My name is Nicholas , I am a beginner in trading… I love forex because that’s the only place you can make much money as much can …but question is I started trading with $250 and I made a profit of $ 200 in addition making $450 … but now I lose everything now am having only 72 dollars in my trading account . Can I trade with that small to make huge profit someday to come ?
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Sorry to hear of your problems Nicholas.
Its not impossible to trade a small account to profits but it must be very slow. You must take risks with $72 which are not bigger than risks you would take if you had $72,000. Think about it in % terms, not $.
In both cases you will need a strategy that has as a feature some way to protect a losing position from wiping out your account, such as a properly identified pre-set stop-loss order.
Do you want to post about your strategy?
Sorry to hear about what happened to you Nicholas. Did you start with a demo account first before going live?
I guess you were excited of making the initial profit and started betting more money. That’s something that happens to a lot of people, not only newbies.