What you can do is start with low leverage,1:100 use a stop loss of 10-15 pips ,expect to get knocked out ,one thing you have to let winners run to there Max,as your account starts to grow increase leverage .
Learning is the foremost ways to keep survive in this volatile trading place in a proper way. But sorry to say maximum traders who are particularly newcomers try to make money from here without learning. As a result they become loser when trading practically. It would be great if we choose the broker which always ensures best trading environment for learning this trading place by providing exclusive educational facilities.
Actually only due to lack of trading knowledge is not the foremost reason for failing , according to me most of them are loser because of emotions and they try to take revenge when fall a loss. Nothing without it there is no reason behind major losses.
Jimmblack posted: I started trading with $100. Then deposited $300 more.
Do you make money before deposited $300?
We should learn the power of compounding and deposited minimum amount ($100?) to start. If lost, we deposit again with $100. If our strategy works, let the $100 growth. At 10% per month return, $100 will be $300 in the 1st year. 2nd year it will grow to $900. 3rd year, it become $2700 ...... 4th, 5th, 6th ..... there is no limit .....
Mohammadi posted: The newcomers should take micro account but maximum traders take demo trading and after passing sometimes they lost interest . so it is more important to take decision when as a newcomer.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.