Why is it bad opening a 250$ mini-forex account?
Monday, September 28th, 2009 at
6:34 pm
Recent Posts
- How to Win in Forex Trading Without Knowing the “Right” Elliott Wave Pattern
- Trading Forex In Australia Forex Trading Strategies Revealed
- Forex Trading Software – eTORO Forex Trading System
- Forex Trading Systems – Trading Zones Jan 20, 2012
- Forex Trading Robots – Do Forex Robots Really Make Big Profits?
- Automated Forex Trading – Can You Make Money With Automated Forex Trading?
- Forex Trading Systems Jan 9, 2012
- Currency Day Trading Formulas Forex
- Free Forex Demo Account | Currency Trading Software System
- Forex trading for beginners – Forex trading system
Opening a mini-forex account is not bad by any means, especially if you are just breaking into forex trading for the first time. You are putting limited capital at risk while you test out your techniques, it truly is a wise thing to do.
One downfall to a mini- account is that you do not trade lots of 100,000 but rather lots of 10,000 and you are really limited to the number of lots that you can trade at any given time, thus making it harder for your to dollar cost average.
Don’t let anyone tell you that opening a mini forex account is bad in any way. you just must realize that just with investing in stocks options bonds etc etc etc, there is risk involved…thats all!
Good Luck!
Not bad in any moral sense but maybe not be the way to go for investing. First, you must understand currencies and the way they they trade against each other. Not a good place for beginners.
It’s as good a way to lose $250 as any other money-wasting option, I suppose!
Hi,
To me it is bad to open a mini forex account with only $250. Reasons being:
1. To me $250 funding of forex account is consider small account. Most traders may not take it seriously as capital involved is small. If the traders were to take up position that went against him/her, they will not feel the pinch of losing even the whole capital.
2. Let’s say you do take it seriously, you will not satisfied with the small capital gain after awhile because you cannot take up large position due to capital.