You Must Be Rich to Start Trading
Don’t get me wrong: No one should be speculating with money he or she can’t afford to lose. If you’re interested in day trading stocks, you must open an account with at least $25,000, which is more than most people can lose without suffering major repercussions. You shouldn’t take out a second mortgage or bet the kids’ college fund on a trading strategy, regardless of how confident you are in your abilities. Trading is stressful enough without worrying about the potentially devastating impacts of losing money if you don’t have the appropriate means.