Forex Trading Tips $5 Profit Every Day
Let me share forex trading tips with a capital of 5 dollars or less than IDR 100 thousand. Previously, I would like to inform you that the tips I share here are sourced from personal experience which I directly practiced.
Sorry if the tips I provide are different from the tips by experts. Here I am not an expert in the world of forex trading, it can be said that I am just a beginner who continues and continues to learn.
Forex Trading Tips $5 Capital
Alright, I'll just share forex trading tips with a capital of $ 5 can profit every day.
Choose a broker
The criteria for the broker of choice for Indonesian traders, especially those who are beginners, are easy in the account verification process, local bank transfers are available, cashback and free swap are available. My recommended broker is FBS Indonesia and that is still my mainstay to this day.
All the criteria I mentioned above are on FBS, and there are attractive promos and bonuses. One of them is a $50 direct bonus for new customers which I have described in the article $50 Balance Bonus from FBS.
Choose an account type
Usually there are several types of accounts provided, ranging from cent, micro, standard to unlimited accounts. Because here I discuss forex trading with $5 capital, so I suggest using the Standard account type as I use it.
If you are really a beginner or just starting out. You can create a second trading account with cent or micro type for trial trading with a real account. In one account registered with FBS, you can have several accounts or types of trading accounts at once.
Choose lavender
Laverage is the ratio of the trader's own funds and borrowed funds. You can find more about leverage on the internet because there are many websites about forex that discuss leverage more deeply. Here I only suggest leverage based on a capital of $ 5 or a maximum of IDR 100 thousand.
I recommend choosing 1:500 leverage in your trading account. Laverage 1:500 in my opinion is suitable for trading with capital under $ 10. In addition to leverage, trading with a capital of $ 5 is also adjusted to the lot size and selection of the right pair.
Choose lot size
With a capital of $ 5 I usually place an order of 0.01 lots on a standard account type. With a lot size of 0.01 you can still have up to 300 percent margin level. At least it's safe to survive with a loss of up to 300 pips. Of course, the margin level differs by pair because the price is different. Therefore I add the following.
Choose the right pair
For capital of 3 to 5 dollars I recommend choosing the AUDUSD pair because this is the safest pair in my opinion. You can choose other pairs such as EURUSD, GBPUSD, USDJPY, but with a note that the capital has reached 10 dollars. This is done for the sake of capital resilience when facing losses.
In addition, do only one order only. If you want to do a lot of orders make sure the capital has reached $ 10 or more. You can also do a lot of orders if you are really sure of profit, because with minimal capital, of course, it is very risky to do more than one order.
Profit 12 USD in one day with 6 USD capital
When you are in a profit position, make sure you can break the profit a number of pips. If you are in the process of raising capital, I suggest taking profit of 50 to 100 pips only. That way you've profited $ 0.5 to $ 1 in one order. You can also survive as long as you believe the movement can bring you profits of up to hundreds of pips.
Although in small amounts, you can do it in large quantities because forex trading can be done 24 hours for 5 days (closed Saturdays and Sundays).
If you have something to say, don't hesitate to write it in the comments column. Let's study together!