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  1. #11
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    Re: is micro account the best way?

    Hi,

    Using a micro account is a far more realistic trading experience than a demo account and I would definitely recommend using one before going on to a standard account. You are using real money and can begin to feel the real emotions that go with doing so.

    Good luck to all beginning to trade with their hard earned money and may you be successful.

    Mike

  • #12
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    Re: is micro account the best way?

    Hi,

    I am ready to risk USD $250 and would like to know if someone could point me to a broker
    with Mini accounts on MT4 trading platform.

  • #13
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    Re: is micro account the best way?

    fxdd.com accepts $250 and us MT4 platform. You should try it. My experience so far been okay, tight spread on common pairs like eur/usd (2 pips). However during news connection is important, you may have to keep trying entering the trade many times until they accept, but i guess this is common to any brokers.

  • #14
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    Re: is micro account the best way?

    I do agree to most people here, that micro account is a good way to 'really' experience the real trading, much better than demo. Emotionally you are not attached to the money in demo.

    Myself started a micro account again ($300) and tried to build from there. My thought is if I can't make it to $1000, then there's no point putting more money in it. You will only going to blow your account. (to loose $300 is not much, but to loose $3000 is quite painful for some ppl)

    And technically speaking if you can turn $300 to $1000, then you have no problem turning $3000 to $10,000, then even more from there.

  • #15
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    Re: is micro account the best way?

    First of all we need to define what you mean by a "micro-acct" (each dealer treats this unique).

    This is one interpretation:
    Code:

    Standard : Lotsize 1.00 = 100,000 units (10 bucks per pip)
    Mini: Lotsize 0.10 = 10,000 units (1 buck per pip)
    Micro: Lotsize 0.01 = 1,000 units (10 cents per pip)
    Nano: Lotsize 0.001 = 100 units (1 penny per pip)

    Now here is another interpretation: (IBFX Mini Account)

    Code:

    Standard : Lotsize 10.00 = 100,000 units (10 bucks per pip)
    Mini: Lotsize 1.00 = 10,000 units (1 buck per pip)
    Micro: Lotsize 0.10 = 1,000 units (10 cents per pip)
    Nano: Lotsize 0.01 = 100 units (1 penny per pip)

  • #16
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    Re: is micro account the best way?

    Demo trading is OK but does not prepare you psychologically for live trading. So I would advise you to move to a micro or nano account once you have gained a basic knowledge of trading.

  • #17
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    Re: is micro account the best way?

    How about nano-lot account? it's hard to find trustable broker with nano lot, i usually use IBFX, but since there are too many new regulation in 2009 i'm thinking to stop trade with IBFX, any suggestion ?

  • #18
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    Re: is micro account the best way?

    I think micro account is the best solution for money management

  • #19
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    Re: is micro account the best way?

    micro account would be adjusted if your funded money is limited, it based on whether how much money you want to risk and normally 5% of your main capital per trade for beginner. Then, if you have more money, you could try the mini contract, but mostly people are going into mini contract instead.

  • #20
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    Re: is micro account the best way?

    I've heard that with a micro account, it is very difficult to trade successfully because this is the type of account where the brokers assign someone to take the opposite of your trades, and that eventually, a trader stands to lose their investment. Brokers realize new traders usually open micro accounts, and the assumption is that they don't mind losing the first time around as it is part of the learning process, so the broker obliges the new trader and takes his initial investment away by playing against his trades. I switched over from a mini account to a micro account recently and noticed that I started to lose my trades. Not sure why. I plan to switch back from a micro to a mini.

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