Poll: My first deposit was

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  1. #21
    Moderator Kolyo's Avatar
    First and even second and third deposit is a learning tuition If you don't want to pay them than just trade on demo as mush as you can before you master trading habits, but it is difficult to master them before you enter into deep water and feel by yourself what it is to trade real account. That's why you should learn!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  2. #22
    Senior Member DaVychi's Avatar
    Very painful story for me,one of the bigest mistake in my life...

  3. #23
    Legendry Member milos's Avatar
    The best solution is to practice a demo account at minimum three months. You can find out are you for BO trading or not?

  4. #24
    Junior Member BinaryScamSniffer's Avatar
    Most of the brokerage firms have a minimum account, this limit being on the higher side if the broker is perceived as one for professional traders. Not all the brokers have such a restriction, though.
    On the other hand, the golden rule says that you must invest as little as possible before the first withdrawal. The problem is that many scams appear to be legit for long enough and have a professional attitude, showing no red flags or reasons to complain. The decisive point, when you truly understand if it is reliable, is when you can take your money without any problems.
    To conclude, the very first deposit must be as low as the minimum brokerage account, usually $200. However, with such a humble deposit you will be very limited in options, which is definitely going to result in a less considerable revenue. Under this circumstances, after the first withdrawal, invest at least three times as much if the reliability of your broker isn't under question anymore.
    Another point worth mentioning is that, while a strong account gives you more choices, don't keep too much neither. It touches experienced traders as well. The recommended upper limit is $20,000. For example, CySEC does remunerate the victims of fraudulent CIFs. They have an INVESTOR COMPENSATION FUND (ICF), but even if your losses exceed this level, you cannot be remunerated more than $20,000.

  5. #25
    Rookie Member
    I will not forget my first deposit via tradervc I put 100$ and quickly made 15$ lol...

  6. #26
    Moderator Kolyo's Avatar
    The poll is showing more than 70% of traders' initial deposit is less than 500$. This is very very low in any means and one of the main reasons of such a big percentage of losing traders right from the begging of their trading career. Under-capitalization is maybe the biggest issue for new traders and a big mistake when starting real trading. To keep risk under 2% when you have minimum trade size of 20$ you need at least 1000$ in your account. Of course if your broker allow 1$ trades you can start safely with only 100$, but we know most traders prefer brokers with higher minimum trade size and than they are forced to break their money management rules..
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. Thanks GWE thanked this post
  8. #27
    Legendry Member milos's Avatar
    Quote Originally Posted by Kolyo View Post
    The poll is showing more than 70% of traders' initial deposit is less than 500$. This is very very low in any means and one of the main reasons of such a big percentage of losing traders right from the begging of their trading career. Under-capitalization is maybe the biggest issue for new traders and a big mistake when starting real trading. To keep risk under 2% when you have minimum trade size of 20$ you need at least 1000$ in your account. Of course if your broker allow 1$ trades you can start safely with only 100$, but we know most traders prefer brokers with higher minimum trade size and than they are forced to break their money management rules..

    Properly used risk management 2-5% per trade.

  9. Thanks Margaret, GWE thanked this post
  10. #28
    GWE
    GWE is offline
    Rookie Member
    I'm new to this game, lost already €250.00 in 2 hours. Therefore is looking for a mentor or help and stumbled on this guy: Fedor Vsevolod

  11. #29
    Master Member SeasaltMcFish's Avatar
    If he wants you to register with a certain broker, or asks money, it's not a good idea. Probably scam.

    Better learn first (our School f.i. = free) and only trade again when knowing what you do.

  12. #30
    Senior Member DaVychi's Avatar
    First off all it's not a game, Poker and Casino is game, in trading world no any shortcuts, education, patience and practice. And after good while may positive result can be expected...

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