shouldnt be even thinking about trading forex at all. Before venturing into the world of trading, FCA and CySEC regulated broker, hycm, recommends looking into the level of financial commitment required. For example, to open the an rkets account, you need a minimum deposit of 200 (or a similar size in other currencies). For the sake of convenience, let's use. If you are ready to grow your account slowly, you can start with as little as 500. Yes and NoI will explain my answers.
So, if you only have 100 in your account, you should only risk 1 per trade. In short, stops do not mean any maximum loss is set in stone, but they do give you a rough and useful idea of your risk for normal conditions. You see, these days, opening a live forex trading account is really easy because most of it is done online now. Small players happily play alongside the largest participants. For some of you, 2,500 may be half of what you earn in month on your job. High levels of leverage allow small deposits to command sizable positions. Will you take a more discretionary approach? He said that you can start thinking about trading as full time career when you make more money in a month from trading then from your day job.