DislikedWhat do you mean by that ? and also if $10 is too much what would be an ideal amount per pip ? and by the way, thanks for helping me out here!Ignored
From my own experience, I was at times trading $10-15 per pip on A$5,000 account. Needless to say I lost all of them in a matter of 3 months. Prior to that I was up by about 1,000 but poor money management cost me dearly.
I learnt my lessons hard way and now I trade only 10 cent a pip to maximum $1.5 a pip. IMHO, Forex market is the survival of the fittest (the person who has a right MM in place).
Also, this market will continue to amaze you even when you are 2-3 years old in this market place. For me, personally, I have set myself a goal to get breakeven in 1 year. Yes, the money wont return back as quickly as it went but if I can stay breakeven after my first year in forex trading,I'd consider myself lucky to have learnt so much about this market at free of cost.
The bottom line is, IMHO, the longer you survive in this market, the higher your chances are of making profit.
as for trading lot, some seniors here in FF have advised not to use more than 3% of your equity in any single trade.
Cheers