Hi everyone!
I’ve been studying forex for the past 3 months and developed a trading strategy that seems fine for me. I’ve been testing it on demo accounts and seeing consistent results, but now I’m ready to go live and honestly feeling a bit overwhelmed about how much to invest initially. My situation:
Developed a swing trading strategy focusing on EUR/USD and GBP/USD
Maintained 8% monthly returns on demo
Have $15,000 saved for trading (money I can afford to lose)
Always demo with the same amount you would use in a live account. If you plan to trade live with $5,000, then test your strategy on demo with the same $5,000. In my opinion, three months of testing is too short, I would recommend at least six months. An 8% monthly return target is too high, which suggests that your strategy will operate with high risk, potentially leading to your account being wiped out. You should also use an account size that allows you to properly size your positions to just 1–2% of your total balance. It’s crucial not to start on low timeframes. Stick to at least the H1 (1-hour) timeframe or higher, anything below that is not suitable for beginners.