I'm thinking about opening a live account. I have 1000$ to start with, and that puts me in a micro account, and if i follow recommendations i should trade 0.01 lots per trade. This gives me 5$ used margin per trade, but the pips i need to make any money is just..depressing. 100 pips is about 9$ with this lot size.
Anything I am missing here? I know 1000$ is not alot for some of you, but that's what i can manage to invest. Any recommendations for someone starting out with 1k?
With 1000$ you can do that if you trade 0.01 lot it's never make you scare. But you should manage account maximum 5% with each transaction and 20% in all, that mean 200$/1000$.