Making or losing money in the market depends in part on how much you put into your account. Two people can take identical trades, but one will grow his money, while the other will bust out. How could doing the exact same things at the same time but achieve two different results?
Most beginning traders start out with too little money. They overlooked the fact that even with a profitable trading system, there will be period you make money money, and the period you will lose money. And if the money you make more than the money you lose, overall you have a profitable trading system.
However, this is what most people overlook – Do they have the staying power to ride out the period of losing streak to start winning again?
Two traders start trading forex. One started at 500 dollars and the other started at $5,000. Based on the above criteria, the trader who started at $5,000 will have a higher probability of success over the other to grow his money in the forex market.
The general rule when you trade with an automated trading system is to start with at least US $5,000 and stick to a strict money management plan.
MetaTrader 4 Software
This software is for trading the forex market. It has a very robust set of indicators suitable for beginning traders and the professionals. Real time data is also provided. Best of all, you can get all of these for free.