Turning a $50,000 FXCM demo into $100,000+ was a little too easy. With my per-trade risk capital starting at $1000, I had upto 100 pips to back up my decision, and back them up they did. Four days, and two economic news releases later, I was at or above 100k.
So I opened a live account. And between homework assignments, and occasionally during the time that I should have been doing homework assignments (opportunity cost, my friends), I amazingly dwindled my original investment to 50%.
Now, let's just say I have $500 left in the account. Taking 2% of that 500 would give me, hmm, $10. Minus $5 for spread, minus $5 for the minimum stop possible.. let's see, that leaves me with, well, an impossible situation.
Should I:
A) Find a way to deposit additional funds?
B) Pray that I can find a sweet trade that only technically requires a 5 pip stop? (And repeat many times.)
C) (See what the james16 pf has to offer?)
D) Withdrawl my funds from FXCM and open a Micro account somewhere?
E) Read, read, read. Demo, demo, demo. Pray, pray, pray? Repeat.
F) Watch the eco releases and ride a breakout or two to breakeven? (why stop there?)
Is there a way out?
So I opened a live account. And between homework assignments, and occasionally during the time that I should have been doing homework assignments (opportunity cost, my friends), I amazingly dwindled my original investment to 50%.
Now, let's just say I have $500 left in the account. Taking 2% of that 500 would give me, hmm, $10. Minus $5 for spread, minus $5 for the minimum stop possible.. let's see, that leaves me with, well, an impossible situation.
Should I:
A) Find a way to deposit additional funds?
B) Pray that I can find a sweet trade that only technically requires a 5 pip stop? (And repeat many times.)
C) (See what the james16 pf has to offer?)
D) Withdrawl my funds from FXCM and open a Micro account somewhere?
E) Read, read, read. Demo, demo, demo. Pray, pray, pray? Repeat.
F) Watch the eco releases and ride a breakout or two to breakeven? (why stop there?)
Is there a way out?