first ,My English is weak. excuse me for all.
i have a micro account equal 20$.
how many s/l do i have?
first ,My English is weak. excuse me for all.
open a demo account and learn to trade. while you do that save money coz $20 is not nearly enough to trade with.
When you are ready to trade make sure you use an ECN broker because THERE IS NO FIXED SPREAD IN FOREX.
when you ready to start trade, you can look for ecn broker for tight spread (you can search the google search engine for the broker ranking)or other broker will do. The most importent that you choice a webbrowser platform that much convient to you. YOu not need to worry about you computer server because their platform installed under their server. Next open with a/c with $10,000 (if you don’t have this amout ,then you can open live with $5000) with leverage 1:100 for bettter profit. Of course by now you must perform good winning trade on you demo platform. For the example for the $10,000 live a/c , all you need to do to create you first trade with 1 lot (100,000) . Because you are beginning you just try to get profit about 20 pips on the single trade. That about $200 profit for 20 pips movemant. You can easier make $1000 on the single day. If the movement in your direction ,then you can adjust your take profit &stop loss for a greater profit. Also just try to choise 2 or 3 currency that suite to you. Whatever trade that you proceed , do insert bolinger band, setup ema, Macd, slow stoc rsi indicator. ( read &understand more about this indicator) . look at divergence for reversal trade for huge profit.
Well good idea with starting with a low amount, though $20 isnt alot. I would suggest you take that 20 an open an account with oanda and trade micro lots or basically 1 cent a pip, till you figure out what your doing.
You can bet that $20 will be gone in no time, so just take your time, read through the school as often as you need till yo0u have a good grasp of what your doing. Also vist the holy grail section of this website to find some trading ideas and techniques…
And then… practise practise practise. I would suggest you keep the $10k dollars others have suggested in your bank account unitl you can at least trade your micro account profitably for 6 months minimum.
If you have to ask, you’re not ready to trade live yet
Have you gone through babypips school? They give you all the basics, it’s really a must to know what’s there if you’re considering to trade seriously instead of gambling (which is what you’re doing with a $20 account).
To get started in the forex trade, the first thing you need to do is get yourself motivated, because you will spend a fair amount of time reading, learning and understanding new concepts. However, there are so many places online these days where you can get tons of information via seminars, ebooks, forums, and special offer packages.
hey mate - open up an OANDA demo account to test your stuff.
ive been trading shares and index’s for a while now, but forex is a new thing to me, so I’ve opened up a demo account will will test my strategies here until i see a decent profit.
There is no use in wasting money on learning when you can do it for free! i’ve lost my fair share on what was essentially gambling - just take your time.
Basically almost every new trader has been here before, wanting to jump straight into live trading after some couple of Profits demoing. But buddy take up the advise from everyone here, practice more on the demo account after school of pipsology before going in live else the $20 would definitely end up in your brokers coffer
8 year old thread, OP has never returned so doubt he is still trading
[QUOTE=“Pro King;761098”]Basically almost every new trader has been here before, wanting to jump straight into live trading after some couple of Profits demoing. But buddy take up the advise from everyone here, practice more on the demo account after school of pipsology before going in live else the $20 would definitely end up in your brokers coffer[/QUOTE]
Lol this is so good
Beginners should prefer to make a small start and a great learning. Money management is too important in forex market.
I would say trade any amount what you want, like a cowboy. When we offer $20 dollars of that trade, it is understandable that Capital is ready to lose or to win that certain amount. If you loose 20 dollars, try to reload another 20 dollars to learn. Loosing more to achieve risk management using real money. Once you learned emotional trading, you are set and ready to pippin hard.