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Which account should be preferred for a forex beginner?

Discussion in 'General Forex Talk' started by Andrew6, May 24, 2018.

  1. Richard Persa

    Richard Persa Recruit

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    Emotions will never be handled if trader is not ready for losses. Forex success is a positive difference between losses and profits.So, trader should be sure - losses will be.
     
  2. carnelian

    carnelian Private

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    You will never get over emotions if you money management is not proper. Emotionless trading can be done only when you are not worried about trades going in loss.
     
  3. Stark

    Stark Recruit

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    As for me, you should not pay attention to cent accounts. This is a waste of time and you will learn nothing about Forex. For beginners it is better to use micro or standard accounts. The minimum deposit must be no less than $ 100. But in general, I wish you good luck and constantly improve your knowledge of forex.
     
  4. Stark

    Stark Recruit

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    At the same time on the micro account you do not feel the psychological pressure but if the market moves well opposite your direction, you can lose everything.
    In this case, it is better to trade with a leverage of 1:30 and feel the constant pressure for your money, but you will not go into a minus.
     
  5. nahiyar

    nahiyar Private, 1st Class

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    One psychological benefit of micro account is that trader knows he is investing just some dollars to do live trading in this account. He can bear big loss because even account blowing will not a great disaster for him. He is relax mind to get real trading experience , develops more confidence to go to some iger investments.
     
  6. CryptoatForex

    CryptoatForex Recruit

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    I am seeing quite a few people these days recommending smaller leverage.
     
  7. Aaron Dias

    Aaron Dias Recruit

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    Smaller leverage because many new traders were falling victim to high leverage provided by some brokers. High leverage allows you to open more trades on smaller accounts and when things turn against you, account blown is observed.
     
  8. pashaev

    pashaev Private

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    Need to start with the amount you can safely lose.
     
  9. CryptoatForex

    CryptoatForex Recruit

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    So you only use small leverage?
     
  10. John Mason

    John Mason Private

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    The common mistake newbie trader makes while starting their live trading is to start with the standard account. For all the new traders, my advice is to start with cent accounts that will give you more margin and lower lot size for your funds safety.
     

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