One thing that most beginners do not realise is that many traders eventually lose their first amount of capital deposited to trade forex. As this is an unspoken truth, it is only wise for you to trade with money you can afford to lose. Many beginners love the thrill of roller coaster ride in forex trading. Since they are new to the game, they get excited of the money they can potentially make in forex trading, it feels as though it is an online casino and they ultimately lose their money to the market.
Hence, it is a must to use money you can afford to lose such that it will not affect the lifestyle of you and your family. Please do not risk your life saving to trade forex, start with a reasonable trading account and slowly increase your trading capital only if you can consistently make money in 3-6 months of trading. For beginners, do consider starting with demo to learn the basics, after which, start with a live account with $500 to $1000.