The RKD £1000 FX Challenge - trading a live Oanda account from £250 to £1000 - every trade posted.500 pips on EURAUD (missed!)
I have set myself a challenge. I have been asked many times how much do you need to open and trade an FX account. I always give the same advice. If you are a novice or inexperienced trader or indeed a losing trader then DO NOT OPEN AN ACCOUNT WITH $5000 OR £5000 BECAUSE YOU WILL LOSE IT!!.
If you are learning to drive you don't learn in a Ferrari.
Demo accounts are (almost) a complete waste of time.
There is no risk with a demo account. You can trade1 or 10 or 20 lots and it doesn't matter.
You will never learn to trade by doing this.
You are far better opening a $250 account and trading microlots until you have a method that is reliable andf dependable.
If you follow my challenge you will see the trades I am taking and the rationale behind those trades and you will learn how to manage risk which is what trading is all about.
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