make money with micro account

ninedsnine · #1 (**permalink**) 03-08-2009, 07:27 PM

can anyone tell me what the best way to trade would be if i opened a micro account with a $250 deposit, strategies etc?

ElectricSavant · #2 (**permalink**) 03-08-2009, 07:39 PM

First of all you would 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)

hazenvnn · #3 (**permalink**) 03-08-2009, 07:39 PM

The best way is to withdraw your money and start trade in the demo at least 1 year.

ElectricSavant · #4 (**permalink**) 03-08-2009, 07:46 PM

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)

ES

ElectricSavant · #5 (**permalink**) 03-08-2009, 08:02 PM

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).

Scenario's

Code:

$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

ES

stace · #6 (**permalink**) 03-08-2009, 08:54 PM

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?

Quote:

Originally Posted by ElectricSavant

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).

Scenario's

Code:

$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

ES

jturns23 · #7 (**permalink**) 03-08-2009, 09:08 PM

I have a mini account on IBFX. $250 deposit. Haven't had any problems.

ElectricSavant · #8 (**permalink**) 03-08-2009, 09:55 PM

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.

ES

P.S. I like IBFX because:

CFTC licensed and NFA registered with over 40 mil in traceable capital.
Nano accounts on MT4.
400:1 available (25 cents per nano).
Rebates for USA clients.
Fast withdrawals to Zions Bank High interest account (12-24hrs).
Credit Card Deposits (I use a 2% rebate card).
Free incoming wires (You can use Washington Mutual Bank for free outgoing wires).
Free unlimited Demo MT4 accounts.
Toll free #'s with a real address.
Hedged exposure for margin calculations. Example: Long and Short the same pair only counts as one margin.

Quote:

Originally Posted by stace

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?

trevpick001 · #9 (**permalink**) 03-08-2009, 10:19 PM

Quote:

Originally Posted by ElectricSavant

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).

Scenario's

Code:

$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

ES

In no way am I being big headed,but to applying the same rules to account size of that small to lets say £100 account is ridiculous it would not be worth your time

lets put it this way when I started trading I started with 1k and lost it the same day, I then spent 2 years learning and practising all about forex
To cut a long story short

I again started with 1K and turned that into 33K in 12 months, heck it beats working for a living

I expect to earn 50k in 2009

Making 30% on a 200k account it brilliant that 60K in 12 months

Starting off small with an account of 1K can be done but I must admit it’s bloody difficult

In no way to I class myself as an expert trader but you can achieve more than 30% if you are willing to take the risk

So yes with no knowledge or experience I got my hands burnt after 2 years of trading in demo accounts not risking one single dime and educating my self when I went live it was a thrilling experience

ElectricSavant · #10 (**permalink**) 03-08-2009, 10:37 PM

ninedsnine,

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?

ES

Quote:

Originally Posted by ninedsnine

can anyone tell me what the best way to trade would be if i opened a micro account with a $250 deposit, strategies etc?