So people I’m a Nigerian teenager,I joined babypips 5 minutes ago or so,
I’ve been trading with a demo account for months and I’ve built some confidence.
I want to open a $10 account next month,you might wanna ask “why $10, isn’t that too little”?,well,for you guys then dollars is probably money for candy or biscuits,but $10 in my country is worth at least NGN3,670,and well my parents are getting more frugal by the day and this corona virus thing is getting outta hand.
To cut the long story short, I’d like to know how many dollars I can make on a $10 account every day (I can trade for 18 hours).
Thanks in advance 
.
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Welcome @dogfather! Folks can learn a lot here at BPs!
Short story long… very likely, none. Is this the best question to ask first? I would ask that you consider the following for what it’s worth.
What’s your strategy, time frame traded, and how much are you risking per trade? Based on this how many trades can go against you before your capital is gone?
What has your research (which doesn’t include all the course hawkers and 6 figure promisers) told you in terms of realistic earning potential on a $10 account?
Even if you haven’t done research… yet - which you could begin after reading this - What do you really… honestly… think is realistic in terms of % earned? Some folks say 100%, 50%, 25%, 2%. Everyone is different but if “big” returns were easy and realistic for us beginners I would imagine everyone would be cashing in… right?
You might be surprised to find that for the majority of retail traders, trading 18 hours a day is a better way to lose money than make it. Starting out,sitting in front of the screen for that amount of time probably has an inverse relationship to earnings.
FWIW, I think a $10, $30 or $300 account is an account for live learning. I am in this group and I’m learning to cut my losses and let my winners run. No scalping, no day trading, smallest size lot possible ( this depends on broker. It’s my understanding that Oanda allows trading sizes smaller than .01 but this needs to be verified.)
I think the only simple answers in forex (simple does not mean easy!!) Keep your risk to an amount you don’t mind losing, cut losses quickly and let winners run.
You’ve joined the ranks of live learning. Welcome!
KC
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You mentioned you’ve been demo trading for a few months. What % return did you make for each month? That would give you a little signal of what to expect if you trade the same way and the strategy is profitable long term.
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Your potential earnings are limitless. Your potential losses are limitless. Sorry, that’s the truth. No one can really answer this with any real accuracy. It can’t be answered.
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Your question how much money you can make with 10 Bucks is a little bit strange, cause you mentioned that you did demo-trading for months- so you should know how much money you were able to produce from demo- trading…
I’m a Nigerian and in the best position to answer your question. We are dealing with dollars here so leave our country CURRENCY out of this. I will give you a brotherly advice. You have three option with $10
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Buy foodstuff that would help in this lockdown period, 14days no be moimoi
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Save it
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Gamble with it
I have seen Forex guru convert $5 to $1000 in 30days. That’s the gamble I’m talking about. So with $10 you are in a more better position to convert that cash to $1000. But with your level of experience I’m sensing, you will blow your account. So we are left with either spending or saving it, please choose one base on your present priority.
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This is sensible advice.
But only trade with that you’re willing to lose.
Save your money till you have more. You will most likely loose $10 very quickly. If you tried with $10 you may have some success to begin but you would be risking 100% of your account each trade.
How about opening a cent account to manage risk better?
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Is that possible?
Thanks man,but I think I’ll risk it,
Okay, all the best.
It’s possible to do, I’ve grow a $20 account to $100 in 1 day and it’s not gambling.
I’ve learned 1 important thing: you can make money on every time frame at same manner using price action and the right tools. You can’t grow $10 using 4h or Daily timeframe and you have to trade using 15m or 5m and only on lowcost pairs. Learn the top down analyisis 
Work on this timeframes requires a lot of pratice, work, efforts and attitude and is not for all because you have to check a lot of things very fast and you must have the right knowledge for do it but it’s possible.
My advice is: study before and for now save your money. Try your strategy on a demo account and only only after try to grow your $10, not before.
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