How to Start Day Trading with Minimal Funds

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DAY TRADING WITH MINIMAL FUNDS

Day trading is an appealing option

HOW TO START DAY TRADING WITH MINIMAL FUNDS

for many people who want to try and boost their income. Yet many believe that day trading requires saving up a lot of capital. This is not necessarily the case. Many brokers will accept a futures account with a starting balance of $1,000. For forex trading, this can be as low as $100, although around $500 is typically recommended as a minimum starting point.

Most online platforms for trading will have demo accounts that traders can use to practice with before they commit any funds. This allows you to become used to how the platform and the chosen markets work and see if your chosen trading strategy is likely to be profitable.

Start Small If your total balance of capital is small, this will typically limit the size of the trades you can make. But just because you have limited funds, does not mean you should place all your funds in a single trade. Sticking to smaller sums that you can afford to lose and slowly building up your liquid capital will prevent substantial losses.

Practice Before Committing Most online platforms for trading will have demo accounts that traders can use to practice with before they commit any funds. This allows you to become used to how the platform and the chosen markets work and see if your chosen trading strategy is likely to be profitable.

You can find out more about day trading by visiting the blog of LegacyFX. To learn about one of the most trusted and transparent brokers in the industry, visit the official LegacyFX website