Mini forex trading, the way to go when you start trading

Mini forex trading, the way to go when you start trading

Once you get into the world of forex trading, you will immediately find this field is not just about entering trades in the trading station of your broker, but mainly to make it profitable, as possible, with those who are highly enter trades and that will be good ones.

The only way you can reach your goal of becoming a profitable currency trader is by finding the best sources to learn forex trading and practice. And much much practice will make you expert on the currency markets and highly profitable trader. You can start practicing with a paper trading account, which is recommended, and this will give you a sense of what a real trading account is how to gain knowledge and skills you need without the constant fear of losing your money in a bad move can to do.

Once you are profitable paper trading account with the next natural step would be to open a mini forex trading account, this time with real money. But even considering risking real money this time, it will be just a few dollars on the table, which will be at risk, and of course the positive side you have the option of gaining real money from your trading skills, which ultimately is the ultimate goal of all traders.

These are the main features of the mini Forex account will have:

- Minimum required account deposit (it can vary from broker to broker) = $ 300

- Recommended required account deposit = $ 2,000

- Traded in 10,000 unit currency lots

- Default Margin: set at 0.5% ($ 50 after the mini-lot)

- Leverage up to 200:1 =

Contrary to what might be tempted to think, there's no downside to trading a mini forex account compared to a regular account. Besides the many sizes, will enjoy all the benefits that full-size forex account holders to enjoy, including as state-of-the art trading software from your broker, charts, resources and tools. This mini accounts are ideal for new Forex trader to develop a disciplined, rational forex trading strategy and technique without excessively focusing on the fear naturally arising from too much thinking about how you can lose in a bad trade.

Another great new home for the trader is that there is no maximum trade volume when using a mini forex trading account. Although the standard trade size is 10,000 units, which are not limited to trading one lot. For example, you can trade 10,000 units or even 200,000 units. In this way, as you become more experienced and build up your confidence you can slowly increase the size of your positions to maximize profits. This ability to customize the size of the trade will allow you to have better risk management of your money, how to build skills will make you think about opening a full-size regular trading account.




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