When the beginning of learning Forex trading, most traders will be confused about determining what is the ideal starting capital? How many trades? Well, here are some benchmarks that can be used.
Intraday trading where trading positions are opened and closed on the same day is very popular among novice and experienced forex traders. But, at the beginning of learning Forex trading, most traders will be confused in determining the benchmark size required for buy and sell execution in the trading platform. What is the ideal initial capital? How many lots should I order? Well, here are some benchmarks that can be used for intraday forex trading Exercises for Beginners:
Minimum capital Ideal 200-500 dollars
Many forex brokers offer the opportunity to trade forex with super-low capital, even just 1 dollar said it can. However, know that it is almost impossible to profit with the small capital.
If the capital Recehan is a free capital of the bonus broker, then it is not a problem because it can be considered as an exercise account only. But if it is already plunged into real trading, then the small business capital will be very inadequate. Some traders think the minimum stake for profit is 1000 dollars. It could be so, but according to some sources, actually, the number is about 200-500 dollars. Of course, if it is greater than that it will be wider trading opportunities that can be taken, but if it is still novice then it is not advisable to invest too many funds.
Trading 0.01 Lot
No matter what your initial capital is when beginning to learn intraday forex trading, one rule that cannot be denied is: open every position with a magnitude of 0.01 lots.
So small? Indeed 0.01 lot is very small and will be a long time to achieve high profit if continuous trade with the size of Segitu. However, remember that you are new to learning, and the deposited capital is real money that has been collected in a hard time. Do not rush the appetite for profit. Practice your patience by diving into the market using a lot 0.01 first.
It doesn’t guarantee your trading account won’t be forfeited. But with this rule, your account is likely to last longer and there will be more to learn.
Follow certain Trading systems
One of the biggest restrictions in trading is to open a trading position random, based on a hunch, or just about. Because of this, it doesn’t matter as simple as what your trading system is, which is important there first. With it, you can practice discipline and see the ability to follow the rules of Forex trading.
Don’t use timeframes too small
Although many traders can profit by using timeframe 5 or 10 minutes, but this is actually less suitable for beginners because of the movement is very fast, so you can-can not realize why suddenly hit loss. It would be more appropriate to practice trading on a slightly high timeframe, but not too high, precisely between 15 minutes, 30 minutes, or 1H.
The three timeframes allow intraday trading, but traders can also monitor market movements and conditions more thoroughly.
Don’t trade too often
When beginning to learn forex trading, because it is excited to be, every time you want to open a position and take profit continuously. This is a passion that needs to be controlled. Hold your trading passion, convince yourself to open up the maximum position of about 3-5 times in a day. Suppose that volume as the target; If you already trade 3-5 times, then no matter if the total profit or loss, it is time to close the laptop and go watch movies in theaters.