Hi all! I was hoping I could get some advice from more experienced traders
regarding a set of steps for advancement based on account size in this
business.
So far my understanding is that for account sizes of less than $25K we trade
micro-mini (or nano) accounts. Specifically in denominations of 0.01 lots
of a mini-account. I also believe I understand how to calculate the account
size needed to start trading full lots (thank you Fiji).
My main question begs what additional considerations are necessary at
certain approximate account sizes. In terms of liquidity/slippage, broker
issues, logistical issues, etc. I think I have a handle on the leverage
situation, but many large question marks remain regarding the others. I'm
basically trying to get a handle on what I should be researching along the
way that isn't necessarily needed for a tiny account.
Any help is much appreciated!
regarding a set of steps for advancement based on account size in this
business.
So far my understanding is that for account sizes of less than $25K we trade
micro-mini (or nano) accounts. Specifically in denominations of 0.01 lots
of a mini-account. I also believe I understand how to calculate the account
size needed to start trading full lots (thank you Fiji).
My main question begs what additional considerations are necessary at
certain approximate account sizes. In terms of liquidity/slippage, broker
issues, logistical issues, etc. I think I have a handle on the leverage
situation, but many large question marks remain regarding the others. I'm
basically trying to get a handle on what I should be researching along the
way that isn't necessarily needed for a tiny account.
Any help is much appreciated!