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.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.