How well do you think i should manage 300$ ?
Oct 11, 2013 at 08:31
Vistas 1,220
18 Replies
forex_trader_155436
Miembro desde Oct 10, 2013
posts 4
Oct 11, 2013 at 08:31
I am a newbie who has learnt most of the basics of FX trading , i want to go live and my starting is only 300 $ , how well do you think or what will be your possible best way i should manage this amount. Counting on your wonderful suggestions .
Thank you
Thank you
Miembro desde Oct 17, 2012
posts 55
Oct 11, 2013 at 18:17
Hello,
Wise and strictest risk management is the only key to success in Forex trading.
If you want to trade manually, then you must be watching your computer screen for price movements during trading hours. If you do not do so, then you have high chances of losing money!
In manual trading, we would suggest you initially trade only micro lots (0.01 L) until you get enough experience in your manual trading style.
If you would like to use our trading signals, please check our latest posting at this link:
https://www.myfxbook.com/community/new-traders/free-trading-signals-from-real/646404,1
If you would like our assistance in trading your capital, please check our program and campaign at this link:
https://igg.me/at/invest-now-make-money/x/3090507
Thank you.
Wishing you all the best!
Wise and strictest risk management is the only key to success in Forex trading.
If you want to trade manually, then you must be watching your computer screen for price movements during trading hours. If you do not do so, then you have high chances of losing money!
In manual trading, we would suggest you initially trade only micro lots (0.01 L) until you get enough experience in your manual trading style.
If you would like to use our trading signals, please check our latest posting at this link:
https://www.myfxbook.com/community/new-traders/free-trading-signals-from-real/646404,1
If you would like our assistance in trading your capital, please check our program and campaign at this link:
https://igg.me/at/invest-now-make-money/x/3090507
Thank you.
Wishing you all the best!
No manual trading can compete with automated trading by intelligent robots. Manual trading is influenced by human emotions, whereas robots have no emotions and can take a 'calculated decision' at any moment.
forex_trader_155436
Miembro desde Oct 10, 2013
posts 4
Oct 12, 2013 at 09:50
@Curan, i will be using purely Price Action and candlestick to execute mu trades
Oct 12, 2013 at 21:07
Being new to trading I would recommend you to open to accounts
1. Real - 300$
2. Demo - 300$
Work on demo account and tryout different basic techniques such as reading candlestick patterns, trendlines, fibonacci etc.
Once you feel comfortable about a trade, execute it on demo first and then on real account.
Try to put smaller trades and gain small pips in earlier stages as it is a smaller amount and you do not want to blow it up all.
I hope this is helpful to you.
1. Real - 300$
2. Demo - 300$
Work on demo account and tryout different basic techniques such as reading candlestick patterns, trendlines, fibonacci etc.
Once you feel comfortable about a trade, execute it on demo first and then on real account.
Try to put smaller trades and gain small pips in earlier stages as it is a smaller amount and you do not want to blow it up all.
I hope this is helpful to you.
Be among the very successful Forex Account Managers.
Miembro desde Nov 21, 2011
posts 1718
Oct 14, 2013 at 15:54
comextradingllc posted:
'If you want to trade manually, then you must be watching your computer screen for price movements during trading hours. If you do not do so, then you have high chances of losing money!'
=> Stick to the screen is the best way to loose quick and fast as you will want to change your trading plan 10 times while your order is currently open. Guessing where will candlesticks close is the best way to suffer watching screen.
Rule number1: Never trust anyone that provides advises and then promote in the same message to subscribe to his own signals.
If you do apply this... you will save a lot of money!
Oct 14, 2013 at 19:44
With $300 it's hard to make decent money unless your risk management skills are sacrificed.
Use micro lots and do not trade more than 0.01 lots per trade. Ignore the $ amount when looking at positions and judge your performance by pips.
Regards
Steve.
Use micro lots and do not trade more than 0.01 lots per trade. Ignore the $ amount when looking at positions and judge your performance by pips.
Regards
Steve.
forex_trader_155436
Miembro desde Oct 10, 2013
posts 4
Oct 14, 2013 at 19:44
CrazyTrader posted:comextradingllc posted:CrazyTrader , thank you soo much for the advise
'If you want to trade manually, then you must be watching your computer screen for price movements during trading hours. If you do not do so, then you have high chances of losing money!'
=> Stick to the screen is the best way to loose quick and fast as you will want to change your trading plan 10 times while your order is currently open. Guessing where will candlesticks close is the best way to suffer watching screen.
Rule number1: Never trust anyone that provides advises and then promote in the same message to subscribe to his own signals.
If you do apply this... you will save a lot of money!
Miembro desde Oct 17, 2012
posts 55
Oct 14, 2013 at 19:47
Hello CrazyTrader,
We believe the best thing to do is not to give advice or help to anybody.
Let each Forex trader find his success through trial and errors.
But we are sure there are optimistic traders out there who can easily see a good offer or opportunity.
Best wishes!
We believe the best thing to do is not to give advice or help to anybody.
Let each Forex trader find his success through trial and errors.
But we are sure there are optimistic traders out there who can easily see a good offer or opportunity.
Best wishes!
No manual trading can compete with automated trading by intelligent robots. Manual trading is influenced by human emotions, whereas robots have no emotions and can take a 'calculated decision' at any moment.
Oct 20, 2013 at 07:33
sgbdis posted:
With $300 it's hard to make decent money unless your risk management skills are sacrificed.
Use micro lots and do not trade more than 0.01 lots per trade. Ignore the $ amount when looking at positions and judge your performance by pips.
Regards
Steve.
Very good advice. Cheers!
Oct 20, 2013 at 07:33
comextradingllc posted:
No manual trading can compete with automated trading by intelligent robots. Manual trading is influenced by human emotions, whereas robots have no emotions and can take a 'calculated decision' at any moment.
Best wishes!
If these robots were so intelligent, there would not be anyone here on this forum trying to find out how to make money!
Miembro desde Oct 25, 2013
posts 7
Oct 25, 2013 at 13:36
optimofx posted:I'd say this advice is way to useless already. 2% of account per trade it is like 6$ in this case. How do you plan to make money with this risk. The only way is to open like 5-7 trades, but it will harm even more than risking over 2%.
My first recomendation never risk more than a 2% in ur trades. NEVER ¡¡¡¡¡
Miembro desde Nov 12, 2013
posts 5
Nov 12, 2013 at 10:59
optimofx posted:
My first recomendation never risk more than a 2% in ur trades. NEVER ¡¡¡¡¡
This will lead to a low but stable profit. Congratulations!
Jan 02, 2014 at 07:38
It doesn't matter if you start with $300 or $300 000. You need to create a trading plan that you will follow. Define how you observe markets, how you identify possible entry opportunities, where you place orders and how you calculate TP and SL. Risk constant % of your total capital.
What matters is consistency and %. Due to compounding effect your returns from every trade in $ will increase/decrease very quickly.
What matters is consistency and %. Due to compounding effect your returns from every trade in $ will increase/decrease very quickly.
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Jan 24, 2014 at 22:46
Manage $300?
First, Choose the best leverage for $300. 1 : 500 - 1 : 2000 is the best for this amount.
Second, Choose the best lot size to trade. 0.03 - 0.05 lot is the best for this amount.
Third, Dont open a lot of trade. 1 - 2 is enough.
wish you success brother.
First, Choose the best leverage for $300. 1 : 500 - 1 : 2000 is the best for this amount.
Second, Choose the best lot size to trade. 0.03 - 0.05 lot is the best for this amount.
Third, Dont open a lot of trade. 1 - 2 is enough.
wish you success brother.
keep smile
forex_trader_113121
Miembro desde Feb 20, 2013
posts 26
Feb 01, 2014 at 15:41
with 300$, I think that the cent account of exness or nano account of alpari is suitable for you. You gonna have a 30.000 USC to trade. It will be better for you :)
May 06, 2014 at 20:51
Manage your $300 account the same way you would your $300,000 account. Determine the amount you are willing to risk to your account on a given trade (1-5% is the general recommendation, depending on who you talk to). I personally do 1.5%.
Then,
1. Determine your stop loss level
2. Use a calculator like at forexcalc.com to determine your position size.
Especially when starting out, risk management is the most important piece to learn. This way, you will theoretically never lose all of your account. As it grows, you can add funds as well.
Then,
1. Determine your stop loss level
2. Use a calculator like at forexcalc.com to determine your position size.
Especially when starting out, risk management is the most important piece to learn. This way, you will theoretically never lose all of your account. As it grows, you can add funds as well.
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