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  1. #21
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    Re: is micro account the best way?

    You can't make much profit on micro, but you can't lose large, either. I think this would be a hard decision for a beginner, like me.

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  3. #22
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    Re: is micro account the best way?

    To each his own.................. I personally feel that a micro account is a great idea. Even with a small amt. of money you still posses an emotional attachment to it. You feel real trader emotions. You will find a lot about yourself and the way you trade. I can see how it could bring out a gambler's fallacy in someone.
    Having a small amount of money "could" make someone use a larger than normal % trying to hit a home run. The trap that I fell into was letting my losses run because it was such a small amount of money. Lesson learned, for a small fee ... All in all, it is up to you, the trader if it is a good idea or not...... Just remember, if you decide to play with fire, it is better to be burned by a small campfire than a towering inferno.

    Take Care, good trading
    ladder105

  4. #23
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    Re: is micro account the best way?

    Micro acc is my fave if i wanted to run some EA testings. Martingale EA's runs best on this type cents acc as well. Perhaps its well suited for martingale type acc due to the nature of it.

  5. #24
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    Re: is micro account the best way?

    Micro Account is good if you want to test your overal skills - how you will handle the loses etc. but it will never simulate the emotions to trade with big accounts. What I mean is that if you have 100 dollar account you will never feel the same if you trade out of 10K dollar account.

  6. #25
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    Re: is micro account the best way?

    enen tough for a micro account, money management is also very important, and we should stick to good money management

  7. #26
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    Re: is micro account the best way?

    Oanda will actually let you trade all the way down to pico lots.
    $1 trade size, 0.001 cents per pip

  8. #27
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    Re: is micro account the best way?

    micro account is a part of your money managment strategy. Imo, as a beginner one should consider to chose a broker that allows micro account.

  9. #28
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    Re: is micro account the best way?

    the lotsize could never be too small, as you always can add on positions and lots later.
    the lotsize could only be too big, when there is time when you wish the God to help you to get out the position on breakeven only.

    when you think about the lotsize is your right size, you shall reduced it by divided with 10.

    so, yes, micro account is good. Even nano lotsize at IBFX is greate.

  10. #29
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    Re: is micro account the best way?

    micro account is good for the beginner who wants to stimulate forex skill seriously. the key are still discipline, emotional control, and money management. when you have mastered those things, challenge yourself to the standard account good luck and keep on spirit!!

  11. #30
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    Re: is micro account the best way?

    If I look back when I started live trading, had been much better to start with micro which was not available back then. Took me one year to realize I should switch to micro. So start with MICRO! And if you are thinking to deposit 250$ then deposit 100$ and so on. You can always deposit more but at beginning a trader lacks discipline and he will forget or won’t redraw if there is a profit. I think putting money on your trading account is like putting salt in your soup: you can add but you cannot take it out if is too much. So pour little by little and have a taste before adding again. Start small and allow yourself the time to react to the new emotions that live real money trading brings. Imagine you have to pay for driving lessons to became a great pilot, but you can pay 100$ instead of 250 etc
    Aain

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