Account Balance vs Account Equity

Hi everyone,
I’m super new and I just started my long journey into FOREX
I started my Account with IC Markets with £20 just to check how it’s working and it was the money I was ready to lose at the moment .
Now I have an account balance of £46.41 and an Account Equity of £219.16.
In my newbie eyes it looks I’m doing good but how do I know if i’m really doing the right things or not?
Can I also convert equity money into balance money?

Thank you

When you were seeing the Account Equity at 219.16, had you any open position?

Hi and thank you for your reply.
Yes I have some open positions

No stop loss and take profit levels, basically you opened transactions and wait what happen :wink: Finish BP education section, it will be good start :slightly_smiling_face:

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Yes, by closing your trades. Even though you have a small account, and your trades were successful, the absence of a S/L means you could blow your account if the price action turns against you. As for T/P if you’re following your charts, you have choices between taking profits or letting the trade run.