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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