How to get started???
Step # 1
The Broker with cent account
The standard phrases when it comes to small account trading
The professional Trader always tries to explain that you need to have money to start trading.
Their standard phrases are:
- the risk to trade small accounts is too high.
- also, your money management rules can’t be fulfilled as you have to trade from the beginning already the smallest lot size to avoid flattening your account after a few trades.
And, what to say? They are absolutely right.
But, finally, there is a solution I never heard before. There are brokers on the market offering special account types in their portfolio so-called Cent accounts. These accounts were established originally for traders to test in real their Exper Advisors (EA’s = trading robots).
Of course, these Cent accounts can be used from trading beginners as well.
Coming to the point.
What is a Cent Account?
Cent accounts are trading accounts within retail foreign exchange trading with balance measured in cents instead of the US dollars.
Trading accounts dealing in cents are handled the same way as any US dollar account with the only difference being the nominal amounts.
What does it mean?
You can save let’s say 20 USD per month, with a standard trading account everybody tells you that trading is nothing for you and you have to wait till you have more money.
Is that fair? No, it isn’t fair.
Trading in a proper manner is one, if not the most profitable saving / earning source you can find.
Trading should not be exclusively reserved for the people having already money.
Coming back to the above example.
Assuming, you have 20 USD each month ready to save.
With a Broker with Cent account, you will be able to trade these 20 USD likewise 2’000 USD on the account.
Your account will show 2’000 USD, while in reality there are 20 USD.
As a result, you can set up your money management for the 2’000 USDcent.
Assuming that you receive a proper education and won’t become too greedy, consequently, it is already a wonderful start.
Can I become a millionaire with trading?
Please don’t expect to become a millionaire overnight. Realistically you will earn more than the best bank account can offer.
If you are interested and want to start, watch the video below to get a step by step instruction, how to set up an account with a Broker and furthermore how to install the trading platform Metatrader 4 (MT4).
Next steps soon