How Much Money Do I Need to Start Forex Trading?

Do you need to be rich to start Forex Trading? Can you start Forex Trading with just $100? Or even better, can you start Forex Trading
with no money at all? In this video we are going to answer to a
very popular question: “how much money do I need to start Forex Trading?”, so let’s
see. Hello everyone, this is Federico Sellitti,
welcome back to my channel. Today we’re drinking water, very… very very
healthy for our trading. How much money do you need to start Forex
Trading? I get the reason why this question is so popular,
because this is a starting point, so you want to start at your best, you want to start knowing
the exact amount that you should invest in the Forex Market. So, today in this video, I’m going to try
to answer this question, but don’t expect me to say something “start with $200”, “start
with $500”, “start with $2000″… I’m just going to give you some guidelines
and some suggestions. So the tip number 1 that I want to say to
you is “Treat Forex Trading like a business”. If you want to open a coffee shop, for example,
you need to find a place, you need to buy the equipment, you need to hire people to
work in the coffee shop, you need to get a license and so many other things. I’m not an expert about this, but you get
the point of it, I want to say that any business is difficult. No one is giving you free money, no one is
giving you easy money and Forex Trading is no different. So, Forex Trading is not easy at all. I understand that there are so many advertisements
online, showing guys earning a thousand dollars in just 10 minutes or something like this…
it is very deceptive in my opinion and you shouldn’t believe in something like this. I tell you that Forex Trading is not easy
and you will not get a hundred or a thousand dollars in 10 minutes, or something like this. And the second tip that I want to give you
is directly linked to the first one, because we have said that Forex Trading is not easy
at all, so you need to consider the possibility that you will lose the money that you invest,
so the advice number 2 is: “do not invest money that you can’t afford to lose”. Let’s consider again the coffee shop business. If you want to open a business like that,
you wouldn’t invest all of your money, taking out a loan and start to have debts just going
all-in with your coffee shop business. And Forex Trading is the same, you don’t really
want to invest all of your money an, if you run out of business, you will not have a business
anymore, you will have debts and you will have a kind of feeling that your life is just
falling apart and this is the last thing that I want, I don’t really want you to start Forex
Trading and start to get in trouble with your life because you are losing money that you
can’t afford to lose, that is very important for your life. So, my second advice, and please keep this
in mind, “do not invest money that you can’t afford to lose”. Now, I tell you this because I started Forex
Trading in 2007, I was 17 at that time, and I started with €500. And I know that it doesn’t sound like a very
big amount, but for a 17 year old, €500 is a huge amount, especially for me, I don’t
come from a rich family, my mother is a housewife, my father has a very normal job, an average-paid
job, so €500 for me was a lot of money. I saved money for so many months to start
my career as a Forex Trader and I had this kind of positive mindset. I thought I could make a lot of money, I could
double my account every three months, I could go on holiday whenever I wanted, I could provide
for my family, I could take my girlfriend to fancy restaurants and so many other things,
but reality turned out to be different and I lost my money in 2 months. Now, with this, I don’t want to say that you
are going to lose necessarily your money. You can really turn your life around with
Forex Trading, but you also need to consider the opposite scenario, that you can lose your
money. So when you start trading, do not invest money
that you can’t afford to lose. Start with an amount of money that is ok for
you if you lose it. Let’s say $100, let’s say $500, let’s say
$2000… I don’t really know each financial situation,
so you know better than me, you know yourself, you know what you can afford to lose. Now, at this point, I know that you may have
a question: “what if I want to be a full-time trader and want to quit my job? How much money do I need and how long does
it take to build the necessary capital to be a full-time Forex Trader?”. I’m preparing another video for this and I
will put… I don’t remember the name of it… I will put a card, yeah it is card! I will put a card in this YouTube video. At the moment, I’m not allowed, but as soon
as possible, I will put a small card in the video and, anyway, you will find the link
in the description as well. Treat Forex Trading like a business and do
not invest money that you can’t afford to lose. Please keep this in your mind. Thanks for watching and, if you want more
contents like this, make sure to subscribe to my channel and I wish you a great career
as a Forex Trader and I’ll see you in the next video.

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