Small Live Account Trading as "Demo"

Hi there !

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 ?

Hope this has made some sense :slight_smile:

Thanks,
Kenjii

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.

if i can ask what has that 50 turned into now?!

I’ve on board with with idea as well.

If you can not double 50 then you can not do it with higher amounts either.

Using real money makes it more FUN!

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.

Thanks for the replies guys !

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 ?

Thanks,
Kenjii

You should Google “100 Forex Brokers.” They have a great list of brokers with Mini and Micro Accounts as well the minimum deposit required.