Monthly Review: Is it possible to trade Forex with only $250???

Hey, guys! Nobody has sent any emails yet. ;)

So, the invitation is still open. If you think trading GBP/JPY with only $250 is impossible, please send me an email saying… “Stop this craziness, young lady! You can’t possibly trade G/J with a stupid-crazy-small forex account of $250! Think again” I dare you ;)

(Disclaimer: said account is in demo not live sooo…)

Here’s the result of my first month – on a demo trading with only $250…

I got a total of 21 trades: 10 losses and 11 wins. For the losses, they’re all GBP/JPY except for the black sheep USD/CHF, which unfortunately pegged me down at 120 pips or $11.29 — my biggest loss ever.

Please take note: my first losses were small ranging–from $0.97 to $3.20. Then I they slowly turned to big losses—from 50 pips to 120 pips.

demo account statement

Each loss had its own story. Some were the results of my lack of discipline – I wasn’t following self-imposed trading rules. I lost 3 trades in a row due to impulsiveness and/or forced trading.

One of my biggest losses (-101 pips traded April 9) was very unfortunate because it also happened during a forex ‘gap’. Of course, I shouldn’t blame the gap! So I made a resolution, and that was not to hold trades during weekends.

A friendly reminder: Please do not try this crazy trading style at home :D; or better yet, do not try it with a live account! Risking more than 1% of your account is like attempting to commit a suicide. :P

As for my winning trades, I couldn’t elaborate because I knew I was just lucky to trade what-I-see and not what-I-feel!

(Thanks to Khalif Ford, I literally copied the trading motto that I read in his blog :D)

My last few trades were results of partly following my trading plan. Well…

So the ‘over-all’ for this month, I was not a break-even for this account–yet. I’m still $9.25 down. :( But I am hopeful that I can get a positive result in the next! Haha! Unfortunately, I can’t access this particular demo account anymore. Like it disappeared to thin air! (A short review for FX Solution)

I don’t know if this happens only to me; but lately, FX Solution had ‘server down’ several times in just a month. And every time this happened, I lost some data. Here are the bad effects to my account:

1. Data from GBP/JPY Bid Chart starting April 17 to 26, 2010 are missing.
2. My demo account was ‘deleted’. It had been missing until now.

I always loved FX Solution even though they have monstrous spreads. :P So these bad effects definitely got me worried! Thank goodness, it’s just a demo account. But what if it was my live account? That would be the end of the world! Hu-hu! I can’t take that!

Well, that’s all for now! Thanks for reading my blog!
~Czarina Cleopatra

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Twitter: CzarinaCleoFollow me on Twitter @CzarinaCleo or follow my blog’s twitter account @ForexMistress =)

  1. [...] View post: Monthly Review: Is it possible to trade Forex with only $250 … [...]

  2. Khalif says:

    It is very possible to trade with $250. Of course your stakes will have to be a lot lower trading the gbp/jpy. Maybe try other currencies that give signals with smaller stops and possibly be a little more aggressive in those trades. But in answer to your posed question YES ABSOLUTELY.

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  4. Marvin says:

    Certainly very doable. In fact, some people make a good side income from trading an account of on $250. I come from Malaysia. And $250 is a lot of money in term of MYR. A trader i know are clearing his car monthly payment on trading a small forex account alone. His technique makes use of the high leverage and ability to hedge to generate reasonable profits.

  5. Blake says:

    That’s right, got it

  6. I used a Signal Provider for a short time and made some pips that way while I learned to make pips on my own.

  7. Dan Earl Martin says:

    Why not? I started trading $50 account

  8. Khalif Ford says:

    If you would like to learn how to trade price action check out my website..
    I also just launched my Brand New trading course. Check it out

  9. There are many benefits to having a target and finishing for the day when you reach it. You should have a target for how much of an equity increase you will take for the day as well as an amount you are willing to lose for that particular day.

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