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absolute minimum

Discussion in 'Beginners Bootcamp' started by rayray2001111, Oct 24, 2007.

  1. rayray2001111

    rayray2001111 Recruit

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    Felix i have a quick question i been watching your videos for a while now and i have saved some money to join your service , and i will practice on a demo account for 3 months b4 going into my real account which only has $23 in it hehe (i never traded any of felix signals with that account it was all my fault) , once i accomplish that i want to add some money to my account but you recommend to start a regular account with $10,000 which i dont have , so in your opinion and only your opinion for me to make a profit of $500 a month ($299 for you and $201 for me ) what do you think is the absolute minimum.

    thank you for your help
    ray
     
  2. 3BlackCrows

    3BlackCrows Corporal

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    Hi Rayray,

    I see that your post has been unanswered for a few days so although I'm not Felix maybe I can help you.

    $10k should be the minimum however at least $1000 and only trade 1:1 leverage until you are consistently making pips.

    My guess is you lost your first account due to too high leverage being applied.

    I'm sure if Felix were here he would agree :)

    Hope this helps - Happy Trading! :)
     
  3. rayray2001111

    rayray2001111 Recruit

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    how to change margin on fxcm

    hope this helps anyone

    FXCM!5: Welcome to FXCM's Live Chat Feature. So that we may better serve you, feel free to provide me with your name and email address. How may I help you?

    you: how do i change my margin

    FXCM!5: for you live account?

    you: yes

    FXCM!5: You can change your margin by going to http://www.myfxcm.com and logging using the same login ID and password for your trading account. Once you log in, click on Forms; Change Margin and select you’re new margin parameters. Please allow one business day.

    you: how do i change the leverage

    FXCM!5: leverage and margin are inverse relationship

    FXCM!5: 200:1 leverage is .5% margin

    FXCM!5: 400: 1 leverage is .25% margin

    you: how do i change to 1:1 leverage?

    FXCM!5: the lowest is 50;1

    you: how do i change to 50:1

    FXCM!5: 50:1 means 2% margin

    FXCM!5: goto www.myfxcm.com

    FXCM!5: i can also send you the margin change form to you via email/

    you: here on the screen change margin new margin requirement fxcm us 2% + roll is that the one thats 50:1 ?

    FXCM!5: yes that is correct

    you: thank you have a good night

    FXCM!5: As you have additional questions, do not hesitate to contact us along the way.

    FXCM!5: Thanks for chatting, take care.

    Chat session has ended.
     

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