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Originally Posted by FXTrademaker
For what I have learnt, anyone new to trading currencies should not trade with boworred capital and expect a minimum return, especially to pay off a loan, if one still has only 50% of equity left should leave and learn from the mistakes made.
This article might be helpful for those of you who want to begin trading or already are trading.
http://www.fxtrademaker.com/trading_advice.htm
I hope this helps other traders, since 'Smart people learn from their Mistakes; while Wise people learn from other's Mistakes' |
Yes, you should never trade with borrowed capital, ofcourse, not with $2000 or $10.000. That won't give you enough power to pay back. Borrow $50.000, get a ECN broker that gives you 0-1 pips spread on some pairs and you will discover how Forex works, you will discover how market moves at your orders and so on, because a $50k account gives you power and ofcourse you can pay back the money in 3 - 6 months with only 5 pips/day (not 500 pips/day with a $2K account).
Regards