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only 200$

Discussion in 'General Forex Talk' started by reginald james, Oct 27, 2007.

  1. reginald james

    reginald james Recruit

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    helooo felix helooo gents
    i only have 200 $ do u think i can succeed in my trading forex as i lost 2000 cause of my ignorance have any body a comment on that !!!
     
  2. 3BlackCrows

    3BlackCrows Corporal

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    Hi Reginald James,

    In short - no.

    I can't see anyone building up an account in a reasonable amount of time with just $200.

    But I hope you prove me wrong! ;)

    Also if you still have that same ignorance toward trading then make it a double no.

    Sorry if I burst your bubble :embarrassed:
     
  3. Pharaoh

    Pharaoh Colonel

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    Practice on demo accounts. If you do well, there are a few places that will let you open an account and trade micro lots (about 10 cents a pip) or nano lots (about 1 cent a pip). Starting so small will mean that it will take a lot of time to get a significant return, but then again, in a worst case scenario you will only lose $200.
     
  4. osasyankee

    osasyankee Private, 1st Class

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    chk it

    i think 200$ is a kool amount to open an account for a beginner like you. Try and open an account with one of these brokers that accept mini and try and build ur confidence with it till u are some pips upward.

    Please some pips upward before putting more on your trade. Go to Forex Brokers review on this site and visit each broker one after the othere to know those that accept mini. I will advice you not to use easyforex.com cos they flop much. I have lost a lot on this broker before I later move on .

    I hope this help.
     
  5. kamoro

    kamoro Private, 1st Class

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    Hi osasyankee

    Thank you for the note about easyforex
    I was just about to start trading with them, since I am also new to this and wanted to start small.
     
  6. No Time

    No Time Private, 1st Class

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    Imho, you can trade very small lots with 200 usd.

    If you have confidence in your strategy and it makes pips for you, keep plugging money into your account as you can. It will take a while to build your line up.

    Patience will be your virtue!!;)
     
  7. Migo

    Migo Private, 1st Class

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    Hey, do what No Time said. Keep plugging money into your account as your trading Micro lots, and once you move up enough move your way up to mini lots, then build up untill you get up to standard lots. Now remember, there will ALWAYS be trades, DO NOT chase any you might feel that will make you a larger profit. Get a system that works for you and PRACTICE PRACTICE PRACTICE on a demo account. Once you can get that down packed then your good to go. But before you get into any more trading, master the art of emotions. Now you know what it feels like to loose $2000, learn from that and accept any looses you encounter. If you are starting to notice your hitting a few loss trades in a row you might want to revamp your strategy and practice it a bit more.

    I like how you didn't give up after loosing everything. Keep your faith up. Anything can be done.
     
    #7 Migo, Oct 30, 2007
    Last edited: Oct 30, 2007

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