January 29, 2018 at 12:28 pm #887Joel StevenParticipant
Many traders want to know if it is right to start trading in Forex with a small account. We can understand as many people have this misconception that if you start with a small account, it will be almost impossible to become a professional trader. We do not know where this conception comes to the trader’s mind but it is not what happens in Forex when you start with a small account. When people invest their money in Forex and lost it, it is best that you invest a small amount of money and keep on trading. In this way, if you lost your investment, it will not be much and you will have money in your hands to reinvest in Forex. Many people have these two decisions about the misconception of Forex small account. When many people think it is a curse to them to start with a small account, many people also think the opposite as they think it is the blessing for them as they will not lose more of their money. This article will tell you if a small account is a blessing or curse for the traders.
Most of the retail traders often say that they don’t have enough money to trade the Forex market and only for this reason they are blowing their trading account. But do you think that all the successful Aussie traders are trading with a big sum of money? If you do some research then you will be surprised to see that there are many successful Aussie traders leading their lives based on the 10K trading account. You might have a small trading account but this doesn’t mean that you have to blow it within a short period of time.
The small trading account is actually a blessing for the new retail traders. If you can trade it well then within a short period of time you can grow it into a big one by compounding your profit. But you have to only trade the high-quality trade setups in your trading platform. Never take more than 5% risk of your trading account even though you can afford the big loss.
It is a blessing for your investment
You will be happy to know that trading with a small account in Forex is not a curse. When a lot of people think they will have to lose all of their profits because they are trading with a very small account, they do not know they are doing them a favor in Forex. If you have invested a lot of money and you have no idea of trading, you will be more focused on the market to make your money. More of your money will be at risk and this is why many people in Forex do not want to trade with a big account. Small account, the big account is not important if you can know how to trade the market.
It helps you for future trading
Many people think that professional traders are making a lot of money because they are trading with big accounts. When normal traders place their trades with a small amount of money, their profit is also small. This small profit makes it hard for them to make a good amount of profit in Forex and it slows down their career. In Forex, you can also change your luck if you can make profit consistently even with your small account. Think of making 10 dollar profit every day consistently in the market. If you start with only 10 dollar account, you will have 300 dollars in your account at the end of the month. It is the great amount of money in Forex and you can use it in your accounts. When you start trading in big accounts, a small is take can lose you many dollars. It is not a curse and it is a blessing for traders. It is the right choice that every trader should take.
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