Hi im new help need some friendly advice

its so little amount and there is no way for going aggressive trading lots size.

Im gonna do a demo account for sure for a long while :slight_smile:

How did you get on with your £10 account? Are you still trading?

good luck . but do not trade without analysis and try to control emotions when trading in a high lot.

I made a couple of bucks using those 10 bucks, but eventually lost all the profits and the amount that I invested ,

I am still trading, trying to figure out different strategies, in real time I only trade long term trends which lasts from a couple of weeks to months.

Hope this helps : )

Nice to know! Have a good practice, hope for the best!

Great; it’s a good plan! Hope, you’ll be able to make your profitable trading system very soon.

You need not to be sorry for such question. First try to get acquaintances with forex market via demos and various learning tools. And to start mini accounts are best. However, the mini account investment depends on the broker you are using. Brokers vary in their facilities.

I think, you are going to use this 10$ for learning purpose! Isn’t

Thanks. i am on the way , hope , everything will be fine.

its a good amount for start , good result will not come out with certainly but minimum live experience can be achieved, its sure

For me that is impossible.
Even with $100 or £100 it is still just to learn or develop a strategy.

But maybe, just maybe u can find some forex broker which
1Lot equal to 0.1lot standar.
So their 0.01 lot would be equal 0.001 Lot standar (or 0.1 microlot).
Then u can trade many times before blowing that account

Hope so! All the best, just one point: please don’t be rush!

Hello Uzzer, and welcome to this forum.

If you absolutely must have some skin (money) in the game, in order to maintain your focus, then look into a live account with Oanda UK. (oanda.co.uk, or oanda.com)

You can open a live account with a deposit of just £1, and you can trade any position size,
from one unit of currency up to the maximum allowed by your account balance and the required margin.

With a £10 starting balance, you could trade one or two units of any pair (including GBP pairs), without using an unreasonable amount of leverage.

You would be reaching for pennies of profit on most intraday or short-term trades – but, making money in this type of account is not the objective. Rather, the objective is (1) learning effective trading strategies, (2) training yourself to trade with discipline, following your own trading rules, and (3) training yourself to trade without losing money.

With only £10 between you and a total wipe-out, objective #3 will be especially critical.

You can do all that learning on a demo account, of course, as many on this thread have advised you to do. But, if you really need to have money on the line – even if it’s just pennies – then Oanda can set you up.

Here’s a copy-and-paste of part of a review of Oanda UK –
http://www.oandareviews.com/oanda-uk/

Oanda UK Minimum Deposit

The Oanda Minimum Deposit is $1 so the broker is a no Minimum Deposit forex broker. You can start forex trading with $1 on fxtrade or MT4 platform.

Oanda UK Address

OANDA UK Limited, Tower 42, Floor 9a, 25 Old Broad St, London EC2N 1HQ,United Kingdom

Oanda UK Phone Number

+44 20 3151 2050

  • 44 20 7101 1600

Oanda UK Broker Review Conclusion

This OANDA Review found a technology driven company that continues to lead the way in online forex trading by providing financial services and trading solutions to clients using cutting edge methods that focus on excellence and continuing customer satisfaction. Over the span of two decades, the OANDA forex broker has grown from a small tech startup company to a global leader in online forex and other financial asset trading.

Oanda UK Trading Review by ForexSQ



By the way, the pair is GBP/USD, not USD/GBP :grin:

2 Likes

It’s a good point, I think almost all of new traders lose their 1st account, so small amount is the best choice.

small or biggest if there is a real trading discipline, of course minimum result will come out.

what actually you think about trading discipline ? i think just controlling emotions when trading is a foremost part of discipline. but in my trading career , i failed so many times to keep it.

Discipline with a decent trading system. Thank you for your comment.

i think without trading emotions and maintain analysis always when trading is a real part of real trading discipline that always supportive to avoid unfortunate risk and losses. but we cant maintain this attitude during trading most of the time. as a result 90% are loser from here above all the beginners level.

practice in a long time in demo account can make us great discipline trader. so, it is more important to emphasis on trading in a demo but so many traders don’t believe the importance of this trading place at all.