moonchild
VIP Contributor
In Forex Trading its advisable to start with a sizeable account so that you'll be able to manage your risk carefully and give your stop loss a decent enough space to breath so that you don't get stopped out or blow your account through using large lot sizes.
Even though it's advisable to start with at least 1000$ but the reality is most people starting a live account on Forex funds less than $100, and most of the time you might be wondering how you can manage your risk with a little account.
If you have a small account and you want to grow it steadily without blowing it, first of all after depositing the money you o a broker account and then create a cent account which will convert all your dollars to cents and as we all know 100cents equals 1 dollars so if you deposit 10 dollars you will have 1000 cents and you can trade with it.
This will enable you to trade like you have you have a big account and you can put a large stop loss to be able to contain your trade.
This is the best way to go about managing risk with a small account without compromising your account.
Even though it's advisable to start with at least 1000$ but the reality is most people starting a live account on Forex funds less than $100, and most of the time you might be wondering how you can manage your risk with a little account.
If you have a small account and you want to grow it steadily without blowing it, first of all after depositing the money you o a broker account and then create a cent account which will convert all your dollars to cents and as we all know 100cents equals 1 dollars so if you deposit 10 dollars you will have 1000 cents and you can trade with it.
This will enable you to trade like you have you have a big account and you can put a large stop loss to be able to contain your trade.
This is the best way to go about managing risk with a small account without compromising your account.