How I Made $106 With $50 Signup Bonus In Forex Trading
I open and account with this broker some time ago. I stared with $50 and made several trades. This is how I did it.
- I learn from my past mistake.
- Started with a plan.
- Kept my emotions in checked.
- Most important discipline.
Now being that I started with only $50 it would be a big mistake to buy big lots. Here is a chart that I use hope it helps.
- Volume: 0.1 (minimum) is equal to 100 units or $0.01 per pip
- Volume: 1 is equal to 1,000 units or $0.10 per pip (standard 0.01)
- Volume: 10 is equal to 10,000 units or $1.00 per pip (standard 0.1)
- Volume: 100 is equal to 100,000 units or $10.00 per pip (standard 1 lot)
I started trading with the 1,000 units which is $0.10 per lot, if you look at the above chart that’s trading at ten cent’s per pip I kept this discipline even after I notice that I was making money (very difficult). It doesn’t look like much, right. Well convert those penny’s into dollars and you will see the big picture. Open a demo account (Click Here). it will teach you discipline in the forex market. Now I just traded with penny only bought 1,000 units at a time. I did this because if I lost I would loose small. If I were to loose $0.25 or even $0.50 it really isn’t much right but in reality it really is. Here you will see an image of my trades.
I continue this pattern base on the money I had in the account. Here is another chart that will help you trade base on the amount you deposit.
- Volume: 0.1 (minimum) is equal to 100 units or $0.01 per pip = $10
- Volume: 1 is equal to 1,000 units or $0.10 per pip (standard 0.01) = $100
- Volume: 10 is equal to 10,000 units or $1.00 per pip (standard 0.1) = $1,000
- Volume: 100 is equal to 100,000 units or $10.00 per pip (standard 1 lot) = $10,000
Here is another image of my trades. It was really difficult to get this far but it was my discipline that help me. I lost but did not loose to much.
Remember discipline is the keyword, have a plan learn from your mistake and leave all emotions behind. If you must think like a computer look at it as just numbers not money. Oh! that’s another thing I also did. Instead of placing a dollar sign in my trades I change it to only see it as number it takes out the emotions to see the a negative dollar sign then points.