There are many people who think that forex requires enormous capital and everyone who starts a forex business is a person who has a lot of money. The reality is not so, even though you have minimal funds, you can trade and replace the minimal funds into profits many times over.
Today’s forex is not only carried out conservatively but can also be done online as long as you have internet access.
With the mechanism and lightness that some people are interested in this business.
The response from the broker as the 3rd faction is also really providing support by providing services even though they have less capital.
Some brokers actually provide support to beginners who want to take advantage of the forex market. Even though they only use less capital, some are even under $100.
Back to us as beginners, even though we have less capital, we should not do perfunctory business transactions and must be given sufficient knowledge. We must be aware that we have less capital, we should not be too greedy or expect to get big direct profits, because it is really risky.
To optimize profits with less capital, then follow this simple guide from us.
1. Use a Micro or Mini Account.best apps for trading
Now you can take advantage of brokerage services that provide many accounts with their respective advantages and disadvantages. The standard minimum capital in 1 lot is $100,000, of course that capital is too large for a beginner. Some brokers provide micro accounts where the minimum deposit is only $1.
Even though we have less capital, we must apply good financial management. Process to sharpen strength while saving capital.
2. Can’t Use Leverage Too High.best apps for trading
When with less capital, you should not use too high leverage. The optimal leverage you can use is 1:500. If you use too much leverage, you can become greedy and will continue to trade with full margin.
In addition, you can be trapped in always taking high-priced lots if you always use very high leverage. Anyway, the risk of leverage must be balanced and not so high.
3. Use Good Money Management’ best apps for trading
Good money management is important if we use less capital. You need to have a loss limit and profit target. Not only that in the use of lots there is also a need for a good calculation.