Supposing you have a starting capital of 300$ to enter into Forex trading; how will you start it ? Taking Risk Management into consideration…
A leverage of 1:1000
Risk : 1-2%
Starting capital of 300 is not much - but I myself wouldnt give more real money to start. Im new to forex too but I really think that a broker that offers a 1:1000 leverage can´t be to serious. A leverage from 1:500 is already very effective and some brokers offer it but also only for small accounts (up to 2-5k). If account grows leverage will be set to 1:200 and so on.
Most will tell you not to start with such a small account but I tested on a demo a starting of 150 with leverage 1:500 and started trading 0.01 . After arriving 200 I went on with 0.05. I doubled account to 300 within 1 and a half month without riskin to loose all the money. I think if youre a patient trader Its also possible to start with a small account
[QUOTE=“SophisticSyllabusSnail;548852”]Starting capital of 300 is not much - but I myself wouldnt give more real money to start. Im new to forex too but I really think that a broker that offers a 1:1000 leverage can´t be to serious. A leverage from 1:500 is already very effective and some brokers offer it but also only for small accounts (up to 2-5k). If account grows leverage will be set to 1:200 and so on.
Most will tell you not to start with such a small account but I tested on a demo a starting of 150 with leverage 1:500 and started trading 0.01 . After arriving 200 I went on with 0.05. I doubled account to 300 within 1 and a half month without riskin to loose all the money. I think if youre a patient trader Its also possible to start with a small account[/QUOTE]
Thank you for reply, i really needed it . My capital is 300$ and i want to go live . Most EA’s are saying its not enough to start trading and of course i dont have 1-2k to start either.
This is what my broker is offering me. This is Micro Account
The smaller you’re starting capital, the more you need to test and be sure about your trading plan.
Forex Money Management
You can plug your starting capital and see what happens when you use different percentages and different leverages
If it were me, I would first open several demo accounts with $300 and use different leverages for each. Take the same trades you would trade if you were live and trade them in the demo accounts so you can see how the different lot sizes and leverages work
[QUOTE=“gp00053;548881”]The smaller you’re starting capital, the more you need to test and be sure about your trading plan.
Forex Money Management
You can plug your starting capital and see what happens when you use different percentages and different leverages
If it were me, I would first open several demo accounts with $300 and use different leverages for each. Take the same trades you would trade if you were live and trade them in the demo accounts so you can see how the different lot sizes and leverages work[/QUOTE]
Amazing…
capital : 300$
Risk : 2% = 6
Pip value : 0.1$
R:R = 1: 3
Target pips/week : +100pips
S/L must be lower than 40pips away from Entry
Leverage : 200:1
Trade/week : 3 minimum
No. Position : 3 Micro’s
Margin : 15 $
OMG its gonna take me forever to see profit rolling in