openen my first live account with Forex.com, good broker no problems. I have to confess that I didn’t listen to this forum and only put $250. After a few trading days(day trading) I am even (exactly $250.00 lol), had some ups and downs. Downs mostly due to fear, got out of trade too early, didnt follow the system. But I think its good to trade with real money cause you discover your inner self better. Also its pretty cool to invest $10K of Real money and watch the profits grow, very rewarding. I should post about my system sometime. I am pretty excited anyway, stay cool, don’t loose your stake,
kiwipipper
Congrats buddy. and agree with vatslav, its fun trading in real then rather demo. Which broker you trading with ? i am with STIFX (www.stifxonline.com), happy to trade microlots too as well… Forex.com is a good broker too correct.
Good luck with your $250.00. I really recommend NOT OPENING a live mini account, with anyting less than about $3,500.00. Seriously!!!
With $3,500.00, you could open a 1 mini lot position. And using Day charts, even if your position went against you and hit a S/L of say 100 pip loss. Thats a loss of $100.00 from your account. Which is slighly less than the 3% many people recommend as being your max risk on a trade.
yeah you’re quite right , can’t really use any money management with only $250, However I really wanted to try it out for real and also I risk 15pips on each trade + 2-5 pips spreads, so I risk about $20 per trade so it’ll take 10 bad trades in a row to wipe out my account. I mean 10 unsuccessful trades in a row is quite a lot.
i think trading a small account like kiwi is brilliant. 1 mini lot is just 1$ per pip on most pairs so it takes some of the sting out of mistakes. i opened a live account because i got so bored with demo accounts.
anyway, stay cool, don’t loose your stake,