In the next few minutes, I will share the contents of a small account scalping strategy that has helped my trading journey over the past four years on currency pairs and in recent years on Boom and Crash. Hello, my name is Patrick, I am a professional Forex, Stocks and Indices trader and have been trading for over 9 years.
I am proud to be the best trading mentor you will ever work with. The first tip I want to share with you is that you need to find the right broker when trading with a small Forex account. The last tip I want to share with you is that when you are trading with a small account as a beginner, you want to learn and profit from your mistakes.
Simply put, if you want to avoid such stupid mistakes, open a demo account, lock yourself in a room where your cat won’t enter, and take your time to make trading decisions. Ultimately, these will be the very mistakes that can be avoided when trading on a large account. In any case, if you decide to do any of this, having the discipline to trade only this strategy for a small account can be the difference between exploding or growing your account.
Also, if you want to add a small account, you won’t be able to afford to trade with an undetermined level of risk. While trading the Boom & Crash Index is a great way to grow a small-cap account, there are also significant risks involved. The problem with Boom & Crash is that when you trade spikes, the trade starts with a loss and continues to grow with each M1 candle.
Like any other Forex trading pair, boom and fall indices follow a technical pattern and adhere to price action rules. Below are a number of indicators that will be used to trade booms or busts, and can also be used to buy or sell a dip, and sell or buy an uptrend.
Support the market, organize surges and booms, buy market crash scenarios with minimal risk/reward, engage in daily swing trading and use small lots. In the boom and bust of trading, it is necessary to use the correct lot sizes that will not lead to a loss of capital in a short period of time. If there is a boom and bust in trading, the correct lot sizes should be used and booms and busts should be taken into account, which do not result in a loss of capital in a short time. However, you should use the maximum lot size for high probability trades with close stop loss.
To illustrate this example, a very small transaction size compared to your account balance is like crossing a valley on a very large and stable bridge that won’t bother you even if there is a thunderstorm or heavy rain. The size of the trading lot directly affects the degree to which market movements affect your account. When it comes to Forex trading, the amount of money you can trade has a major impact on your profits and growth.
Your trading capital is split, but you can usually trade at least one trade per day from different accounts. You can also take your own small trading account and increase it to 6 digits and up. Trading is about protecting your capital, and with the minimum RR you stick to, you’ll find your account grows much faster than if you didn’t.
In today’s tutorial, you will learn how to trade with a small forex trading account. This strategy is applicable to both the Boom 500 and Crash 500 as well as other trading assets, once you master the basics you will have a better understanding of Forex trading in general. If you can spend a whole week studying the PDF and trading on a demo account before returning to your real account, you will develop a good scalping strategy that will give you the confidence to win the market.
Then take your results and determine what your probability of success is with the strategy to give you the confidence to take the trade. We suggest that you try the strategy in the simulator and make as many trades as possible to determine which criteria suits you. More importantly, work on your price action analysis skill set so you can pick the best trade out of the bunch.
Learning how to trade on high and small time frames will open up so many opportunities for you that you will need to start sifting the big trades from the good trades. Multi-timeframe trading is what you should do if you are interested in growing your account quickly. The pattern day trading rule is supposed to limit your ability to increase your account quickly.
Looking ahead, we also see the 200 EMA is above the candle, which means a bearish trend (Boom 500 index), it is not suitable for trading, so we have to wait for the market to give us a trading opportunity. If we traders have peaked, we wait for the market to reach EME9, and if the market breaks, there should be no more than three small candles before we stop trading and use crash and boom. When we peak, we wait for the market to reach EMA9, if it breaks above 3 small candles, we exit the trade, this applies to Crash 500 and Boom 500.
When trading the boom, you can buy or sell the 500 boom, but most of the time when you open the Boom100/500 index it is always sold, so trading small bearish candles is the right way to go. Try taking longer trades instead of focusing on the thrill of the spikes.
Trading Forex, Commodities, Stocks or Synthetic Indices carries a high level of risk, so if you really want to be successful in the market, you need to minimize this risk by developing a workable strategy for your account. Experience confirms market structure, spikes and rallies, buy/fail and sell situations, low risk/reward ratio, swing trading days and small lot sizes.