@ontario, have you traded small accounts before? and if so, what small account you had ? $100 $200 or $1,000 $2,000 ?
I have traded accounts from £500 to £5000 and I have been trading about 2 years now. In response to your hypothetical no you wouldn’t trade that the same way. Risk management is far harder with smaller accounts. I can imagine much harder with accounts as small as £100 or less. My point was that if you are able to trade an account where 1-2% risk is possible with the smallest lot size permitted then scaling up is possible with equal stress as I experience with larger accounts of say £5000.
Excellent reply and we’ll said.
As a summary, the trading plan that is used on small account in which the smallest risk that can be taken is not less than 5% is very stressful, unless the broker will allow us to trade lot size of less than 1,000 units, in this case the trading plan used can allow us to take multiple trades in which each has a risk of no more than 2%
It is easy to say that one should not trade forex accounts. But let it be known that not everyone has the capital to trade a large account.
Over two years ago… I showed that trading and profiting from a small account is more than possible. This was obviously pre-ESMA’s low leverage “Global Blitzkrieg” which ensures that the disadvantaged can never take value from the advantaged… (Follow the Link Below)
$10 up to $700+ 0ver a 2 month period… The whole demonstration was recorded step by step to prove that it could be done, and has been done… Ignore the noise from the influencers in this forum that tell you unless you have a large account you are wasting your time… Absolute BS…
Woww thank you for this. I just started a $20 account and I hope to be able to get amazing results at the end of the day too.
What pairs are you trading that you’re yielding 100% profit in a week? Several of the majors are in upward/downward channels and a couple of them are consolidating at the channel limits.
I’d like to see what I’m missing.
My take: very high leverage, low margin requirements (read: extraordinary risk for extraordinary gain.) I think @Trendswithbenefits mentioned regulatory changes (ESMA) that may make doing the same thing with $10 more difficult now than before. CFTC regulations make it more difficult in the U.S. as well with leverage capped at 1:50. I don’t ever recall seeing a U.S. broker with initial margin requirements for a micro lot on any pair below $20.
You could probably grow $50 like that under tighter regulations, but you’d need to have a winning strategy and more courage than sense. It’s harder to throw away $50 than it is $10.
Pairs that I trade.
It is hard to blow your account with proper management. )))
All I need:
But what strategy is that ? Is it some kind of Martingale involved ? What’s your average risk to reward ratio on your trades ?
Totally agree with you here. The amount of money is neither here nor there. It’s the principles.
I was thinking about suretrader, but from what I’ve heard their fees are extremely high.
My journey on live account started from $1K I deposited it to Hotforex and started with scalping on liquid pairs using low leverage. I quickly realised that it is boring and tried a couple of trades with higher leverage. More profits alternated with greater loss and I realised that equity swings increased and some bad streak of trades will quickly drain my account to zero. So I stopped using high leverage altogether.
IMHO there is no difference whether you are using leverage or not. Just control your margin rate while trading. It is all about planning. Don’t get headache by overanalyzing with indicators. Some of them are very useless.
It is hard???
I beg to differ, I think it is pretty easy to blow your account which I am close to doing right now coz the account is holding unto a thin thread
No, It is not hard as you think.
Ingredients for successful trading:
- Analytical thinking
- Making orders according to your judgement
***Find someone who can trade for you
Next week’s (week 6) target 48000.
What do you think? Done 5 weeks. Left 3 weeks, may be less.
Thank you in advance.
Good luck with that