylemcpherson7183]

I think its in the management. What leverage. What your exposure in percentages per trade.

[@kylemcpherson7183]

Over trading. over leveraged. over position size. adding to loosing trades. not keep your stops in place. has to be something with discipline you may not be sticking too.

[@verb4462]

lol with risk management and good money management you can never blew your account. Regardless how bad you trade.

[@fredricksmith59]

i know a couple hedge fund guys and they've all said the geniuses trade currencies. You should start a hedge fund! It's hard for an investor cus you have to understand the entire economic and political landscape of a country (interest rates, inflation, FDI). Then you have to predict what those will be in the future. Then you have to understand what country in the same region's economic and political landscapes are and will be. And then the same globally! . IS THIS TRUE ????????????????????????????????????

[@lomakevin]

so i need 2,000,000 kenya shillings to trade!? i beg to differ

[@Jomoranks254]

It's all about your risk management

[@DontAskMePlease830]

lmao

[@Jessebowyer]

@@wanderandwork how can i reach you man?

[@josephcapyei4237]

@@wanderandwork Its called the power of Patience and loads of it ...consistence man

[@trailerzone2848]

@pp bana 😂

[@pizzaman212121]

My brain just exploded

[@Duomoinitiative]

mine too

[@juliannegcheney7433]

*The software Latest 24Option is going to cost you nothing at all. As stated it is a free application as long as you join one of the recognized options trading brokers that this software works together with. Check it out now >>> **docs.google.com/document/d/14Dnxxhj2LAxuqd9TDZryPQhRsLVmz1ninP-zFd1V1gY/edit**

[@bryanpaul7515]

I don't really know how to make you guys believe Mr alec is the best I have know in this game... after alot of stress and hardwork. He make me smile again. If I can risk it and make it, you can also do the same. [e-mail]

[@DAN_ZEMAN]

Great advice from duomo/nick But once again... ignore these snakes below giving contact info for other training or get rich quick BS. (Sarah, Jullianne and Bryan) If you’re even close to believing these people want to make you money, my guess is you should stay away from the markets anyway.

[@DAN_ZEMAN]

And LOL... funny pizzaman!

[@carlschutte9221]

i love your videos man, compared to the other people you don't bullshit and you sound so real. I live in South Africa, so talking about 40k usd, that is R560 000, that is a hell of a lot of money to us. even the 12k usd. i worked at a church, so my salary was very little, it was R10000. that is 714usd. so taking all the calculations that you just spoke about, what would i have to start of with to make that R10000 a month. i will aim for higher after i get to this mark.

[@derrickbarker2024]

Finally a guy that says you can start an account with $100

[@fxcanva6284]

10$ also pal.. 😂😂😂

[@ktoma7314]

I know a guy who does high risk and started with just $20 and now he's at $9,000 in 3 months

[@AssasynCounterExtrem]

What the hell. Can you teach me? This is mental

[@Sergiolario]

Thanks a lot !

[@jlevine-lx5yd]

is it possible to trade with 0$