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Forex Thread - Investment - Nairaland

Nairaland ForumNairaland GeneralInvestmentForex Thread (357 Views)

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Forex Thread by agadakingz(op): 8:39pm On Jul 25, 2021
You are not making any financial progress in forex because you have a small account

t(dot)me/sir_kfx

Re: Forex Thread by Babara1994(m): 10:42pm On Jul 25, 2021
That's not true. If you cannot manage a 10$ account, you will blow a 10000k account.
"He that is faithful in little will be faithful in many." It's a divine law.
Re: Forex Thread by Promotions: 10:57pm On Jul 25, 2021
In my opinion money management will determine the growth of your account, you can grow a small account to big figures but it will take a longer time while using a bigger account will make it easier to grow cos you can use a bigger lot size and also withstand the market.
Re: Forex Thread by Promotions: 11:07pm On Jul 25, 2021
Babara1994:
That's not true. If you cannot manage a 10$ account, you will blow a 10000k account.
"He that is faithful in little will be faithful in many." It's a divine law.
I won't totally agree on this. On Friday I was losing about -$20/25 before it reversed and I started making some profit, a small account won't withstand it.. imagine if it was a small account of $10-50
Re: Forex Thread by Babara1994(m): 11:37pm On Jul 25, 2021
Promotions:
I won't totally agree on this. On Friday I was losing about -$20/25 before it reversed and I started making some profit, a small account won't withstand it.. imagine if it was a small account of $10-50
You probably risked too much on that trade. You were lucky! It might not reverse next time - that's how people end up losing 500$ on a single trade.
Re: Forex Thread by Babara1994(m): 11:40pm On Jul 25, 2021
I've grown a 5$ account to over 100$ in a week and lost it all in a day. And I know someone who blew 1000$ in a single week!
Re: Forex Thread by agadakingz(op): 5:32am On Jul 26, 2021
That is exactly my point, small account mind set is to flip account all the time. They are not patient enough to allow compound effect take its course. You $5 to $100 in a week and lost it all and the circle repeats itself
Re: Forex Thread by agadakingz(op):
Promotions:
In my opinion money management will determine the growth of your account, you can grow a small account to big figures but it will take a longer time while using a bigger account will make it easier to grow cos you can use a bigger lot size and also withstand the market.
Very correct, that is why you see traders selling signals and managing other peoples account to raise money..

Growing a small account is possible but not sustainable that's why most traders always go bankrupt
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