Originally Posted by
;
Hi all,
I have a newbie question about MM.
I would like to start a live account in near future. I am planning to invest no more than $500 - $1000 for today.
Now the question, as I know based on MM I should not risk more than 2% of my core equity, and have no more than 10% open trades.
As I know I need a micro account and once I manage to increase it to $2500 (as 2% of $2500 is $50) I will update it to a mini account.
However, I read a post by dialist where he suggests to open mini account only when one has collected $30,000 in the account. However, 2% would be $600 which is 12 miniature lots in one trade. Isn't that better suited for standard lots?
Also, as a side note, anyone knows a good micro broker, which allows easy appliions for global traders. I am currently demoing using InterbankFX, but unfortunately they do not seem to offer micro accounts (they state they do on the website but MT4 doesn't seem to have that choice ) and require jumping thru hoops (i.e tons of documents ) in order to start an account,
Thanks for your help!