In the mind of many forex traders, there is a misconception that they need a large account in order to trade the forex market. It’s obvious that having a large account in the forex trading is an added advantage but in the hands of rookie trader the large account is also subject to abolishment. In most of the case, new trader blows up their new account real quick when large account suffers the slow the decoration process of the account balance. Becoming a successful forex trader requires lots of hard work and dedication. Success is measured in a whole year “overall performance”, not in few numbers of the profitable trade. It’s important that traders learns how to make the profit and consistently by trading the “financial instrument” regardless of account size.
The problem lies in your strategic action: I know it might be sound ambiguous for you but to be precise trading is not all about trading capital rather it’s more about how well you execute your “trading plan” and take control over your “emotions” in the market. You might be thinking that a simple 10k dollar deposit in your forex broker account is enough to make financially stable. But in reality, it’s not like that. If you can’t manage a small account, then you can be 100% sure that you will also blow the biggest amount in the forex industry. Learn to trade the market with proper “risk management” skills. Develop a strong set of discipline inside you so that you know how to deal with you losses. Don’t take you account size number into your mind, rather think it as an investment. Make sure you are making the consistent profit and repeating your performance month after month. “Mastering the art of trading small account” will eventually make you a better person in real life trading.
How to start with a small account: So if you are trading with a small account make sure that you trade like “the sniper”. You have one shot to ground your enemy. Either your enemy dies or you. This strong determination will help you take quality trades in the market. Of course, you will have some losing trades but you have proper money management skills which will give you second chance like bullet proof vest to hit your opponent again. But make sure that you don’t lose your “patience and dedication” by losing consecutive trades. Take the minimum risk and go for perfection. Start risking only “1% of account equity” and target 3% growth in every single trade. In this way, you can have three losing trades and yet stay in the breakeven condition with only one winning trade.
Conclusion: Many people might be wondering that they have all the potential qualities that every successful trader has in the fibogroup.eu. They are only losing money due to inadequate trading capital and need of more demand. But in reality no matter what they will lose money in the big account also. Account size is totally immaterial for “the professional trader”. Focus your concentration on trading performance and parameter. Start working with your weakness and develop your strength for better trade execution. Consider trading a small account as the blessing and wonderful opportunity since it provides the unique advantage to master the art of forex trading.