Question

I received a letter from FXCM to register for a MICRO Account and they would put $25.00...(that is correct "twenty five dollars) and any profits that I accumulate are mine to keep.

Well I did registered and like 4 days later sure enough there was $25.00 that I could trade with REAL money. The lots or contracts are in $1k and margin is $2.50. So hypothetically I could purchased 10 contracts of $1k for every $25.00.

Each pip on this MICRO Account represents .10 cents. So for me to make $1.00 on the on the EUR/USD as an example, I would need 10 pips

So I started trading and I did not deposited any money, just what FCXM had placed. And so I started trading $1k (1 contract) to $3k (3 contracts) at a time and the account is growing.



Currently is at $107 and change and I am holding $4k over this weekend. $2k are showing a -$6.50 and another $2k is showing +$1.50

I wished I could trade the futures, but I have NO money to speculate or invest or what ever you want to call it.

So far I have collected 852 PIPS in the last 6 days, trading late in the evening or real early in the morning and 1 time regular "business hours". At times I hold over night and the worst MAX draw down so far has been $120 PIPS or $12.00.

My question would be what size of account would one need to really trade the regular full contracts? What I do not understand is what comparison in size would on need to be trading regular full size contracts, like $100k contracts?

How realistic is this account to grow into a $1,000 account? Then a $10,000 account? At what point, would it be wise to trade $10k (10 contracts)?

I realize that if the account started with $25,000.00 and not change anything on the trades (same size, same entry and exit) and I was trading $100k contracts then the account would be at $33,520 ($25k + $8.5k)

Thanks

 

$100,000 contract
$10,000 contract is 10% of the $100k
$1,000 contract is 10% of the $10k

If the trader that is trading the $100,000 contract "had" followed your signals and he started with a $25,000 account he would then have $107,000.00?

If the trader that is trading the $10,000 contract "had" followed your signals and he started with a $2,500 account he would then have $10,700.00?

It would seemed that would be the logic explanation. But it can't be. The comparison would be a starting account of $25.00 (like yours ) versus starting with $250.00 (these would be $10k contracts) versus starting with $2,500.00 (these would be $100k contracts).

So the result would be:

Start $25.00 account - End $107.00
Start $250.00 account - End $1,070.00
Start $2,500 account - End $10,700.00

So if you were planning to move to the $10k contracts, your account would need to start at $250.00 Once you reach $2,500 then you could trade the $100k contracts. The only draw back is probably going to be the emotions. Much easier to lose 12% on $100 account versus 12% on a $10k account (so far your worst draw down and that is NOT taking into consideration any draw downs that you might have hanged on but came out profitable...I do not know)

Can you make it? Only time will tell.

My 2cents

 

Try taking out your money. Let us know if it works.

 

Now you have me concerned. I just emailed them and waiting on a reply . That would be a headache if there was a catch . As far as I know when I registered, the agreement was I keep any profits minus their $25.

We will see

 

I also got the $25 account. I thought I got to keep the $25, but I guess that doesn’t really matter. I would catoragize myself as definitely one of the world’s worst traders. I’d been thinking about opening the $25 account as a way to have real trades, but no risk. Maybe I could actually learn that way. Anyways I made 44 trades last week, 43 winners. The one loser was where I meant to sell, but accidentally bought and took a 6 tick loss. Inevitably this will continue until 1 or 2 trades wipe out half the account. It does feel good to take $25 to $100 in a week. I like scalping and thought the forex market would be the worst for that, but we’ll see.

I’ve been looking at the eur/usd for awhile and I think it’s a good long term buy here, so I bought 2 micro lots at 1.2830. I have been scalping that as well as a few other pairs. Let me know how everybody else is doing.

 

Hi Sandybestdog, I am actually short the EUR/USD... I did get a reply from FXCM and they are telling me that the funds (any profits) are available after 5 trades. So the answer for me is yes and I assume yours as well.

 

Well I’m not looking to debate positions too much here, but I figured I’d take a small shot at a swing trade on the euro/usd. Maybe if I can manage to hold on that long, we might see a move back to 1.4000. Like I said, I really like to scalp, so we’ll see. I have a terrible trading past, so doing the opposite of my trades will probably be profitable.

I thought I keep the $25 as well, but I guess it doesn’t really matter. I knew they would probably make you do a certain amount of trades. I know their goal here is to just get people addicted to this stuff so they’ll keep putting more money in. What kind of financial institution gives you $25 to trade with and takes credit card payments for deposits? One that knows the odds are very much in their favor.

 

Account is growing. We will see

 

In getting the account from $25 to $107, did you at least earn minimum wage?