Originally Posted by
;
Hi ,
I have a newbie question about MM.
I would like to start a live account in close future. I am planning to commit no more than $500 - $1000 for today.
Now the question, as I understand according to MM I should not risk more than 2% of my core equity, and have no more than 10% open trades.
As I understandI need a micro account and after I manage to raise it to $2500 (as 2% of $2500 is $50) I will update it to a mini account.
But I read a post by dialist where he proposes to open mini account just when one has accumulated $30,000 from the account. But, 2% will be $600 that is 12 miniature lots in 1 trade. Isn't that better suited to standard lots?
Additionally, as a side note, anyone knows a good micro broker, which allows easy appliions for international traders. I am currently demoing using InterbankFX, but sadly they don't seem to provide micro accounts (they state they do to the website but MT4 does not seem to get that option) and need jumping thru hoops (i.e heaps of files ) in order to start an account,
Thanks for your help!