Been reading the forums for a long time now so figured it was about time I made an account and started asking some questions !
I’ve been demo trading for a few months now and have so far seemed quite successful with the system I have been using. I want to get into live trading shortly with a few thousand dollars to start with, but know I’m not quite ready to take the final plunge just yet. I was thinking about opening a very small account ($100), scaling down my lot sizes yet keep trading the way I have been on the demo account to ease my way into things and get a small taste as to what live trading is all about.
Does this sound like a good idea ? To do the rest of my “practice trading” on a very small live account ?
I would recomend it. With Oanda you can trade nano lots. I started with only $50
prove to yourself that you can trade that 100 and turn it into 1000 before you dump thousands into an account. unless thousands is just spare pocket change to you.
I think it’s a good idea.
I started with only $1000 at IBFX.
When you win or lose while demo trading you really don’t care and don’t learn as much. With a live account you pay a lot more attention and get a feel of what it’s like to win (and lose) real money. Even if it’s only pennies.
I think demo trading is great if you’re trying to learn a new platform, but other than that it’s best to see how you do with real money. But make sure you risk very little of it.
This is exactly what I was talking about. Not to make money, but just to prove to myself I can trade with a live account. I guess the 2nd question would be, what is a decent broker to go with for such a small account ?
