I am studying and intend to start operating in the real in the coming months. My goal is to accumulate at least 1K USD to start on a micro account.
My goal would be to win 2% and lose a maximum of 0.5 ~ 1%.
I will start in USD / JPY or HK50 (night in Brazil) I cannot operate during the day.
I want to know from you if this is a good plan.
The money earned will always be reinvested, never withdrawn.
Do I need to make capital to reach a standard account? Or can I open a standard account with just 1k USD?
my focus would be day trading.
You can open a standard account with $1000. Looking for at least 2:1 risk reward is also a good idea but 1:3 and 1:4 is obviously better if you can get the trades. Have you tested it out on demo yet?
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I started on the hantec demo but my trial period ended. I opened another demo on XM. I will continue in the demo until I have 1K USD. I just wanted to know if this amount in a micro account would be enough to operate with a 0.5% risk, to test psychological etc. and what leverage to use?
You can risk 2% of the money you invest for each trade. And follow the 1: 2 risk ratio.
You must control risk. If you can’t control risk, you can’t make money from trading. Money management and risk management are needed to make money.