Mini Account Tradding | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Mini Account vs Micro Account 7 replies

Mini account with MT4? 19 replies

Is this normal for a mini account?? 1 reply

Need info. for mini account broker 2 replies

looking for flash based mini account 8 replies

Mini Account Tradding

  • #1
  • First Post: Apr 6, 2006 10:00pm Apr 6, 2006 10:00pm
Hi,

I would like to ask you lovely guys about what charts are best for mini account tradding? Cuz I have limited capital and I would like to know if there is a correlation between mini account with 5, 10, 15 mins etc..... charts?

From my experience is that my margin would not last for 48 hours... !

Regards,

Thdbird
  • #2
  • Apr 7, 2006 1:00am Apr 7, 2006 1:00am
Your question is confusing.
1) I think you may mean 'what trading platform'. You may want to consider using Oanda as a trading platform and then use an MT4 (SBFX or other) for charting purposes. Lots of info here on the forum on both. The reason I suggest this is that on Oanda you can trade at a level as small as US.01 per pip. At this level you can trade with real money while still learning and not have to risk a whole lot of capital. Oanda charts are limited so use the MT4 platform demos. ( I like SBFX cause it does not expire like so many others so you dont have to go thru the hassel of registering a new acct every few weeks).
2) as to the time, a new trader mostly wants excitement so the 5 -15 minute charts appeal to them. Traders that trade for excitement are the ones that are starting to enrich my acct on a monthly basis. Once you have gotten beat up on the 5 - 15 min charts start to watch the daily and weekly stuff. Not as exciting, but definitely more profitable.

Keep reading and asking questions.

Quoting thdbird83
Hi,

I would like to ask you lovely guys about what charts are best for mini account tradding? Cuz I have limited capital and I would like to know if there is a correlation between mini account with 5, 10, 15 mins etc..... charts?

From my experience is that my margin would not last for 48 hours... !

Regards,

Thdbird
In trading, there is no bullshit. You either make money or you don't.
  • #3
  • Apr 7, 2006 9:04pm Apr 7, 2006 9:04pm
mrgreen,

I visited the Oanda webby and i find it great... itz much better platform than the one i m currently using. Although they both uses JAVA... Oanda is much faster and much easier interface.
  • #4
  • Apr 8, 2006 12:20am Apr 8, 2006 12:20am
mrgreen makes a good point... I just started on Monday with $250 and I'm down to $50 at the moment Fortunatly I've learned alot already and I'm ready to attempt to slowly built back up my lost $200 using a more patient and thought out strategy!

On that note... has anyone else lost their butt on NZD/USD after about 11 AM EST? I made several good trades on this pair from 6 AM - 11 AM a few times during my first week, but ANY time I held on past 11 AM I lost hard -- in fact, being greedy and holding on too long to this pair lost me most of the money I'm down right now.

I'm simply using forex.com with no external tools and it seems fairly effective, but then again I am brand new to this!
  • #5
  • Apr 8, 2006 3:26pm Apr 8, 2006 3:26pm
You may also want to look at interbankfx. They're a good broker. I switched to them a few months ago. There's a couple of good reasons to look at them. First, they have good spreads - 2-pip EURUSD, 3-pip USDJPY, 4-pip GBPUSD. Second, they have no dealing desk, which offers a lot of advantages.

Finally, and most relevant to your question, they offer the ability to trade micro lots. A micro lot is 1/10 the size of a mini. In the EURUSD, for example, the value of a single pip per micro lot is $0.10. This is great for anyone just getting started in Forex who is ready to go to a live account from demo trading.
  • #6
  • Apr 8, 2006 10:36pm Apr 8, 2006 10:36pm
Interbankfx is a good choice also and I have heard good things about them.

I chose Oanda simply because I use different computers and the java platform allows me to access from any of them. I use a Solaris (Unix) workstation at work and I have a solaris x86 PC at home. I got a Linux box around here somewhere but I never have a chance to play with it. My laptops are both windoze so I run my MT4 demos from them. And in a disaster situation I can use my 14 year old sons PC. (He's on notice that if the others all die at once I am moving into his area of our shared home office. I actually have an SBFX demo w/ my templates cloned over on his PC

It is all about using a platform that fits you and your lifestyle.
In trading, there is no bullshit. You either make money or you don't.
  • #7
  • Apr 8, 2006 10:57pm Apr 8, 2006 10:57pm
Sundownz:
There is an item in the FF Forex Articles section:
http://www.forexfactory.com/forexfor...ead.php?t=4815
In the article Joe Ross says:

"There is really only one true problem with your trading—that problem is you! However, the problem manifests in two ways:

1. Market conditions have changed and you haven’t.
2. You are no longer doing what you did when you were winning. You have drifted. You are not consistent.

The first aspect of the problem is due to poor observation. The market has changed and you haven’t changed with it. Poor observation stems from a variety of lesser but very important problems. You have married a market, or a trade. You may have allowed your ego to get the best of you and you are no longer humble."

I hope you do not think that I am being critical because I do not mean to be. Believe me I have been where you are. My 1st acct was traded down to US13.00 before I woke up.

Quoting sundownz
mrgreen makes a good point... I just started on Monday with $250 and I'm down to $50 at the moment Fortunatly I've learned alot already and I'm ready to attempt to slowly built back up my lost $200 using a more patient and thought out strategy!

On that note... has anyone else lost their butt on NZD/USD after about 11 AM EST? I made several good trades on this pair from 6 AM - 11 AM a few times during my first week, but ANY time I held on past 11 AM I lost hard -- in fact, being greedy and holding on too long to this pair lost me most of the money I'm down right now.

I'm simply using forex.com with no external tools and it seems fairly effective, but then again I am brand new to this!
In trading, there is no bullshit. You either make money or you don't.
  • #8
  • Last Post: Apr 8, 2006 11:14pm Apr 8, 2006 11:14pm
I'm looking for any information I can get, so I don't take you as being critical at all. I messed up my first week due to mistakes on my part, that is a true statement. My biggest so far was being up $60 in my NZD/USD position and not selling right then... which lost me most of the $200 I lost last week when it crashed down to my stop loss point.

I've been through most of James16's big thread with all the charts this evening and I downloaded MetaTrader and began playing with the indicators and looking back at the points where I messed up -- most are pretty obvious with the information I have now.
0 traders viewing now