Hello there!
I’m opening up an account with 100$ /for learning purposes/. So I read I could open up a nano account. I’m at loss about how leverage margin call, SL and everything else fall in with nano accounts. Anyone please?
I’m going to trade daily TFs so I’m guessing I need to place my SL abit further. I want to be able to trade without having to worry about tight SLs.
I think you are taking the right step, learning how to trade in a live account. Leverage as well as margin call and SL work the same as in any other account. The margin call level depends on your broker, SL comes from your risk management and leverage always works the same. Good luck in your forex trading.
You can start with 0.01 lots for the moment. But try to maintain risk per trade below 3% which means 30 pips stop loss
Don’t worry about leverage and margin calls at this time. Just stick to a safe trading strategy as suggested by members. Before every trade, make sure you know how much you are willing to risk to gain a certain amount (2:1 or 3:1 etc) AND what are your chances of success on each trade e.g. 50%. Simple Maths often leads to better understanding.
30 pips SL or 300 pip SL? I make it 300 pips at 3% of $100 trading nano lots.
I only want to risk 1% for every trade I take does that mean my SL will be 100 pips away ? how about TF ? can I stretch TF as far as I want to ?
That is sensible and yes you are right, its 100 pips if you trade a nano lot. I would suggest sticking to 1D and 4H timeframes as there are less wild swings. What you will find however is that you cannot trade certain currency pairs like GBPJPY very easily with a 100 pips stop as its a lot more volatilie. One thing you should be careful of doing is putting a trade on with a 100 pip stop when the right decision is for a 110 pip stop. One side of support resistance line is very different to the other and that extra few pips makes a world of difference.
Good Luck Bud!!!
Good luck mate, this is what I did when I first started trading, started with $100 got a $50 bonus and even though I lost all of it I have to say that the experience was priceless. What I learnt during that period still helps me today make the right trading decisions.
IMO Demo 2-3 month until you fully understand how the forex works before go live was good for ye
[QUOTE=“Ayyaz7;595561”]Good luck mate, this is what I did when I first started trading, started with $100 got a $50 bonus and even though I lost all of it I have to say that the experience was priceless. What I learnt during that period still helps me today make the right trading decisions.[/QUOTE]
Thanks !! That was motivational 
[QUOTE=“MoneyNVRSleeps;595538”]Good Luck Bud!!![/QUOTE]
Thank you !
In my opinion, small deposits is downright giveaway of your money to the broker or market. If you are not genie or diviner chances are very low to predict trends one after another and substancially increase your deposit. With smaller deposit you should shrink your leverage to stay alive but make up with frequency of in-profit trades which is almost impossible for newbie.
I had a similar experience. Mine was better because my first 100 bucks was completely free, it was a bonus from posting on forums. I used my bonus money to learn more, though I lost all in the end. There is no better feeling than doing something real.