Going live!

I’ve been demoing for a while now and I feel like I’m ready to go live. But I don’t feel like going all the way. So I was thinking about starting off with my lot sizes at 10% of what I plan to trade with when I’m completely ready. So each pip will be worth 10 cents. Although that’s not much to lose (roughly $3-$5 per trade) I feel like it will give me some more experience and make it more real for me.

I remember something though. In The School it said it wasn’t a good idea to use a really small accounts. So what are somethings I should be careful about when using such small amounts($500-$200)?


I does state that in the school. I think the main reason for that is with small accounts it can cause you to over leverage and take on bigger risks than you should. However I will always recomend start small get your feet wet and go from there. Great job I wish you the best

Starting small, with a micro account, is a great way to introduce yourself to live trading. When you’re trading a live account, it’s a totally different experience as you can easily fall victim to your doubts and suffer as a result if you don’t have a solid trading discipline. After all, it’s real money and that changes everything.

Stick to your rules, keep your emotions in check, and remember: consistency is key.

shaqywacky, Hi, reading between the lines, you dont seem to have an established system or trading record, at best you will probably loose your money slowly, so carefully does it.

yes, I’m with Purple too, here are my questions for you,

Do you have a solid trading system that generating profits for you for the last 6 months consistencely?
If so, then go live. Otherwise, I think you should develope one for you.

Best of luck and happy trading!

Wait what?

Your going to risk 10% of your account at a time?

I mainly use a discretionary system. I do the best in ranging markets, where I can usually maintain my money(IE Winning 50% of the time, I just need to work on getting more from the wins). I don’t have any system like, say, the Cowabunga system mainly because I don’t find that as fun. Also, I hear that trading is very psychological and I’m not gaining very much(if any) psychological experience demoing.

Thanks for the warning. I’ll definitely be careful.

I expect to lose some in the beginning (the first couple months) but I should eventually get better. But sense I’m risking so little I could lose every trade for over 4 months.

Your going to risk 10% of your account at a time?

No, I’m trading 10% of what I would if I was really trading. So if I plan to have $1 pips, I will trade at $0.1 pips. So I’m basically risking one tenth the amount.