Noob question about Money Management - Page 3
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Thread: Noob question about Money Management

  1. #21
    Quote Originally Posted by ;
    Ok, so for a novice trader what ought to be the threshold then you stop trading micro and proceed for mini? $2500 or something? Or perhaps amount of months of consistent profits?
    Hi tp,

    A micro account is a precious treasure. Hang on to it as long as you can. You can make money. The 30,000 account equilibrium is where the benefit of trading micros over minis starts to diminish. There's not any benefit to switching into a mini account when you reach that level; but there is a drawback to switching into a mini before that level. I will hang on to my micro account until my broker forces me to switch.

    To know more clearly the reason for preferring a micro over a mini, read the post on asymmetrical leverage at the money management tacky of the beginner's forum.

    Dial

  2. #22
    Quote Originally Posted by ;
    If you want to examine a system live with actual money just for the emotional aspect of it. . Use Oanda. They allow you to exchange pennies/pip. If you don't have a strong and well tested system you should not use actual money. At least with Oanda, you could lose a total of $5 or something on a very valuable lesson, rather than $50 or more.
    For many people $5 lesson will not be valuable.... They want lost more to take guidance.

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