euro Posted October 2, 2013 Share Posted October 2, 2013 I think as a newbie you should try out your skills with a mini account or cents account like at forexcents website since that will help you trade in a real trading environment while let you lose small at the same time so you can gain experiences in a real trading environment. You can then gain experiences and test out strategies in a real environment which will help you a lot later on. I think losing small is ideal and suggested for newbie. Losing cents is better than losing hundreds of dollars so try a mini account first. Quote Link to comment Share on other sites More sharing options...
gaban Posted October 5, 2013 Share Posted October 5, 2013 For the newbie, mini account is better. Do not use a micro account because it will hurt us if you have a loss. Because we do not know how the actual market conditions. Although in our demo account can be managed, not necessarily in real account we can also succeed. The forex business is full of risks. I think opening a real account with a minimum deposit will be very helpful. In instaforex we could open a real account with only $ 1. Quote Link to comment Share on other sites More sharing options...
euro Posted October 5, 2013 Author Share Posted October 5, 2013 As long as a newbie do not risk high capital they should be ok in a real account since as a newbie, their first 50 trades are losing trades. You have to minimize your risks as a newbie due to lack of experiences and you are not making good profit yet so don't throw your money away like that. A cent account like at forexcents is also ideal to allow you to gain real market trading experiences for a couple of months before you risk real money. Quote Link to comment Share on other sites More sharing options...
Decub Posted January 10, 2014 Share Posted January 10, 2014 One of the good things about the mini account is that it gives you still the same feel with that of the real account but with a lesser investment or risks of losing. The mini account is quite ideal for newbies who have traded in the Demo for some time and needs to test their skills somewhere else. It offers them a subtle way of coming to the real account. Quote Link to comment Share on other sites More sharing options...
gaban Posted January 13, 2014 Share Posted January 13, 2014 Forex is a risky business. Without enough experience then we will only experience a trading loss. For newbies who do not yet have enough experience of trading, then we are better off when trading with small capital, such as a mini account or accounts cent. So when we experience loss account so we do not lose huge money. So that we can make a deposit again. Quote Link to comment Share on other sites More sharing options...
standart Posted January 15, 2014 Share Posted January 15, 2014 mini and micro account enabling traders to invest with small capital. it suits which beginner which have lack knowledge and experience. the goal by open mini account is enabling traders to conduct practice in live account. and if they are improve already, they can invest higher money and open standard account. Quote Link to comment Share on other sites More sharing options...
budado Posted January 15, 2014 Share Posted January 15, 2014 Its good to start with cent account then mini account then lite account then standard account. Since in cent account I'm already happy trading with my 10 dollars investments and in mini account I'm already happy with my 100 dollars investments. In lite account I'm happy to have 1,000 dollars trading capital. My next goal right now is to have 10,000 dollars trading capital in standard account. Quote Link to comment Share on other sites More sharing options...
gaban Posted January 16, 2014 Share Posted January 16, 2014 to get a good trading skills we have to go through several processes. For starters do not directly trading in ECN accounts, because the risk is too great. There is a process that must go through. Start cent account then a mini account, up to the ECN account. thus our ability to get better and little by little can produce a satisfactory profit. Quote Link to comment Share on other sites More sharing options...
standart Posted January 17, 2014 Share Posted January 17, 2014 the reason why beginners will suits with micro or mini account is due to it not required high minimum deposit capital. beginners should take practice and small capital would not let them to get high losing if they are suffering margin call. if beginners able to handle the pressure already, they can start to invest with high amount and open standard account. Quote Link to comment Share on other sites More sharing options...
Stekin Posted February 9, 2014 Share Posted February 9, 2014 It is good for the newbies to use mini account because this thing will be helping them to save money because they will invest small. If they lose that small that they have invested, they can be able to know invest another one without thinking too much about the one that they lost. Quote Link to comment Share on other sites More sharing options...
standart Posted February 9, 2014 Share Posted February 9, 2014 well, newbies task is take learning. not advisable to trade in live account right away. however, there are case that traders want to take practice in live account. and due to the goal is practice, traders just spend small capital only. and for such reason, traders need to register in mini account since it enabling them to spend small amount of invest. Quote Link to comment Share on other sites More sharing options...
gaban Posted February 10, 2014 Share Posted February 10, 2014 well, newbies task is take learning. not advisable to trade in live account right away. however, there are case that traders want to take practice in live account. and due to the goal is practice, traders just spend small capital only. and for such reason, traders need to register in mini account since it enabling them to spend small amount of invest. I agree with you, a mini account can be used to practice the trade after practicing on a demo account. because psychological conditions the demo account are very different from real account. so we need to train our trading psychology. with a mini account we can practice trading psychology. Quote Link to comment Share on other sites More sharing options...
andi02 Posted February 14, 2014 Share Posted February 14, 2014 Mini account is very useful for a newbie to be able to know the state of the real trade, so to use mini account will provide a lot of valuable lessons for the newbie to be able to figure out a way to be able to earn profits and avoid losses on real trades without having to take a big risk Quote Link to comment Share on other sites More sharing options...
Decub Posted February 14, 2014 Share Posted February 14, 2014 A newbie should always see the mini account as a mini account and not some kind of place to accumulate profit. Of course your capital is directly proportional to the amount of profit you make and there's no way the trader would want to expect excessively from what he should have. Trading means taking the profits little by little and for a newbie to start up with a mini account is the best. Quote Link to comment Share on other sites More sharing options...
gaban Posted June 10, 2014 Share Posted June 10, 2014 for newbie indeed we should be trading with small capital. so that we could test the good trading psychology. in forex we not only need a good trading skills, but we also need a good psychology. with little capital we can prepare a good trading psychology Quote Link to comment Share on other sites More sharing options...
budado Posted June 15, 2014 Share Posted June 15, 2014 its really good to trade using mini account and you need to have 100 dollars to have stable account. If you think 100 dollars is too high then try cent account and you only need 10 dollars. So far this is the accounts that I have but lately I add lite accounts and do hope to reach 1,000 dollars trading capital on that account. And the best is if I can reach 10,000 dollars on it. Quote Link to comment Share on other sites More sharing options...
standart Posted September 16, 2014 Share Posted September 16, 2014 brokers provide mini and micro account to those who has lack capital. traders can spend small amount of capital to trades. while if they are choose to trade on standard account, they'll need to has high capital. for newbies, who still in practice period, better they are trade on micro or mini account. Quote Link to comment Share on other sites More sharing options...
budado Posted September 25, 2014 Share Posted September 25, 2014 In instaforex their mini account has 1 cent per 1 pip using 0.01 lot size. In ironfx their mini account has 1 pip 10 cents value using 0.01 lot size. So we must first need to understand that not all account are the same even if the name is the same. Its mini in ironfx and its mini in instaforex and yet the difference in value is really big. Quote Link to comment Share on other sites More sharing options...
skyrock Posted October 15, 2014 Share Posted October 15, 2014 Mini account to me is always the best and the right place which the trader can easyly get success at first because from what I notice I think that anygood newbie need this account to invest with they start from here to get the best which they could get and their fund is well protected here Quote Link to comment Share on other sites More sharing options...
budado Posted October 19, 2014 Share Posted October 19, 2014 Mini account to me is always the best and the right place which the trader can easyly get success at first because from what I notice I think that anygood newbie need this account to invest with they start from here to get the best which they could get and their fund is well protected here Why mini account? Why not cent account? A newbies does not have enough trading capital to invest in mini account nor have enough experience to trade and earn. So for me the risk is higher if you going to trade in real account. Unless a newbies can afford to invest 100 dollars minimum. At least in cent account if you have 10 dollars you are good to trade. Quote Link to comment Share on other sites More sharing options...
myregister Posted October 19, 2014 Share Posted October 19, 2014 Mini account to me is always the best and the right place which the trader can easyly get success at first because from what I notice I think that anygood newbie need this account to invest with they start from here to get the best which they could get and their fund is well protected here For newbie yes mini account is the best account that they could try, but for experienced traders that already feel like what is forex and understand about it lot will consider mini account. I advice mini account because it offers lower lot size and it is affordable for newbie who just started this kind of business. It would be good for them to trade there since i am sure newbie sometimes created big mistakes. Quote Link to comment Share on other sites More sharing options...
gaban Posted October 22, 2014 Share Posted October 22, 2014 trading with a mini account is suitable for newbie because by trading using a mini account we will be able to trade with a maximum and comfortable. trading with a mini account has a small risk making it suitable for a newbie to train trading psychology forex well Quote Link to comment Share on other sites More sharing options...
myregister Posted October 24, 2014 Share Posted October 24, 2014 trading with a mini account is suitable for newbie because by trading using a mini account we will be able to trade with a maximum and comfortable. trading with a mini account has a small risk making it suitable for a newbie to train trading psychology forex well Because of its lower requirement compared to standard account, that is why the psychology isn't big as standard account, but it stil has some lacks. As for starter, maybe they can try at least around 3 months to trade there, for beginner it is good. Quote Link to comment Share on other sites More sharing options...
uncle gober Posted October 30, 2014 Share Posted October 30, 2014 Micro account or similar account is very useful for traders. I use this type of account when you first open an account in the Armada Markets. after understanding how to trade with discipline, then I use the ECN account which gives a very low spreads. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 4, 2014 Share Posted November 4, 2014 Micro account or similar account is very useful for traders. I use this type of account when you first open an account in the Armada Markets. after understanding how to trade with discipline, then I use the ECN account which gives a very low spreads. You can use demo account for that, but for newbie who just start to earn i think also this is the best place not to learn but to build their base. FIrst they accumulate money and capital here and after that later will invest in ECN account when they have enough money that they got from mini account. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.