Have I got the correct level of Risk and money management?

Beginner Questions
1

Ok thinking of going live, i am looking at a $100 (US Dollar) micro account, with 1% risk which i think is 0.01 (micro account) per trade.

I am only looking at having one trades live at any time, but just for my thoughts, is my money management looking good like this?

I just don’t want to go too risky. My plan is once i do well at running this small account, i will add maybe $100 to it per month and build it up slowly?

Does this sound like a good plan?

Thanks Guys and Gals.

2

Yup, this is a sound plan! BTW, best of luck in trading!
Cheers:21:

3

Starting with a small account and putting on small positions (maybe even risking less that 1%) is definitely the way to keep your trading education tuition as low as possible.

4

Thanks guys, glad i got this right, i do plan to increase the risk maybe to 3% max, but not for a long time, not until i am very certain of myself !

:10:

5

Hey Sandybeach, what trading platform are you using?