Im going to start with 100.00 USD in micro lots. My questions are as follows.
One micro lot cost how much assuming the currency is at 1usd?
I keep feeling like there is a catch to this forex trading. All I read is how so many people are making thousands a month off of a 100k investment. If this is possible who is on the losing end?
hi
1 micro lot means you face to 10 cent/pip…
how much it is cost to open 1 micro lot? depend on your leverage, but not much, you should have plenty room to even put multiple trades on, suppose 100:1 or more leverage.
for the second: if you have 100k account, making 3000$ a month is 3% ROI.
is it possible? yes.
after all, you make 3$ on your 100$ account is possible too. Chances are you hoping to make much more, maybe 20$ a month, maybe 50$ a month, even 100$ a month?..the very reason why ppl fail comes often back to this. being a newbie and set very high expectations. More often than not the big fish eats the small fish, the smart the dumb…nothing different in forex.
I’m not expecting to make even 5% my first few months; however, I am going to invest 10k down the road after learning on a micro account. I just find making large profit over and over again very suspect, because you can’t make money without someone else losing it. So my question is who is losing out when you are racking in profit?
Also I been doing a lot of trading with google stock the past few years and I’m just curious on how forex compares to trading stock.