can anyone tell me what the best way to trade would be if i opened a micro account with a $250 deposit, strategies etc?
First of all you would need to define what you mean by a "micro-acct" (each dealer treats this unique).
This is one interpretation:
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)
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)
The best way is to withdraw your money and start trade in the demo at least 1 year.
Trading such a small amount of capital could be done at Oanda....but unfortunatley they are not an MT4 dealer...
Oanda's trade ticket increment is one single unit....(100th of a penny)
Now assuming you go with Oanda and manually trade:
This would be considered very good if you can consistently yield 30% a year ....(not many Forex traders have been able to do this year after year consistently).
$100.00 initial capital = 30 bucks a year
$300.00 initial capital = 90 bucks a year
$1,000.00 initial capital = 300 bucks a year
$10,000.00 initial capital = 3000 bucks a year
So now that you see a proper expectation...your next question is...will this be worth my time? Do not even think that you can yield more than 30% a year....don't even imagine it!
I hope this helps. Most new traders need to lower their expectations and size their trades in proportion to their capital....
Thread author: Do you think that you can out-trade professional traders?...just curious
Hi. Are you satisfied with IBFX?
I am searching good broker not scammer with nano lots or micro???? Could you help me advice some of them?
I have a mini account on IBFX. $250 deposit. Haven't had any problems.
stace they are all thieves....
But IBFX is the best of the worst....
I do not endorse ANY dealer, I have accounts at Oanda & IBFX...I have tried PFG, FXCM and CMS...and some others not worth mentioning (somehow I missed the Refco, One World and FXLQ failures).
Sorry I cannot help more.
You are going to get a multitude of responses here.
I want you to imagine 10 years of triple digit yields with me for a minute....(I know I told you not to do this)
Do you know who Bill Gates is? Well you should if it were as easy to compound CONSISTENT year after year triple digit yields?
It's actually a statistical impossibility unless your running a ponzi scheme to get consistent double/triple digit returns year after year forever unless you're an insider ofcourse.. ;-)