Resolved Question
If you have only 1000 dollars in your account then how much risk will you take ?
over 2 years ago
Best Answer - Chosen by Asker
If you only have $1000 in your account it is also good to make sure that you have a micro account. This will let you take more trades and scale out of positions. Trading with mircros will allow you to have the flexibiltiy you would have with $10,000 mini account. Why would a trader NOT do this, if they let pride and greed get the better of them.
over 2 years ago
Answers (2)
Well, that depends on your risk preferences! Personally, I'd risk at most 1% of my account at a time. That means that I would either risk 1% on a single trade or a cumulative 1% on a set of trades. If I had a thousand dollars in my account, then my 1% risk would amount to 10 dollars. I'd make sure to set my stops and position sizes based on this amount of risk that I can tolerate.
over 2 years ago
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Note that managing your account correctly is a very important aspect of forex trading. You are in fact gambling when you trade without money management rules. So if you want to survive the forex market and be profitable at the end, you better be strict on your risk management rules.
For more information on money management, kindly click the link below. Thanks!
over 2 years ago
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