I am currently experimenting with an account in similar conditions, true leverage being exactly 30. I wouldn't judge it as a failure right away. One should select the spots really carefully.. One problem arises, when it is time to increase lot size, and probaböy that is when the ESMA restriction hurts. Recommendation of trading in hgher time frames is BS -that is my opinion.
Please link your account here in myfxbook for us to see the evolution of such account.
Later, buddy, later... I don't have much capital so I have to try this way. I understand that there are much more viable and less stressful long term approaches, but they are not applicable for me.
You have a wrong approach, dude. You were not trading with high leverage, but you were discounting your salary, savings or whatever onto your trading. True leverage = trade size / account size. Now, if you want to continue with same style you should move on higher time frames. That is my conclusion of what I've been reading from your messages.
emotionaltrader posted: I JUST WANT TO SAY A MASSIVE THANK YOU TO ESMA FOR ALL THE CONCERN THEY'VE SHOWN FOR MY FINANCIAL WELFARE!!! …...Saved me a fortune in my electricity bill, more than I could earn under these stupid leverage restrictions anyway!!!
Cos you're talking £3 a day that's £24 per week that is IF AND A BIG IF all your trades go in your favour. That's hardly enough to make a living from.
You'd have to be winning 100% of the time!!!
Before you could start a small trading account with £100 and turn that into £400 @ 500:1 leverage within minutes, hours, within a day. At least at the end of the day you had the option whether to take profit or not.
I don't claim that it is possible to make living with a couple of hundred dollars or pounds. Maybe you had a different strategy than I. I am relying on compounding effect. Yes, the strategy used should have a high winrate.
Basically all ESMA and other regulatory bodies have done is stop people on lower incomes from trading the financial markets, in my opinion that is CLASS DISCRIMINATION & A BREACH OF EQUAL OPPORTUNITIES!!!
ONE RULE FOR THE RICH FEW AND ANOTHER FOR EVERYBODY ELSE!!! EVERYBODY ELSE!!!
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