Hello Bitcoin talk community!
The above question is what many people who are new to trading hear, I've also been advised to start with a large sum of money which I couldn't afford then .
But looking at it now , is it really advisable to start trading with a lot f money? Or just start with whatever you can afford?
When talking about trading and the amount of money that is best used to execute a trade, the first thing that should come to your mind is using an amount of money that you can afford to lose, so I want to ask you, can you afford to lose the huge amount of money in question without it having a significant impact in your finance?
If it's a money you can afford to lose, then it's ok, but if it's an amount you cannot afford to lose, then I Advice you reduce it drastically to an amount you are will to lose, so that if it goes against you, you wouldn't be bothered at all.
Furthermore, I suggest that as a newbie trader, the best thing you can do for yourself is to invest in yourself in acquiring more knowledge on technical and fundamental analysis and all that is required to be a profitable trader, not by diving into the market when you have only little or no knowledge about the craft.
Another suggestion I have for you is to practice with demo trading for now till you have more clue about the market before diving in with your hard earned money.