Undercapitalised

Hey there! New to this forum and I want to know from the expert traders out there if there is a good strategy for small players to make profit in forex with just £50 initiall deposit.

Also are liquidity providers market makers in a sense and can they see our filled orders, stop orders and limit orders, they get the small fish and eat them up. Anyone had experience in forex manipulation? Just want to know before I dive in a pool full of sharks.

look into oanda for your broker as they have small start up requirements.

as far as market manipulation there are some good threads here on that and how to anticipate it.

http://forums.babypips.com/newbie-island/36328-what-every-new-aspiring-forex-trader-still-wants-know.html

You’re not undercapitalized at all with an account that size. You would more likely be overleveraged. Don’t trade much more that a nano unit or two, and you should be fine.

And since your stops, and limits are registered with the broker, yes, they can see them. But in reality, they have better things to do than to check out 50 pence stops.

Speaking from experience, any time I’ve had a stop tagged, it’s usually been my own fault;)

I think trading with that little will make you very impatient, which in turn makes you take stupid trades just to be in a trade, which in turn leads to losing your £50 pretty fast… But if you can manage to stay patient with that amount, then hats off to you… Good luck! :slight_smile:

Also “forex manipulation” by the banks to run through stops can be identified most of the time and is actually a great opportunity to make money… Since you can use it against them.

If your go with Oanda… They make available their order book which shows all the open orders of their clients… If you were really paranoid… You can keep an eye on big clusters of orders and avoid that area if you think “manipulation” will occur to take these out…